Sign in

    Public Storage (PSA)

    Financials

    Updated Feb 24, 2025, 10:17 PM UTC
    Income Statement - MetricFY 2013H1 20149M 2014Q1 2014Q2 2014Q3 2014Q4 2014FY 2014H1 20159M 2015Q1 2015Q2 2015Q3 2015Q4 2015FY 2015H1 20169M 2016Q1 2016Q2 2016Q3 2016Q4 2016FY 2016H1 20179M 2017Q1 2017Q2 2017Q3 2017Q4 2017FY 2017H1 20189M 2018Q1 2018Q2 2018Q3 2018Q4 2018FY 2018H1 20199M 2019Q1 2019Q2 2019Q3 2019Q4 2019FY 2019H1 20209M 2020Q1 2020Q2 2020Q3 2020Q4 2020FY 2020H1 20219M 2021Q1 2021Q2 2021Q3 2021Q4 2021FY 2021H1 20229M 2022Q1 2022Q2 2022Q3 2022Q4 2022FY 2022H1 20239M 2023Q1 2023Q2 2023Q3 2023Q4 2023FY 2023H1 20249M 2024Q1 2024Q2 2024Q3 2024Q4 2024FY 2024
    Revenues - Self-storage facilities (USD, thousands)4,259,613--1,086,0451,099,736.001,110,115.00--
    Revenues - Ancillary operations (USD, thousands)258,077--71,17573,475.0077,643.00--
    Total Revenues (USD, thousands)4,517,690--1,157,2201,173,211.001,187,758.00--
    Expenses - Self-storage cost of operations (USD, thousands)1,061,950--297,414273,501.00287,435.00--
    Expenses - Ancillary cost of operations (USD, thousands)85,996--27,06927,543.0034,265.00--
    Expenses - Depreciation and amortization (USD, thousands)970,056--285,203283,342.00280,330.00--
    Expenses - Real estate acquisition and development expense (USD, thousands)26,451--3,7172,907.002,530.00--
    Expenses - General and administrative (USD, thousands)80,632--21,33626,580.0026,214.00--
    Expenses - Interest expense (USD, thousands)201,132--67,77873,236.0074,252.00--
    Total Expenses (USD, thousands)2,426,217--702,517687,109.00705,026.00--
    Other increases (decreases) to net income - Interest and other income (USD, thousands)85,590--13,96618,253.0020,029.00--
    Other increases (decreases) to net income - Equity in earnings of unconsolidated real estate entity (USD, thousands)27,897--6,0906,480.002,888.00--
    Other increases (decreases) to net income - Foreign currency exchange (loss) gain (USD, thousands)(51,197)--37,54312,449.00(70,572.00)--
    Other increases (decreases) to net income - Gain on sale of real estate (USD, thousands)17,178--8740.00(786.00)--
    Income before income tax expense (USD, thousands)2,170,941--513,176523,284.00435,631.00--
    Income tax expense (USD, thousands)(10,821)--(1,479)(2,075.00)(2,488.00)--
    Net income (USD, thousands)2,160,120--511,697521,209.00433,143.00--
    Allocation to noncontrolling interests (USD, thousands)(11,793)--(2,749)(3,082.00)(2,814.00)--
    Net income allocable to Public Storage shareholders (USD, thousands)2,148,327--508,948518,127.00430,329.00--
    Allocation of net income to Preferred shareholders (USD, thousands)(194,703)--(48,678)(48,673.00)(48,678.00)--
    Allocation of net income to Restricted share units and unvested LTIP units (USD, thousands)(4,883)--(1,061)(1,088.00)(939.00)--
    Net income allocable to common shareholders (USD, thousands)1,948,741--459,209468,366.00380,712.00--
