April 30 (Reuters) - Public Storage ( PSA ) forecast

full-year funds from operations (FFO) marginally below Wall

Street estimates on Wednesday, as lower occupancy and higher

expenses weighed on the Real Estate Investment Trust (REIT).

The California-based company expects its 2025 annual

core FFO between $16.35 and $17 per share compared to analysts'

average estimate of FFO of $16.78 per share, according to data

compiled by LSEG.

The total direct cost of operations for same-store

facilities rose by $800,000 compared to a year ago, while square

foot occupancy fell to 91.5% from 91.8%.

The company, which leases out storage spaces for both

personal and business use on a monthly basis, reported a revenue

of $934.5 million for the quarter ended March 31, below

analysts' estimates of $1.17 billion.

Core FFO for the quarter came in at $4.12 per share,

compared to Wall Street estimates of $4.06 per share.