Symbols / PSA Stock $305.48 -0.91% Public Storage

Real Estate • REIT - Industrial • United States • NYQ
PSA (Stock) Chart
O: — H: — L: — C: — V: —
SMA 20: — SMA 50: — SMA 200: —
Stock Fundamentals
Scroll to Statements
Index EQUITY
Sector Real Estate
Industry REIT - Industrial
CEO Mr. H. Thomas Boyle III
Exch · Country NYQ · United States
Market Cap 53.62B
Enterprise Value 68.06B
Income 1.59B
Sales 4.83B
FCF (ttm) 2.31B
Book/sh 27.91
Cash/sh 1.81
Employees 5,770
Insider 10d —
IPO Nov 18, 1980
Div forward ($/yr)
Div TTM ($/yr)
Dividend Yield
Ex-Div Date
5Y Avg Yield
Yield vs 5Y Avg
Payout 123.97%
P/E 31.56
Forward P/E 29.64
PEG —
P/S 11.09
P/B 10.95
P/C —
EV/EBITDA 19.98
EV/Sales 14.08
Quick Ratio 0.19
Current Ratio 0.27
Debt/Eq 110.46
LT Debt/Eq —
EPS (ttm) 9.68
EPS next Y 10.31
EPS Growth -19.30%
Revenue Growth 3.30%
EPS Gr Q/Q -17.50%
Rev Gr Q/Q —
Earnings (next) 2026-04-27
Earnings (prior) 2026-04-27
ROA 7.05%
ROE 18.76%
ROIC —
Gross Margin 74.72%
Oper. Margin 46.21%
Profit Margin 36.91%
Shs Outstand 175.54M
Shs Float 157.41M
Insider Own 10.17%
Instit Own 83.39%
Short Float 5.22%
Short Ratio 5.10
Short Interest 6.91M
52W High 313.51
vs 52W High -2.56%
52W Low 256.54
vs 52W Low 19.08%
Beta 1.00
Impl. Vol. 0.78%
Rel Volume 1.00
Avg Volume 1.22M
Volume 1.22M
Target (mean) $312.50
Tgt Median $313.00
Tgt Low $276.00
Tgt High $352.00
# Analysts 16
Recom Buy
Prev Close $308.29
Price $305.48
Change -0.91%
About

Public Storage, a member of the S&P 500, is a REIT that primarily acquires, develops, owns, and operates self-storage facilities. At December 31, 2025, we: (i) owned and/or operated 3,533 self-storage facilities located in 40 states with approximately 258 million net rentable square feet in the United States and (ii) owned a 35% common equity interest in Shurgard Self Storage Limited (Euronext Brussels: SHUR), which owned 332 self-storage facilities located in seven Western European countries with approximately 18 million net rentable square feet operated under the Shurgard brand. Our headquarters are in Frisco, Texas. Public Storage was incorporated in 1972 in Maryland, USA.

Valuation Models

Price estimates from analyst targets and simple models.