    Net income per common share - Basic (USD)11.11--2.612.672.18--
    Net income per common share - Diluted (USD)11.06--2.602.662.17--
    Basic weighted average common shares outstanding175,472--175,700(115.00)(182.00)--
    Diluted weighted average common shares outstanding176,143--176,350(170.00)(106.00)--
    Balance Sheet - MetricFY 2013H1 20149M 2014Q1 2014Q2 2014Q3 2014Q4 2014FY 2014H1 20159M 2015Q1 2015Q2 2015Q3 2015Q4 2015FY 2015H1 20169M 2016Q1 2016Q2 2016Q3 2016Q4 2016FY 2016H1 20179M 2017Q1 2017Q2 2017Q3 2017Q4 2017FY 2017H1 20189M 2018Q1 2018Q2 2018Q3 2018Q4 2018FY 2018H1 20199M 2019Q1 2019Q2 2019Q3 2019Q4 2019FY 2019H1 20209M 2020Q1 2020Q2 2020Q3 2020Q4 2020FY 2020H1 20219M 2021Q1 2021Q2 2021Q3 2021Q4 2021FY 2021H1 20229M 2022Q1 2022Q2 2022Q3 2022Q4 2022FY 2022H1 20239M 2023Q1 2023Q2 2023Q3 2023Q4 2023FY 2023H1 20249M 2024Q1 2024Q2 2024Q3 2024Q4 2024FY 2024
    Cash and equivalents (USD, thousands)370,002--271,645542,263599,004--
    Land (USD, thousands)5,628,488--5,628,1285,644,0565,652,960--
    Buildings (USD, thousands)21,836,750--21,970,03222,170,78022,441,100--
    Accumulated depreciation (USD, thousands)(9,423,974)--(9,671,521)(9,921,201)(10,172,372)--
    Construction in process (USD, thousands)345,453--389,278380,746310,514--
    Investment in unconsolidated real estate entity (USD, thousands)390,180--389,048374,161397,482--
    Goodwill and other intangible assets, net (USD, thousands)387,267--351,465320,794294,546--
    Other assets (USD, thousands)275,050--289,310277,163279,985--
    Total assets (USD, thousands)19,809,216--19,617,38519,788,76219,803,219--
    Notes payable (USD, thousands)9,103,277--9,067,8909,400,5209,473,778--
    Accrued and other liabilities (USD, thousands)598,993--504,197584,594619,416--
    Total liabilities (USD, thousands)9,702,270--9,572,0879,985,11410,093,194--
    Preferred Shares, at liquidation preference (USD, thousands)4,350,000--4,350,0004,350,0004,350,000--
    Common Shares (USD, thousands)17,567--17,57217,50117,511--
    Paid-in capital (USD, thousands)5,980,760--5,991,6066,006,4606,032,686--
    Accumulated deficit (USD, thousands)(267,910)--(336,003)(592,665)(737,450)--
    Accumulated other comprehensive loss (USD, thousands)(67,239)--(74,513)(74,051)(52,684)--
    Total Public Storage shareholders’ equity (USD, thousands)10,013,178--9,948,6629,707,2459,610,063--
    Noncontrolling interests (USD, thousands)93,768--96,63696,40399,962--
    Total equity (USD, thousands)10,106,946--10,045,2989,803,6489,710,025--
    Total liabilities and equity (USD, thousands)19,809,216--19,617,38519,788,76219,803,219--
    Cash Flow - Metric (Unit, Scale)FY 2013H1 20149M 2014Q1 2014Q2 2014Q3 2014Q4 2014FY 2014H1 20159M 2015Q1 2015Q2 2015Q3 2015Q4 2015FY 2015H1 20169M 2016Q1 2016Q2 2016Q3 2016Q4 2016FY 2016H1 20179M 2017Q1 2017Q2 2017Q3 2017Q4 2017FY 2017H1 20189M 2018Q1 2018Q2 2018Q3 2018Q4 2018FY 2018H1 20199M 2019Q1 2019Q2 2019Q3 2019Q4 2019FY 2019H1 20209M 2020Q1 2020Q2 2020Q3 2020Q4 2020FY 2020H1 20219M 2021Q1 2021Q2 2021Q3 2021Q4 2021FY 2021H1 20229M 2022Q1 2022Q2 2022Q3 2022Q4 2022FY 2022H1 20239M 2023Q1 2023Q2 2023Q3 2023Q4 2023FY 2023H1 20249M 2024Q1 2024Q2 2024Q3 2024Q4 2024FY 2024
