Public Storage (NYSE:PSA) Q4 2019 Earnings Conference Call - Final Transcript

Feb 26, 2020 • 12:00 pm ET

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Public Storage (NYSE:PSA) Q4 2019 Earnings Conference Call - Final Transcript

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Q & A
Executive
Joseph D. Russell

of reasons, too, are saying this is a good time to exit. So it's a combination.

Analyst
Michael Mueller

Got it. So total mixed bag. Okay.

Executive
Joseph D. Russell

Yeah.

Analyst
Michael Mueller

That's it. Thank you.

Executive
Joseph D. Russell

You bet.

Executive
Tom Boyle

Thanks, Michael.

Operator
Operator

Our next question comes from the line of Steve Sakwa of Evercore ISI.

Analyst
Steve Sakwa

Sorry, just one follow-up guys. On just the Google kind of ad spending and just some changes Google might have made, I think there was a reference in your 10-K about maybe level the playing field. I'm just curious, is there anything you can share with us about maybe just how Google ad searches are working and just things that maybe are leveling the playing field there? Is there any real change in that dynamic that we should be thinking about?

Executive
Tom Boyle

Yes, no, I think we included that to just describe, frankly, the evolution of paid search on Google and the other search platforms over the last couple of years. I think that they've got a great business and they, obviously, seek to garner as many competitors in the keyword auctions as they can. And I think they're doing a pretty good job of it. And we're just highlighting the fact that it's gotten more competitive, and they're doing a good job of getting more people into those auctions.

Analyst
Steve Sakwa

Okay. So it wasn't that there is something more recent that really changed, it's just more the general trend?

Executive
Tom Boyle

Yes, general trend there, and they've got a great business.

Analyst
Steve Sakwa

Okay. Thanks. That's it.

Executive
Tom Boyle

Thanks, Steve.

Operator
Operator

And that was our final question. I'd now like to turn the floor back over to Ryan Burke for any additional or closing remarks.

Executive
Ryan C. Burke

Thanks to all of you for joining us today. We look forward to interacting as the year progresses. Have a good week.

Operator
Operator

[Operator Closing Remarks]