Public Storage Stock Income Statements

Public Storage Quarterly Income Statements Chart

Quarterly

Annual

Revenue

Gross Profit

Net Income

Public Storage Quarterly Income Statements Table

Quarterly

Annual

Unit: USD	2025-06-30	2025-03-31	2024-12-31	2024-09-30	2024-06-30	2024-03-31	2023-12-31	2023-09-30	2023-06-30	2023-03-31	2022-12-31	2022-09-30	2022-06-30	2022-03-31	2021-12-31	2021-09-30	2021-06-30	2021-03-31	2020-12-31	2020-09-30	2020-06-30	2020-03-31	2019-12-31	2019-09-30	2019-06-30	2019-03-31	2018-12-31	2018-09-30	2018-06-30	2018-03-31	2017-12-31	2017-09-30	2017-06-30	2017-03-31	2016-12-31	2016-09-30	2016-06-30	2016-03-31	2015-12-31	2015-09-30	2015-06-30	2015-03-31	2014-09-30	2014-06-30	2014-03-31	2013-06-30	2012-09-30	2012-03-31	2011-12-31	2011-09-30	2011-06-30	2011-03-31	2010-09-30	2010-09-29

self-storage operations reportable segment
revenue	1,118,658,000	1,102,998,000	1,100,097,000	1,110,115,000	1,099,736,000	1,086,045,000	1,092,588,000	1,078,721,000	1,056,120,000	1,032,184,000	1,028,353,000	1,027,374,000	973,286,000	917,015,000
yoy	1.72%	1.56%	0.69%	2.91%	4.13%	5.22%	6.25%	5.00%	8.51%	12.56%
qoq	1.42%	0.26%	-0.90%	0.94%	1.26%	-0.60%	1.29%	2.14%	2.32%	0.37%	0.10%	5.56%	6.14%
cost of operations:
property taxes	-120,308,000	-122,902,000													50,793,000	69,573,000										65,353,000																						43,058,000	146,269,900	39,384,000	40,054,000	41,252,000	38,599,000	38,599,000
on-site property manager payroll	-39,448,000	-39,635,000													20,603,000	28,116,000
repairs and maintenance	-22,984,000	-26,910,000													9,784,750	13,078,000										13,414,000																						12,025,000	45,061,000	10,897,000	10,976,000	10,704,000	10,701,000	10,701,000
utilities	-13,493,000	-18,725,000													7,775,500	11,051,000										11,028,000																						9,424,000	37,392,300	10,396,000	8,503,000	9,984,000	10,018,000	10,018,000
marketing	-23,890,000	-26,770,000													7,633,750	9,143,000										8,780,000
other direct property costs	-29,689,000	-30,693,000													13,858,250	18,851,000										16,439,000																						9,084,000
supervisory payroll	-13,355,000	-13,916,000													-6,942,000	-8,320,000										9,780,000																						8,934,000
centralized management costs	-18,585,000	-18,472,000													-9,997,500	-13,757,000
share-based compensation	-2,965,000	-3,131,000													-3,443,000	-3,720,000
total cost of operations	-284,717,000	-301,154,000																								169,187,000																						130,682,000	473,494,900	120,525,000	121,958,000	127,425,000	119,422,000	119,422,000
net operating income	833,941,000	801,844,000	821,727,000	822,680,000	826,235,000	788,631,000	824,716,000	810,936,000	798,442,000	763,569,000	787,097,000	771,904,000	735,297,000	671,521,000	832,027,000	540,441,000										419,560,000																						253,246,000	1,033,547,400	269,476,000	249,895,000	235,512,000	245,668,000	245,668,000
depreciation and amortization	-283,216,000	-282,715,000	-280,891,000	-280,330,000	-283,342,000	-285,203,000	-287,525,000	-238,748,000	-222,133,000	-221,650,000	-226,538,000	-220,772,000	-218,708,000	-222,128,000			172,728,000	146,859,000	102,962,750	138,333,000	137,618,000	135,900,000	94,508,250	129,233,000	126,859,000		90,568,000	124,516,000	119,777,000	117,979,000	120,100,000	113,320,000	110,177,000	110,929,000	111,741,000	109,432,000	107,013,000	105,128,000	106,307,000	106,082,000	106,473,000	107,146,000	111,077,000	106,443,000	109,021,000	90,937,000	89,897,000
