Public Storage (NYSE: PSA) Q2 Earnings Preview and Strategic Growth

Font: Financial Modeling Prep  • Jul 29, 2026

• Public Storage (NYSE: PSA) recently completed a significant acquisition of National Storage Affiliates, expanding its self-storage portfolio to over 4,500 locations.
• The company is set to report Q2 2026 earnings on July 29, with revenue projections between $1.21 billion and $1.23 billion.
• Key financial metrics for the REIT include a P/E ratio of 34.49 and a debt-to-equity ratio of 1.05, with investors focusing on Funds From Operations (FFO).

Public Storage (NYSE: PSA) is a leading global self-storage company. As a Real Estate Investment Trust (REIT), it owns and operates income-producing properties. The company recently completed its acquisition of National Storage Affiliates, as highlighted by Business Wire. This deal adds 1,000 properties and expands its portfolio to over 4,500 locations in the United States.

Public Storage is scheduled to report its second-quarter 2026 earnings on July 29. Analysts project revenues will be between $1.21 billion and $1.23 billion. The $1.21 billion figure represents a 1% increase compared to the same period last year. This growth comes as Public Storage integrates its newly acquired assets.

For REITs like Public Storage, investors often look at Funds From Operations (FFO) instead of traditional earnings. FFO is a performance measure that adds back non-cash expenses like real estate depreciation to net income. This can provide a clearer picture of a REIT's operating performance and its ability to generate cash.

Analysts forecast quarterly earnings of $4.25 per share, a slight 0.7% decrease from the prior year. This contrasts with a separate Wall Street earnings per share (EPS) estimate of $2.53. As detailed in the Zacks Equity Research fundamental analysis, the consensus EPS estimate has been revised downward by 0.7% in the last 30 days.

Looking at its valuation, Public Storage has a price-to-earnings (P/E) ratio of 34.49. The company's debt-to-equity ratio, which compares its total debt to shareholder equity, stands at 1.05. This metric helps investors understand how Public Storage finances its assets and its level of financial risk.