Short answer
Public Storage (PSA) filed its Q3 2025 10-Q quarterly report on Oct 29, 2025 for the quarter ended Sep 30, 2025. Quarterly revenue was $1.2B (up 3.1% year over year) with net income of $511M.
Q3 2025 key financials · XBRL
- Revenue
- $1.2B
- +3.1% YoY · +1.9% QoQ
- Net income
- $511M
- +18.8% YoY · +42.6% QoQ
- EPS (diluted)
- $2.63
- +21.2% YoY · +50.3% QoQ
Source: XBRL data from the Public Storage (PSA) Q3 2025 10-Q on SEC EDGAR. USD.
Public Storage Q3 2025 10-Q analysis
AI summary of MD&A and risk factor updates
Management Discussion & Analysis
- Revenue $1.139B for Q3 2025, up 2.6% YoY; Same Store revenue flat at $949M, +0.1% for 9 months (≈$2.8M increase)
- Operating margin stable: Same Store NOI $717.1M Q3 2025 vs $716.9M Q3 2024 (~no change), gross margin ~75.6%
- Best segment: Acquired Facilities NOI up 48.6% Q3 2025 ($46.3M vs $31.2M), worst: Acquired Facilities net income loss reduced but negative ($-12.2M vs $-18.5M)
- Cash changes: $875M senior notes issued in June 2025; $425M Euro notes issued in Oct 2025; $49M spent on solar installations YTD
- Outlook: Anticipate 2025 Same Store revenue similar to 2024 due to Southern California wildfire impact (~10% of Same Store revenue) and macroeconomic uncertainties
Risk Factors
- No new risk factors added this quarter; risk profile unchanged since 2024 10-K filing
- No materially updated risk factors reported compared to the most recent 10-K
- No new or updated regulatory, legal, or compliance risks disclosed in this 10-Q
- Operational and market risks remain consistent with those in the 2024 10-K, no new near-term issues highlighted
- Financial risks including liquidity, debt maturity, and currency exposure unchanged from 2024 disclosure
Generated from the filing text; verify against the original. 10-K vs 10-Q vs 8-K
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