1. Analyst consensus
$312.50
Mean price target
2. Current target
$305.48
Latest analyst target
3. DCF / Fair value
$237.02
Simplified: (Free Cash Flow ÷ Shares) × 18 (P/FCF multiple). Not a …
Ratings
Current target
$305.48
Low
$276.00
High
$352.00
Mean
$312.50

Latest analyst rating changes

Date Action Analyst Rating Change Price Target
2026-04-20 main Barclays Overweight → Overweight $352
2026-03-23 main JP Morgan Neutral → Neutral $291
2026-03-23 main Scotiabank Sector Outperform → Sector Outperform $321
2026-03-05 main Barclays Overweight → Overweight $347
2026-03-05 main Evercore ISI Group In-Line → In-Line $311
2026-03-02 main Scotiabank Sector Outperform → Sector Outperform $319
2026-02-17 main Evercore ISI Group In-Line → In-Line $302
2026-02-05 down Wells Fargo Overweight → Equal-Weight $295
2026-01-26 down Wolfe Research Outperform → Peer Perform —
2026-01-20 main Truist Securities Buy → Buy $317
2026-01-08 main UBS Neutral → Neutral $276
2025-12-18 down JP Morgan Overweight → Neutral $301
2025-12-05 main Mizuho Neutral → Neutral $285
2025-12-01 main Evercore ISI Group In-Line → In-Line $309
2025-11-25 main Truist Securities Buy → Buy $315
2025-11-03 main Evercore ISI Group In-Line → In-Line $315
2025-10-31 main RBC Capital Sector Perform → Sector Perform $307
2025-10-27 main Wells Fargo Overweight → Overweight $330
2025-10-03 main Evercore ISI Group In-Line → In-Line $317
2025-09-16 main UBS Neutral → Neutral $295
News
RSS: Latest PSA news
Insider Transactions
Filed Date Insider Relationship Transaction Shares Price Value SEC
2026-04-14 HAVNER RONALD L JR Director — 734 $0.00 $0
2026-04-10 POLADIAN AVEDICK BARUYR Director — 6,000 $0.00 $0
2026-03-31 MITRA SHANKH Director — 128 $270.88 $34,673
2026-03-31 HAVNER RONALD L JR Director — 4 $270.88 $1,246
2026-03-31 WILLIAMS PAUL STRATTON Director — 54 $270.88 $14,628
2026-03-31 REYES JOHN Director — 123 $270.88 $33,318
2026-03-31 SPOGLI RONALD P Director — 6 $270.88 $1,761
2026-03-12 OWEN REBECCA L Director — 4,250 $297.74 $1,265,395
2026-03-02 WILLIAMS PAUL STRATTON Director — 6,000 $310.94 $1,865,639
2026-02-13 REYES JOHN Director — 28,275 $300.35 $8,492,399
Financials
Statement View
Amounts in millions (2 decimals, no suffix) • EPS per share (2 decimals) • Trend = period evolution • YoY Growth = previous period %
Line Item Trend 2025-12-31 2024-12-31 2023-12-31 2022-12-31
Total Revenue
4,824.11
+2.74%
4,695.62
+3.94%
4,517.69
+8.02%
4,182.16
Operating Revenue
4,824.11
+2.74%
4,695.62
+3.94%
4,517.69
+8.02%
4,182.16
Cost Of Revenue
1,309.97
+4.13%
1,258.00
+9.59%
1,147.95
+9.03%
1,052.91
Reconciled Cost Of Revenue
1,309.97
+4.13%
1,258.00
+9.59%
1,147.95
+9.03%
1,052.91
Gross Profit
3,514.14
+2.23%
3,437.61
+2.01%
3,369.74
+7.69%
3,129.26
Operating Expense
1,253.65
+1.39%
1,236.44
+17.68%
1,050.69
+9.47%
959.82
Research And Development
—
—
—
17.54
Selling General And Administration
101.81
-4.57%
106.68
