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Public Storage (NYSE:PSA ) Q1 2025 Results Conference Call May 1, 2025 12:00 PM ET Company Participants Ryan Burke - Vice President, Investor Relations and Strategic Partnerships Joe Russell - President and Chief Executive Officer Tom Boyle - Chief Financial Officer Conference Call Participants Daniel Tricarico - Scotiabank Ron Kamdem - Morgan Stanley Todd Thomas - KeyBanc Capital Markets Salil Mehta - Green Street Michael Goldsmith - UBS Michael Griffin - Evercore Juan Sanabria - BMO Capital Markets Eric Wolfe - Citi Caitlin Burrows - Goldman Sachs Ravi Vaidya - Mizuho Ki Bin Kim - Truist Securities Jeff Spector - Bank of America Eric Luebchow - Wells Fargo Tayo Okusanya - Deutsche Bank Mike Mueller - JPMorgan Operator Greetings and welcome to Public Storage First Quarter 2025 Earnings Call At this time, all participants are in a listen-only mode. A question-and-answer session will follow the formal presentation.
Public Storage's Q1 results reflect higher realized annual rent per occupied square foot, offset by a decline in occupancy.
Although the revenue and EPS for Public Storage (PSA) give a sense of how its business performed in the quarter ended March 2025, it might be worth considering how some key metrics compare with Wall Street estimates and the year-ago numbers.
Public Storage (PSA) came out with quarterly funds from operations (FFO) of $4.12 per share, beating the Zacks Consensus Estimate of $4.06 per share. This compares to FFO of $4.03 per share a year ago.
GLENDALE, Calif.--(BUSINESS WIRE)--Public Storage (NYSE:PSA) announced today operating results for the three months ended March 31, 2025. “Public Storage's first quarter performance was in-line with our expectations and reflected broad operational stabilization across the portfolio,” said Joe Russell, President and Chief Executive Officer. “We lead a resilient industry that is underpinned by needs-based customer demand and affordable rents relative to other space alternatives. Our investment in.
Tariffs, especially on China, remain a significant risk, causing market uncertainty, potential shortages, inflation, and economic strain, despite the potential for reductions. Recession odds for 2025 have dipped but remain elevated due to lingering trade policy uncertainty and reduced business investment. I remain fully invested and am currently buying REITs, a blue-chip asset manager, market-leading utility, and high-quality tech stock, anticipating rate cuts and eventual market recovery.
Beyond analysts' top -and-bottom-line estimates for Public Storage (PSA), evaluate projections for some of its key metrics to gain a better insight into how the business might have performed for the quarter ended March 2025.
PSA's Q1 results are likely to reflect gains from high brand value, solid presence in key cities and expansion efforts, though choppiness in demand is a key concern.
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