Public Storage Q1 Profit Down

(RTTNews) - Public Storage (PSA) Wednesday reported first-quarter net income of $358.2 million or $2.04 per share, compared to $459.2 million or $2.60 per share last year.

For the three months ended March 31, 2025, FFO was $653.2 milion or $3.71 per share as compared to $748.5 million or $4.24 for the same period in 2024, representing a decrease of 12.5%. Core FFO per share for the quarter was $4.12, compared to $4.03 last year.

Total revenues for the quarter was $934.5 million, compared to $934.0 million last year.

Looking forward, the company expects core FFO per share of $16.35 to $17.00 for the full year 2025.