+32.30%
80.63
+12.50%
71.67
General And Administrative Expense
101.81
-4.57%
106.68
+32.30%
80.63
+12.50%
71.67
Salaries And Wages
24.96
-13.05%
28.71
+13.03%
25.40
-32.92%
37.87
Other Gand A
76.84
-1.44%
77.97
-3.30%
80.63
+12.50%
71.67
Total Expenses
2,563.62
+2.77%
2,494.44
+13.45%
2,198.63
+9.24%
2,012.72
Operating Income
2,260.49
+2.69%
2,201.17
-5.08%
2,319.06
+6.90%
2,169.44
EBITDA
3,246.14
-7.42%
3,506.25
+4.91%
3,342.13
-38.17%
5,405.06
Normalized EBITDA
3,481.18
+1.98%
3,413.62
+0.32%
3,402.60
+6.16%
3,205.13
Reconciled Depreciation
1,151.84
+1.95%
1,129.77
+16.46%
970.06
+9.22%
888.15
EBIT
2,094.30
-11.87%
2,376.48
+0.19%
2,372.07
-47.48%
4,516.92
Total Unusual Items
-235.04
-353.74%
92.63
+253.18%
-60.47
-102.75%
2,199.93
Total Unusual Items Excluding Goodwill
-235.04
-353.74%
92.63
+253.18%
-60.47
-102.75%
2,199.93
Special Income Charges
-24.43
-57.52%
-15.51
+41.38%
-26.45
-101.26%
2,100.12
Restructuring And Mergern Acquisition
24.43
+57.52%
15.51
-41.38%
26.45
-7.98%
28.74
Net Income
1,784.35
-13.88%
2,072.01
-3.55%
2,148.33
-50.60%
4,349.15
Pretax Income
1,789.80
-14.33%
2,089.08
-3.77%
2,170.94
-50.44%
4,380.60
Net Non Operating Interest Income Expense
-267.88
-10.41%
-242.62
-109.98%
-115.54
-20.67%
-95.75
Interest Expense Non Operating
304.50
+5.95%
287.40
+42.89%
201.13
+47.55%
136.32
Net Interest Income
-267.88
-10.41%
-242.62
-109.98%
-115.54
-20.67%
-95.75
Interest Expense
304.50
+5.95%
287.40
+42.89%
201.13
+47.55%
136.32
Interest Income Non Operating
36.62
-18.23%
44.78
-47.68%
85.59
+110.98%
40.57
Interest Income
36.62
-18.23%
44.78
-47.68%
85.59
+110.98%
40.57
Other Income Expense
-202.81
-255.38%
130.53
+500.72%
-32.57
-101.41%
2,306.91
Other Non Operating Income Expenses
22.62
+25.16%
18.07
+0.67%
17.95
+19.23%
15.06
Gain On Sale Of Security
-210.61
-294.76%
108.14
+417.87%
-34.02
-134.08%
99.82
Gain On Sale Of Business
—
0.00
0.00
-100.00%
2,128.86
Tax Provision
-7.23
-254.81%
4.67
-56.85%
10.82
-24.47%
14.33
Tax Rate For Calcs
0.00
+10400.00%
0.00
-60.00%
0.00
+52.91%
0.00
Tax Effect Of Unusual Items
-49.36
-26742.32%
0.19
+161.27%
-0.30
-104.20%
7.19
Net Income Including Noncontrolling Interests
1,797.03
-13.79%
2,084.41
-3.50%
2,160.12
-50.53%
4,366.27
Net Income From Continuing Operation Net Minority Interest
1,784.35
-13.88%
2,072.01
-3.55%
2,148.33
-50.60%
4,349.15
Net Income From Continuing And Discontinued Operation
1,784.35
-13.88%
2,072.01
-3.55%
2,148.33
-50.60%
4,349.15
Net Income Continuous Operations
1,797.03
-13.79%
2,084.41
-3.50%
2,160.12
-50.53%
4,366.27
Minority Interests
-12.68
-2.30%
-12.40
-5.14%
-11.79
+31.14%
-17.13
Normalized Income
1,970.03
-0.48%
1,979.57
-10.37%
2,208.49
+2.42%
2,156.41
Net Income Common Stockholders
1,585.59
-15.33%
1,872.68
-3.90%
1,948.74
-52.95%
4,142.29
Otherunder Preferred Stock Dividend
4.06
-12.18%
4.62
-5.32%
4.88
-60.84%
12.47
Diluted EPS
9.01
-15.32%
10.64
-3.80%
11.06
-52.94%
