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Public Storage
CIK 1393311Updated Sep 27, 2026
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NYSE:PSA on TradingView ↗About the company
Public Storage, a member of the S&P 500, is a REIT that primarily acquires, develops, owns, and operates self-storage facilities. Following completion of the PS Canada transaction, we: (i) own and/or operate 4,647 self-storage facilities located in 41 states and Puerto Rico with approximately 329 million net rentable square feet, (ii) own 68 self-storage facilities located in Canada with approximately 5.3 million net rentable square feet, and (iii) own a 35% common equity interest in Shurgard Self Storage Limited (Euronext Brussels: SHUR), which owns 335 self-storage facilities located in seven Western European countries with approximately 19 million net rentable square feet operated under the Shurgard® brand. Our headquarters are located in Frisco, Texas.
In the news
National Storage Investor Alert: Kahn Swick & Foti, LLC Investigates Adequacy of Price and Process in Proposed Sale of National Storage Affiliates Trust - NSA ↗
Recent filings
Entry into a Material Definitive Agreement · Creation of a Direct Financial Obligation or an Obligation under an Off-Balance Sheet Arrangement
Items 1.01, 2.03, 9.01
Regulation FD Disclosure
Items 7.01
Entry into a Material Definitive Agreement
Items 1.01, 9.01
FWP filing
Regulation FD Disclosure · Other Events
Items 7.01, 8.01, 9.01
Financials
FY 2025 · USDSource
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balance sheet · annual statements
| Line item | FY 2025 | FY 2024 | FY 2023 | FY 2022 |
|---|---|---|---|---|
| ASSETS | ||||
| AssetsUSD | 20,208,604,000Source | 19,754,934,000Source | 19,809,216,000Source | 17,552,307,000Source |
| GoodwillUSD | 165,843,000Source | 165,843,000Source | 165,843,000Source | 165,843,000Source |
| Current assets: | ||||
| Cash and Cash Equivalents, at Carrying ValueUSD | 318,095,000Source | 447,416,000Source | 370,002,000Source | 775,253,000Source |
| LIABILITIES AND EQUITY | ||||
| LiabilitiesUSD | 10,866,770,000Source | 9,941,282,000Source | 9,702,270,000Source | 7,385,506,000Source |
| Stockholders’ equity: | ||||
| Preferred Stock, Value, IssuedUSD | 4,350,000,000Source | 4,350,000,000Source | 4,350,000,000Source | 4,350,000,000Source |
| Common Stock, Value, IssuedUSD | 17,550,000Source | 17,541,000Source | 17,567,000Source | 17,527,000Source |
| Additional Paid in CapitalUSD | 6,147,650,000Source | 6,116,113,000Source | 5,980,760,000Source | 5,896,423,000Source |
| Retained Earnings (Accumulated Deficit)USD | -1,219,273,000Source | -699,083,000Source | -267,910,000Source | -110,231,000Source |
| Accumulated Other Comprehensive Income (Loss), Net of TaxUSD | -47,799,000Source | -71,965,000Source | -67,239,000Source | -80,317,000Source |
| Stockholders' Equity Attributable to ParentUSD | 9,248,128,000Source | 9,712,606,000Source | 10,013,178,000Source | 10,073,402,000Source |
| Liabilities and EquityUSD | 20,208,604,000Source | 19,754,934,000Source | 19,809,216,000Source | 17,552,307,000Source |
| Stockholders' Equity Attributable to Noncontrolling InterestUSD | 93,706,000Source | 101,046,000Source | 93,768,000Source | 93,399,000Source |
| Additional Financial Items | ||||
| Long-term DebtUSD | 10,253,881,000Source | 9,353,034,000Source | 9,103,277,000Source | 6,870,826,000Source |
