Public Storage
(NYSE:PSA)

Public Storage, a member of the S&P 500 and FT Global 500, is a REIT that primarily acquires, develops, owns and operates self-storage facilities. At September 30, 2020, we had: (i) interests in 2,504 self-storage facilities located in 38 states with approximately 171 million net rentable square fee...

Website: http://www.publicstorage.com

Founded: 1972

Full Time Employees: 5,900

Sector: Real Estate

Industry: REIT-Industrial

REIT

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At a glance:

Bull Thesis:

Bear Thesis:

Main Competitors:

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Income Statements:

Quarterly

Annual

Unit: USD	2026-03-31	2025-12-31	2025-09-30	2025-06-30	2025-03-31	2024-12-31	2024-09-30	2024-06-30	2024-03-31	2023-12-31	2023-09-30	2023-06-30	2023-03-31	2022-12-31	2022-09-30	2022-06-30	2022-03-31	2021-12-31	2021-09-30	2021-06-30	2021-03-31	2020-12-31	2020-09-30	2020-06-30	2020-03-31	2019-12-31	2019-09-30	2019-06-30	2019-03-31	2018-12-31	2018-09-30	2018-06-30	2018-03-31	2017-12-31	2017-09-30	2017-06-30	2017-03-31	2016-12-31	2016-09-30	2016-06-30	2016-03-31	2015-12-31	2015-09-30	2015-06-30	2015-03-31	2014-09-30	2014-06-30	2014-03-31	2013-09-30	2013-06-30	2013-03-31	2012-09-30	2012-06-30	2012-03-31	2011-12-31	2011-09-30	2011-06-30	2011-03-31	2010-09-30	2010-09-29	2010-06-30	2010-03-31

