Public Storage (PSA) Beats Q2 FFO Estimates, Trims Guidance

Public Storage (PSA) reported a second-quarter 2024 core FFO per share of $4.23, which surpassed the Zacks Consensus Estimate of$4.20. However, the figure declined 1.2% year over year. Shares of Public Storage were down 4.96% in the after-hours trading on Tuesday following the release of its second-quarter results. Management noted that customer move-in rents were impacted by industry-wide competition and adjusted PSA's outlook for 2024 to reflect market move-in rent dynamics. Public Storage experienced lo ...