Public Storage (PSA)

In the past six months, Public Storage's stock experienced several notable events. The company reported its third-quarter 2025 earnings on October 29, 2025, with earnings per share topping analyst estimates, though revenue was down year-over-year, and declared its third-quarter 2025 dividends. Earlier in this period, in its second-quarter 2025 results reported on July 31, 2025, Public Storage increased the low end of its 2025 core Funds From Operations (FFO) guidance. Acquisition activities continued to be a focus, with the company acquiring 87 self-storage facilities for $942.2 million by the end of 2025. Despite these operational activities, the stock price has shown a downward trend. On January 7, 2026, Public Storage released a mixed 2025 operating update, indicating modestly higher year-end occupancy but weaker contract rents and move-in revenue across its same-store portfolio. Analysts have also adjusted price targets, with some dropping their objectives in December 2025.

Demand for Public Storage's products and services exhibits clear seasonality. The self-storage industry generally experiences its peak season from late spring through summer, driven by increased moving activity. Conversely, the winter months represent the off-peak season, characterized by a slowdown in move-in volumes. Operators often introduce promotions or discounts during the winter to attract tenants and boost occupancy.

Public Storage (PSA) is a Real Estate Investment Trust (REIT) focused on acquiring, developing, owning, and operating self-storage facilities. The company generates revenue from monthly rental income for self-storage units, including climate-controlled and drive-up access options, and ancillary operations such as the sale of moving and packing supplies, tenant reinsurance products, and third-party self-storage property management. They also offer bridge lending to third-party self-storage owners.

Public Storage operates across 40 U.S. states, owning and/or operating 3,491 self-storage facilities in the United States as of September 30, 2025. The company also has an international presence through a 35% common equity interest in Shurgard Self Storage Limited, which owned 323 self-storage facilities located in seven Western European nations as of September 30, 2025.

Public Storage maintains a strong brand reputation as one of the most established names in the self-storage industry. The company's efforts in leveraging technology, strategic acquisitions, and a robust balance sheet contribute to its positive standing. The company has faced "softer demand and lower operating trends" and "increased industry over-capacity and declining move-in rates" in the broader self-storage market, which could indirectly influence investor perception, but not necessarily the public's direct brand reputation.

Public Storage's ownership is primarily held by institutional investors, who collectively own approximately 77.73% of the stock. Insiders hold about 8.93% of the company's shares, while retail investors account for approximately 13.34%. Significant individual shareholders include B. Wayne Hughes Jr. and Tamara Hughes Gustavson.