revenues:
self-storage facilities	1,128,125,000	1,128,920,000	1,138,837,000	1,118,658,000	1,102,998,000	1,100,097,000	1,110,115,000	1,099,736,000	1,086,045,000	1,092,588,000	1,078,721,000	1,056,120,000	1,032,184,000	1,028,353,000	1,027,374,000	973,286,000	917,015,000	869,716,000	840,510,000	776,993,000	716,347,000	698,938,000	683,949,000	664,542,000	674,201,000	677,027,000	687,778,000	669,339,000	650,408,000	654,248,000	666,616,000	645,206,000	631,537,000	634,218,000	646,238,000	624,199,000	607,778,000	613,698,000	623,157,000	594,387,000	574,586,000	572,884,000	580,976,000	551,028,000	530,637,000	534,271,000	500,803,000	485,587,000	477,978,000	451,576,000	439,665,000	440,918,000	420,466,000	407,688,000			395,378,000	385,135,000			373,858,000	364,682,000
ancillary operations	89,616,000	86,872,000	85,206,000	82,436,000	80,186,000	77,330,000	77,643,000	73,475,000	71,175,000	67,280,000	65,099,000	63,650,000	62,048,000	60,189,000	60,757,000	58,759,000	56,430,000	54,600,000	54,421,000	52,322,000	50,915,000	60,106,000	46,708,000	44,743,000	41,881,000	40,472,000	41,558,000	41,611,000	38,630,000	38,212,000	39,752,000	40,322,000	38,387,000	38,090,000	40,123,000	40,113,000	37,769,000	37,729,000	39,991,000	39,801,000	37,200,000	36,446,000	37,896,000	41,603,000	38,757,000	37,325,000	37,234,000	34,037,000	33,979,000	33,802,000	31,235,000	32,013,000	31,733,000	29,276,000			28,891,000	26,915,000			27,077,000	25,158,000
total revenues	1,217,741,000																																																						1,507,045,200	390,001,000			365,090,000	365,090,000
yoy																																																							312.79%	6.82%
qoq																																																							286.42%				0.00%
expenses:
self-storage cost of operations	305,679,000	296,702,000	294,465,000	284,717,000	301,154,000	278,370,000	287,435,000	273,501,000	297,414,000	267,872,000	267,785,000	257,678,000	268,615,000	241,256,000	255,470,000	237,989,000	245,494,000	220,331,000	216,999,000	202,595,000	212,105,000	179,726,000	206,067,000	213,825,000	207,925,000	162,471,000	200,369,000	196,083,000	193,656,000	150,031,000	183,637,000	179,876,000	182,187,000	141,145,000	173,315,000	171,195,000	171,978,000	134,450,000	165,905,000	157,687,000	159,863,000	125,618,000	152,010,000	147,826,000	161,242,000	146,979,000	142,427,000	156,068,000	136,751,000	132,137,000	140,993,000	127,367,000
ancillary cost of operations	34,264,000	32,571,000	36,385,000	33,288,000	30,693,000	32,404,000	34,265,000	27,543,000	27,069,000	22,959,000	21,159,000	22,202,000	19,676,000	18,401,000	21,572,000	17,210,000	15,515,000	16,524,000	19,735,000	15,991,000	16,318,000	25,798,000	11,394,000	11,782,000	10,945,000	10,113,000	11,893,000	11,653,000	10,545,000	10,343,000	11,907,000	11,101,000	10,640,000	10,734,000	17,304,000	11,383,000	10,924,000	10,716,000	12,722,000	14,317,000	13,423,000	12,091,000	12,676,000	14,406,000	11,920,000	13,014,000	8,127,000	18,451,000	11,052,000	10,434,000	9,396,000	9,857,000			-7,076,000	-9,793,000			-7,091,000	-7,091,000
depreciation and amortization	290,723,000	295,545,000	290,364,000	283,216,000	282,715,000	280,891,000	280,330,000	283,342,000	285,203,000	287,525,000	238,748,000	222,133,000	221,650,000	226,538,000	220,772,000	218,708,000	222,128,000	205,289,000	188,552,000	172,728,000	146,859,000	141,406,000	138,333,000	137,618,000	135,900,000	134,885,000	129,233,000	126,859,000	121,941,000	121,374,000	124,516,000	119,777,000	117,979,000	120,100,000	113,320,000	110,177,000	110,929,000	111,741,000	109,432,000	107,013,000	105,128,000	106,307,000	106,082,000	106,473,000	107,146,000	111,077,000	106,443,000	109,021,000	96,537,000	90,937,000	91,001,000	89,897,000	88,533,000	86,938,000			89,186,000	88,542,000			85,039,000	84,828,000
real estate acquisition and development expense	2,428,000	6,752,000	2,837,000	2,538,000	7,423,000	6,352,000	2,530,000	2,907,000	3,717,000
general and administrative	30,351,000	26,988,000	28,783,000	25,727,000	25,184,000	32,547,000	26,214,000	26,580,000	21,336,000	1,029,000	28,625,000	25,434,000	25,544,000	33,341,000	29,501,000	28,831,000	23,069,000	22,258,000	31,682,000	27,740,000	19,574,000	20,553,000	21,288,000	20,294,000	21,064,000	20,308,000	16,908,000	15,264,000	19,503,000	28,442,000	27,429,000	31,329,000	31,520,000	20,551,000	22,311,000	14,992,000	25,028,000	20,148,000	22,140,000	18,321,000	23,047,000	19,456,000	23,573,000	20,988,000	24,160,000	17,874,000	15,377,000	18,989,000	17,650,000	14,085,000	18,253,000	15,298,000	12,414,000	16,405,000			12,593,000	14,235,000			10,081,000	10,077,000
interest expense	80,018,000	81,185,000	79,692,000	71,609,000	72,009,000	72,135,000	74,252,000	73,236,000	67,778,000	68,602,000	58,350,000	38,079,000	36,101,000	36,141,000	34,113,000	32,941,000	33,124,000	29,794,000	23,736,000	21,994,000	15,250,000	14,235,000	14,282,000	14,145,000	13,621,000	12,647,000	12,597,000	12,254,000	8,143,000	57,131,000	-8,094,000	-8,388,000	-8,107,000	-8,137,000	-2,389,000	-1,116,000	-1,048,000	-900,000	-1,221,000	-1,378,000	-711,000					-1,238,000	-2,063,000	-3,480,000	-478,000	-647,000	-3,497,000	-4,926,000	5,067,000	5,334,000	-4,694,750	-5,862,000	5,933,000	6,984,000	-7,838,000	-7,838,000	7,278,000	7,339,000
total expenses	743,463,000
operating income	474,278,000																													257,480,500	358,879,000	343,445,000	327,598,000	379,778,000	360,111,000	356,565,000	326,688,000	374,372,000	352,949,000	336,850,000	310,325,000	345,858,000	324,531,000	302,938,000	264,926,000	282,652,000	265,663,000	217,095,000	249,967,000	237,785,000	211,257,000	230,512,000
yoy																														-32.20%	-0.34%	-3.68%	0.28%	1.44%	2.03%	5.85%	5.27%	8.24%	8.76%	11.19%	17.14%	22.36%	22.16%	39.54%	5.98%	18.87%	25.75%	-5.82%
qoq																														-28.25%	4.49%	4.84%	-13.74%	5.46%	0.99%	9.15%	-12.74%	6.07%	4.78%	8.55%	-10.27%	6.57%	7.13%	14.35%	-6.27%	6.39%	22.37%	-13.15%	5.12%	12.56%	-8.35%
operating margin %	38.95%	NaN%	NaN%	NaN%	NaN%	NaN%	NaN%	NaN%	NaN%	NaN%	NaN%	NaN%	NaN%	NaN%	NaN%	NaN%	NaN%	NaN%	NaN%	NaN%	NaN%	NaN%	NaN%	NaN%	NaN%	NaN%	NaN%	NaN%	NaN%	Infinity%	Infinity%	Infinity%	Infinity%	Infinity%	Infinity%	Infinity%	Infinity%	Infinity%	Infinity%	Infinity%	Infinity%	Infinity%	Infinity%	Infinity%	Infinity%	Infinity%	Infinity%	Infinity%	Infinity%	Infinity%	Infinity%	Infinity%	NaN%	NaN%	0%	0%	NaN%	NaN%	0%	0%	NaN%	NaN%
other increases (decreases) to net income:
interest and other income	7,778,000	16,064,000	21,012,000	12,789,000	13,234,000	14,964,000	20,029,000	18,253,000	13,966,000	16,209,000	32,295,000	18,452,000	18,634,000	14,173,000	12,736,000	10,279,000	3,379,000	2,985,000	3,356,000	3,113,000	2,852,000	2,799,000	7,214,000	5,831,000	6,479,000	6,424,000	6,465,000	8,582,000	6,965,000	7,550,000	7,020,000	6,328,000	5,544,000	6,049,000	4,569,000	4,155,000	3,998,000	3,524,000	3,750,000	4,028,000	3,836,000	5,035,000	3,659,000	934,000	672,000	749,000	1,000,000	2,402,000	5,608,000	5,516,000	5,581,000	5,444,000	5,540,000	5,655,000	6,304,500	6,875,000	10,575,000	7,768,000	6,775,000	6,775,000	7,032,000	8,216,000
equity in earnings of unconsolidated real estate entity	6,836,000					3,864,500	2,888,000	6,480,000
