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Companies / Real Estate / Public Storage
PSA

Public Storage

Real EstateREITsS&P 500
Ticker PSAFRISCO, TXFiscal year ends DecemberBook value per share $52.08Diluted shares 176.5M

Public Storage, Inc. (NYSE: PSA) operates as the largest owner of self-storage facilities in the United States through a Maryland real estate investment trust structure. The company maintains its website at www.publicstorage.com and qualifies for taxation as a REIT, allowing it to distribute substantially all taxable… From the company’s description.

Fiscal year 2025 · ends 12-31Changes are against fiscal 2024The amber dot is the latest twelve months, to 2026-06-30
Sales & profitability
$4.82BFY2025
+2.7% year over year
Last 12 mo $4.89B
46.37%FY2025
−0.2 percentage points
Last 12 mo 42.33%
$1.80BFY2025
−13.8% year over year
Last 12 mo $2.06B
19.29%FY2025
−2 percentage points
Last 12 mo 22.24%
Cash & financing
$3.19BFY2025
+1.9% year over year
Last 12 mo $3.17B
$2.90BFY2025
+7.0% year over year
Last 12 mo $2.86B
1.11FY2025
Was 0.96× a year earlier
Last 12 mo 1.11
175.9MFY2025
−0.1% year over year
Last 12 mo 176.5M

Margins and return on equity change in ; everything else in percent. Fewer shares and less debt are shown plainly, not as bad news — it depends what you make of buybacks. Dotted labels explain each measure. is shown separately from the annual figures.

What Public Storage does

In the company’s own words

Public Storage, Inc. (NYSE: PSA) operates as the largest owner of self-storage facilities in the United States through a Maryland real estate investment trust structure. The company maintains its website at www.publicstorage.com and qualifies for taxation as a REIT, allowing it to distribute substantially all taxable income to shareholders without corporate-level taxation.

As of December 31, 2025, Public Storage holds interests in and operates 3,171 self-storage facilities representing approximately 229 million net rentable square feet across 40 states and most major U.S. markets. The company's self-storage operations generate the majority of revenues through month-to-month rental agreements for personal and business storage needs. Public Storage maintains significant competitive advantages through its recognized brand identity, including its distinctive orange color, substantial operational scale, centralized technology platform, and presence in substantially all major markets.

Beyond core self-storage operations, the company generates ancillary revenues through multiple business lines. Its tenant reinsurance program provides insurance coverage for stored goods, with approximately 1.5 million certificates held by participating tenants representing aggregate coverage of approximately $7.2 billion. Public Storage manages 362 third-party self-storage facilities comprising approximately 28.2 million net rentable square feet and operates under contract to manage 84 additional facilities, including 78 under construction. The company also provides bridge lending financing to third-party self-storage owners, with a bridge loan receivable balance of $142.1 million as of year-end 2025.

The company holds a 35 percent interest in Shurgard Self Storage Limited, a publicly traded European self-storage operator with 332 facilities and 18 million net rentable square feet across seven Western European countries. Public Storage employs approximately 5,770 people, including 4,920 customer-facing roles, 410 field management employees, and 440 corporate operations staff. The company's growth strategy focuses on improving operating performance of existing facilities, acquiring well-located properties, developing new facilities, and expanding ancillary business activities including third-party management and bridge lending services.

Company details
Sector
Real Estate
Industry (SIC)
REITs
Headquarters
FRISCO, TX
Fiscal year end
December
CIK
1393311
SIC
6798

Financial performance, year by year

Fiscal 2013–2025 · USD
$-489.05M$978.09M$2.45B$3.91B$5.38B2013201420152016201720182019202020212022202320242025Last 12 moLast 12 monthsLast 12 months

The full income statement, balance sheet and cash flow for each of these years — every figure traceable to its filing — is on the Financials tab with a free account.

Ownership

Who owns Public Storage — and what changed

Funds as of 2026Q2 · superinvestors as of 2026-06-30

746
funds hold it
0 of 35
superinvestors hold it
$21.72B
held by funds, at market
39.7%
of shares held by funds

Largest fund holders · Public Storage’s weight in each

VANGUARD REAL ESTATE INDEX FUND
VNQ · VANGUARD SPECIALIZED FUNDS
—of fund net assets
VANGUARD TOTAL STOCK MARKET INDEX FUND
VTI · VANGUARD INDEX FUNDS
0.07%of fund net assets
—of fund net assets
VANGUARD 500 INDEX FUND
VOO · VANGUARD INDEX FUNDS
0.08%of fund net assets
VANGUARD MID-CAP INDEX FUND
VO · VANGUARD INDEX FUNDS
0.49%of fund net assets

Fund ownership is a floor, not a census — pensions, insurers and people holding shares directly are not visible here.

Fund ownership counts N-PORT filers only, so it is a floor rather than a census — pensions, insurers and direct holders are not visible here, and the remainder is not “held by individuals”.

Every fund and institutional holder, quarter by quarter, is on the Ownership tab with a free account.

Connected research

Put this business in context.

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  • “How do Public Storage and its peers compare on margins and cash generation over ten years?”
  • “Where did five years of Public Storage's earnings go — cash, debt, buybacks, reinvestment?”
  • “What changed in Public Storage's last four quarterly filings that the numbers alone won't show?”
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