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AI brief of an SEC Form 8-K · Public Storage (PSA)

Public Storage Q4 net income falls 19% to $2.60 a share; Core FFO rises 1.2%

Mixed Impact 4 of 5 earnings Written later

Public Storage reported fourth-quarter 2025 diluted net income of $2.60 per share, down from $3.21 a year earlier, while Core FFO per share rose 1.2% to $4.26. The company gave 2026 Core FFO guidance of $16.35 to $17.00 per share and said CEO Joe Russell will retire effective March 31, 2026, with Tom Boyle becoming CEO on April 1, 2026.

Key points

  • Q4 2025 diluted net income per share was $2.60, versus $3.21 in Q4 2024; full-year net income per share was $9.01, versus $10.64.
  • Q4 2025 Core FFO per share was $4.26, versus $4.21; full-year Core FFO per share was $16.97, versus $16.67.
  • 2026 guidance: Core FFO per share of $16.35 to $17.00, and Same Store revenue growth of (2.2)% to —%.
  • Joe Russell retires effective March 31, 2026; Tom Boyle to become CEO effective April 1, 2026.

The filing

CompanyPublic Storage (PSA)
Form8-K, current report
Filed with the SECFeb 12, 2026, 4:14 PM ET
Accession number0001628280-26-007684

Items reported: 2.02 Results of Operations

Read the filing on SEC.gov ↗

Written by AI on Nov 8, 2026, 1:42 AM ET, from this filing only. Written later: this filing was briefed after the fact, when past filings were added to the site, so the brief may be read with hindsight; the filing itself is the record of what was known on February 12, 2026.

Briefs are written by AI from the filing text and can contain mistakes — open the filing before acting on anything. Impact (1-5) and tone are the AI's reading of the filing for shareholders, not a price forecast. Not investment advice.