net income	550,725,000	519,129,000	540,836,000	542,350,000	542,893,000	503,428,000	537,191,000	572,188,000	576,309,000	541,919,000	560,559,000	551,132,000	516,589,000	449,393,000	450,678,000	427,785,000	411,730,000	434,262,000	317,462,000	325,847,000	315,812,000	367,136,000	224,363,000	399,420,000	371,456,000	323,736,000	173,677,000	379,589,000	405,292,000	344,436,000	390,963,000	358,274,000	355,207,000	344,021,000	415,681,000	369,050,000	358,359,000	317,349,000	365,259,000	341,136,000	328,040,000	283,254,000	294,977,000	278,279,000	228,273,000	261,679,000	264,819,000	176,764,000	722,421,800	191,022,000	171,368,000	159,385,000	169,788,000	169,788,000
yoy	1.44%	3.12%	0.68%	-5.21%	-5.80%	-7.10%	-4.17%	3.82%	11.56%	20.59%	24.38%	28.83%	25.47%	3.48%	41.96%	31.28%	30.37%	18.28%	41.49%	-18.42%	-14.98%	13.41%	29.18%	5.22%	-8.35%	-6.01%	-55.58%	5.95%	14.10%	0.12%	-5.95%	-2.92%	-0.88%	8.40%	13.80%	8.18%	9.24%	12.04%	23.83%	22.59%	43.71%	8.24%	11.39%	57.43%	-68.40%	36.99%	54.53%	10.90%	325.48%	12.51%
qoq	6.09%	-4.01%	-0.28%	-0.10%	7.84%	-6.29%	-6.12%	-0.72%	6.35%	-3.33%	1.71%	6.69%	14.95%	-0.29%	5.35%	3.90%	-5.19%	36.79%	-2.57%	3.18%	-13.98%	63.63%	-43.83%	7.53%	14.74%	86.40%	-54.25%	-6.34%	17.67%	-11.90%	9.12%	0.86%	3.25%	-17.24%	12.64%	2.98%	12.92%	-13.12%	7.07%	3.99%	15.81%	-3.97%	6.00%	21.91%	-12.77%	-1.19%	49.82%	-75.53%	278.19%	11.47%	7.52%	-6.13%	0.00%
net income margin %	49.23%	47.07%	49.16%	48.86%	49.37%	46.35%	49.17%	53.04%	54.57%	52.50%	54.51%	53.64%	53.08%	49.01%
ancillary operations																	52,322,000	50,915,000	33,333,000	46,708,000	44,743,000	41,881,000	30,449,750	41,558,000	41,611,000		29,615,250	39,752,000	40,322,000	38,387,000	29,501,250	40,123,000	40,113,000	37,769,000	29,248,000	39,991,000	39,801,000	37,200,000	27,431,250	37,896,000	41,603,000	38,757,000	37,325,000	37,234,000	34,037,000	33,802,000	32,013,000
cost of operations	-33,288,000	-30,693,000	737,069,000	-287,435,000	-273,501,000	-297,414,000	-267,872,000	-267,785,000	-257,678,000	-268,615,000	-241,256,000	-255,470,000	-237,989,000	-245,494,000
total net income allocated to segments	599,873,000	568,622,000	585,762,000	585,728,000	588,825,000	547,534,000	581,512,000	616,128,000	617,757,000	584,291,000	602,347,000	590,317,000	558,138,000	490,308,000
other items not allocated to segments:
real estate acquisition and development expense	-2,538,000	-7,423,000	-6,352,000	-2,530,000	-2,907,000	-3,717,000
general and administrative	-25,727,000	-25,184,000	-32,547,000	-26,214,000	-26,580,000	-21,336,000	-1,029,000	-28,625,000	-25,434,000	-25,544,000	-33,341,000	-29,501,000	-28,831,000	-23,069,000			27,740,000	19,574,000	15,661,500	21,288,000	20,294,000	21,064,000	12,918,750	16,908,000	15,264,000		22,569,500	27,429,000	31,329,000	31,520,000	20,551,000	22,311,000	14,992,000	25,028,000	20,148,000	22,140,000	18,321,000	23,047,000	19,456,000	23,573,000	20,988,000	24,160,000	17,874,000	15,377,000	18,989,000	14,085,000	15,298,000
interest and other income	12,789,000	13,234,000	14,964,000	20,029,000	18,253,000	13,966,000	16,209,000	32,295,000	18,452,000	18,634,000	14,173,000	12,736,000	10,279,000	3,379,000			3,113,000	2,852,000	4,881,000	7,214,000	5,831,000	6,479,000	5,503,000	6,465,000	8,582,000		4,723,000	7,020,000	6,328,000	5,544,000	6,049,000	4,569,000	4,155,000	3,998,000	3,524,000	3,750,000	4,028,000	3,836,000	5,035,000	3,659,000	934,000	672,000	749,000	1,000,000	2,402,000	5,516,000	5,444,000		6,304,500	6,875,000	10,575,000	7,768,000	6,775,000	6,775,000
interest expense	-71,609,000	-72,009,000	-72,135,000	-74,252,000	-73,236,000	-67,778,000	-68,602,000	-58,350,000	-38,079,000	-36,101,000	-36,141,000	-34,113,000	-32,941,000	-33,124,000			21,994,000	15,250,000	10,512,000	14,282,000	14,145,000	13,621,000	8,248,500	12,597,000	12,254,000		-6,147,250	-8,094,000	-8,388,000	-8,107,000	-8,137,000	-2,389,000	-1,116,000	-1,048,000	-900,000	-1,221,000	-1,378,000	-711,000					-1,238,000	-2,063,000	-3,480,000	-647,000	-4,926,000		-4,694,750	-5,862,000	-5,933,000	-6,984,000	-7,838,000	-7,838,000