foreign currency exchange gain	41,673,000	-1,717,000	899,000	-146,070,000	-68,695,000	122,824,000	-70,572,000	12,449,000	37,543,000	-71,121,000	47,880,000	-1,096,000	-26,860,000	-138,956,000	100,170,000	101,723,000	35,377,000	38,203,000	40,906,000	-12,707,000	45,385,000	-45,703,000	-41,900,000	-19,295,000	8,945,000	-10,318,000	15,574,000	-5,218,000	7,791,000	5,379,000	2,612,000	21,944,000				-25,440,000				8,632,000						-3,012,000	-1,675,000		16,094,000	5,924,000	-12,737,000	9,019,000	-23,657,000	12,157,000	3,373,750	-28,253,000	10,496,000	31,252,000	55,455,000	55,455,000	-49,204,000
gain on sale of real estate	379,000	403,000	502,000	163,000	45,000	109,000	554,000		874,000	17,090,000	88,000				1,503,000				279,000	3,991,000	9,413,000	376,000			1,117,000			341,000		36,078,000	1,401,000		424,000
income before income taxes	530,944,000
income tax benefit	-1,569,000
net income	529,375,000	510,057,000	514,773,000	361,411,000	410,791,000	618,361,000	433,143,000	521,209,000	511,697,000	441,897,000	616,643,000	581,165,000	520,415,000	414,934,000	2,778,152,000	656,893,000	516,295,000	622,019,000	491,628,000	411,730,000	434,262,000	352,432,000	325,847,000	315,812,000	367,136,000	387,097,000	399,420,000	371,456,000	367,678,000	587,906,000	379,589,000	405,292,000	344,436,000	390,963,000	358,274,000	355,207,000	344,021,000	415,681,000	369,050,000	358,359,000	317,349,000	365,259,000	341,136,000	328,040,000	283,254,000	294,977,000	278,279,000	228,273,000	285,628,000	261,679,000	212,247,000	264,819,000	198,931,000	206,722,000	722,421,800	191,022,000	210,941,000	210,568,000	169,788,000	169,788,000	131,176,000	129,917,000
yoy	28.87%	-17.51%	18.85%	-30.66%	-19.72%	39.93%	-29.76%	-10.32%	-1.68%	6.50%	-77.80%	-11.53%	0.80%	-33.29%	465.09%	59.54%	18.89%	76.49%	50.88%	30.37%	18.28%	-8.96%	-18.42%	-14.98%	-0.15%	-34.16%	5.22%	-8.35%	6.75%	50.37%	5.95%	14.10%	0.12%	-5.95%	-2.92%	-0.88%	8.40%	13.80%	8.18%	9.24%	12.04%	23.83%	22.59%	43.71%	-0.83%	12.72%	31.11%	-13.80%	43.58%	26.58%	-70.62%	38.63%	-5.69%	-1.83%	325.48%	12.51%	60.81%	62.08%
qoq	3.79%	-0.92%	42.43%	-12.02%	-33.57%	42.76%	-16.90%	1.86%	15.80%	-28.34%	6.10%	11.67%	25.42%	-85.06%	322.92%	27.23%	-17.00%	26.52%	19.41%	-5.19%	23.22%	8.16%	3.18%	-13.98%	-5.16%	-3.09%	7.53%	1.03%	-37.46%	54.88%	-6.34%	17.67%	-11.90%	9.12%	0.86%	3.25%	-17.24%	12.64%	2.98%	12.92%	-13.12%	7.07%	3.99%	15.81%	-3.97%	6.00%	21.91%	-20.08%	9.15%	23.29%	-19.85%	33.12%	-3.77%	-71.38%	278.19%	-9.44%	0.18%	24.02%	0.00%	29.44%	0.97%
net income margin %	43.47%	Infinity%	Infinity%	Infinity%	Infinity%	Infinity%	Infinity%	Infinity%	Infinity%	Infinity%	Infinity%	Infinity%	Infinity%	Infinity%	Infinity%	Infinity%	Infinity%	Infinity%	Infinity%	Infinity%	Infinity%	Infinity%	Infinity%	Infinity%	Infinity%	Infinity%	Infinity%	Infinity%	Infinity%	Infinity%	Infinity%	Infinity%	Infinity%	Infinity%	Infinity%	Infinity%	Infinity%	Infinity%	Infinity%	Infinity%	Infinity%	Infinity%	Infinity%	Infinity%	Infinity%	Infinity%	Infinity%	Infinity%	Infinity%	Infinity%	Infinity%	Infinity%	Infinity%	Infinity%	47.94%	48.98%	Infinity%	Infinity%	46.51%	46.51%	Infinity%	Infinity%
allocation to noncontrolling interests	-3,102,000	-2,982,000	-3,710,000	-2,992,000	-3,000,000	-3,754,000	-2,814,000	-3,082,000	-2,749,000	-2,605,000	-3,345,000	-3,136,000	-2,707,000	-2,574,000	-9,158,000	-3,043,000	-2,352,000	-2,309,000	-1,537,000	-1,304,000	-1,226,000	-1,165,000	-980,000	-889,000	-980,000	-1,082,000	-1,478,000	-1,400,000	-1,157,000	-1,701,000	-1,562,000	-1,490,000	-1,439,000	-1,564,000	-1,600,000	-1,505,000	-1,579,000	-1,942,000	-1,745,000	-1,700,000	-1,476,000	-1,769,000	-1,568,000	-1,635,000	-1,473,000	-1,518,000	-1,445,000	-1,077,000	-1,430,000	-1,216,000	-1,024,000	-927,000
net income allocable to public storage shareholders	526,273,000	507,075,000	511,063,000	358,419,000	407,791,000	614,607,000	430,329,000	518,127,000	508,948,000	439,292,000	613,298,000	578,029,000	517,708,000	412,360,000	2,768,994,000	653,850,000	513,943,000	619,710,000	490,091,000	410,426,000	433,036,000	351,267,000	324,867,000	314,923,000	366,156,000	386,015,000	397,942,000	370,056,000	366,521,000	586,205,000	378,027,000	403,802,000	342,997,000	389,399,000	356,674,000	353,702,000	342,442,000	413,739,000	367,305,000	356,659,000	315,873,000	363,490,000	339,568,000	326,405,000	281,781,000	293,459,000	276,834,000	227,196,000	284,198,000	260,463,000	211,223,000	263,892,000	198,143,000	205,852,000			206,444,000	206,108,000			125,038,000	123,961,000
allocation of net income to:
preferred shareholders	-48,678,000	-48,674,000	-48,678,000	-48,673,000	-48,678,000	-48,674,000	-48,678,000	-48,673,000	-48,678,000	-48,674,000	-48,678,000	-48,673,000	-48,678,000	-48,674,000	-48,678,000	-48,673,000	-48,365,000	-48,079,000	-46,237,000	-46,183,000	-46,080,000															-61,281,000	-60,121,000	-59,548,000	-57,178,000	-59,216,000	-62,272,000	-59,031,000	-61,062,000	-61,449,000	-63,555,000	-60,763,000	-57,672,000
restricted share units and unvested ltip units	-807,000	-1,422,000	-977,000	-778,000	-883,000	-1,535,000	-939,000	-1,088,000	-1,061,000
net income allocable to common shareholders	476,788,000	456,979,000	461,408,000	308,968,000	358,230,000	564,398,000	380,712,000	468,366,000	459,209,000	389,657,000	563,237,000	528,259,000	467,588,000	362,622,000	2,712,161,000	603,381,000	464,124,000	558,058,000	442,327,000	346,249,000	385,810,000	292,166,000	246,916,000	246,119,000	313,134,000	327,251,000	337,362,000	306,411,000	301,743,000	530,102,000	322,679,000	348,300,000	287,819,000	334,080,000	279,717,000	276,681,000	281,131,000	352,812,000	308,957,000	280,775,000	241,335,000	303,003,000	273,508,000	263,926,000	212,613,000	231,815,000	218,352,000	174,052,000	231,361,000	207,685,000	161,936,000	202,465,000
net income per common share:
basic	2,720	2,610	2,630	1,760	2,040	3,220	2,170	2,670	2,610	2,220	3,210	3,010	2,670	2,070	15,470	3,440	2,650	3,190	2,530	1,980	2,210	1,670	1,410	1,410	1,800	1,870	1,940	1,760	1,730	3,050	1,850	2,000	1,660	1,920	1,610	1,590	1,620	2,040	1,780	1,620	1,400	1,760	1,580	1,530
diluted	2,710	2,590	2,620	1,760	2,040	3,210	2,160	2,660	2,600	2,210	3,200	3,000	2,650	2,060	15,380	3,420	2,630	3,170	2,520	1,970	2,210	1,670	1,410	1,410	1,790	1,870	1,930	1,760	1,730	3,040	1,850	2,000	1,650	1,920	1,610	1,590	1,620	2,030	1,780	1,610	1,390	1,750	1,580	1,520
basic weighted-average common shares outstanding	175,519,000	175,447,000	175,456,000	175,442,000	175,419,000	175,351,000	175,043,000	175,469,000	175,700,000	175,472,000	175,499,000	175,484,000	175,451,000	175,257,000	175,283,000	175,229,000	175,170,000	174,858,000	174,926,000	174,824,000	174,611,000	174,494,000	174,503,000	174,493,000	174,446,000	174,287,000	174,334,000	174,253,000	174,177,000	173,969,000	173,975,000	173,932,000	173,892,000	173,613,000	173,715,000	173,602,000	173,364,000	173,091,000	173,108,000	173,087,000	172,977,000	172,699,000	172,771,000	172,629,000	172,520,000	172,378,000	172,282,000	171,910,000	171,721,000	171,625,000	171,446,000		170,496,000	170,309,000			169,492,000	169,315,000			168,804,000	168,477,000
diluted weighted-average common shares outstanding	175,928,000	175,902,000	175,884,000	175,921,000	175,942,000	176,038,000	175,866,000	176,009,000	176,350,000	176,143,000	176,150,000	176,212,000	176,228,000	176,280,000	176,328,000	176,312,000	176,336,000	175,568,000	175,806,000	175,547,000	174,840,000	174,642,000	174,626,000	174,575,000	174,616,000	174,530,000	174,611,000	174,542,000	174,376,000	174,297,000	174,348,000	174,224,000	174,148,000	174,151,000	174,240,000	174,075,000	174,069,000	173,878,000	173,848,000	174,000,000	173,850,000	173,510,000	173,529,000	173,387,000	173,366,000		173,181,000	172,809,000	172,793,000	172,647,000	172,514,000		171,560,000	171,415,000			170,401,000	170,382,000			169,629,000	169,310,000
