Analyst Consensus ?
ConsensusHold26 ratings
Bullish934.6%
Neutral1453.9%
Bearish311.5%
1 unmapped firm rating excluded from the percentages.
Public Storage · PSA-PO · FY2026 Q2 · Calendar Q3 2026
Public Storage raises 2026 guidance as demand and integration progress
The quarter supports a constructive operating trajectory: stronger demand indicators, acquisitions and digital initiatives underpin growth, but integration, financing costs and regional supply remain material risks.
Reported After market closeNYSEReal Estate
$57.14B market cap
85quality score
Earnings scorecard
Reported versus consensus
Reported EPS
$2.55
Consensus $2.53
EPS surprise
+0.8%
Reported versus consensus
Reported revenue
$1.23B
Consensus $1.23B
Revenue surprise
-0.1%
Reported versus consensus
Market reaction
unavailable
Stock move
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Event window
SPY move
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Same window
Abnormal move
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Stock minus SPY
Volume
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Subsequent drift
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Up to 20 sessions
Price and volume data were unavailable at publication time.
Ask FN2 about PSA-PO FY2026 Q2
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How did the market react to PSA-PO FY2026 Q2 earnings, and why?What changed in PSA-PO's guidance and outlook in FY2026 Q2?Give me the bull and bear case for PSA-PO after FY2026 Q2 earnings.
Free account. Your question opens in FN2 with this report's transcript and numbers attached.
Transcript intelligence
What changed
Management raised full-year revenue, NOI and core FFO guidance. NSA integration progressed, the Canada acquisition expanded the platform, and operating indicators improved, including occupancy, move-in rents and churn.
Guidance delta
Raised across full-year revenue, NOI and core FFO metrics.
Key takeaways
- Occupancy reached 92.5%, move-in rents turned positive at 1.6%, and churn declined 80% year over year.
- NSA and Canada transactions broaden the portfolio; management expects the acquisitions to contribute approximately $0.02-$0.05 per share to 2026 core FFO.
- PSNext and Ellie are extending digital and AI-enabled customer service, while the development, lending and third-party management pipelines remain active.
Management priorities
- Integrate NSA and close the Public Storage Canada acquisition.
- Scale Ellie and digitize leasing and customer service through PSNext.
- Advance acquisitions, development, lending and third-party management growth.
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Firm-level rating actions
FMP grade actions identify the grading firm, not a named analyst.
| Firm | Rating | Prior rating | Action | Date |
|---|---|---|---|---|
| Stifel | Buy | Buy | Maintain | Sep 12, 2023 |
| Truist Securities | Buy | Buy | Maintain | Aug 28, 2023 |
| JP Morgan | Overweight | Overweight | Maintain | Jun 12, 2023 |
| Raymond James | Perform | Outperform | Downgrade | Jan 9, 2023 |
| Morgan Stanley | Equal Weight | Equal Weight | Maintain | Oct 12, 2022 |
| Evercore ISI Group | In Line | In Line | Maintain | Sep 18, 2022 |
| UBS | Neutral | Neutral | Maintain | Jul 24, 2022 |
| Jefferies | Buy | Buy | Maintain | Jun 29, 2022 |
| BMO Capital | Outperform | Market Perform | Upgrade | May 18, 2022 |
| Goldman Sachs | Neutral | Neutral | Maintain | May 11, 2022 |
| Citigroup | Neutral | Neutral | Maintain | Nov 17, 2021 |
| Wolfe Research | Outperform | Peer Perform | Upgrade | Oct 17, 2021 |
| Berenberg | Hold | Hold | Maintain | Oct 7, 2021 |
| Wells Fargo | Underweight | Underweight | Maintain | Jun 1, 2021 |
| SunTrust Robinson Humphrey | Hold | Hold | Maintain | May 10, 2020 |
| B of A Securities | Buy | Neutral | Upgrade | Mar 23, 2020 |
| CFRA | Sell | Hold | Downgrade | Feb 27, 2020 |
| Argus Research | Buy | Buy | Maintain | Dec 1, 2019 |
| Baird | Neutral | Underperform | Upgrade | Aug 20, 2019 |
| Keybanc | Underweight | Upgrade | Jun 10, 2019 | |
| Barclays | Underweight | Equal Weight | Downgrade | Mar 25, 2019 |
| Cantor Fitzgerald | Hold | Buy | Downgrade | Jun 18, 2015 |
| RBC Capital | Sector Perform | Underperform | Upgrade | Aug 18, 2013 |
| Imperial Capital | In Line | In Line | Maintain | Feb 24, 2013 |
| Deutsche Bank | Hold | Hold | Maintain | Jan 8, 2013 |
| ISI Group | Hold | Hold | Maintain | Aug 2, 2012 |
| Credit Suisse | Outperform | Neutral | Upgrade | Mar 14, 2012 |
Track every rating change on PSA-PO the moment it posts. Free to start.