equity in earnings of unconsolidated real estate entities	-2,230,000	3,627,000				6,090,000	5,110,000	7,227,000	9,565,000	5,995,000	6,852,000	8,180,000	48,525,000	43,424,000			29,066,000	19,456,000	15,715,750	21,240,000	17,655,000	23,968,000	13,907,750	19,045,000	18,914,000		22,632,250	17,771,000	41,963,000	30,795,000	14,308,750	17,218,000	20,068,000	19,949,000	10,407,000	17,237,000	10,227,000	14,164,000	9,066,750	12,603,000	7,480,000	16,184,000		14,135,000	14,604,000	13,101,000	12,642,000
foreign currency exchange gain	-146,070,000	-68,695,000	122,824,000	-70,572,000	12,449,000	37,543,000	-71,121,000	47,880,000	-1,096,000	-26,860,000	-138,956,000	100,170,000	101,723,000	35,377,000			-12,707,000	45,385,000	-13,062,500	-41,900,000	-19,295,000	8,945,000	4,536,750	15,574,000	-5,218,000		3,184,500	2,612,000	21,944,000				-25,440,000				8,632,000						-3,012,000	-1,675,000		5,924,000	9,019,000		3,373,750	-28,253,000	10,496,000	31,252,000	55,455,000	55,455,000
gain on sale of real estate	163,000	45,000	109,000	554,000		874,000	17,090,000	88,000				1,503,000					3,991,000	9,413,000	279,250			1,117,000	85,250		341,000		456,250	1,401,000		424,000
income tax expense	-3,240,000	-1,426,000	1,373,000	-2,488,000	-2,075,000	-1,479,000
equity in earnings of unconsolidated real estate entity			3,864,500	2,888,000	6,480,000
gain on sale of equity investment in ps business parks, inc.												2,128,860,000
revenues
rental income															495,568,500	694,589,000										562,630,000																						364,128,000	1,428,289,700	368,645,000	352,801,000	344,340,000	346,643,000	346,643,000
late charges and administrative fees															15,139,500	21,461,000																																19,800,000	78,741,400	21,356,000	19,052,000	18,597,000	18,447,000	18,447,000
total revenues															510,708,000	716,050,000										588,747,000																						383,928,000	1,507,045,200	390,001,000	371,853,000	362,937,000	365,090,000	365,090,000
direct cost of operations
total direct cost of operations															110,448,250	149,812,000
direct net operating income															400,259,750	566,238,000
indirect cost of operations
depreciation and amortization expense															-83,019,750	-112,656,000																																-76,482,000	-311,122,800	-78,454,000	-78,527,000	-76,127,000	-75,880,000	-75,880,000
gross margin															19,600	79,100																																66,000	65,900	69,100	67,200	64,900	67,300	67,300
yoy																																																1.69%	-2.08%	2.67%
qoq															-75.22%																																	0.15%	-4.63%	2.83%	3.54%	-3.57%	0.00%
gross margin %	0%	0%	0%	0%	0%	0%	0%	0%	0%	0%	0%	0%	0%	0%
weighted-average for the period:
square foot occupancy															24,125	96,800										92,500																						90,300	89,800	92,200	92,300	89,800	91,000	91,000
realized annual rental income per
occupied square foot															4,605	19,300										17,410
available square foot															4,442.5	18,680										16,100
at september 30:
annual contract rent per occupied square foot															4,890
revenues:
self-storage facilities																	776,993,000	716,347,000	505,673,000	683,949,000	664,542,000	674,201,000	501,881,250	687,778,000	669,339,000		485,839,750	666,616,000	645,206,000	631,537,000	469,553,750	646,238,000	624,199,000	607,778,000	448,032,500	623,157,000	594,387,000	574,586,000	415,660,250	580,976,000	551,028,000	530,637,000	534,271,000	500,803,000	485,587,000	451,576,000	440,918,000
expenses:
