v3.26.3
CONSOLIDATED STATEMENTS OF EQUITY - USD ($)
$ in Thousands
Total
Total Equity
Total Public Storage Shareholders' Equity
Cumulative Preferred Shares
Common Stock
Paid-in Capital
Accumulated Deficit
Accumulated Deficit Including Noncontrolling Interest
Accumulated Deficit, NCI Portion
Accumulated Other Comprehensive Loss (Income)
Parent Including Noncontrolling Interest
Parent, NCI Portion
Noncontrolling Interests
Cumulative Preferred Shares
Cumulative Preferred Shares
Total Public Storage Shareholders' Equity
Cumulative Preferred Shares
Cumulative Preferred Shares
Common Stock
Common Stock
Total Public Storage Shareholders' Equity
Common Stock
Common Stock
Common Stock
Paid-in Capital
PSA OP Common Units
PSA OP Common Units
Noncontrolling Interests
OP Series T-1 Preferred Units
OP Series T-1 Preferred Units
Noncontrolling Interests
Beginning balance at Dec. 31, 2024 $ 9,813,652   $ 9,712,606 $ 4,350,000 $ 17,541 $ 6,116,113 $ (699,083)     $ (71,965)     $ 101,046                      
Increase (Decrease) in Stockholders' Equity [Roll Forward]                                                
Issuance of common shares in connection with share-based compensation                                 $ 9,577 $ 9,577 $ 5 $ 9,572        
Taxes withheld upon net share settlement of restricted share units (3,473)   (3,473)     (3,473)                                    
Share-based compensation cost 33,112   33,112     33,112                                    
Acquisition of noncontrolling interests (9,061)   (8,161)     (8,161)             (900)                      
Contributions by noncontrolling interests 3,725                       3,725                      
Net income 1,286,975 $ 0           $ 1,286,975 $ (9,702)   $ 1,286,975 $ (9,702) 9,702                      
Reallocation of equity 0   (3,997)     (3,997)             3,997                      
Distributions to:                                                
Preferred shareholders (146,029)   (146,029)       (146,029)                                  
Noncontrolling interests (22,593)                       (22,593)                      
Common shareholders, restricted share unitholders and unvested LTIP unitholders (1,582,385)   (1,582,385)       (1,582,385)                                  
Other comprehensive income 23,607   23,600             23,600     7                      
Ending balance at Sep. 30, 2025 9,407,107   9,312,123 4,350,000 17,546 6,143,166 (1,150,224)     (48,365)     94,984                      
Beginning balance at Jun. 30, 2025 9,476,349   9,372,459 4,350,000 17,545 6,131,517 (1,085,142)     (41,461)     103,890                      
Increase (Decrease) in Stockholders' Equity [Roll Forward]                                                
Issuance of common shares in connection with share-based compensation                                 1,732 1,732 1 1,731        
Taxes withheld upon net share settlement of restricted share units (433)   (433)     (433)                                    
Share-based compensation cost 10,366   10,366     10,366                                    
Noncontrolling interests arising from acquisitions 1,041                       1,041                      
Contributions by noncontrolling interests 0                                              
Net income 514,773 0           514,773 (3,710)   514,773 (3,710) 3,710                      
Reallocation of equity 0   (15)     (15)             15                      
Distributions to:                                                
Preferred shareholders (48,678)   (48,678)       (48,678)                                  
Noncontrolling interests (13,668)                       (13,668)                      
Common shareholders, restricted share unitholders and unvested LTIP unitholders (527,467)   (527,467)       (527,467)                                  
Other comprehensive income (6,908)   (6,904)             (6,904)     (4)                      
Ending balance at Sep. 30, 2025 9,407,107   9,312,123 4,350,000 17,546 6,143,166 (1,150,224)     (48,365)     94,984                      
Beginning balance at Dec. 31, 2025 9,341,834   9,248,128 4,350,000 17,550 6,147,650 (1,219,273)     (47,799)     93,706                      
Increase (Decrease) in Stockholders' Equity [Roll Forward]                                                
Issuance of shares in connection with acquisitions                           $ 369,878 $ 369,878 $ 369,878 3,488,787 3,488,787 1,122 3,487,665 $ 2,013,441 $ 2,013,441 $ 14,924 $ 14,924
Issuance of common shares in connection with share-based compensation                                 24,659 24,659 12 24,647        
Sale of OP Options 30,000   30,000     30,000                                    
Taxes withheld upon net share settlement of restricted share units (2,902)   (2,902)     (2,902)                                    
Share-based compensation cost 37,390   37,390     37,390                                    
Acquisition of noncontrolling interests (7,482)   (7,460)     (7,460)             (22)                      
Noncontrolling interests arising from acquisitions 247,336                       247,336                      
Contributions by noncontrolling interests 3,396                       3,396                      
Net income 1,410,661 0           1,410,661 (17,502)   1,410,661 (17,502) 17,502                      
Reallocation of equity 0   1,639,538     1,639,538             (1,639,538)                      
Distributions to:                                                
Preferred shareholders (151,406)   (151,406)       (151,406)                                  
Noncontrolling interests (34,325)                       (34,325)                      
Common shareholders, restricted share unitholders and unvested LTIP unitholders (1,617,058)   (1,617,058)       (1,617,058)                                  
Other comprehensive income 50,826   49,644             49,644     1,182                      
Ending balance at Sep. 30, 2026 15,219,959   14,502,357 4,719,878 18,684 11,356,528 (1,594,578)     1,845     717,602                      
Beginning balance at Jun. 30, 2026 9,285,812   9,190,280 4,350,000 17,562 6,214,483 (1,345,970)     (45,795)     95,532                      
Increase (Decrease) in Stockholders' Equity [Roll Forward]                                                
Issuance of shares in connection with acquisitions                           $ 369,878 $ 369,878 $ 369,878 3,488,787 3,488,787 $ 1,122 3,487,665 $ 2,013,441 $ 2,013,441 $ 14,924 $ 14,924
Issuance of common shares in connection with share-based compensation                                 $ 889 $ 889   $ 889        
Taxes withheld upon net share settlement of restricted share units (42)   (42)     (42)                                    
Share-based compensation cost 11,764   11,764     11,764                                    
Noncontrolling interests arising from acquisitions 247,336                       247,336                      
Contributions by noncontrolling interests 1,527                       1,527                      
Net income 378,348 $ 0           $ 378,348 $ (11,422)   $ 378,348 $ (11,422) 11,422                      
Reallocation of equity 0   1,641,769     1,641,769             (1,641,769)                      
Distributions to:                                                
Preferred shareholders (54,050)   (54,050)       (54,050)                                  
Noncontrolling interests (25,985)                       (25,985)                      
Common shareholders, restricted share unitholders and unvested LTIP unitholders (561,484)   (561,484)       (561,484)                                  
Other comprehensive income 48,814   47,640             47,640     1,174                      
Ending balance at Sep. 30, 2026 $ 15,219,959   $ 14,502,357 $ 4,719,878 $ 18,684 $ 11,356,528 $ (1,594,578)     $ 1,845     $ 717,602