Research › Fact Sheets › PSA

PUBLIC STORAGE

LISTEDNYSE

SYMBOLPSA

SIC6798

STATE OF INC.MD

FISCAL YEAR ENDSDecember 31

CIK1393311

REAL ESTATE INVESTMENT TRUSTS · LARGE ACCELERATED FILER · 10 FISCAL YEARS OF SEC XBRL DATA, 2016–2025

Fiscal years labelled by the calendar year in which they end. Bars in $ billions; per-share figures as reported.

CAPITALIZATION 12/31/25

($ millions)	Amount	%
Total debt	10,254	52.6
Stockholders' equity	9,248	47.4
Total capitalization	19,502	100.0

175,621,134 shares outstanding at 21 July 2026 (cover page of the 10-Q filed 29 July 2026).

LONG-TERM DEBT 12/31/25

($ millions)	Amount
Long-term debt, incl. current maturities	10,254

CAPITAL STOCK 12/31/25

Common shares authorized	650,000,000
Common shares issued	175,500,243
Par or stated value per share ($)	0.1
Preferred stock ($ millions)	4,350
Outstanding at 7/21/26	175,621,134

DIVIDENDS DECLARED/PAID

Fiscal year	Per share $	Payout %
2025	12.00	133.2
2024	12.00	112.8
2023	12.00	108.5
2022	21.15	90.0
2021	8.00	81.1

HISTORY AND BUSINESS

HISTORY: Incorporated in Maryland.

BUSINESS: Classified by the SEC under Standard Industrial Classification 6798, Real Estate Investment Trusts. Large accelerated filer. Principal executive office: 2811 Internet Boulevard, Frisco, TX 75034. Fiscal year ends December 31. For a description of the business, see Item 1 of the latest 10-K.

CONSOLIDATED INCOME ACCOUNT, YEARS ENDED

($ millions)	12/31/25	12/31/24	12/31/23
Total revenues	4,824	4,696	4,518
Depreciation and amortization	1,152	1,130	970
Interest expense	304	287	201
Net income	1,784	2,072	2,148
Earned per share, diluted ($)	9.01	10.64	11.06
Dividends per share ($)	12.00	12.00	12.00

CONSOLIDATED BALANCE SHEET

($ millions)	12/31/25	12/31/24
Real estate, net	18,805	18,361
Cash and equivalents	318	447
Total assets	20,209	19,755
Debt	10,254	9,353
Total liabilities	10,867	9,941
Stockholders' equity	9,248	9,713

TEN-YEAR STATISTICS: FISCAL YEARS ($ millions except per share)

Fiscal year ended	Revenues	Oper. income	Net income	Net margin %	EPS diluted $	Div. per share $	Oper. cash flow	Capital expend.	Free cash flow	Total assets	Total liabilities	Total debt	Stockholders' equity	ROE %	Debt / equity
12/31/25	4,824	–	1,784	37.0	9.01	12.00	3,186	–	–	20,209	10,867	10,254	9,248	19.3	1.11
12/31/24	4,696	–	2,072	44.1	10.64	12.00	3,128	–	–	19,755	9,941	9,353	9,713	21.3	0.96
12/31/23	4,518	–	2,148	47.6	11.06	12.00	3,247	–	–	19,809	9,702	9,103	10,013	21.5	0.91
12/31/22	4,182	–	4,349	104.0	23.50	21.15	3,117	–	–	17,552	7,386	6,871	10,073	43.2	0.68
12/31/21	3,416	–	1,953	57.2	9.87	8.00	2,544	–	–	17,381	7,957	7,475	9,335	20.9	0.80
12/31/20	2,915	–	1,357	46.6	6.29	8.00	2,043	–	–	11,817	3,240	2,545	8,559	15.9	0.30
12/31/19	2,855	–	1,521	53.3	7.29	8.00	2,068	187	1,880	11,365	2,286	1,902	9,063	16.8	0.21
12/31/18	2,760	–	1,711	62.0	8.54	8.00	2,064	141	1,923	10,928	1,784	1,412	9,119	18.8	0.15
12/31/17	2,669	1,423	1,442	54.0	6.73	8.00	1,973	121	1,852	10,733	1,769	1,431	8,940	16.1	0.16
12/31/16	2,561	1,374	1,454	56.8	6.81	7.30	1,945	81	1,864	10,130	689	391	9,412	15.4	0.04

Net margin = net income ÷ revenues; ROE = net income ÷ year-end stockholders’ equity; total debt = long-term debt including current maturities plus short-term borrowings/commercial paper, as tagged in XBRL; free cash flow = operating cash flow − purchases of property, plant and equipment; d = derived as total assets − total equity where the filing does not tag total liabilities; – = not reported in XBRL for that year.

REGISTRANT:

Public Storage
CIK 1393311 · EIN 95-3551121

PRINCIPAL OFFICE:

2811 Internet Boulevard, Frisco, TX 75034
Tel.: 818-244-8080

INCORPORATED:

Maryland

INDUSTRY (SEC SIC CODE):

6798 · Real Estate Investment Trusts

FILER STATUS:

Large accelerated filer

LATEST ANNUAL REPORT:

10-K for period ended 12/31/25, filed 12 February 2026

RECENT FILINGS (ANNUAL REPORT REFERENCES BELOW):

9/16/26	8-K	period 9/16/26
9/14/26	8-K	period 9/14/26
9/10/26	8-K	period 9/9/26
9/1/26	8-K	period 8/31/26
8/10/26	8-K	period 8/4/26
7/29/26	10-Q	period 6/30/26
7/29/26	8-K	period 7/29/26
7/22/26	8-K	period 7/21/26

Sources: SEC XBRL company facts (all financial figures) · SEC submissions (registrant, address, SIC, filings) · annual reports: 10-K FY2025 (filed 2/12/26) · 10-K FY2024 (filed 2/24/25) · 10-K FY2023 (filed 2/20/24) · 10-K FY2022 (filed 2/21/23) · 10-K FY2021 (filed 2/22/22) · 10-K FY2020 (filed 2/24/21) · 10-K FY2019 (filed 2/25/20) · 10-K FY2018 (filed 2/27/19). Values are the latest figures filed for each fiscal year (restated where a later 10-K restated them). Ratios and free cash flow are Pathos calculations from those figures. Retrieved 31 October 2026.