Public Storage
03/02/2026 | Press release | Distributed by Public on 03/02/2026 05:07
Regulation FD Disclosure (Form 8-K)
Item 7.01Regulation FD Disclosure.
On March 1, 2026, Public Storage (the "Company") posted on the Investor Relations section of its website a presentation (the "Investor Presentation") it intends to use at an upcoming investor conference.
Item 8.01Other Events.
The Investor Presentation includes the following operating update for the period ended February 25, 2026.
Same Store Facilities Operating Update (a)
| Period Ended February 25, | |||||||||||||||||
| 2026 | 2025 | Change (b) | |||||||||||||||
| (Amounts in thousands, except for per square foot amounts) | |||||||||||||||||
| Customers moving in during the period: | |||||||||||||||||
| Average annual contract rent per square foot (c) | $ | 11.93 | $ | 12.52 | (4.7)% | ||||||||||||
| Square footage | 18,561 | 19,687 | (5.7)% | ||||||||||||||
| Contract rents gained from move-ins | $ | 36,905 | $ | 41,080 | (10.2)% | ||||||||||||
| Promotional discounts given | $ | 9,195 | $ | 10,947 | (16.0)% | ||||||||||||
| Customers moving out during the period: | |||||||||||||||||
| Average annual contract rent per square foot (c) | $ | 19.55 | $ | 20.01 | (2.3)% | ||||||||||||
| Square footage | 16,427 | 17,364 | (5.4)% | ||||||||||||||
| Contract rents lost from move-outs | $ | 53,525 | $ | 57,909 | (7.6)% | ||||||||||||
| At February 25, | |||||||||||||||||
| Square foot occupancy | 91.7% | 90.6% | 1.1% | ||||||||||||||
| Annual contract rent per occupied square foot (c) | $ | 22.13 | $ | 22.16 | (0.1)% | ||||||||||||
Please see "Analysis of Same Store Revenue" under "Management's Discussion and Analysis of Financial Condition and Results of Operations" in the Company's Annual Report on Form 10-K for the year ended December 31, 2025 for further information with respect to the various factors that affect the Company's revenues.
(a)The Same Store Facilities consist of 2,755 facilities (192.1 million net rentable square feet) that have been owned and operated on a stabilized basis since January 1, 2024.
(b)Represents the absolute nominal change with respect to square foot occupancy, and the percentage change with respect to all other items.
(c)Annual contract rent represents the agreed upon monthly rate that is paid by the Company's customers in place at the time of measurement. Contract rates are initially set in the lease agreement upon move-in and the Company adjusts them from time to time with notice. Contract rent excludes other fees that are charged on a per-item basis, such as late charges and administrative fees, does not reflect the impact of promotional discounts, and does not reflect the impact of rents that are written off as uncollectible.
Public Storage published this content on March 02, 2026, and is solely responsible for the information contained herein. Distributed via EDGAR on March 02, 2026 at 11:07 UTC. If you believe the information included in the content is inaccurate or outdated and requires editing or removal, please contact us at [email protected]