Public Storage · PSA · Next earnings

Public Storage reports Wednesday, Nov 4, 2026

PSA reports after market close with consensus EPS at $2.45 and revenue at $1.34B. Last quarter: Public Storage Beats Q1 2026 Estimates on Higher Rents and Lower Churn

Reports After market close45 days awayDate estimated Real Estate

What the street expects

Consensus for the coming report
Consensus EPS $2.45 Calendar consensus
Consensus revenue $1.34B Calendar consensus
Report date Nov 4, 2026 Wednesday, date estimated
Session After market close 45 days away

Where PSA left off: FY2026 Q1

Full report

Public Storage Beats Q1 2026 Estimates on Higher Rents and Lower Churn

EPS surprise +12.0% Reported $2.71 vs $2.42
Revenue surprise +0.2% Reported $1.22B vs $1.22B
Stock move -2.7% Event window
Subsequent drift +3.2% Up to 20 sessions

Management maintained previously issued 2026 core FFO guidance of $16.35 to $17.00 per share (midpoint $16.68), a slight decline from 2025's $16.97. The prior quarter's guidance had been lowered; this quarter's tone shifted to 'maintained.' Capex outlook remains increasing, reflecting continued investment in acquisitions, development ($618 million pipeline), and the lending platform.

What to watch on the call

Carried forward from the last transcript

Risks management flagged

  • Uneven operating environment with weather impacts and modest demand.
  • New supply pressure in Sunbelt markets.
  • State of emergency in Los Angeles limiting rent growth.
  • Integration risk and timing of synergies from the NSA acquisition ($110-$130 million targeted).
  • Potential slowdown in year-over-year revenue growth in Q2/Q3.

Questions analysts left open

  • Revenue growth cadence and expected dip in same-store revenue in upcoming quarters.
  • Timing and magnitude of NSA integration synergies ($110-$130 million).
  • Expense trend sustainability after a quarter of negative growth.
  • Impact of Los Angeles state of emergency on same-store performance.
  • Supply dynamics in Sunbelt markets and potential re-emergence of headwinds.

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Recent PSA quarters

All PSA earnings
-2.7%FY2026 Q1

Sources

  1. FN2 corporate events calendar, resolved from the earnings calendar feed
  2. FN2 earnings calendar analyst consensus
  3. Earnings call transcript analysis, FY2026 Q1

Methodology

The report date comes from FN2's resolved corporate-events calendar and is marked estimated until the company confirms it. Consensus figures are the calendar's latest analyst estimates for the fiscal period and are not an FN2 forecast.

Risks and open questions are carried forward verbatim from FN2's structured analysis of the previous earnings call. Missing values stay missing and are never estimated.

By FN2 Research · Updated . For educational purposes only; not investment advice.