    Adjustments for Non-Cash Items [USD, Thousands]1,084,472--264,711327,305290,647191,9671,074,630
    Stock-Based Compensation [USD, Thousands]41,566--10,34710,82710,92712,64644,747
    Changes in Working Capital [USD, Thousands]18,901--(100,363)87,183,29858,562(29,785)
    Capital Expenditures (CapEx) [USD, Thousands]460,137--104,480102,012110,36-964,406(746,878)
    Proceeds from / Repayments of Debt [USD, Thousands]2,173,014--7,764334,816-31-32342,517
    Share Repurchases [USD, Thousands]---200,000---(200,000)
    Dividend Payments [USD, Thousands]2,305,322--576,792574,602574,852-4,028,181(2,301,935)
    Net Change in Cash [USD, Thousands](404,782)--(98,193)271,27425,548-151,58847,041
    Revenue by Segment - in Millions of USDFY 2013H1 20149M 2014Q1 2014Q2 2014Q3 2014Q4 2014FY 2014H1 20159M 2015Q1 2015Q2 2015Q3 2015Q4 2015FY 2015H1 20169M 2016Q1 2016Q2 2016Q3 2016Q4 2016FY 2016H1 20179M 2017Q1 2017Q2 2017Q3 2017Q4 2017FY 2017H1 20189M 2018Q1 2018Q2 2018Q3 2018Q4 2018FY 2018H1 20199M 2019Q1 2019Q2 2019Q3 2019Q4 2019FY 2019H1 20209M 2020Q1 2020Q2 2020Q3 2020Q4 2020FY 2020H1 20219M 2021Q1 2021Q2 2021Q3 2021Q4 2021FY 2021H1 20229M 2022Q1 2022Q2 2022Q3 2022Q4 2022FY 2022H1 20239M 2023Q1 2023Q2 2023Q3 2023Q4 2023FY 2023H1 20249M 2024Q1 2024Q2 2024Q3 2024Q4 2024FY 2024
    Self-Storage Operations4,259.613--1,086.051,099.7361,110.11,100.114,396
    - Same Store Facilities3,427.867---921.658--3,677
    - Acquired Facilities450.653---59.744--241
    - Newly Developed and Expanded Facilities262.450---55.577--226
    - Other Non-Same Store Facilities118.643---62.757--252
    Ancillary Operations258.077--71.1873.47577.677.75300
    - Tenant Reinsurance Premiums---54.1255.90458.158.88227
    - Merchandise Sales---6.597.2876.96.2227
    - Third Party Property Management---10.4710.28412.612.6546
    - Commercial--------
    Total Revenue4,517.690--1,157.221,173.2111,187.81,177.774,696
    Revenue by Geography - in Millions of USDFY 2013H1 20149M 2014Q1 2014Q2 2014Q3 2014Q4 2014FY 2014H1 20159M 2015Q1 2015Q2 2015Q3 2015Q4 2015FY 2015H1 20169M 2016Q1 2016Q2 2016Q3 2016Q4 2016FY 2016H1 20179M 2017Q1 2017Q2 2017Q3 2017Q4 2017FY 2017H1 20189M 2018Q1 2018Q2 2018Q3 2018Q4 2018FY 2018H1 20199M 2019Q1 2019Q2 2019Q3 2019Q4 2019FY 2019H1 20209M 2020Q1 2020Q2 2020Q3 2020Q4 2020FY 2020H1 20219M 2021Q1 2021Q2 2021Q3 2021Q4 2021FY 2021H1 20229M 2022Q1 2022Q2 2022Q3 2022Q4 2022FY 2022H1 20239M 2023Q1 2023Q2 2023Q3 2023Q4 2023FY 2023H1 20249M 2024Q1 2024Q2 2024Q3 2024Q4 2024FY 2024
    Los Angeles---138.217-139.687-555.53
    San Francisco---62.185-64.118-253.19
    New York---51.475-52.576-208.18
    Washington DC---45.969-47.911-188.32
    Miami---45.208-45.605-181.58
    Dallas-Ft. Worth---41.555-41.581-165.40
