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研究快訊:Public Storage:第一季營收與FFO皆超預期,同店淨營業收入成長轉正

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-- 獨立研究機構CFRA向提供了以下研究報告。 CFRA分析師的觀點摘要如下:PSA公佈的第一季營收為12.1億美元,較2025年第一季的11.8億美元成長2.9%,超出市場普遍預期700萬美元。同店業績持續企穩,營收持平於10億美元,而淨營業收入(NOI)成長0.4%至7.39億美元,標誌著一個正面的轉捩點。維修和維護成本(-5.8%)以及行銷費用(-4.5%)的下降,為第一季度同店淨營業收入的積極增長提供了顯著的利好,體現了有效的成本控制。 儘管第一季同店營收和淨營業收入有所改善,PSA仍維持先前對2026財年同店淨營業收入成長的預期,即下降3.9%至0.5%。公司嚴格的成本控制措施似乎正在支撐利潤率的提升,即便其整體業務收入成長依然溫和。我們認為,維持預期表明,儘管關鍵指標在第一季呈現令人鼓舞的企穩趨勢,但管理階層對整體經營環境仍保持著適當的謹慎態度。

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