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 March 31, 2026, we: (i) owned and/or operated 3,546 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 333 self-storage facilities located in seven Western European countries with approximately 19 million net rentable square feet operated under the Shurgard® brand.
Snapshot
Reported FFO / Core FFO / leverage are from the Q1 2026 earnings release (filed 2026-04-27) — 8-K, EX-99.1.
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.
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
| 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).
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.