Fri, Feb. 20, 7:54 AM
- Q4 FFO of per share of $2.17 includes $0.03 per share of "other items." Core FFO of $2.20 is actually an earnings beat of one penny. Full-year FFO per share of $7.98 vs. $7.53 in 2013.
- Same-store rental income of $445.8M up 5.8% Y/Y. Cost of operations of $103.7M up 1.6%. Gross margin of 77.8% up 80 basis points. Square foot occupancy of 93.5% up 50 basis points.
- Realized annual rental income per square foot of $15.20 up 5.2%.
- Conference call at 12 ET
- Previously: Public Storage misses by $0.02, beats on revenue (Feb. 19)
- PSA flat premarket
Thu, Feb. 19, 5:48 PM
Wed, Feb. 18, 5:35 PM
Oct. 31, 2014, 10:15 AM
- Q3 core FFO per share of $2.11 is up 9.9% from a year ago.
- Same-store (1,982 of them) operating metrics: Rental income up 5.6% Y/Y, Operating costs up 0.8%, NOI up 7.3%, gross margin of 73% up 180 basis points. Square foot occupancy of 94.7% up 30 bps, realized annual rental income per occupied square foot of $15.25 up 5.3%, per available square foot of $14.44 up 5.6%.
- Previously: Public Storage beats by $0.05, misses on revenue
- PSA +1.7%
Oct. 30, 2014, 5:43 PM
Jul. 31, 2014, 7:08 PM
May. 2, 2014, 12:03 PM
- Core FFO per share of $1.80 gained 9.1% from one year ago, but was $0.06 shy of expectations.
- Same store revenue of $440.1M up 5.1%. Operating costs of $139.5M up 4%, with property taxes up 4.3%. Gross margin of 68.3% vs. 68%.
- Square foot occupancy of 92.6% up from 91.9% a year ago. REVAPR of $13.34 up 5% .
- Previously: Public Storage misses by $0.06, misses on revenue
- Source: Press Release
- After a nice run for the stock this year, investors are not taking the earnings miss well. PSA -3%
May. 1, 2014, 7:08 PM
May. 1, 2014, 3:29 PM
- Adjusted FFO per share of $0.98 was up from $0.84 a year ago, with boosted occupancy and rental rates more than offsetting increases in property taxes, snow removal, and utilities. CEO David Rogers notes Sovran (SSS -2.3%) had fewer move-outs than in recent winters.
- Same store revenue grew 8.3% Y/Y thanks to a 310 basis point rise in occupancy, a 3.4% increase in rental rates, and strong growth in insurance commissions. Same store operating expenses grew 6.4%.
- Six properties acquired thus far in 2014 for $86.7M, and another 17 are under contract with a combined purchase price of $120.7M.
- Guidance is boosted, with revenue expected to rise 6.5-7.5% in Q2 and 6-7% on the year. Operating costs including property taxes are expected to rise 6-7% in Q2 and 5-6% for the year. NOI is expected to rise 6.5-7.5% in Q2 and the same for the year. FFO per share should be $1.03-$1.05 in Q2 and $4.25-$4.29 for the year.
- Previously: Sovran Self Storage Inc. AFFO beats by $0.01, beats on revenue
- The rest of the sector - along with Sovran having a good run this year - is also in the red on the session. Public Storage (PSA -0.4%), Extra Space Storage (EXR -1.1%), CubeSmart (CUBE -0.8%)
Feb. 20, 2014, 6:03 PM
Feb. 20, 2014, 12:10 AM| 2 Comments
Feb. 19, 2014, 5:35 PM| Comment!
Oct. 31, 2013, 5:53 PM
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Oct. 30, 2013, 5:35 PM
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PSA vs. ETF Alternatives
Public Storage is engaged in the acquisition, development, ownership and operation of self-storage facilities which offers storage spaces for lease, generally on a month-to-month basis, for personal and business use.
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