Public Storage (PSA) Revenue — Quarter Ended Mar 31, 2024
Revenue for the quarter was slightly below the prior quarter but above the same quarter last year. This results in a continuation of the year-over-year growth trend despite a modest sequential pullback.
Key takeaway
Quarter ended Mar 31, 2024 · FY2024 Q1
Revenue for the quarter was slightly below the prior quarter but above the same quarter last year. This results in a continuation of the year-over-year growth trend despite a modest sequential pullback.
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
-0.2%
Change from the immediately preceding quarter.
Year-over-year
+5.8%
Change from the comparable year-ago quarter.
Trailing four quarters
$4.6B
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 |
|---|---|---|
| Jun 30, 2023 | $1.1B | +8.5% |
| Sep 30, 2023 | $1.1B | +5.1% |
| Dec 31, 2023 | $1.2B | +6.6% |
| Mar 31, 2024 | $1.2B | +5.8% |
Revenue performance
Revenue remained broadly stable with a minor decline from the previous quarter. The year-over-year comparison remained positive, reflecting ongoing expansion.
Quarterly comparison
Compared to the immediately preceding quarter, revenue decreased slightly. In contrast, revenue was higher relative to the same quarter one year earlier.
What to watch
The small sequential decline after several quarters of growth could signal moderating momentum, though the change is narrow.