revenues: - sum		902,080,250	1,224,043,000	1,201,094,000	1,183,184,000	1,177,427,000	1,187,758,000	1,173,211,000	1,157,220,000	1,159,868,000	1,143,820,000	1,119,770,000	1,094,232,000	1,088,542,000	1,088,131,000	1,032,045,000	973,445,000	924,316,000	894,931,000	829,315,000	767,262,000	759,044,000	730,657,000	709,285,000	716,082,000	717,499,000	729,336,000	710,950,000																									457,739,000	442,619,000			434,844,000	419,818,000			407,967,000	398,056,000
expenses: - sum		538,199,750	732,526,000	701,095,000	719,178,000	702,699,000	705,026,000	687,109,000	702,517,000	674,438,000	614,667,000	565,526,000	571,586,000	555,677,000	561,428,000	535,679,000	539,330,000	494,196,000	480,704,000	441,048,000	410,106,000	381,718,000	391,364,000	397,664,000	389,455,000	340,424,000	371,000,000	362,113,000
equity in earnings of unconsolidated real estate entities		1,267,750	3,674,000	-2,230,000	3,627,000				6,090,000	5,110,000	7,227,000	9,565,000	5,995,000	6,852,000	8,180,000	48,525,000	43,424,000	150,711,000	32,860,000	29,066,000	19,456,000	17,634,000	21,240,000	17,655,000	23,968,000	13,916,000	19,045,000	18,914,000	17,672,000	12,966,000	17,771,000	41,963,000	30,795,000	18,420,000	17,218,000	20,068,000	19,949,000	15,128,000	17,237,000	10,227,000	14,164,000	14,670,000	12,603,000	7,480,000	16,184,000		14,135,000	14,604,000	14,269,000	13,101,000	11,643,000	12,642,000	8,596,000	9,115,000
income before income tax expense		323,618,000	517,604,000	364,651,000	412,217,000	616,988,000	435,631,000	523,284,000	513,176,000
income tax expense		-1,874,250	-2,831,000	-3,240,000	-1,426,000	1,373,000	-2,488,000	-2,075,000	-1,479,000
other increases to net income:
gain on sale of equity investment in ps business parks, inc.															2,128,860,000
restricted share units										-961,000	-1,383,000	-1,097,000	-1,442,000	-1,064,000	-8,155,000	-1,796,000	-1,454,000	-1,648,000	-1,527,000	-1,005,000	-1,146,000	-999,000	-746,000	-783,000	-1,017,000	-997,000	-1,406,000	-1,259,000	-1,233,000	-2,025,000	-1,268,000	-1,425,000	-1,097,000	-1,241,000	-1,210,000	-1,102,000	-1,190,000	-1,379,000	-1,170,000	-1,131,000	-930,000	-1,456,000	-885,000	-1,030,000	-829,000	-881,000	-810,000	-637,000	-930,000	-871,000	-697,000		463,000	514,000			391,000	432,000			259,000	238,000
preferred shareholders - redemptions																		-11,925,000		-16,989,000		-9,883,000	-23,313,000	-15,069,000		-6,153,000	-9,146,000	-8,861,000	-8,533,000						-14,692,000	-14,638,000				-15,537,000	-11,336,000		-4,113,000		-4,784,000
preferred shareholders - distributions																						-48,219,000	-53,892,000	-52,952,000	-52,005,000	-51,614,000	-50,028,000	-53,525,000	-55,012,000	-54,078,000	-54,080,000	-54,077,000	-54,081,000	-54,078,000	-61,055,000													-52,507,000	-51,907,000	-51,907,000	-48,590,000
casualty loss																																			-7,789,000
foreign currency exchange loss																																	-11,818,000	-11,113,000	-13,446,000		-5,566,000	-1,496,750	-3,665,000		-10,954,000							-2,348,000														-34,843,000
gain on real estate investment sales																																		446,000		975,000					689,000
gain on real estate sales																																											343,000	16,688,000	1,472,000	1,260,000	1,219,000		168,000				1,263,000
cash dividends declared per common share																																										1,200	1,700	1,700	1,400	1,400	1,400	1,400	1,250	1,250	1,250	1,100
net income allocable to common shareholders per common share:
basic																																													1,230		1,270	1,010
diluted																																													1,230		1,260	1,010
equity in earnings of unconsolidated real
estate entities																																														14,566,000
per common share:
basic																																														1,340
diluted																																														1,340
diluted weighted-average common shares
outstanding																																														173,304,000
income from continuing operations																																																	285,628,000	261,679,000	212,247,000	252,884,000	198,791,000	206,722,000			210,941,000	210,923,000			126,744,000	129,141,000
discontinued operations																																																				11,935,000	140,000		279,500	1,392,000		-355,000	2,707,000	2,707,000	4,432,000	776,000
net income per common share – basic
continuing operations																																																	1,350	1,210	940	1,120	780	740			780	870			330	210
net income per common share – diluted
operating revenues:
operating revenues: - sum																																																				472,931,000
operating expenses:
asset impairment charges																																																							-546,500	-2,186,000					-1,338,000	-1,008,000
operating expenses: - sum																																																				242,419,000
gain on real estate sales and debt retirement																																																				193,000
allocation to preferred shareholders - distributions																																																				-49,267,000
allocation to preferred shareholders - redemptions																																																				-11,350,000
allocation to restricted share units																																																				-810,000
net income per common share
basic	2,720	2,610	2,630	1,760	2,040	3,220	2,170	2,670	2,610	2,220	3,210	3,010	2,670	2,070	15,470	3,440	2,650	3,190	2,530	1,980	2,210	1,670	1,410	1,410	1,800	1,870	1,940	1,760	1,730	3,050	1,850	2,000	1,660	1,920	1,610	1,590	1,620	2,040	1,780	1,620	1,400	1,760	1,580	1,530
continuing operations																																																	1,350	1,210	940	1,120	780	740			780	870			330	210
diluted
weighted-average common shares outstanding
basic																																																				170,576,000
diluted																																																				171,700,000
cost of operations:
cost of operations: - sum																																																					245,150,000	257,169,000			247,099,000	254,061,000			239,815,000	243,358,000
income from continuing operations before equity in earnings of unconsolidated real estate entities, foreign currency exchange gain, and gain on real estate sales																																																					212,589,000	185,450,000
net income allocated to noncontrolling interests																																																					-788,000	-870,000
allocation of net income to public storage shareholders:
preferred shareholders based on distributions paid																																																					51,910,000	55,095,000			58,639,000	57,617,000			58,879,000	58,108,000
preferred shareholders based on redemptions																																																					13,427,000	24,900,000			15,899,000
common shareholders																																																					132,343,000	125,343,000			131,515,000	148,059,000			60,837,000	34,738,000