self-storage cost of operations																	202,595,000	212,105,000	156,954,250	206,067,000	213,825,000	207,925,000	147,527,000	200,369,000	196,083,000		136,425,000	183,637,000	179,876,000	182,187,000	129,122,000	173,315,000	171,195,000	171,978,000	120,863,750	165,905,000	157,687,000	159,863,000	115,269,500	152,010,000	147,826,000	161,242,000	146,979,000	142,427,000	156,068,000	132,137,000	127,367,000
ancillary cost of operations																	15,991,000	16,318,000	8,530,250	11,394,000	11,782,000	10,945,000	8,522,750	11,893,000	11,653,000		8,412,000	11,907,000	11,101,000	10,640,000	9,902,750	17,304,000	11,383,000	10,924,000	10,115,500	12,722,000	14,317,000	13,423,000	9,178,750	12,676,000	14,406,000	11,920,000	13,014,000	8,127,000	18,451,000	10,434,000	9,857,000		-7,076,000	-9,793,000	-9,597,000	-8,914,000	-7,091,000	-7,091,000
other increases (decreases) to net income:
allocation to noncontrolling interests																	-1,304,000	-1,226,000	-712,250	-980,000	-889,000	-980,000	-1,008,750	-1,478,000	-1,400,000		-1,122,750	-1,562,000	-1,490,000	-1,439,000	-1,171,000	-1,600,000	-1,505,000	-1,579,000	-1,230,250	-1,745,000	-1,700,000	-1,476,000	-1,169,000	-1,568,000	-1,635,000	-1,473,000	-1,518,000	-1,445,000	-1,077,000	-1,216,000	-927,000
net income allocable to public storage shareholders																	410,426,000	433,036,000	251,486,500	324,867,000	314,923,000	366,156,000	283,629,750	397,942,000	370,056,000		281,206,500	378,027,000	403,802,000	342,997,000	263,204,500	356,674,000	353,702,000	342,442,000	259,959,250	367,305,000	356,659,000	315,873,000	236,938,500	339,568,000	326,405,000	281,781,000	293,459,000	276,834,000	227,196,000	260,463,000	263,892,000
allocation of net income to:
preferred shareholders																	-46,183,000	-46,080,000															-61,281,000	-60,121,000	-44,666,500	-57,178,000	-59,216,000	-62,272,000	-46,516,500	-61,062,000	-61,449,000	-63,555,000	-60,763,000	-57,672,000
preferred shareholders - redemptions																	-16,989,000		-9,595,500	-23,313,000	-15,069,000		-6,635,000	-9,146,000	-8,861,000						-7,332,500	-14,692,000	-14,638,000		-6,718,250		-15,537,000	-11,336,000	-2,224,250	-4,113,000		-4,784,000
restricted share units																	-1,005,000	-1,146,000	-636,500	-746,000	-783,000	-1,017,000	-974,500	-1,406,000	-1,259,000		-947,500	-1,268,000	-1,425,000	-1,097,000	-875,500	-1,210,000	-1,102,000	-1,190,000	-807,750	-1,170,000	-1,131,000	-930,000	-686,000	-885,000	-1,030,000	-829,000	-881,000	-810,000	-637,000	-871,000
net income allocable to common shareholders																	346,249,000	385,810,000	201,542,250	246,916,000	246,119,000	313,134,000	236,379,000	337,362,000	306,411,000		239,699,500	322,679,000	348,300,000	287,819,000	209,382,250	279,717,000	276,681,000	281,131,000	207,766,750	308,957,000	280,775,000	241,335,000	187,511,750	273,508,000	263,926,000	212,613,000	231,815,000	218,352,000	174,052,000	207,685,000	202,465,000
net income per common share:
basic																	1,980	2,210	1,155	1,410	1,410	1,800	1,357.5	1,940	1,760		1,377.5	1,850	2,000	1,660	1,207.5	1,610	1,590	1,620	1,200	1,780	1,620	1,400	1,085	1,580	1,530
diluted																	1,970	2,210	1,155	1,410	1,410	1,790	1,355	1,930	1,760		1,375	1,850	2,000	1,650	1,202.5	1,610	1,590	1,620	1,195	1,780	1,610	1,390	1,080	1,580	1,520
basic weighted-average common shares outstanding																	174,824,000	174,611,000		174,503,000	174,493,000	174,446,000		174,334,000	174,253,000			173,975,000	173,932,000	173,892,000		173,715,000	173,602,000	173,364,000		173,108,000	173,087,000	172,977,000		172,771,000	172,629,000	172,520,000	172,378,000	172,282,000	171,910,000	171,625,000
diluted weighted-average common shares outstanding																	175,547,000	174,840,000		174,626,000	174,575,000	174,616,000		174,611,000	174,542,000			174,348,000	174,224,000	174,148,000		174,240,000	174,075,000	174,069,000		173,848,000	174,000,000	173,850,000		173,529,000	173,387,000	173,366,000		173,181,000	172,809,000	172,647,000
