Public Storage (PSA)

Public Storage, a member of the S&P 500, is a REIT that primarily acquires, develops, owns, and operates self-storage facilities. At June 30, 2026, The firm: (i) owned and/or operated 3,584 self-storage facilities located in 40 states with approximately 259 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 335 self-storage facilities located in seven Western European countries with approximately 19 million net rentable square feet operated under the Shurgard brand. Public Storage is headquartered in Frisco, Texas. Public Storage was incorporated in 1972 in Maryland.

Symbol: PSA
Exchange: NYSE
Sector: Real Estate
Industry: REIT - Industrial
Market cap: $49.83B
52 week range: 256.54 - 335.55

Valuation

Share price: $283.81 (close of 2026-10-02)
P/E (TTM): 26.98x
Price to book: 5.37x
Price to free cash flow: 15.71x
Enterprise value: $59.75B
Book value per share: $52.89

Price performance

Period	Change
1 day	-0.07%
5 days	-1.44%
1 month	-5.81%
3 months	-13.90%
6 months	+1.23%
Year to date	+9.37%
1 year	-1.85%
3 years	+8.85%
5 years	-4.51%
10 years	+27.19%
All time	+1908.56%

Members of Congress who disclosed PSA trades

Gilbert Ray Cisneros · Virginia Foxx · Alan Armstrong

Super investors holding PSA

Ken Griffin (Citadel) · Christopher Davis (Davis Selected Advisers)

Profitability and growth

Return on equity: 19.10%
Return on assets: 8.83%
Net margin: 36.99%
EBITDA margin: 67.03%
Revenue growth: 2.74%
Net income growth: -13.88%
Free cash flow growth: 1.86%

Cash flow and balance sheet

Free cash flow yield (TTM): 6.37%
Net debt to EBITDA: 2.80x

Latest reported year

Period end: 2025-12-31
Fiscal year: 2025
Revenue: $4.82B
EBITDA: $3.23B
Net income: $1.78B
Earnings per share: $9.04
Interest expense: $304.50M
Shares outstanding: 175.45M

Income statement by year

Period end	Revenue	Gross profit	Net income	EPS
2025-12-31	$4.82B	-	$1.78B	$9.04
2024-12-31	$4.70B	-	$2.07B	$10.68
2023-12-31	$4.52B	-	$2.15B	$11.11
2022-12-31	$4.18B	-	$4.35B	$23.64
2021-12-31	$3.42B	-	$1.95B	$9.91
2020-12-31	$2.92B	-	$1.36B	$6.29
2019-12-31	$2.86B	-	$1.52B	$7.30
2018-12-31	$2.76B	$2.01B	$1.71B	$8.56
2017-12-31	$2.67B	$1.96B	$1.44B	$6.75
2016-12-31	$2.56B	$1.89B	$1.45B	$6.84

Margins and returns by year

Period end	Gross margin	Net margin	Return on equity	Return on capital
2025-12-31	-	36.99%	19.10%	-
2024-12-31	-	44.13%	21.11%	-
2023-12-31	-	47.55%	21.26%	-
2022-12-31	-	103.99%	42.78%	-
2021-12-31	-	57.18%	20.88%	-
2020-12-31	-	46.56%	15.82%	-
2019-12-31	-	53.26%	16.75%	-
2018-12-31	73.00%	62.00%	18.71%	-
2017-12-31	73.47%	54.05%	16.09%	14.29%
2016-12-31	73.87%	56.77%	15.40%	14.25%

Cash and debt by year

Period end	Cash	Debt
2025-12-31	$318.10M	$10.25B
2024-12-31	$447.42M	$9.35B
2023-12-31	$370.00M	$9.10B
2022-12-31	$775.25M	$6.87B
2021-12-31	$734.60M	$7.48B
2020-12-31	$257.56M	$2.54B
2019-12-31	$409.74M	$1.90B
2018-12-31	$361.22M	$1.41B
2017-12-31	$433.38M	$1.43B
2016-12-31	$183.69M	$390.75M

Free cash flow by year

Period end	Free cash flow	Stock-based compensation
2025-12-31	$3.19B	$39.90M
2024-12-31	$3.13B	$44.75M
2023-12-31	$3.25B	$41.57M
2022-12-31	$3.12B	$56.70M
2021-12-31	$2.54B	$59.81M
2020-12-31	$2.04B	$33.36M
2019-12-31	$2.07B	$25.83M
2018-12-31	$2.06B	$69.94M
2017-12-31	$1.97B	$37.55M
2016-12-31	$1.95B	$37.48M

Dividend history

Most recent payment: 2026-09-15
Paid in the last twelve months: $12.00

Payment date	Dividend per share
2026-09-15	$3.00
2026-06-15	$3.00
2026-03-16	$3.00
2025-12-15	$3.00
2025-09-15	$3.00
2025-06-12	$3.00
2025-03-13	$3.00
2024-12-13	$3.00

Investor relations

Next earnings report

Next confirmed report: 2026-11-04
Consensus EPS estimate: $4.28

Past earnings dates

Reported	Fiscal period	EPS estimate
2026-07-29	Jun/2026	$4.25
2026-04-27	Mar/2026	$4.13
2026-02-12	Dec/2025	$4.23
2025-10-29	Sep/2025	$4.24
2025-07-30	Jun/2025	$4.23
2025-04-30	Mar/2025	$4.06
2025-02-24	Dec/2024	$4.23
2024-10-30	Sep/2024	$4.25

Filings and sources

Company website: publicstorage.com
SEC filings: 10-K, 10-Q and 8-K on EDGAR
Earnings calendar: All upcoming reports

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