Public Storage (PSA) Revenue — Quarter Ended Dec 31, 2023
Revenue for the quarter increased compared to both the prior quarter and the same quarter last year, reflecting continued growth.
Key takeaway
Quarter ended Dec 31, 2023 · FY2023 Q4
Revenue for the quarter increased compared to both the prior quarter and the same quarter last year, reflecting continued growth.
Financial snapshot
Reported revenue, sequential change, year-over-year change, and trailing four-quarter revenue.
Quarter revenue
$1.2B
Revenue reported for this quarter.
Quarter-over-quarter
+1.4%
Change from the immediately preceding quarter.
Year-over-year
+6.6%
Change from the comparable year-ago quarter.
Trailing four quarters
$4.5B
Sum of the latest four reported quarters.
Quarterly revenue trend
The latest four reported quarters with year-over-year comparisons.
| Period ended | Revenue | Year-over-year change |
|---|---|---|
| Mar 31, 2023 | $1.1B | +12.4% |
| Jun 30, 2023 | $1.1B | +8.5% |
| Sep 30, 2023 | $1.1B | +5.1% |
| Dec 31, 2023 | $1.2B | +6.6% |
Revenue performance
The reported revenue was higher on a sequential basis and significantly above the year-ago level, supported by steady operational demand.
Quarterly comparison
Revenue growth versus the immediately preceding quarter was modest, while the year-over-year gain remained solid, extending the upward trend observed over the past year.
What to watch
The company increased its annual dividend significantly during the year, which may influence future retained cash flow and capital allocation.