| Redeemable Noncontrolling Interest, Equity, Carrying AmountUSD | — | — | — | 0Source |
cash flow · annual statements
| Line item | FY 2025 | FY 2024 | FY 2023 | FY 2022 |
|---|---|---|---|---|
| Cash flows from operating activities: | ||||
| Net Income (Loss), Including Portion Attributable to Noncontrolling InterestUSD | 1,797,032,000Source | 2,084,410,000Source | 2,160,120,000Source | 4,366,274,000Source |
| Adjustments to reconcile net income to net cash provided by operating activities: | ||||
| Depreciation, Depletion and AmortizationUSD | 1,151,840,000Source | 1,129,766,000Source | 970,056,000Source | 888,146,000Source |
| Share-based Payment Arrangement, Noncash ExpenseUSD | 39,902,000Source | 44,747,000Source | 41,566,000Source | 56,703,000Source |
| Net Cash Provided by (Used in) Operating ActivitiesUSD | 3,186,449,000Source | 3,128,255,000Source | 3,246,648,000Source | 3,117,141,000Source |
| Cash flows from investing activities: | ||||
| Payments to Acquire Businesses, Net of Cash AcquiredUSD | 0Source | 0Source | 2,178,151,000Source | — |
| Net Cash Provided by (Used in) Investing ActivitiesUSD | -1,685,089,000Source | -1,002,638,000Source | -3,538,502,000Source | 1,119,996,000Source |
| Cash flows from financing activities: | ||||
| Payment, Tax Withholding, Share-based Payment ArrangementUSD | 8,646,000Source | 12,667,000Source | 13,950,000Source | 16,827,000Source |
| Payments for Repurchase of Common StockUSD | 0Source | 200,000,000Source | — | — |
| Net Cash Provided by (Used in) Financing ActivitiesUSD | -1,630,681,000Source | -2,078,576,000Source | -112,928,000Source | -4,193,270,000Source |
| Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents, Period Increase (Decrease), Including Exchange Rate EffectUSD | -129,321,000Source | 47,041,000Source | -404,782,000Source | 43,867,000Source |
| Cash, Cash Equivalents, Restricted Cash and Restricted Cash EquivalentsUSD | 318,095,000Source | 447,416,000Source | 400,375,000Source | 805,157,000Source |
| Supplemental disclosure of cash flow information: | ||||
| Interest Paid, Excluding Capitalized Interest, Operating ActivitiesUSD | 273,007,000Source | 269,498,000Source | 146,213,000Source | — |
| Income Taxes Paid, NetUSD | 6,350,000Source | 6,877,000Source | 11,056,000Source | — |
| Effect of Exchange Rate on Cash, Cash Equivalents, Restricted Cash and Restricted Cash EquivalentsUSD | — | — | 0Source | 0Source |
| Additional Financial Items | ||||
| Share-based Payment Arrangement, ExpenseUSD | 39,902,000Source | 44,747,000Source | 41,566,000Source | 56,703,000Source |
| Amortization of Debt Issuance CostsUSD | 10,349,000Source | — | — | — |
| Amortization of Intangible AssetsUSD | 94,000,000Source | 117,600,000Source | 82,700,000Source | 95,200,000Source |
| DepreciationUSD | 1,046,039,000Source | 1,002,212,000Source | 881,255,000Source | 781,931,000Source |
| Equity Method Investment, Realized Gain (Loss) on DisposalUSD | — | 0Source | 0Source | 2,128,860,000Source |
| Foreign Currency Transaction Gain (Loss), before TaxUSD | -215,583,000Source | 102,244,000Source | -51,197,000Source | 98,314,000Source |
| Gains (Losses) on Sales of Investment Real EstateUSD | 1,113,000Source | 1,537,000Source | 17,178,000Source | 1,503,000Source |
| General and Administrative ExpenseUSD | 106,682,000Source | 106,677,000Source | 80,632,000Source | 114,742,000Source |
