Public Storage said net income allocable to common shareholders for Q3 2024 was $380.7 million ($2.16 per diluted share), down from $563.2 million ($3.20 per share) in the same period a year earlier, a decrease of $182.5 million. The company cited a $118.5 million increase in foreign currency losses as the main factor.

1. 01

   Public Storage said net income allocable to common shareholders for Q3 2024 was $380.7 million ($2.16 per diluted share), down from $563.2 million ($3.20 per share) in the same period a year earlier, a decrease of $182.5 million. The company cited a $118.5 million increase in foreign currency losses as the main factor.

2. 02

   The company said Same Store revenues fell 1.3% (or $12.3 million) in Q3 2024, while Same Store cost of operations rose 2.6% (or $5.8 million). It cited lower realized annual rent per occupied square foot and a decline in occupancy as the reasons for the revenue decline.

3. 03

   Public Storage said core FFO per diluted share for Q3 2024 was $4.20, down 3.0% from $4.33 a year earlier. It also reported FFO per diluted share of $3.80, down 17.0% from $4.58.

4. 04

   The company set its full-year 2024 Core FFO per share guidance at $16.50 to $16.85, the same range as its prior guidance as of July 30, 2024. The company said this guidance equals (2.3)% to (0.2)% of 2023 Core FFO per share.

Analysis scope · Filing body and confirmed press-release exhibitWe analyzed the filing body and confirmed exhibits. This is not a review of other exhibits, investor presentations or the full earnings call.

AI summarized the filing and translated the summary into English; it may differ from the original. For reference only, not investment advice. AI translated the published Korean report into English. Figures are copied as filed, not recalculated.

Original filing

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