allocation of net income to public storage shareholders: - sum																																																					198,143,000	205,852,000			206,444,000	206,108,000
net operating income:
same store facilities																																																							188,720,750	269,476,000			245,668,000	245,668,000
other facilities																																																							11,859,750	17,652,000			16,062,000	16,062,000
total net operating income from self-storage																																																							200,580,500	287,128,000			261,730,000	261,730,000
depreciation and amortization expense:
total depreciation and amortization expense from self-storage																																																							-66,653,500	-90,276,000			-91,993,000	-91,993,000
net income:
total net income from self-storage																																																							133,927,000	196,852,000			169,737,000	169,737,000
ancillary operating revenue																																																							21,454,250	30,011,000			26,588,000	26,588,000
depreciation and amortization, commercial																																																							-496,750	-659,000			-655,000	-655,000
general and administrative expense																																																							-10,236,000	-14,116,000			-8,910,000	-8,910,000
equity in earnings of real estate entities																																																							10,438,750	15,269,000	12,770,000	13,716,000	9,043,000	9,043,000	8,788,000	9,961,000
gains on real estate sales and debt retirement																																																							1,277,750	4,983,000
net income of the company																																																							154,005,500	194,513,000			245,811,000	245,811,000
rental income																																																							1,428,289,700	368,645,000			346,643,000	346,643,000
late charges and administrative fees																																																							78,741,400	21,356,000			18,447,000	18,447,000
property taxes																																																							146,269,900	39,384,000			38,599,000	38,599,000
direct property payroll																																																								25,103,000			25,023,000	25,023,000
media advertising																																																								2,110,000			3,045,000	3,045,000
other advertising and promotion																																																							23,517,900	5,712,000			5,497,000	5,497,000
utilities																																																							37,392,300	10,396,000			10,018,000	10,018,000
repairs and maintenance																																																							45,061,000	10,897,000			10,701,000	10,701,000
telephone reservation center																																																								2,359,000			2,872,000	2,872,000
property insurance																																																								2,240,000			2,376,000	2,376,000
other cost of management																																																							91,439,400	22,324,000			21,291,000	21,291,000
total cost of operations																																																							473,494,900	120,525,000			119,422,000	119,422,000
net operating income																																																							1,033,547,400	269,476,000			245,668,000	245,668,000
depreciation and amortization expense																																																							-311,122,800	-78,454,000			-75,880,000	-75,880,000
gross margin																																																							65,900	69,100			67,300	67,300
yoy																																																							-2.08%	2.67%
qoq																																																							-4.63%				0.00%
gross margin %	0%	NaN%	NaN%	NaN%	NaN%	NaN%	NaN%	NaN%	NaN%	NaN%	NaN%	NaN%	NaN%	NaN%	NaN%	NaN%	NaN%	NaN%	NaN%	NaN%	NaN%	NaN%	NaN%	NaN%	NaN%	NaN%	NaN%	NaN%	NaN%	NaN%	NaN%	NaN%	NaN%	NaN%	NaN%	NaN%	NaN%	NaN%	NaN%	NaN%	NaN%	NaN%	NaN%	NaN%	NaN%	NaN%	NaN%	NaN%	NaN%	NaN%	NaN%	NaN%	NaN%	NaN%	0.00%	0.02%	NaN%	NaN%	0.02%	0.02%	NaN%	NaN%
weighted-average for the period:
square foot occupancy																																																							89,800	92,200			91,000	91,000
realized annual rent per occupied square foot																																																							8,900	13,150			12,660	12,660
revpaf																																																							6,350	12,130			11,520	11,520
weighted-average at september 30:
in place annual rent per occupied square foot
total net rentable square feet
number of facilities
income from continuing operations before equity in earnings of real estate entities, foreign currency exchange gain, gains on disposition of real estate investments, gain on early retirement of debt and asset impairment charges																																																									187,745,000
gains on disposition of real estate investments																																																									-70,000	198,000			63,000	333,000
gain on early retirement of debt																																																													283,000
net income allocated to noncontrolling interests in subsidiaries																																																									-4,497,000
equity shares, series a																																																														5,131,000
equity shares, series a based on redemptions																																																														25,746,000
income from continuing operations before equity in earnings of real estate entities, foreign currency exchange gain, gains on disposition of real estate investments and asset impairment charges																																																										165,757,000
net income allocated to noncontrolling interests in subsidiaries:
based upon income of the subsidiaries																																																										-4,460,000			-6,138,000	-5,956,000
gain on early debt retirement
income from continuing operations before equity in earnings of real estate entities, gains on disposition of real estate investments, gain on early retirement of debt, asset impairment charges and foreign currency exchange gain																																																													168,152,000
net income allocated (to) from noncontrolling interests in subsidiaries:
based upon repurchases of interests
allocation of net income to (from) public storage shareholders:
preferred shareholders based on repurchases																																																													5,063,000
allocation of net income to (from) public storage shareholders: - sum																																																													125,038,000	123,961,000
income from continuing operations before equity in earnings of real estate entities, gains on disposition of real estate investments, gain on early retirement of debt, asset impairment charges and foreign currency exchange loss																																																														154,698,000
based upon repurchases of preferred partnership units
net income per common share – basic and diluted
net income per share																																																														0.61
weighted-average depositary shares																																																														8,377