23.50
Basic EPS
9.04
-15.36%
10.68
-3.87%
11.11
-53.00%
23.64
Basic Average Shares
175.45
+0.05%
175.35
-0.07%
175.47
+0.12%
175.26
Diluted Average Shares
175.90
-0.08%
176.04
-0.06%
176.14
-0.08%
176.28
Diluted NI Availto Com Stockholders
1,585.59
-15.33%
1,872.68
-3.90%
1,948.74
-52.95%
4,142.29
Depreciation Amortization Depletion Income Statement
1,151.84
+1.95%
1,129.77
+16.46%
970.06
+9.22%
888.15
Depreciation And Amortization In Income Statement
1,151.84
+1.95%
1,129.77
+16.46%
970.06
+9.22%
888.15
Earnings From Equity Interest
9.60
-51.55%
19.82
-28.95%
27.90
-73.92%
106.98
Gain On Sale Of PPE
—
—
—
1.50
Other Taxes
—
—
—
16.09
Preferred Stock Dividends
194.70
+0.00%
194.70
+0.00%
194.70
+0.16%
194.39
Line Item Trend 2025-12-31 2024-12-31 2023-12-31 2022-12-31
Total Assets
20,208.60
+2.30%
19,754.93
-0.27%
19,809.22
+12.86%
17,552.31
Current Assets
460.20
+0.61%
457.39
+23.62%
370.00
-52.27%
775.25
Cash Cash Equivalents And Short Term Investments
318.10
-28.90%
447.42
+20.92%
370.00
-52.27%
775.25
Cash And Cash Equivalents
318.10
-28.90%
447.42
+20.92%
370.00
-52.27%
775.25
Receivables
142.11
+1324.50%
9.98
—
—
Total Non Current Assets
19,748.40
+2.34%
19,297.54
-0.73%
19,439.21
+15.87%
16,777.05
Net PPE
194.35
-36.92%
308.10
-10.81%
345.45
-7.38%
372.99
Gross PPE
194.35
-36.92%
308.10
-10.81%
345.45
-7.38%
372.99
Construction In Progress
194.35
-36.92%
308.10
-10.81%
345.45
-7.38%
372.99
Goodwill And Other Intangible Assets
251.61
-10.83%
282.19
-27.13%
387.27
+66.55%
232.52
Goodwill
165.84
+0.00%
165.84
+0.00%
165.84
+0.00%
165.84
Other Intangible Assets
85.77
-26.28%
116.34
-47.46%
221.42
+232.10%
66.67
Investments And Advances
388.59
+1.59%
382.49
-1.97%
390.18
+41.50%
275.75
Long Term Equity Investment
388.59
+1.59%
382.49
-1.97%
390.18
+41.50%
275.75
Other Non Current Assets
303.64
+11.55%
272.21
-1.03%
275.05
+19.16%
230.82
Total Liabilities Net Minority Interest
10,866.77
+9.31%
9,941.28
+2.46%
9,702.27
+31.37%
7,385.51
Current Liabilities
612.89
+4.19%
588.25
-1.79%
598.99
+16.38%
514.68
Payables And Accrued Expenses
612.89
+4.19%
588.25
-1.79%
598.99
+16.38%
514.68
Current Accrued Expenses
612.89
+4.19%
588.25
-1.79%
598.99
+16.38%
514.68
Total Non Current Liabilities Net Minority Interest
10,253.88
+9.63%
9,353.03
+2.74%
9,103.28
+32.49%
6,870.83
Long Term Debt And Capital Lease Obligation
10,253.88
+9.63%
9,353.03
+2.74%
9,103.28
+32.49%
6,870.83
Long Term Debt
10,253.88
+9.63%
9,353.03
+2.74%
9,103.28
+32.49%
6,870.83
Preferred Securities Outside Stock Equity
—
—
—
—
Stockholders Equity
9,248.13
-4.78%
9,712.61
-3.00%
10,013.18
-0.60%
10,073.40
Common Stock Equity
4,898.13
-8.66%
5,362.61
-5.31%
5,663.18
-1.05%
5,723.40
Capital Stock
4,367.55
+0.00%
4,367.54
0.00%
4,367.57
+0.00%
4,367.53
Common Stock
17.55
+0.05%
17.54
-0.15%
17.57
+0.23%
17.53
Preferred Stock
4,350.00
+0.00%
4,350.00
+0.00%
4,350.00
+0.00%
4,350.00
Share Issued
175.50
+0.05%
