Public Storage PSA

What this company does

Public Storage engages in the ownership, development and operation of self-storage facilities, and in related operations including tenant reinsurance, third-party self-storage management and bridge lending to third-party self-storage owners. The company has a physical presence in most major markets and in 40 states. At December 31, 2025, the company held interests in and consolidated 3,171 self-storage facilities, an aggregate of 229 million net rentable square feet of space, operating under the Public Storage name. At December 31, 2025, the company managed 362 facilities for third parties, with approximately 28.2 million net rentable square feet. The company holds a 35% interest in Shurgard Self Storage Limited, a public company traded on Euronext Brussels. The company has approximately 5,770 employees, including 4,920 customer-facing roles, 410 field management employees, and 440 employees in its corporate operations. Public Storage Operating Company, formerly known as Public Storage, was organized in 1980.

Written from the business description in Public Storage's annual report to the U.S. Securities and Exchange Commission, filed 12 February 2026. Every sentence was checked against that document before publication.