Earnings call transcript: Public Storage posts mixed Q2 2026 results as stock falls

Public Storage (PSA) reported mixed second-quarter 2026 results, with adjusted EPS slightly beating expectations at $2.55, but revenue significantly missing at $1.01 billion against a forecast of $1.23 billion. Despite the revenue miss, the company's stock fell by 4.14% in after-hours trading, reflecting investor concern. Management raised full-year guidance, citing improving operating momentum, positive move-in rents for the first time since 2021, and progress on strategic acquisitions like NSA and a pending Canadian deal.