Looking to 2025, Public Storage expects revenue growth in the range of -1.3% to 0.8%, with net operating income growth targeted in the range of -2.6% to 0.3% (was -2.9% to 0.2%). Public Storage raised its 2025 non-same store net operating income guidance to the range of $465-$475 million from $444-$464 million previously and its 2025 ancillary net operating income to the range of $200-$205 million from $198-$203 million previously. Interest expense is now targeted at $304 million for the year, up from expectations of $285 million previously. Core FFO per share is now anticipated in the range of $16.45-$17.00, up from the range of $16.35-$17.00. We like Public Storage’s improved outlook and continue to include shares in the High Yield Dividend Newsletter portfolio.
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