Short answer
Public Storage (PSA) filed its Q1 2026 10-Q quarterly report on Apr 27, 2026 for the quarter ended Mar 31, 2026. Quarterly revenue was $1.2B (up 2.9% year over year) with net income of $526M.
Q1 2026 key financials · XBRL
- Revenue
- $1.2B
- +2.9% YoY
- Net income
- $526M
- +29.1% YoY
- Operating margin
- 38.9%
- EPS (diluted)
- $2.71
- +32.8% YoY
Source: XBRL data from the Public Storage (PSA) Q1 2026 10-Q on SEC EDGAR. USD.
Public Storage Q1 2026 10-Q analysis
AI summary of MD&A and risk factor updates
Management Discussion & Analysis
- Self-storage revenue $1.128B, up 2.3% YoY from $1.103B
- Same Store gross margin 73.9% vs 73.6% YoY
- Best performer Acquired Facilities NOI $49.2M, up 41.1% YoY
- Worst performer Other Non-Same Store NOI $2.0M, down 21.7% YoY
- Outlook: 2026 Same Store revenue modestly below 2025 amid tariffs and macroeconomic uncertainty
Risk Factors
- New merger risks triggered by March 16, 2026 NSA merger agreement
- Merger integration risk from incompatible systems, controls, cultures, and customer bases
- Regulatory risk from required Form S-4 effectiveness, shareholder approvals, NYSE listing, and antitrust orders
- Near-term execution risk from management distraction causing operational performance shortfalls
- Leverage risk from $10.1 billion indebtedness as of March 31, 2026
Generated from the filing text; verify against the original. 10-K vs 10-Q vs 8-K
Other Public Storage quarterly reports
Ask about this quarter
Compare quarters, check guidance or see what insiders and funds did around the report.