175.41
-0.15%
175.67
+0.23%
175.27
Ordinary Shares Number
175.50
+0.05%
175.41
-0.15%
175.67
+0.23%
175.27
Additional Paid In Capital
6,147.65
+0.52%
6,116.11
+2.26%
5,980.76
+1.43%
5,896.42
Retained Earnings
-1,219.27
-74.41%
-699.08
-160.94%
-267.91
-143.04%
-110.23
Gains Losses Not Affecting Retained Earnings
-47.80
+33.58%
-71.97
-7.03%
-67.24
+16.28%
-80.32
Minority Interest
93.71
-7.26%
101.05
+7.76%
93.77
+0.40%
93.40
Other Equity Adjustments
-47.80
+33.58%
-71.97
-7.03%
-67.24
+16.28%
-80.32
Total Equity Gross Minority Interest
9,341.83
-4.81%
9,813.65
-2.90%
10,106.95
-0.59%
10,166.80
Total Capitalization
19,502.01
+2.29%
19,065.64
-0.27%
19,116.46
+12.82%
16,944.23
Working Capital
-152.69
-16.68%
-130.86
+42.86%
-228.99
-187.88%
260.57
Invested Capital
15,152.01
+2.97%
14,715.64
-0.34%
14,766.45
+17.25%
12,594.23
Total Debt
10,253.88
+9.63%
9,353.03
+2.74%
9,103.28
+32.49%
6,870.83
Net Debt
9,935.79
+11.57%
8,905.62
+1.97%
8,733.27
+43.27%
6,095.57
Net Tangible Assets
8,996.51
-4.60%
9,430.42
-2.03%
9,625.91
-2.18%
9,840.89
Tangible Book Value
4,646.52
-8.54%
5,080.42
-3.71%
5,275.91
-3.92%
5,490.89
Investment Properties
18,610.20
+3.09%
18,052.55
+0.06%
18,041.26
+15.17%
15,664.97
Notes Receivable
142.11
+1324.50%
9.98
—
—
Preferred Shares Number
174.00
+0.00%
174.00
+0.00%
174.00
+0.00%
174.00
Preferred Stock Equity
4,350.00
+0.00%
4,350.00
+0.00%
4,350.00
+0.00%
4,350.00
Line Item Trend 2025-12-31 2024-12-31 2023-12-31 2022-12-31
Operating Cash Flow
3,186.45
+1.86%
3,128.26
-3.65%
3,246.65
+4.15%
3,117.14
Cash Flow From Continuing Operating Activities
3,186.45
+1.86%
3,128.26
-3.65%
3,246.65
+4.15%
3,117.14
Net Income From Continuing Operations
1,797.03
-13.79%
2,084.41
-3.50%
2,160.12
-50.53%
4,366.27
Depreciation Amortization Depletion
1,151.84
+1.95%
1,129.77
+16.46%
970.06
+9.22%
888.15
Depreciation And Amortization
1,151.84
+1.95%
1,129.77
+16.46%
970.06
+9.22%
888.15
Other Non Cash Items
15.25
+33.66%
11.41
-44.36%
20.51
+34.86%
15.21
Stock Based Compensation
39.90
-10.83%
44.75
+7.65%
41.57
-26.70%
56.70
Asset Impairment Charge
4.35
0.00
0.00
—
Operating Gains Losses
174.45
+241.45%
-123.33
-2100.84%
6.16
+100.26%
-2,334.91
Gain Loss On Investment Securities
-1.11
+27.59%
-1.54
+91.05%
-17.18
-1042.91%
-1.50
Net Foreign Currency Exchange Gain Loss
185.17
+281.58%
-101.97
-299.02%
51.24
+152.52%
-97.56
Change In Working Capital
1.80
+106.05%
-29.79
-257.58%
18.90
+308.83%
-9.05
Change In Payables And Accrued Expense
26.44
+74.14%
15.18
-56.95%
35.27
+71.30%
20.59
Change In Accrued Expense
26.44
+74.14%
15.18
-56.95%
35.27
+71.30%
20.59
Change In Other Current Assets
-24.64
+45.21%
-44.97
-174.78%
-16.36
+44.78%
-29.64
Investing Cash Flow
-1,685.09
-68.07%
-1,002.64
+71.66%
-3,538.50
-415.94%
1,120.00
Cash Flow From Continuing Investing Activities
-1,685.09
-68.07%
-1,002.64
+71.66%
-3,538.50
-415.94%
1,120.00
Capital Expenditure
-289.38
+31.10%