| GoodwillUSD | 165,843,000Source | 165,843,000Source | 165,843,000Source | 165,843,000Source |
| Goodwill and Intangible Asset ImpairmentUSD | — | 0Source | 0Source | 0Source |
| Income (Loss) from Equity Method InvestmentsUSD | 9,604,000Source | 19,821,000Source | 27,897,000Source | 106,981,000Source |
| Income Tax Expense (Benefit)USD | -7,228,000Source | 4,669,000Source | 10,821,000Source | — |
| Net Income (Loss) Attributable to ParentUSD | 1,784,348,000Source | 2,072,011,000Source | 2,148,327,000Source | 4,349,147,000Source |
| Net Income (Loss) Attributable to Noncontrolling InterestUSD | 12,684,000Source | 12,399,000Source | 11,793,000Source | 17,127,000Source |
| Net Income (Loss) Available to Common Stockholders, BasicUSD | 1,585,585,000Source | 1,872,685,000Source | 1,948,741,000Source | 4,142,288,000Source |
| Proceeds from Issuance of Common StockUSD | 0Source | 60,321,000Source | 53,131,000Source | 35,271,000Source |
| Proceeds from Noncontrolling InterestsUSD | 4,588,000Source | 2,938,000Source | 3,203,000Source | 1,669,000Source |
income statement · annual statements
| Line item | FY 2025 | FY 2024 | FY 2023 | FY 2022 |
|---|---|---|---|---|
| Total RevenueUSD | 4,824,113,000Source | 4,695,616,000Source | 4,517,690,000Source | 4,182,163,000Source |
| Income (Loss) from Continuing Operations before Income Taxes, Noncontrolling InterestUSD | 1,789,804,000Source | 2,089,079,000Source | 2,170,941,000Source | — |
| Income Tax Expense (Benefit)USD | -7,228,000Source | 4,669,000Source | 10,821,000Source | — |
| Net Income (Loss) Attributable to Noncontrolling InterestUSD | 12,684,000Source | 12,399,000Source | 11,793,000Source | 17,127,000Source |
| Net Income (Loss) Attributable to ParentUSD | 1,784,348,000Source | 2,072,011,000Source | 2,148,327,000Source | 4,349,147,000Source |
| Earnings Per Share, BasicUSD per share | 9.04Source | 10.68Source | 11.11Source | 23.64Source |
| Earnings Per Share, DilutedUSD per share | 9.01Source | 10.64Source | 11.06Source | 23.5Source |
| Weighted Average Number of Shares Outstanding, Basicshares | 175,447,000Source | 175,351,000Source | 175,472,000Source | 175,257,000Source |
| Weighted Average Number of Shares Outstanding, Dilutedshares | 175,902,000Source | 176,038,000Source | 176,143,000Source | 176,280,000Source |
| Additional Financial Items | ||||
| Amortization of Intangible AssetsUSD | 94,000,000Source | 117,600,000Source | 82,700,000Source | 95,200,000Source |
| Common Stock, Dividends, Per Share, DeclaredUSD per share | 12Source | 12Source | 12Source | 21.15Source |
| Costs and ExpensesUSD | 2,892,542,000Source | 2,797,351,000Source | 2,426,217,000Source | 2,192,114,000Source |
| Foreign Currency Transaction Gain (Loss), before TaxUSD | -215,583,000Source | 102,244,000Source | -51,197,000Source | 98,314,000Source |
| Gains (Losses) on Sales of Investment Real EstateUSD | 1,113,000Source | 1,537,000Source | 17,178,000Source | 1,503,000Source |
| General and Administrative ExpenseUSD | 106,682,000Source | 106,677,000Source | 80,632,000Source | 114,742,000Source |
| Income (Loss) from Equity Method InvestmentsUSD | 9,604,000Source | 19,821,000Source | 27,897,000Source | 106,981,000Source |
| Interest and Other IncomeUSD | 63,099,000Source | 67,212,000Source | 85,590,000Source | 40,567,000Source |
| Interest ExpenseUSD | 304,495,000Source | 287,401,000Source | 201,132,000Source | 136,319,000Source |
