Public Storage Sees 2024 Same Store Revenue Growth (1.5)%-(0.5)%, Sees 2024 Same Store Expense Growth 2.0%-3.5%
Portfolio Pulse from Benzinga Newsdesk
Public Storage has provided its 2024 financial outlook, projecting a decline in same-store revenue growth between (1.5)% and (0.5)%, while expecting same-store expense growth to range from 2.0% to 3.5%.
July 30, 2024 | 8:11 pm
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Public Storage projects a decline in 2024 same-store revenue growth between (1.5)% and (0.5)%, while same-store expenses are expected to increase by 2.0%-3.5%. This could negatively impact the company's profitability and stock price in the short term.
The projected decline in same-store revenue growth combined with an increase in same-store expenses suggests a potential decrease in profitability for Public Storage. This is likely to negatively impact investor sentiment and the stock price in the short term.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100