-420.02
+8.92%
-461.14
-0.30%
-459.77
Capital Expenditure Reported
-289.38
+31.10%
-420.02
+8.92%
-461.14
-0.30%
-459.77
Net Business Purchase And Sale
0.00
0.00
+100.00%
-2,178.15
-182.63%
2,636.01
Purchase Of Business
0.00
0.00
+100.00%
-2,178.15
0.00
Gain Loss On Sale Of Business
—
0.00
0.00
+100.00%
-2,128.86
Net Other Investing Changes
-131.23
-1217.54%
-9.96
—
—
Financing Cash Flow
-1,630.68
+21.55%
-2,078.58
-1740.62%
-112.93
+97.31%
-4,193.27
Cash Flow From Continuing Financing Activities
-1,630.68
+21.55%
-2,078.58
-1740.62%
-112.93
+97.31%
-4,193.27
Net Issuance Payments Of Debt
704.90
+105.80%
342.52
-84.24%
2,173.01
+523.18%
-513.50
Issuance Of Debt
1,356.42
+17.84%
1,151.02
-47.23%
2,181.27
0.00
Repayment Of Debt
-651.52
+19.42%
-808.50
-9689.38%
-8.26
+98.39%
-513.50
Long Term Debt Issuance
1,356.42
+17.84%
1,151.02
-47.23%
2,181.27
0.00
Long Term Debt Payments
-651.52
+19.42%
-808.50
-9689.38%
-8.26
+98.39%
-513.50
Net Long Term Debt Issuance
704.90
+105.80%
342.52
-84.24%
2,173.01
+523.18%
-513.50
Net Common Stock Issuance
9.41
+110.19%
-92.40
-273.91%
53.13
+50.64%
35.27
Common Stock Payments
0.00
+100.00%
-200.00
0.00
0.00
Cash Dividends Paid
-2,303.38
-0.06%
-2,301.93
+0.15%
-2,305.32
+41.02%
-3,908.50
Repurchase Of Capital Stock
0.00
+100.00%
-200.00
0.00
0.00
Proceeds From Stock Option Exercised
—
—
53.13
+50.64%
35.27
Net Other Financing Charges
-41.62
-55.53%
-26.76
+20.72%
-33.75
+31.65%
-49.38
Changes In Cash
-129.32
-374.91%
47.04
+111.62%
-404.78
-1022.75%
43.87
Effect Of Exchange Rate Changes
—
—
0.00
0.00
Beginning Cash Position
447.42
+11.75%
400.38
-50.27%
805.16
+5.76%
761.29
End Cash Position
318.10
-28.90%
447.42
+11.75%
400.38
-50.27%
805.16
Free Cash Flow
2,897.07
+6.97%
2,708.23
-2.77%
2,785.51
+4.82%
2,657.37
Interest Paid Supplemental Data
273.01
+1.30%
269.50
+84.32%
146.21
+14.49%
127.71
Income Tax Paid Supplemental Data
6.35
-7.66%
6.88
-37.80%
11.06
-2.10%
11.29
Common Stock Issuance
9.41
-91.25%
107.60
+102.52%
53.13
+50.64%
35.27
Dividend Received CFO
1.82
-83.49%
11.04
-62.37%
29.33
-78.23%
134.77
Dividends Received CFI
0.00
-100.00%
13.29
+21.05%
10.97
-19.71%
13.67
Earnings Losses From Equity Investments
-9.60
+51.55%
-19.82
+28.95%
-27.90
+73.92%
-106.98
Issuance Of Capital Stock
9.41
-91.25%
107.60
+102.52%
53.13
-80.90%
278.10
Net Investment Properties Purchase And Sale
-1,264.48
-115.80%
-585.94
+35.62%
-910.19
+14.93%
-1,069.91
Net Preferred Stock Issuance
—
0.00
0.00
-100.00%
242.83
Preferred Stock Issuance
—
0.00
0.00
-100.00%
242.83
Preferred Stock Payments
—
—
0.00
0.00
Purchase Of Investment Properties
-1,272.63
-114.13%
-594.33
+37.45%
-950.17
+11.32%
-1,071.45
Sale Of Business
—
0.00
0.00
-100.00%
2,636.01
Sale Of Investment Properties
8.15
-2.83%
8.39
-79.02%
39.99
+2491.45%
1.54
SEC Filings

Recent 10-K, 10-Q, 8-K, and Form 4 (insider) filings.

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