| Net Income (Loss) Available to Common Stockholders, BasicUSD | 1,585,585,000Source | 1,872,685,000Source | 1,948,741,000Source | 4,142,288,000Source |
| Preferred Stock Dividends, Income Statement ImpactUSD | 194,703,000Source | 194,703,000Source | 194,703,000Source | 194,390,000Source |
Offerings
Registration 333-295774
Filing attachments
d130476dex41.htm · 8-K · 2026-09-16
EX-4.1 2 d130476dex41.htm EX-4.1 EX-4.1 Exhibit 4.1 PS CANADA FINANCE ULC, as Issuer, PUBLIC STORAGE and PUBLIC STORAGE OPERATING COMPANY, as Guarantors, - and - COMPUTERSHARE TRUST COMPANY, N.A., as Trustee INDENTURE Dated as of September 16, 2026 Debt Securities Certain Sections of this Indenture relating to the Trust Indenture Act of 1939 Trust Indenture Act Section Indenture Section §310(a)(1) 607 (a)(2) …
Read attachment ↗d130476dex42.htm · 8-K · 2026-09-16
EX-4.2 3 d130476dex42.htm EX-4.2 EX-4.2 Exhibit 4.2 PS CANADA FINANCE ULC AS ISSUER PUBLIC STORAGE AND PUBLIC STORAGE OPERATING COMPANY AS GUARANTORS AND COMPUTERSHARE TRUST COMPANY, N.A. AS TRUSTEE FIRST SUPPLEMENTAL INDENTURE Dated as of September 16, 2026 C$400,000,000 4.540% SENIOR NOTES DUE 2033 SUPPLEMENT TO INDENTURE DATED AS OF SEPTEMBER 16, 2026, AMONG PS CANADA FINANCE ULC (AS ISSUER) AND PUBLIC STORAGE AND PUBLIC STORAGE OPERATING COMPANY (AS GUARANTORS) AND COMP…
Read attachment ↗d71712dex991.htm · 8-K · 2026-09-01
EX-99.1 2 d71712dex991.htm EX-99.1 EX-99.1 Exhibit 99.1 Public Storage Completes Acquisition of Public Storage Canada FRISCO, Texas, September 1, 2026 - Public Storage (NYSE: PSA, the “Company”), the leading owner and operator of self-storage facilities, today announced that the Company completed its acquisition of Public Storage Canada (“PS Canada”). Under the terms of the transaction, the Company paid consideration worth approximately $1.2 billion at closing, consisting of approximatel…
Read attachment ↗psa-072926xex99_1.htm · 8-K · 2026-07-29
EX-99.1 2 psa-072926xex99_1.htm EX-99.1 Document PUBLIC STORAGE REPORTS SECOND QUARTER 2026 RESULTS AND RAISES GUIDANCE FRISCO, Texas, July 29, 2026 - Public Storage (the “Company”) (NYSE: PSA) announced today its results for the quarter ended June 30, 2026, and its increased outlook for full-year 2026. Net income and core funds from operations (“Core FFO”) per share for the quarter are presented below: Three Months Ended June 30, Change …
Read attachment ↗d137665dex991.htm · 8-K · 2026-07-22
EX-99.1 3 d137665dex991.htm EX-99.1 EX-99.1 Exhibit 99.1 News Release Public Storage Announces Closing of National Storage Affiliates Acquisition Industry-leading PS Next ™ operating model will deliver significant value creation across a broader combined portfolio in key growth markets Completes significant milestone for PS4.0 ™ strategic vision, demonstrating commitment to accretive capital deployment and shareholder value creation FRISCO, Texas, July 22, 2026 - Public Storage (NYSE: …
Read attachment ↗d71179dex42.htm · 8-K · 2026-07-20
EX-4.2 2 d71179dex42.htm EX-4.2 EX-4.2 Exhibit 4.2 PUBLIC STORAGE OPERATING COMPANY AS ISSUER PUBLIC STORAGE AS GUARANTOR AND COMPUTERSHARE TRUST COMPANY, N.A. (AS SUCCESSOR TO WELLS FARGO BANK, NATIONAL ASSOCIATION, AS TRUSTEE) TWENTY-THIRD SUPPLEMENTAL INDENTURE Dated as of July 20, 2026 $400,000,000 4.700% SENIOR NOTES DUE 2032 SUPPLEMENT TO INDENTURE DATED AS OF SEPTEMBER 18, 2017, AS SUPPLEMENTED BY THE SIXTEENTH SUPPLEMENTAL INDENTURE, DATED AS OF AUGUST 14, 2023, AMONG …
Read attachment ↗