Public Storage (PSA)

Public Storage's stock has trended down by 0.41% in the past six months and declined by 16.84% over the past year. On September 26, 2025, the company priced a public offering of €425 million in euro-denominated senior notes to manage debt and support investments. Public Storage reported quarterly earnings on July 30, 2025, announcing $4.28 earnings per share, surpassing estimates, and disclosed a quarterly dividend of $3.00, paid on September 30, 2025.

Demand for Public Storage's products and services typically exhibits seasonality, with demand decreasing during the fall and winter months. Demand is influenced by the economy, new self-storage supply, and alternative storage options. The surge in demand experienced during the COVID-19 pandemic has subsided, leading to increased competition and pricing pressures, and the first quarter is generally considered a "busy season" for the company.

Public Storage's core business involves owning and operating self-storage facilities as a REIT, investing in income-producing real estate. The company offers a variety of storage unit sizes, climate-controlled storage, specialized storage for vehicles, and tailored options for businesses, as well as tenant insurance services.

As of June 30, 2025, Public Storage had interests in over 3,100 self-storage facilities across 40 states in the United States. The company also has an international presence through its equity interest in Shurgard Self Storage, which operates in the European market, and potential for further global expansion with the possible acquisition of Abacus Storage King in Australia and New Zealand.

Public Storage has a strong brand reputation as a market leader in the self-storage industry, fostering customer trust and loyalty through its extensive network and recognized brand presence. Despite its strong reputation, the company's stock performance has been affected by broader market conditions, including a "REIT bear market" that began in 2022.

Public Storage has a diverse ownership structure, including institutional investors, individual shareholders, and company insiders. Institutional investors hold approximately 62.59% of the company's stock, insiders own about 10.18%, and public companies and individual investors account for 27.23%. Vanguard Group Inc. is the largest shareholder, and Tamara Hughes Gustavson owns 9.9% of the company.