Public Storage Posts Higher Core FFO In Q2 Despite Sharp Decline In Net Income

(RTTNews) - Public Storage (PSA), owner of self-storage facilities in the U.S., reported second-quarter 2025 results showing growth in core funds from operations, while net income fell sharply year over year.

For the quarter ended June 30, 2025, net income attributable to common shareholders declined 34 percent to $309 million from $468 million in the second quarter of 2024.

Core FFO rose slightly to $752 million, a 1 percent increase from $745 million a year earlier. Core FFO per share improved to $4.28 from $4.23, up 1.2 percent year over year.

Meanwhile, funds from operations dropped 20.1 percent to $604 million from $756 million in the prior-year quarter, while FFO per share declined to $3.44 from $4.30.

PSA closed Wednesday's trading at $288.65, down $3.92 or 1.34 percent on the New York Stock Exchange.