Public Storage (PSA) Q3 Earnings: Taking a Look at Key Metrics Versus Estimates

By Zacks Equity Research | October 29, 2025, 5:30 PM

For the quarter ended September 2025, Public Storage (PSA) reported revenue of $1.22 billion, up 3.1% over the same period last year. EPS came in at $4.31, compared to $2.16 in the year-ago quarter.

The reported revenue represents a surprise of +1.22% over the Zacks Consensus Estimate of $1.21 billion. With the consensus EPS estimate being $4.24, the EPS surprise was +1.65%.

While investors closely watch year-over-year changes in headline numbers -- revenue and earnings -- and how they compare to Wall Street expectations to determine their next course of action, some key metrics always provide a better insight into a company's underlying performance.

Since these metrics play a crucial role in driving the top- and bottom-line numbers, comparing them with the year-ago numbers and what analysts estimated about them helps investors better project a stock's price performance.

Here is how Public Storage performed in the just reported quarter in terms of the metrics most widely monitored and projected by Wall Street analysts:
  • Square foot occupancy: 90.7% compared to the 92.2% average estimate based on three analysts.
  • Annual contract rent per occupied square foot: $22.88 million versus the two-analyst average estimate of $22.41 million.
  • Revenues- Ancillary operations: $85.21 million versus the four-analyst average estimate of $82.33 million. The reported number represents a year-over-year change of +9.7%.
  • Revenues- Self-storage facilities: $1.14 billion versus $1.12 billion estimated by four analysts on average. Compared to the year-ago quarter, this number represents a +2.6% change.
  • Net Earnings Per Share (Diluted): $2.62 versus the four-analyst average estimate of $2.54.

View all Key Company Metrics for Public Storage here>>>

Shares of Public Storage have returned +3.2% over the past month versus the Zacks S&P 500 composite's +3.8% change. The stock currently has a Zacks Rank #3 (Hold), indicating that it could perform in line with the broader market in the near term.

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This article originally published on Zacks Investment Research (zacks.com).

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