Former Chief Executive Officer, President & Trustee, Public Storage
Search every verified Joseph Russell interview, podcast appearance, and on-the-record quote — each transcript cross-checked by AI and human review to confirm speaker identity. Joseph Russell, Chief Executive Officer of Public Storage, discussed the company's fourth quarter 2024 results during an earnings call on February 25, 2025. He stated that the company ended 2024 on a positive note, with results reflecting operational stabilization, and noted that nearly all markets had improved sequentially by year-end. Russell also mentioned that the company completed its "property of tomorrow" program, a multi-year investment exceeding $600 million aimed at rebranding its portfolio nationwide, and said this completion was expected to increase annual retained cash flow from $400 million in 2024 to approximately $600 million in 2025. During the call, Russell addressed questions on pricing dynamics and promotional strategies, describing three tools used at local market levels—promotions, advertising, and move-in rents—and noted that marketing spend was approximately 2.4% of revenue in the fourth quarter. He also reiterated the company's underwriting target of 8% or more in yields for new developments, with a typical lease-up period of three to four years to reach stabilization.
Public Storage acquires National Storage Affiliates merger call.... public storage and national storage affiliates which was announced earlier today joining me from public storage are Joe Russell ...
Public Storage PSA Q2 2025 Earnings Call --------- In this video, we'll cover the latest quarterly earnings results, key financial ...
05/01/2024 Q&A: 07:46 Public Storage, a member of the S&P 500 and FT Global 500, is a REIT that primarily acquires, develops, owns, and operates self-storage facilities. At December 31, 2023, we had: (i) interests in 3,044 self-storage facilities located in 40 states with approximately 218 million net rentable square feet in the United States and (ii) a 35% common equity interest in Shurgard Self Storage Limited (Euronext Brussels: SHUR), which owned 275 self-storage facilities located in seven Western European nations with approximately 15 million net rentable square feet operated under the S…
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