Company: PSA-PH
Filing Date: 2025-10-29
Form Type: 10-Q
Source: 0001628280-25-047163
Chunk: 28

Company: Public Storage
Filing Date: 2025-10-29
Form: 10-Q
Item: Item 2
Chunk 28
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,788 $614,788 0.5 %$85,648 $81,470 5.1 %$2,125,225 $2,129,609 (0.2)%

40

Acquired Facilities

The Acquired Facilities represent 260 facilities that we acquired in 2023, 2024, and 2025. As a result of the stabilization process and timing of when these facilities were acquired, year-over-year changes can be significant. The following table summarizes operating data with respect to the Acquired Facilities:

ACQUIRED FACILITIES Three Months Ended September 30,Nine Months Ended September 30,20252024Change (a)20252024Change (a)($ amounts in thousands, except for per square foot amounts)Revenues (b):2023 Acquisitions$48,872$46,375$2,497$144,400$137,488$6,9122024 Acquisitions5,4775864,89115,19664814,5482025 Acquisitions13,586—13,58616,317—16,317    Total revenues 67,93546,96120,974175,913138,13637,777Cost of operations (b): 2023 Acquisitions14,77315,103(330)44,14944,876(727)2024 Acquisitions1,8116641,1475,6237854,8382025 Acquisitions5,002—5,0026,433—6,433    Total cost of operations 21,58615,7675,81956,20545,66110,544Net operating income:2023 Acquisitions34,09931,2722,827100,25192,6127,6392024 Acquisitions3,666(78)3,7449,573(137)9,7102025 Acquisitions8,584—8,5849,884—9,884    Net operating income 46,34931,19415,155119,70892,47527,233Depreciation and amortization expense(58,558)(49,649)(8,909)(157,477)(157,572)95   Net loss$(12,209)$(18,455)$6,246$(37,769)$(65,097)$27,328As of September 30:Square foot occupancy:2023 Acquisitions86.1%87.