What is PSA's forecasted revenue?

Public Storage is forecasted to generate $4.98B in next-four-quarter revenue, representing +1.9% year-over-year growth.

How accurate is the PSA revenue forecast model?

The model has 0.5% training MAPE (Mean Absolute Percentage Error). In a holdout test, it predicted $1.2B versus the actual $1.2B.

Public Storage PSA

Revenue Intelligence Report • 14 quarters of SEC filing data • Updated 2026-10-14 • Data through 2026-06-30

Public Storage's latest quarterly revenue is $1.2B for the period ending 2026-06-30. The model projects $5.0B across the next four quarters (+1.9% versus the preceding four quarters). The forecast uses G&A data; model selection and estimation exclude the latest quarter, whose retrospective holdout error is 0.2%. These are statistical associations, not estimates of the causal effect of spending.

Investment Thesis

The GAM forecast is based on reported revenue and G&A data through 2026-06-30. Training MAPE measures fit to historical data; the separately reported holdout error measures a withheld quarter. Spending coefficients describe associations and do not establish causation.

Next 4 Quarters

$4.98B

+1.9% YoY

G&A Elasticity

0.01x

Training Fit

0.5% MAPE

Retrospective holdout (Q2 FY2026): The model predicted $1.24B vs the actual $1.23B — an error of 0.2%.
Retrospective one-quarter holdout: model fitting and selection exclude this quarter. Historical inputs use the latest available restatements, so this is not a preserved real-time forecast.

Note: The current filings use G&A (GeneralAndAdministrativeExpense). Spending estimates refer to this expense measure, not separately reported SG&A.

Note: Public Storage does not report R&D expenses separately. The model uses the available expense measure without a separate R&D term.

Revenue Forecast

Quarterly Detail

Quarter	Model Forecast	Actual	95% Range	YoY Growth	Status
Q2 FY2026 Period end 2026-06-30	$1.24B	$1.23B	$1.21B–$1.26B	+2.9%	✓ In range
Q3 FY2026 Period end 2026-09-30	$1.23B		$1.21B–$1.26B	+0.7%
Q4 FY2026 Period end 2026-12-31	$1.25B		$1.22B–$1.27B	+2.5%
Q1 FY2027 Period end 2027-03-31	$1.24B		$1.21B–$1.27B	+1.7%
Q2 FY2027 Period end 2027-06-30	$1.27B		$1.23B–$1.30B	+2.7%

Seasonal Factors

Multiplicative seasonal adjustment: These factors capture Public Storage's systematic quarterly revenue patterns relative to the trend model. A factor of 1.05 means that quarter typically runs 5% above the underlying trend; 0.95 means 5% below. Factors are computed as the median of (actual / fitted) across all available quarters.

Fiscal Quarter	Seasonal Factor	vs Trend	Interpretation	Obs.
FQ1 (Jan–Mar)	0.9977	-0.2%	In line with trend	4
FQ2 (Apr–Jun)	0.9976	-0.2%	In line with trend	3
FQ3 (Jul–Sep)	1.0066	+0.7%	In line with trend	3
FQ4 (Oct–Dec)	0.9983	-0.2%	In line with trend	3

Spending and Revenue

Reading this chart: Each line shows the cumulative revenue association with a 1% change in spending over subsequent quarters. These estimates describe historical associations and do not establish causation.

Time-Varying Spending Associations

Time-varying analysis: A penalized spline model (GAM) tracks the association between log spending and log revenue over 14 quarters. Its coefficients describe conditional historical associations, not causal returns on spending.
Current G&A elasticity: -0.0717x
The model-term chart shows relative absolute term magnitudes. Its percentages are not shares of revenue or causal contributions to growth.

Enhanced forecast: The time-varying model (GAM) was selected using training fit, before evaluating the withheld quarter. Its holdout error is 0.2%.

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