Balance Sheets:

Quarterly

Annual

Unit: USD	2026-03-31	2025-12-31	2025-09-30	2025-06-30	2025-03-31	2024-12-31	2024-09-30	2024-06-30	2024-03-31	2023-12-31	2023-09-30	2023-06-30	2023-03-31	2022-12-31	2022-09-30	2022-06-30	2022-03-31	2021-12-31	2021-09-30	2021-06-30	2021-03-31	2020-12-31	2020-09-30	2020-06-30	2020-03-31	2019-12-31	2019-09-30	2019-06-30	2019-03-31	2018-12-31	2018-09-30	2018-06-30	2018-03-31	2017-12-31	2017-09-30	2017-06-30	2017-03-31	2016-12-31	2016-09-30	2016-06-30	2016-03-31	2015-12-31	2015-09-30	2015-06-30	2015-03-31	2014-09-30	2014-06-30	2014-03-31	2013-09-30	2013-06-30	2012-09-30	2012-06-30	2012-03-31	2011-12-31	2011-09-30	2011-06-30	2011-03-31	2010-09-30	2010-06-30	2010-03-31	2009-12-31

assets
cash and equivalents	134,609,000	318,095,000	296,460,000	1,104,603,000	287,177,000	447,416,000	599,004,000	542,263,000	271,645,000	370,002,000	629,773,000	651,665,000	695,424,000	775,253,000	883,787,000	1,013,886,000	940,524,000	734,599,000	958,247,000	480,810,000	159,622,000	257,560,000	293,955,000	1,268,475,000	718,427,000	409,743,000	541,357,000	360,331,000	217,973,000	361,218,000	432,525,000	338,419,000	363,030,000	433,376,000
real estate facilities, at cost:
land	5,962,189,000	5,952,072,000	5,896,029,000	5,805,482,000	5,761,652,000	5,711,685,000	5,652,960,000	5,644,056,000	5,628,128,000	5,628,488,000	5,575,643,000	5,315,098,000	5,293,989,000	5,273,073,000	5,240,841,000	5,175,744,000	5,156,795,000	5,134,060,000	4,864,520,000	4,796,684,000	4,432,749,000	4,375,588,000	4,307,686,000	4,300,406,000	4,267,474,000	4,186,873,000	4,152,663,000	4,116,718,000	4,080,301,000	4,047,982,000	4,027,764,000	3,993,027,000	3,959,870,000	3,947,123,000	3,851,679,000	3,809,491,000	3,807,344,000	3,781,479,000	3,712,382,000	3,686,289,000	3,613,583,000	3,564,810,000	3,533,393,000	3,517,310,000	3,488,609,000	3,421,473,000	3,337,320,000	3,327,012,000	3,001,267,000	2,867,523,000	2,852,481,000	2,840,443,000	2,823,255,000	2,811,515,000	2,809,340,000	2,795,770,000	2,793,494,000	2,785,630,000	2,776,731,000	2,717,117,000	2,717,368,000
buildings	24,251,342,000	24,126,185,000	23,815,040,000	23,306,210,000	23,079,380,000	22,767,053,000	22,441,100,000	22,170,780,000	21,970,032,000	21,836,750,000	21,421,031,000	19,365,416,000	19,129,120,000	18,946,053,000	18,535,053,000	18,139,804,000	17,886,912,000	17,673,773,000	15,592,003,000	15,181,248,000	13,211,931,000	12,997,039,000	12,476,340,000	12,397,440,000	12,281,507,000	12,102,273,000	11,878,809,000	11,665,027,000	11,457,059,000	11,248,862,000	11,108,129,000	10,951,605,000	10,806,814,000	10,718,866,000	10,518,224,000	10,349,848,000	10,293,315,000	10,181,750,000	9,973,859,000	9,884,371,000	9,719,034,000	9,640,451,000	9,559,470,000	9,502,764,000	9,431,266,000	9,243,560,000	9,056,865,000	9,012,703,000	8,532,067,000	8,238,526,000	8,128,225,000	8,071,586,000	8,008,921,000	7,961,762,000	7,936,926,000	7,887,522,000	7,835,179,000	7,773,237,000	7,725,359,000	7,578,733,000	7,575,587,000
total land and buildings, at cost	30,213,531,000	30,078,257,000
accumulated depreciation	-11,737,258,000	-11,468,054,000	-11,199,115,000	-10,938,166,000	-10,682,425,000	-10,426,186,000	-10,172,372,000	-9,921,201,000	-9,671,521,000	-9,423,974,000	-9,188,151,000	-8,966,878,000	-8,759,281,000	-8,554,155,000	-8,346,598,000	-8,150,113,000	-7,958,536,000	-7,773,308,000	-7,598,496,000	-7,435,657,000	-7,286,332,000	-7,152,135,000	-7,013,362,000	-6,881,358,000	-6,751,150,000	-6,623,475,000	-6,496,989,000	-6,375,132,000	-6,255,475,000	-6,140,072,000	-6,041,262,000	-5,923,687,000	-5,811,286,000	-5,700,331,000	-5,585,825,000	-5,482,071,000	-5,376,215,000	-5,270,963,000	-5,166,881,000	-5,064,423,000	-4,964,848,000	-4,866,738,000	-4,767,104,000	-4,668,557,000	-4,574,373,000	-4,384,959,000	-4,287,703,000	-4,192,529,000	-4,004,681,000	-3,913,399,000	-3,650,000,000	-3,568,254,000	-3,483,067,000	-3,398,379,000	-3,312,971,000	-3,227,804,000	-3,142,304,000	-2,975,105,000	-2,889,931,000	-2,816,692,000	-2,734,449,000
total land and buildings	18,476,273,000	18,610,203,000
construction in process	202,742,000	194,355,000	267,816,000	257,295,000	240,669,000	308,101,000	310,514,000	380,746,000	389,278,000	345,453,000	457,064,000	449,931,000	377,348,000	372,992,000	406,354,000	380,060,000	337,552,000	272,471,000	228,379,000	249,713,000	201,316,000	188,079,000	176,658,000	153,382,000	161,699,000	141,934,000	184,033,000	191,874,000	213,785,000	285,339,000	253,719,000	234,044,000	279,624,000	264,441,000	221,970,000	282,374,000	205,253,000	230,310,000	261,372,000	228,103,000	275,131,000	219,190,000	174,622,000	145,455,000	135,896,000	72,521,000	60,561,000	37,742,000	46,039,000	74,472,000				4,299,000	4,018,000	8,531,000	7,278,000	8,298,000	6,237,000	8,381,000	3,527,000
total real estate facilities	18,679,015,000	18,804,558,000
investment in unconsolidated real estate entity	383,917,000	388,586,000	383,557,000	387,946,000	374,115,000	382,490,000	397,482,000	374,161,000
goodwill and other intangible assets	233,207,000	251,613,000	269,568,000	253,467,000	263,203,000	282,187,000	294,546,000	320,794,000	351,465,000	387,267,000	414,291,000	212,022,000	219,730,000	232,517,000	239,811,000	249,744,000	271,127,000	302,894,000	258,949,000	265,486,000	205,061,000	204,654,000	204,700,000	206,922,000	209,440,000	205,936,000	211,476,000	210,178,000	210,459,000	209,856,000	209,317,000	207,390,000	210,733,000	214,957,000	205,868,000	207,203,000	209,593,000	212,719,000	212,548,000	213,396,000	212,506,000	211,458,000	212,976,000	216,312,000	221,330,000	229,984,000	225,097,000	232,273,000	217,023,000	205,228,000	210,148,000	212,419,000	211,278,000	209,833,000	211,425,000
notes receivable	142,501,000	142,108,000
other assets	277,160,000	303,644,000	384,963,000	364,616,000	291,675,000	282,188,000	279,985,000	277,163,000	289,310,000	275,050,000	287,967,000	256,294,000	265,756,000	230,822,000	239,024,000	207,832,000	213,758,000	207,656,000	201,812,000	184,167,000	286,313,000	172,715,000	169,248,000	159,430,000	175,298,000	174,344,000	171,345,000	165,772,000	166,600,000	131,097,000	138,343,000	129,917,000	130,481,000	130,287,000	133,377,000	125,348,000	125,066,000	122,148,000	118,236,000	93,208,000	90,821,000	95,468,000	99,586,000	92,763,000	124,212,000	106,013,000	103,647,000	96,490,000	114,330,000	88,875,000	95,319,000	89,674,000	87,485,000	87,204,000	93,136,000	91,578,000	97,466,000	100,866,000	93,230,000	101,414,000	92,900,000
total assets	19,850,409,000	20,208,604,000	20,114,318,000	20,541,453,000	19,615,446,000	19,754,934,000	19,803,219,000	19,788,762,000	19,617,385,000	19,809,216,000	19,875,749,000	17,560,326,000	17,507,778,000	17,552,307,000	17,450,920,000	17,862,851,000	17,698,781,000	17,380,908,000	15,284,686,000	14,490,365,000	11,981,735,000	11,816,546,000	11,385,148,000	12,358,055,000	11,825,921,000	11,365,444,000	11,413,861,000	11,113,291,000	10,875,016,000	10,928,270,000	10,747,940,000	10,692,962,000	10,685,520,000	10,732,892,000	10,765,694,000	10,365,727,000	10,083,911,000	10,130,338,000	9,865,769,000	9,997,137,000	10,064,347,000	9,778,232,000	9,654,815,000	9,634,758,000	9,772,017,000	9,624,468,000	9,946,457,000	9,682,582,000	9,149,940,000	9,094,598,000	9,288,120,000	9,178,947,000	9,406,312,000	8,932,562,000	9,085,543,000	9,272,336,000	9,435,521,000	9,651,410,000	9,569,513,000	9,744,471,000	9,805,645,000
liabilities and equity
notes payable	9,707,266,000	10,253,881,000	10,042,822,000	10,440,279,000	9,424,558,000	9,353,034,000	9,473,778,000	9,400,520,000	9,067,890,000	9,103,277,000	9,029,622,000	6,894,167,000	6,899,335,000	6,870,826,000	6,740,451,000	7,340,904,000	7,441,723,000	7,475,279,000	5,773,190,000	4,995,620,000	2,996,111,000	2,544,992,000	2,499,570,000	2,457,871,000	2,438,668,000	1,902,493,000	1,892,435,000	1,908,110,000	1,406,150,000	1,412,283,000	1,417,945,000	1,420,834,000	1,442,911,000	1,431,322,000	1,425,854,000								55,725,000	47,683,000	58,657,000	71,632,000	74,987,000	88,150,000	100,118,000	111,688,000	347,943,000	368,728,000	372,979,000	398,314,000	418,851,000	449,519,000	461,882,000	589,518,000	593,275,000	516,132,000	518,889,000
unsecured credit facility	325,000,000
accrued and other liabilities	498,421,000	612,889,000	664,389,000	624,825,000	520,536,000	588,248,000	619,416,000	584,594,000	504,197,000	598,993,000	644,236,000	507,588,000	470,395,000	514,680,000	589,712,000	473,599,000	453,971,000	482,091,000	474,198,000	406,642,000	368,309,000	394,655,000	433,524,000	394,986,000	357,045,000	383,284,000	444,962,000	410,671,000	374,245,000	371,259,000	409,973,000	351,336,000	326,819,000	337,201,000	380,420,000	322,923,000	294,542,000	297,935,000	345,734,000	305,769,000	275,170,000	261,578,000	295,482,000	270,414,000	264,439,000	260,461,000	237,985,000	222,608,000	243,033,000	218,703,000	242,706,000	226,825,000	212,766,000	210,966,000	244,462,000	227,869,000	210,769,000	243,629,000	231,759,000	201,416,000	212,253,000
