Public Storage announced an operating update for the two and eleven months ended November 30, 2025. As of December 8, 2025, the company had acquired or was under contract to acquire 88 self-storage facilities totaling 6.1 million net rentable square feet for $949.4 million since the start of the year. For tenants moving out during the two-month period, the average annual contract rent per square foot was $20.24, unchanged from the same period in 2024, while the square footage of move-outs decreased by 3.2% to 20,483 thousand square feet. Contract rents lost from move-outs declined by 3.2% to $69.1 million. For the eleven-month period, the average annual contract rent per square foot for move-outs decreased by 1.4% to $20.34, and the square footage of move-outs fell by 0.8% to 114,010 thousand square feet. Contract rents lost from move-outs were down 2.2% to $2.13 billion. As of November 30, 2025, same-store square foot occupancy was 91.2%, unchanged from the prior year, and annual contract rent per occupied square foot was $22.59, a decrease of 0.3% compared to the previous year. The results are based on 2,565 same-store facilities comprising 175.3 million net rentable square feet.
Disclaimer: This news brief was created by Public Technologies (PUBT) using generative artificial intelligence. While PUBT strives to provide accurate and timely information, this AI-generated content is for informational purposes only and should not be interpreted as financial, investment, or legal advice. $Public Storage(PSA-N)$ published the original content used to generate this news brief via EDGAR, the Electronic Data Gathering, Analysis, and Retrieval system operated by the U.S. Securities and Exchange Commission (Ref. ID: 0001628280-25-055820), on December 08, 2025, and is solely responsible for the information contained therein.
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