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Public Storage
Wyniki II kw. 2026 vs I kw. 2026 · poprzedni kwartał · opublikowano 30 lip 2026 i 28 kwi 2026
Net income down 5.0% on the previous quarter, guidance raised. Management sounded upbeat, in its script and in answers to analysts.
1 · Liczby
−5,0%
Zysk netto vs I kw. 2026
Prognoza podniesiona
Zysk netto 500,0 mln vs 526,3 mln
Przychody +1,2%
2 · Jak mówił zarząd
Optymistyczny
More upbeat than 77% of company calls
Answers to analysts: upbeat, in line with the script.
Similar to last call.
3 · Co się wyróżniło
Liczba
PSA completed or committed approximately $12 billion in capital markets activity and executed 2 major value creation engine transactions this quarter.
Między wierszami
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Główny temat
The lending business platform grew to $173 million outstanding, an increase of $30 million from last quarter, as part of a path toward continued growth in key value creation drivers.
Cytat ze źródła
“For our lending business, our platform grew to $173 million outstanding, up $30 million from last quarter at a current... ...has grown to $692 million across 47 projects, with stabilized yields targeting 8% and remaining amounts unfunded of $432 million. We see a path to continued growth in all 4 of these key value creation drivers.”
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Prognoza ↑
PSA raised revenue guidance by 90 basis points, with 30 basis points of that increase attributed to LA.
Cytat ze źródła
“As I mentioned in the prepared remarks, 30 basis points of that 90 basis point revenue increase in our guidance is going to come from LA.”
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Prognoza
PSA expects to execute its plan to maintain consistent performance across top line, bottom line, and ancillary metrics for the upcoming period.
Cytat ze źródła
“And so we have confidence both top line, bottom line, ancillary, and the like from here and we expect to execute on that plan along those same lines...”
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Słabnie
Public Storage launched PS 4.0 and announced the NSA acquisition to strengthen scale and improve micro market targeting and portfolio construction through the PSNext operating platform.
Cytat ze źródła
“Our value creation engine is driven by a combination of our PSNext operating platform advantages, enhanced data science approach, and team... ...brings together Welltower’s capital allocation–oriented data science platform and Public Storage’s operational pricing and customer analytics capabilities to better our micro market targeting and portfolio construction over time. To summarize the quarter: one, we launched PS 4.0 and aligned the organization toward a new strategic vision; two, we announced the NSA acquisition, which—with a unique structure—strengthens our scale, our...”
Wycena
Odwrócony DCF. Wolne przepływy pieniężne z ostatniego pełnego roku obrotowego (2025-12-31), powiększane przez 10 lat, zdyskontowane, plus wartość rezydualna. „Wzrost implikowany” to tempo, które zakłada obecna cena.
Aktualna cena
$281.66
zamknięcie z 2026-10-05
Rynek zakłada wzrost o iRoczny wzrost wolnych przepływów pieniężnych przez następne 10 lat, który zakłada dzisiejsza cena akcji. Jeśli uważasz, że spółka będzie rosła szybciej, akcja jest w tym modelu tania; wolniej — droga.
+7,6% przez 10 lat
Wartość godziwa / akcję
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Cena vs wartość godziwa
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Cena vs cena zakupu
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Ton
Jak optymistyczny był język w porównaniu z innymi spółkamiiTon to liczba pozytywnych słów finansowych minus liczba negatywnych, skorygowana o długość tekstu. Zarządy zwykle mówią pozytywnie, więc etykiety porównują każdą konferencję z ostatnimi konferencjami wszystkich spółek: „typowy” to środkowa trzecia, „bardzo optymistyczny” to najlepsze 10%, „ostrożny” to najsłabsze 10%.. Kropka: II kw. 2026. Pierścień: I kw. 2026.
Script and answers carried a similar tone, so the script's message held up under questioning.
Zdania, które wpłynęły na ton
“And fourth, our Own It culture is gaining momentum across the organization with strong engagement from our team and real urgency around the opportunity ahead.”
“Continue to grow the development pipeline, are expanding the lending platform and are improving the growth profile of our third party management business.”
“For NOI, they achieved +2.4% growth year to date, well ahead of their midpoint of flat NOI growth driven by solid occupancy improvements and expense controls.”
Liczby
USD · SEC EDGAR XBRL (10-Q, period end 2026-06-30)
| Pozycja | II kw. 2026period end 2026-06-30 | I kw. 2026period end 2026-03-31 | Zmiana | II kw. 2025 | r/r |
|---|---|---|---|---|---|
| Przychody | 1,23 mld | 1,22 mld | +1,2% | 1,20 mld | +2,6% |
| Zysk operacyjny | 466,7 mln | 474,3 mln | −1,6% | 500,0 mln | −6,7% |
| Zysk netto | 500,0 mln | 526,3 mln | −5,0% | 358,4 mln | +39,5% |
| Zysk na akcję | 2,55 | 2,71 | −5,9% | 1,76 | +44,9% |
Tematy
Najczęściej omawiane teraz
- Public Storage Canada is a strong strategic addition to the portfolio, and an attractive entry point into an underpenetrated...
- My 4 key points today cover initiatives coming together as building blocks from here.
- The PSNext operating platform continues to improve with improving leading indicators in the business and new capabilities that are...
- Core FFO in the quarter was $4.17 per share, which was down year over year as Public Storage has previously communicated...
- Public Storage is gonna take, a really a micro market focus strategy as it relates to the pricing opportunity from here.
Zniknęło od I kw. 2026
- Słabnie In a number of Sunbelt markets, new supply continues to weigh on performance and pressure revenues, but at the same...
- Słabnie Occupancy was positive year-over-year by 0.4% versus guidance assumed at flat for the year.
- Słabnie At the same time, from a customer experience standpoint and focus on that experience and length of stay, as part...
- Słabnie Good question, and definitely a good statistic to highlight for it, as Public Storage has been very encouraged by the existing...