other increases to net income:
preferred shareholders - distributions																			-39,712,250	-53,892,000	-52,952,000	-52,005,000	-39,641,250	-50,028,000	-53,525,000		-40,559,500	-54,080,000	-54,077,000	-54,081,000	-45,614,250	-61,055,000													-52,507,000	-51,907,000
late charges and
administrative fees																										26,117,000
on-site property manager
payroll																										30,263,000
allocated overhead																										14,130,000																						11,724,000
depreciation and
amortization expense																										-95,824,000
gross margin (before depreciation
and amortization expense)																										71,300
at march 31:
annual contract rent per
operating income																											257,480,500	358,879,000	343,445,000	327,598,000	379,778,000	360,111,000	356,565,000	326,688,000	374,372,000	352,949,000	336,850,000	310,325,000	345,858,000	324,531,000	302,938,000	264,926,000	282,652,000	265,663,000	217,095,000	237,785,000	230,512,000
yoy																											-32.20%	-0.34%	-3.68%	0.28%	1.44%	2.03%	5.85%	5.27%	8.24%	8.76%	11.19%	17.14%	22.36%	22.16%	39.54%	11.41%	22.62%
qoq																											-28.25%	4.49%	4.84%	-13.74%	5.46%	0.99%	9.15%	-12.74%	6.07%	4.78%	8.55%	-10.27%	6.57%	7.13%	14.35%	-6.27%	6.39%	22.37%	-8.70%	3.16%
operating margin %	0%	0%	0%	0%	0%	0%	0%	0%	0%	0%	0%	0%	0%	0%
casualty loss																																-7,789,000
foreign currency exchange loss																														-11,818,000	-11,113,000	-13,446,000		-5,566,000	-1,496,750	-3,665,000		-10,954,000							-2,348,000
gain on real estate investment sales																															446,000		975,000					689,000
gain on real estate sales																																							4,625,750	343,000	16,688,000	1,472,000	1,260,000	1,219,000
cash dividends declared per common share																																							1,200	1,700	1,700	1,400	1,400	1,400	1,400	1,250	1,100
net income allocable to common shareholders per common share:
basic																																										1,230		1,270	1,010
diluted																																										1,230		1,260	1,010
equity in earnings of unconsolidated real
estate entities																																											14,566,000
per common share:
basic																																											1,340
diluted																																											1,340
diluted weighted-average common shares
outstanding																																											173,304,000
income from continuing operations																																														261,679,000	252,884,000
discontinued operations																																															11,935,000		279,500	1,392,000		-355,000	2,707,000	2,707,000
net income per common share – basic
continuing operations																																														1,210	1,120
net income per common share – diluted
operating revenues:
operating expenses:
asset impairment charges																																																	-546,500	-2,186,000
gain on real estate sales and debt retirement																																															193,000
allocation to preferred shareholders - distributions																																															-49,267,000
allocation to preferred shareholders - redemptions																																															-11,350,000
allocation to restricted share units																																															-810,000
net income per common share
basic																	1,980	2,210	1,155	1,410	1,410	1,800	1,357.5	1,940	1,760		1,377.5	1,850	2,000	1,660	1,207.5	1,610	1,590	1,620	1,200	1,780	1,620	1,400	1,085	1,580	1,530
continuing operations																																														1,210	1,120