total liabilities	10,530,687,000	10,866,770,000	10,707,211,000	11,065,104,000	9,945,094,000	9,941,282,000	10,093,194,000	9,985,114,000	9,572,087,000	9,702,270,000	9,673,858,000	7,401,755,000	7,369,730,000	7,385,506,000	7,330,163,000	7,814,503,000	7,895,694,000	7,957,370,000	6,247,388,000	5,727,262,000	3,364,420,000	3,239,647,000	2,933,094,000	3,347,857,000	2,795,713,000	2,285,777,000	2,624,897,000	2,318,781,000	1,780,395,000	1,783,542,000	1,827,918,000	1,772,170,000	1,769,730,000	1,768,523,000	1,806,274,000	1,203,701,000	690,404,000	688,684,000	776,626,000	1,230,104,000	986,834,000	580,594,000	476,207,000	329,097,000	468,096,000	332,093,000	634,972,000	682,758,000	343,151,000	330,391,000	957,974,000	1,011,178,000	1,062,379,000	609,280,000	663,313,000	677,388,000	672,651,000	833,147,000	825,034,000	922,914,000	731,142,000
commitments and contingencies
equity:
public storage shareholders’ equity:
preferred shares, 0.01 par value...	4,350,000,000	4,350,000,000	4,350,000,000	4,350,000,000	4,350,000,000	4,350,000,000	4,350,000,000	4,350,000,000	4,350,000,000	4,350,000,000	4,350,000,000	4,350,000,000	4,350,000,000	4,350,000,000	4,350,000,000	4,350,000,000	4,350,000,000	4,100,000,000	4,015,000,000
common shares, 0.10 par value, 650,000,000 shares authorized, 175,544,909 shares issued	17,554,000
paid-in capital	6,184,983,000	6,147,650,000	6,143,166,000	6,131,517,000	6,124,382,000	6,116,113,000	6,032,686,000	6,006,460,000	5,991,606,000	5,980,760,000	5,951,794,000	5,940,945,000	5,923,564,000	5,896,423,000	5,878,739,000	5,848,632,000	5,827,674,000	5,821,667,000	5,808,943,000	5,764,672,000	5,715,254,000	5,707,101,000	5,706,970,000	5,702,466,000	5,709,861,000	5,710,934,000	5,719,182,000	5,729,945,000	5,708,699,000	5,718,485,000	5,697,308,000	5,673,078,000	5,655,267,000	5,648,399,000	5,631,049,000	5,625,784,000	5,624,358,000	5,609,768,000	5,602,834,000	5,598,846,000	5,596,091,000	5,601,506,000	5,591,664,000	5,571,895,000	5,558,112,000	5,559,746,000	5,545,947,000	5,544,204,000	5,525,639,000	5,517,742,000	5,411,623,000	5,414,682,000	5,413,151,000	5,442,506,000	5,432,932,000	5,518,738,000	5,529,227,000	5,513,603,000	5,499,452,000	5,487,156,000	5,680,549,000
accumulated deficit	-1,269,414,000	-1,219,273,000	-1,150,224,000	-1,085,142,000	-867,425,000	-699,083,000	-737,450,000	-592,665,000	-336,003,000	-267,910,000	-130,581,000	-167,404,000	-168,952,000	-110,231,000	-122,631,000	-182,213,000	-436,101,000	-550,416,000	-771,114,000	-863,742,000	-877,931,000	-914,791,000	-867,950,000	-789,089,000	-701,226,000	-665,575,000	-650,222,000	-648,391,000	-615,329,000	-577,360,000	-760,284,000	-735,065,000	-735,806,000	-675,711,000	-662,360,000	-609,424,000	-553,473,000	-487,581,000	-494,325,000	-491,912,000	-476,861,000	-434,610,000	-444,395,000	-428,270,000	-398,905,000	-417,663,000	-408,375,000	-385,512,000	-321,890,000	-338,785,000	-312,690,000	-339,020,000	-296,969,000	-259,578,000	-265,226,000	-237,689,000	-223,960,000	-226,343,000	-272,485,000	-202,998,000	-153,759,000
accumulated other comprehensive loss	-58,783,000	-47,799,000	-48,365,000	-41,461,000	-58,244,000	-71,965,000	-52,684,000	-74,051,000	-74,513,000	-67,239,000	-81,104,000	-75,146,000	-76,448,000	-80,317,000	-96,470,000	-79,217,000	-60,382,000	-53,587,000	-52,980,000	-46,082,000	-49,341,000	-43,401,000	-62,344,000	-73,136,000	-78,005,000	-64,890,000	-78,513,000	-67,549,000	-65,971,000	-64,060,000	-84,339,000	-84,601,000	-70,851,000	-75,064,000	-74,873,000	-82,143,000	-92,225,000	-95,106,000	-83,667,000	-78,991,000	-67,773,000	-68,548,000	-67,437,000	-61,523,000	-78,572,000	-27,895,000	-4,568,000	-15,000	-4,481,000	-22,522,000	-15,371,000	-27,433,000	-11,950,000	-23,014,000	-15,218,000		-678,000	-11,880,000	-35,251,000	-24,779,000	-15,002,000
total public storage shareholders’ equity	9,224,340,000	9,248,128,000	9,312,123,000	9,372,459,000	9,566,256,000	9,712,606,000	9,610,063,000	9,707,245,000	9,948,662,000	10,013,178,000	10,107,659,000	10,065,944,000	10,045,711,000	10,073,402,000	10,027,172,000	9,954,726,000	9,698,712,000	9,335,177,000	9,017,354,000	8,743,584,000	8,597,947,000	8,558,867,000	8,434,127,000	8,992,691,000	9,013,078,000	9,062,911,000	8,774,135,000	8,768,934,000	9,069,821,000	9,119,478,000	8,895,091,000	8,895,806,000	8,891,003,000	8,940,009,000	8,936,190,000	9,139,087,000	9,363,514,000	9,411,910,000	9,059,656,000	8,737,753,000	9,048,766,000	9,170,641,000	9,152,118,000	9,279,369,000	9,277,895,000	9,266,430,000	9,285,238,000	8,973,401,000	8,778,944,000	8,736,106,000	8,300,626,000	8,137,608,000	8,321,727,000	8,288,209,000	8,385,762,000	8,553,194,000	8,717,565,000	8,672,076,000	8,598,390,000	8,676,023,000	8,928,407,000
noncontrolling interests	95,382,000	93,706,000	94,984,000	103,890,000	104,096,000	101,046,000	99,962,000	96,403,000	96,636,000	93,768,000	94,232,000	92,627,000	92,337,000	93,399,000	93,585,000	93,622,000	20,549,000	20,112,000	19,944,000	19,519,000	19,368,000	18,032,000	17,927,000	17,507,000	17,130,000	16,756,000	14,829,000	25,576,000	24,800,000	25,250,000	24,931,000	24,986,000	24,787,000	24,360,000	23,230,000	22,939,000	29,993,000	29,744,000	29,487,000	29,280,000	28,747,000	26,997,000	26,490,000	26,292,000	26,026,000	25,945,000	26,247,000	26,423,000	27,845,000	28,101,000
total equity	9,319,722,000	9,341,834,000	9,407,107,000	9,476,349,000	9,670,352,000	9,813,652,000	9,710,025,000	9,803,648,000	10,045,298,000	10,106,946,000	10,201,891,000	10,158,571,000	10,138,048,000	10,166,801,000	10,120,757,000	10,048,348,000	9,719,261,000	9,355,289,000	9,037,298,000	8,763,103,000	8,617,315,000	8,576,899,000	8,452,054,000	9,010,198,000	9,030,208,000	9,079,667,000	8,788,964,000	8,794,510,000	9,094,621,000	9,144,728,000	8,920,022,000	8,920,792,000	8,915,790,000	8,964,369,000	8,959,420,000	9,162,026,000	9,393,507,000	9,441,654,000	9,089,143,000	8,767,033,000	9,077,513,000	9,197,638,000	9,178,608,000	9,305,661,000	9,303,921,000	9,292,375,000	9,311,485,000	8,999,824,000	8,806,789,000	8,764,207,000	8,330,146,000	8,167,769,000	8,343,933,000	8,310,927,000	8,409,914,000	8,582,623,000	8,750,578,000	8,805,136,000	8,731,328,000	8,808,451,000	9,061,381,000
total liabilities and equity	19,850,409,000	20,208,604,000	20,114,318,000	20,541,453,000	19,615,446,000	19,754,934,000	19,803,219,000	19,788,762,000	19,617,385,000	19,809,216,000	19,875,749,000	17,560,326,000	17,507,778,000						15,284,686,000	14,490,365,000	11,981,735,000	11,816,546,000	11,385,148,000	12,358,055,000	11,825,921,000	11,365,444,000	11,413,861,000	11,113,291,000	10,875,016,000	10,928,270,000	10,747,940,000	10,692,962,000	10,685,520,000	10,732,892,000	10,765,694,000	10,365,727,000	10,083,911,000	10,130,338,000	9,865,769,000	9,997,137,000	10,064,347,000	9,778,232,000	9,654,815,000	9,634,758,000	9,772,017,000	9,624,468,000	9,946,457,000	9,682,582,000	9,149,940,000	9,094,598,000	9,288,120,000	9,178,947,000	9,406,312,000	8,932,562,000	9,085,543,000	9,272,336,000	9,435,521,000	9,651,410,000	9,569,513,000	9,744,471,000	9,805,645,000
common shares, 0.10 par value, 650,000,000 shares authorized, 175,500,243 shares issued		17,550,000
real estate facilities, at cost: - sum			29,711,069,000	29,111,692,000	28,841,032,000	28,478,738,000	28,094,060,000	27,814,836,000	27,598,160,000	27,465,238,000	26,996,674,000	24,680,514,000	24,423,109,000	24,219,126,000	23,775,894,000	23,315,548,000	23,043,707,000	22,807,833,000	20,456,523,000	19,977,932,000	17,644,680,000	17,372,627,000	16,784,026,000	16,697,846,000	16,548,981,000	16,289,146,000	16,031,472,000																								10,980,706,000	10,912,029,000	10,832,176,000		10,746,266,000	10,683,292,000	10,628,673,000		10,502,090,000	10,295,850,000
common shares, 0.10 par value, 650,000,000 shares authorized, 175,462,847 shares issued			17,546,000
common shares, 0.10 par value, 650,000,000 shares authorized, 175,452,716 shares issued				17,545,000
common shares, 0.10 par value, 650,000,000 shares authorized, 175,430,172 shares issued					17,543,000
common shares, 0.10 par value, 650,000,000 shares authorized, 175,408,393 shares issued						17,541,000
common shares, 0.10 par value, 650,000,000 shares authorized, 175,108,335 shares issued							17,511,000
common shares, 0.10 par value, 650,000,000 shares authorized, 175,010,887 shares issued								17,501,000
investments in unconsolidated real estate entities									389,048,000	390,180,000	278,131,000	276,778,000	285,692,000	275,752,000	252,648,000	845,894,000	850,649,000	828,763,000	779,272,000	767,914,000	771,075,000	773,046,000	769,923,000	753,358,000	763,226,000	767,816,000	771,167,000	778,523,000	784,314,000	783,988,000	619,405,000	762,247,000	746,254,000	724,173,000	726,168,000	715,268,000	698,696,000	689,207,000	697,040,000	696,069,000	812,415,000	809,308,000	806,204,000	808,455,000	792,280,000	837,624,000	854,759,000	858,222,000	766,489,000	717,937,000				714,627,000
common shares, 0.10 par value, 650,000,000 shares authorized, 175,723,561 shares issued and outstanding									17,572,000
common shares, 0.10 par value, 650,000,000 shares authorized, 175,670,727 shares issued and outstanding										17,567,000
common shares, 0.10 par value, 650,000,000 shares authorized, 175,501,315 shares issued and outstanding											17,550,000
