BUZZ-Public Storage down after forecasting 2026 core FFO below estimates

Reuters
Yesterday
BUZZ-<a href="https://laohu8.com/S/PASDL">Public Storage</a> down after forecasting 2026 core FFO below estimates

** Shares of real estate investment trust Public Storage PSA.N fall nearly 2% to $287 in morning trading

** Co on Thursday forecast 2026 core funds from operations (FFO) below Wall Street estimates, signaling softer demand for its self-storage units

** Said it expects full-year core FFO in the range of $16.35 to $17.00 per share, the midpoint of which is below LSEG-compiled analysts' average estimate of $16.91

** Reported Q4 core FFO of $4.26 per share, compared with $4.21 per share a year ago

** Announced departure of CEO Joe Russell; Russell to step down on March 31; CFO Tom Boyle to succeed him as the next chief starting April

** Including session's move, shares up 9.9% YTD

(Reporting by Apratim Sarkar in Bengaluru)

((Apratim.Sarkar@thomsonreuters.com))

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