diluted
weighted-average common shares outstanding
basic																															173,613,000				173,091,000				172,699,000								170,576,000
diluted																																															171,700,000
on site property manager payroll																																																25,928,000
media advertising																																																3,145,000		2,110,000	3,291,000	3,998,000	3,045,000	3,045,000
other advertising and selling expense																																																7,360,000
realized annual rent per occupied square foot																																																13,170	8,900	13,150	12,580	12,620	12,660	12,660
revpaf																																																11,890	6,350	12,130	11,610	11,330	11,520	11,520
weighted-average at march 31:
in place annual rent per occupied square foot																																																13,960				13,380
total net rentable square feet																																																122,464,000				121,582,000
number of facilities																																																1,941,000				1,931,000
net operating income:
same store facilities																																																	188,720,750	269,476,000	249,895,000	235,512,000	245,668,000	245,668,000
other facilities																																																	11,859,750	17,652,000	15,693,000	14,237,000	16,062,000	16,062,000
total net operating income from self-storage																																																	200,580,500	287,128,000	265,588,000	249,749,000	261,730,000	261,730,000
depreciation and amortization expense:
total depreciation and amortization expense from self-storage																																																	-66,653,500	-90,276,000	-88,531,000	-87,869,000	-91,993,000	-91,993,000
net income:
total net income from self-storage																																																	133,927,000	196,852,000	177,057,000	161,880,000	169,737,000	169,737,000
ancillary operating revenue																																																	21,454,250	30,011,000	28,891,000	26,915,000	26,588,000	26,588,000
depreciation and amortization, commercial																																																	-496,750	-659,000	-655,000	-673,000	-655,000	-655,000
general and administrative expense																																																	-10,236,000	-14,116,000	-12,593,000	-14,235,000	-8,910,000	-8,910,000
equity in earnings of real estate entities																																																	10,438,750	15,269,000	12,770,000	13,716,000	9,043,000	9,043,000
gains on real estate sales and debt retirement																																																	1,277,750	4,983,000
net income of the company																																																	154,005,500	194,513,000	210,941,000	210,568,000	245,811,000	245,811,000
direct property payroll																																																		25,103,000	25,230,000	25,580,000	25,023,000	25,023,000
other advertising and promotion																																																	23,517,900	5,712,000	6,738,000	5,706,000	5,497,000	5,497,000
telephone reservation center																																																		2,359,000	2,485,000	2,491,000	2,872,000	2,872,000
property insurance																																																		2,240,000	2,530,000	2,461,000	2,376,000	2,376,000
other cost of management																																																	91,439,400	22,324,000	22,151,000	25,249,000	21,291,000	21,291,000
weighted-average at september 30:
gains on disposition of real estate investments																																																			-70,000	198,000
gain on early retirement of debt
weighted-average at june 30:
gain on early debt retirement

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