Public Storage PSA
Public Storage (PSA), an esteemed Real Estate Investment Trust (REIT) and a constituent of both the S&P 500 and FT Global 500 indices, concentrates its operations on the acquisition, development, ownership, and management of self-storage properties. By September 30, 2020, the company's substantial holdings included 2,504 self-storage facilities located across 38 U.S. states, collectively providing around 171 million net rentable square feet. Additionally, Public Storage held an approximate 35% common equity interest in Shurgard Self Storage SA (Euronext Brussels:SHUR), an entity that owned and operated 239 self-storage sites under the Shurgard brand in seven Western European countries, encompassing approximately 13 million net rentable square feet. Concurrently, it maintained an approximate 42% common equity interest in PS Business Parks, Inc. (NYSE:PSB), which, as of the same reporting date, managed roughly 28 million rentable square feet of commercial properties. The company's main office is situated in Glendale, California.
Business overview written from the company's own Form 10-K (Item 1), filed 2026-02-12 — refreshed whenever it files a new one. The figures above are current; see its SEC filings. ✓ From the 10-K
Plain-English: the Snapshot is the quick read — what it pays you (yield, dividend), how its cash flow looks (FFO/AFFO, Price/OCF) and how much debt it carries. Switch to Expert in the header to hide these explanations.
Snapshot
Reported FFO / Core FFO / leverage are from the Q1 2026 earnings release (filed 2026-04-27) — 8-K, EX-99.1 ✓ Verified to filing.
Yield uses the latest declared dividend, annualized (latest regular payout × frequency; special/liquidating distributions excluded) — an announced-but-not-yet-declared change isn't reflected until it has an ex-date. FFO, AFFO and Net debt / Adj. EBITDA are the company's reported figures from its latest earnings 8-K. Price/OCF and payout use GAAP operating cash flow. NAV premium and credit ratings have no free source yet. See Methodology.
$10,000 invested
Illustrative income only, at today's price and latest declared dividend — it excludes price changes, dividend cuts and taxes. Not a forecast.
Model PSA yourself — any amount, shares, per-payment & a multi-year DRIP projection →
Balance sheet (latest FY: 2025)
Debt-maturity ladder, fixed/floating split, secured/unsecured and coverage ratios come from the supplemental — not yet ingested.
Financial history
| FY | Revenue | Net income | D&A | EBITDA | Op. cash flow |
|---|---|---|---|---|---|
| 2025 | $4.82B | $1.78B | $1.15B | $3.25B | $3.19B |
| 2024 | $4.70B | $2.07B | $1.13B | $3.51B | $3.13B |
| 2023 | $4.52B | $2.15B | $970.06M | $3.34B | $3.25B |
| 2022 | $4.18B | $4.35B | $888.15M | $5.41B | $3.12B |
| 2021 | $3.42B | $1.95B | $713.43M | $2.78B | $2.54B |
| 2020 | $2.92B | $1.36B | $553.26M | $1.97B | $2.04B |
Dividends
Recent regular dividends per share (special distributions excluded), oldest → newest.
| Ex-date | Record | Payment | Declared | Amount | Freq. |
|---|---|---|---|---|---|
| 2026-06-15 | 2026-06-15 | 2026-06-30 | 2026-05-06 | $3.00 | Quarterly |
| 2026-03-16 | 2026-03-16 | 2026-03-31 | 2026-02-17 | $3.00 | Quarterly |
| 2025-12-15 | 2025-12-15 | 2025-12-30 | 2025-10-29 | $3.00 | Quarterly |
| 2025-09-15 | 2025-09-15 | 2025-09-30 | 2025-08-26 | $3.00 | Quarterly |
| 2025-06-12 | 2025-06-12 | 2025-06-27 | 2025-05-07 | $3.00 | Quarterly |
| 2025-03-13 | 2025-03-13 | 2025-03-28 | 2025-02-21 | $3.00 | Quarterly |
| 2024-12-13 | 2024-12-13 | 2024-12-30 | 2024-10-30 | $3.00 | Quarterly |
| 2024-09-13 | 2024-09-13 | 2024-09-30 | 2024-08-01 | $3.00 | Quarterly |
| 2024-06-12 | 2024-06-12 | 2024-06-27 | 2024-05-08 | $3.00 | Quarterly |
| 2024-03-12 | 2024-03-13 | 2024-03-28 | 2024-02-23 | $3.00 | Quarterly |
| 2023-12-12 | 2023-12-13 | 2023-12-28 | 2023-11-08 | $3.00 | Quarterly |
| 2023-09-12 | 2023-09-13 | 2023-09-28 | 2023-08-02 | $3.00 | Quarterly |
| 2023-06-13 | 2023-06-14 | 2023-06-29 | 2023-05-02 | $3.00 | Quarterly |
| 2023-03-14 | 2023-03-15 | 2023-03-30 | 2023-02-05 | $3.00 | Quarterly |
| 2022-12-13 | 2022-12-14 | 2022-12-29 | 2022-10-26 | $2.00 | Quarterly |
| 2022-09-13 | 2022-09-14 | 2022-09-29 | 2022-08-03 | $2.00 | Quarterly |
| 2022-07-29 | 2022-08-01 | 2022-08-04 | 2022-07-22 | $13.15 | Special |
| 2022-06-14 | 2022-06-15 | 2022-06-30 | 2022-04-28 | $2.00 | Quarterly |
| 2022-03-15 | 2022-03-16 | 2022-03-31 | 2022-02-18 | $2.00 | Quarterly |
| 2021-12-14 | 2021-12-15 | 2021-12-30 | 2021-10-27 | $2.00 | Quarterly |
| 2021-09-14 | 2021-09-15 | 2021-09-30 | 2021-08-03 | $2.00 | Quarterly |
| 2021-06-14 | 2021-06-15 | 2021-06-30 | 2021-04-28 | $2.00 | Quarterly |
| 2021-03-15 | 2021-03-16 | 2021-03-31 | 2021-02-16 | $2.00 | Quarterly |
| 2020-12-14 | 2020-12-15 | 2020-12-30 | 2020-11-04 | $2.00 | Quarterly |
Coverage (payout of operating cash flow): 66.24%. Tax-character split (ordinary / 199A / capital gain / return of capital) — not disclosed (requires the annual allocation release).
Recent news — PSA
Molina Healthcare Set to Join S&P MidCap 400 and Construction Partners to Join S&P SmallCap 600
Public Storage (PSA) Stock Up 3.1% but GF Value Says Overvalued -- GF Score: 88/100
Is PSA Overvalued? DCF Says Worth $129
Public Storage Announces Anticipated Closing Date of Pending Acquisition of National Storage Affiliates Following Approval by NSA Shareholders
Public Storage Prices Public Offering of $900 Million of Senior Notes at an Effective Interest Rate of 4.855% to Fund the Acquisition of National Storage Affiliates Trust
Public Storage to Release Second Quarter 2026 Earnings Results and Host Quarterly Conference Call
GLPI vs. PSA: Which Stock Should Value Investors Buy Now?
Public Storage: Earn Up To 6% Yield On This Self-Storage King
Headlines via Financial Modeling Prep; links open the original publisher in a new tab. Not an endorsement or investment advice.
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Same-store NOI, occupancy, leasing/WALT, top tenants, external-manager fees, development pipeline and (for non-traded vehicles) share-class fees, redemption/gating and NAV methodology are planned modules sourced from supplementals and prospectuses.