    Seattle-Tacoma---37.773-39.193-154.20
    Houston---36.953-37.778-149.67
    Chicago---40.195-41.576-163.81
    Atlanta---29.161-28.483-114.19
    Orlando-Daytona---19.904-19.807-79.09
    West Palm Beach---19.132-19.107-76.48
    Philadelphia---18.587-18.590-74.06
    Baltimore---15.878-16.139-63.97
    Tampa--------
    Charlotte---15.905-15.995-63.61
    All other markets---294.988-298.169-1,185.36
    - United States--------
    - Europe--------
    Total Revenue---913.085-926.315-3,676.63
    KPIs - Metric (Unit, Scale)FY 2013H1 20149M 2014Q1 2014Q2 2014Q3 2014Q4 2014FY 2014H1 20159M 2015Q1 2015Q2 2015Q3 2015Q4 2015FY 2015H1 20169M 2016Q1 2016Q2 2016Q3 2016Q4 2016FY 2016H1 20179M 2017Q1 2017Q2 2017Q3 2017Q4 2017FY 2017H1 20189M 2018Q1 2018Q2 2018Q3 2018Q4 2018FY 2018H1 20199M 2019Q1 2019Q2 2019Q3 2019Q4 2019FY 2019H1 20209M 2020Q1 2020Q2 2020Q3 2020Q4 2020FY 2020H1 20219M 2021Q1 2021Q2 2021Q3 2021Q4 2021FY 2021H1 20229M 2022Q1 2022Q2 2022Q3 2022Q4 2022FY 2022H1 20239M 2023Q1 2023Q2 2023Q3 2023Q4 2023FY 2023H1 20249M 2024Q1 2024Q2 2024Q3 2024Q4 2024FY 2024
    Number of self-storage facilities owned (count)3,044--3,0453,0493,053--
    Total net rentable square feet of self-storage facilities owned (thousands of square feet)218,071--218,400218,840219,509--
    Number of self-storage facilities managed for third parties (count)--------
    Number of same store facilities (count)2,339--2,5072,5072,507--
    Square foot occupancy for same store facilities (weighted average) (percentage)93.3%--92.1%93.0%92.7%--
    Square foot occupancy for same store facilities at period end (percentage)91.6%--91.9%92.7%91.4%--
    Realized annual rental income per occupied square foot for same store facilities (USD per square foot annually)--------
    Number of newly developed and expanded facilities (count)145--123126127--
    Square foot occupancy for newly developed and expanded facilities (percentage)79.3%--78.0%81.6%81.3%--
    Annual contract rent per occupied square foot for newly developed and expanded facilities (USD per square foot annually)18.67--18.5418.4218.27--
    Number of acquired facilities (count)470--238240243--
    Square foot occupancy for acquired facilities (percentage)82.1%--83.6%86.4%86.8%--
    Annual contract rent per occupied square foot for acquired facilities (USD per square foot annually)$17.41--$16.16$16.10$16.00--
    Number of self-storage facilities in Shurgard (count)275--275281315--
    Total net rentable square feet of self-storage facilities in Shurgard (million square feet)15--161617--
    Average annual contract rent per square foot for tenants moving in (USD per square foot annually)--------
    Square footage of tenants moving in (thousands of square feet)110.96--29.6430.8730.76--
    Average annual contract rent per square foot for tenants moving out (USD per square foot annually)21.34--20.7820.9320.81--
    Square footage of tenants moving out (thousands of square feet)111.882--28.57229.57632.864--