Start freeCompany context
Snapshot as of publicationPublic Storage, a prominent Real Estate Investment Trust (REIT) and member of both the S&P 500 and FT Global 500 indices, primarily engages in the acquisition, development, ownership, and operation of self-storage facilities. As of September 30, 2020, its extensive holdings included: (i) 2,504 self-storage properties spread across 38 U.S. states, encompassing roughly 171 million net rentable square feet; (ii) an approximate 35% common equity stake in Shurgard Self Storage SA (Euronext Brussels:SHUR), which operates 239 self-storage facilities under the "Shurgard" brand across seven Western European nations, accounting for about 13 million net rentable square feet; and (iii) a roughly 42% common equity interest in PS Business Parks, Inc. (NYSE:PSB), an entity that owned and managed approximately 28 million rentable square feet of commercial space. The company's corporate headquarters are located in Glendale, California.
Historical context
All PSA-PO earningsReal Estate peers this season
Latest reports in the same sector| Company | Quarter | EPS surprise | Market move | Headline |
|---|---|---|---|---|
| AMT American Tower Corporation | FY2026 Q3 · Calendar Q4 2026 | — | -2.4% | AMT Raises Outlook as CoreSite Growth Offsets Tower-Sector Headwinds |
| PSA-PL Public Storage | FY2026 Q3 · Calendar Q4 2026 | -32.1% | — | Public Storage raises guidance as retention and pricing improve |
| PSA-PN Public Storage | FY2026 Q3 · Calendar Q4 2026 | -32.1% | — | Public Storage raises guidance as operating trends improve |
| PSA-PK Public Storage | FY2026 Q3 · Calendar Q4 2026 | -32.1% | — | Public Storage raises guidance as digital platform and acquisitions support growth |
| PSA-PG Public Storage | FY2026 Q3 · Calendar Q4 2026 | -32.1% | — | Public Storage raises guidance as pricing and integration support growth |
| PSA Public Storage | FY2026 Q3 · Calendar Q4 2026 | -32.1% | +1.8% | Public Storage raises guidance as pricing and acquisitions strengthen Q3 |
Latest beats and misses
Who reports nextBeat on EPS
- HCAFY2026 Q3 · October 27, 2026+8.6% EPS-3.3% move
- GLWFY2026 Q3 · October 27, 2026+3.3% EPS-1.1% move
- STXFY2027 Q1 · October 27, 2026+3.1% EPS+3.7% move
- LPLAFY2026 Q3 · October 27, 2026+5.5% EPS+0.1% move
- RGENFY2026 Q3 · October 27, 2026+14.5% EPS-2.4% move
- NVSFY2026 Q3 · October 27, 2026+9.3% EPS+2.0% move
Missed on EPS
- HSBCFY2026 Q3 · October 27, 2026-4.5% EPS-5.7% move
- BROFY2026 Q3 · October 26, 2026-1.8% EPS-5.0% move
- PSA-PLFY2026 Q3 · October 26, 2026-32.1% EPS— move
- PSA-PNFY2026 Q3 · October 26, 2026-32.1% EPS— move
- PSA-POFY2026 Q3 · October 26, 2026-32.1% EPS— move
- PSA-PKFY2026 Q3 · October 26, 2026-32.1% EPS— move
Get the PSA-PO recap when the next report posts
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Sources
- Earnings call transcript and parsed analysis · 2026-08-14T20:17:26.690151+00:00
- FN2 earnings calendar · 2026-09-03T01:23:14.877038+00:00
- Polygon adjusted daily market bars
Methodology
Reported and consensus figures come from FN2's earnings event records. Market reaction and volume are calculated from daily adjusted bars around the event; abnormal move subtracts the SPY move over the same window.
Transcript intelligence is a structured synthesis of the current and prior earnings-call analyses. Missing values stay missing and are never estimated.
By FN2 Research · Updated · As of 2026-10-28. For educational purposes only; not investment advice.