common shares, 0.10 par value, 650,000,000 shares authorized, 175,492,886 shares issued and outstanding												17,549,000
common shares, 0.10 par value, 650,000,000 shares authorized, 175,466,222 shares issued and outstanding													17,547,000
redeemable noncontrolling interests																	83,826,000	68,249,000																																				12,355,000	12,316,000
common shares, 0.10 par value, 650,000,000 shares authorized, 175,265,668 shares issued and outstanding														17,527,000
total liabilities, redeemable noncontrolling interests and equity														17,552,307,000	17,450,920,000	17,862,851,000	17,698,781,000	17,380,908,000
common shares, 0.10 par value, 650,000,000 shares authorized, 175,336,452 shares issued and outstanding															17,534,000
common shares, 0.10 par value, 650,000,000 shares authorized, 175,239,263 shares issued and outstanding																17,524,000
common shares, 0.10 par value, 650,000,000 shares authorized, 175,212,439 shares issued and outstanding																	17,521,000
preferred shares called for redemption																				325,000,000		300,000,000		495,000,000			287,500,000									460,000,000				487,500,000	375,000,000		125,000,000		145,000,000						367,325,000	415,625,000	476,634,000
common shares, 0.10 par value, 650,000,000 shares authorized, 175,134,455 shares issued and outstanding																		17,513,000
common shares, 0.10 par value, 650,000,000 shares authorized, 175,048,260 shares issued and outstanding																			17,505,000
154,850 shares issued (in series) and outstanding,
(151,700 at december 31, 2020) at liquidation preference																				3,871,250,000
common shares, 0.10 par value, 650,000,000 shares authorized,
174,864,437 shares issued and outstanding (174,581,742 shares at
december 31, 2020)																				17,486,000	17,465,000
151,700 shares issued (in series) and outstanding,
at liquidation preference																					3,792,500,000																											3,797,500,000	3,562,500,000	3,562,500,000
174,651,004 shares issued and outstanding (174,581,742 shares at
151,700 shares issued (in series) and outstanding, (162,600 at
december 31, 2019), at liquidation preference																						3,792,500,000	3,640,000,000	4,135,000,000	4,065,000,000
174,581,742 shares issued and outstanding (174,418,615 shares at
december 31, 2019)																						17,458,000	17,451,000	17,450,000	17,448,000
145,600 shares issued (in series) and outstanding, (162,600 at
174,512,070 shares issued and outstanding (174,418,615 shares at
165,400 shares issued (in series) and outstanding, (162,600 at
174,498,918 shares issued and outstanding (174,418,615 shares at
162,600 shares issued (in series) and outstanding, (162,600 at
174,475,022 shares issued and outstanding (174,418,615 shares at
162,600 shares issued (in series) and outstanding, (161,000 at
december 31, 2018), at liquidation preference																										4,065,000,000	3,766,250,000	3,737,500,000	4,025,000,000
174,418,615 shares issued and outstanding (174,130,881 shares at
december 31, 2018)																										17,442,000	17,438,000	17,429,000	17,422,000
150,650 shares issued (in series) and outstanding, (161,000 at
174,378,478 shares issued and outstanding (174,130,881 shares at
149,500 shares issued (in series) and outstanding, (161,000 at
174,294,523 shares issued and outstanding (174,130,881 shares at
161,000 shares issued (in series) and outstanding, (161,000 at
174,215,292 shares issued and outstanding (174,130,881 shares at
december 31, 2017), at liquidation preference																														4,025,000,000	4,025,000,000	4,025,000,000	4,025,000,000
174,130,881 shares issued and outstanding (173,853,370 shares at
december 31, 2017)																														17,413,000	17,406,000	17,394,000	17,393,000
174,059,645 shares issued and outstanding (173,853,370 shares at
173,937,035 shares issued and outstanding (173,853,370 shares at
173,927,759 shares issued and outstanding (173,853,370 shares at
161,000 shares issued (in series) and outstanding, (174,700 at
december 31, 2016), at liquidation preference																																		4,025,000,000	4,025,000,000	4,187,500,000	4,367,500,000
173,853,370 shares issued and outstanding (173,288,787 shares at
december 31, 2016)																																		17,385,000	17,374,000	17,370,000	17,354,000
cash and cash equivalents																																			694,233,000	358,266,000	120,859,000	183,688,000	57,213,000	260,124,000	305,705,000	104,285,000	35,668,000	20,256,000	152,797,000	98,252,000	387,983,000	101,112,000	56,965,000	410,910,000	535,752,000	438,475,000	620,079,000	139,008,000	160,733,000	144,487,000	145,105,000	513,479,000	474,336,000	719,982,000	763,789,000
173,738,808 shares issued and outstanding (173,288,787 shares at
senior unsecured notes																																				390,692,000	365,349,000	359,810,000	383,438,000	379,792,000	274,814,000	263,940,000
mortgage notes																																				30,086,000	30,513,000	30,939,000	47,454,000	57,043,000	61,850,000	55,076,000
167,500 shares issued (in series) and outstanding, (174,700 at
173,699,438 shares issued and outstanding (173,288,787 shares at
174,700 shares issued (in series) and outstanding, (174,700 at
173,543,322 shares issued and outstanding (173,288,787 shares at
174,700 shares issued (in series) and outstanding, (162,200 at
december 31, 2015), at liquidation preference																																						4,367,500,000	4,017,500,000	3,692,500,000	3,980,000,000
173,288,787 shares issued and outstanding (172,921,241 shares at
december 31, 2015)																																						17,329,000	17,314,000	17,310,000	17,309,000
160,700 shares issued (in series) and outstanding, (162,200 at
173,137,424 shares issued and outstanding (172,921,241 shares at
147,700 shares issued (in series) and outstanding, (162,200 at
173,098,015 shares issued and outstanding (172,921,241 shares at
159,200 shares issued (in series) and outstanding, (162,200 at
173,078,782 shares issued and outstanding (172,921,241 shares at
162,200 shares issued (in series) and outstanding, (173,000 at
december 31, 2014), at liquidation preference																																										4,055,000,000	4,055,000,000	4,180,000,000	4,180,000,000
172,921,241 shares issued and outstanding (172,445,554 shares at
december 31, 2014)																																										17,293,000	17,286,000	17,267,000	17,260,000
172,853,700 shares issued and outstanding (172,445,554 shares at
borrowings on bank credit facility																																												11,000,000
167,200 shares issued (in series) and outstanding, (173,000 at
172,664,710 shares issued and outstanding (172,445,554 shares at
172,594,849 shares issued and outstanding (172,445,554 shares at
loan receivable from shurgard europe																																															207,928,000	209,557,000										515,379,000	477,031,000	527,243,000	561,703,000
term loan																																															322,000,000	372,000,000
165,400 shares issued (in series) and outstanding, (142,500 at
december 31, 2013), at liquidation preference																																														4,135,000,000	4,135,000,000
172,418,434 shares issued and outstanding (171,776,291 shares at
december 31, 2013)																																														17,242,000	17,234,000	17,224,000
172,339,168 shares issued and outstanding (171,776,291 shares at
shares issued (in series) and outstanding, (142,500 at december 31, 2013),
172,236,050 shares issued and outstanding (171,776,291 shares at
loan receivable from unconsolidated real estate entity																																																	420,441,000	404,526,000
shares issued (in series) and outstanding, (113,500 at december 31, 2012),
171,760,994 shares issued and outstanding (171,388,286 shares at
december 31, 2012)																																																	17,176,000	17,171,000
171,705,912 shares issued and outstanding (171,388,286 shares at
investment in unconsolidated real estate entities																																																			716,401,000	703,458,000	723,528,000
loans receivable from unconsolidated real estate entities																																																			399,794,000	391,146,000	414,833,000
public storage shareholders:
cumulative preferred shares of beneficial interest, 0.01 par value...																																																			3,200,000,000	3,072,325,000	3,200,450,000	3,111,271,000	3,216,271,000	3,253,527,000	3,396,027,000	3,379,777,000	3,389,777,000	3,399,777,000	3,399,777,000
common shares of beneficial interest, 0.10 par value, 650,000,000 shares authorized, 170,634,560 shares issued and outstanding																																																			17,064,000
permanent noncontrolling interests																																																			29,520,000	30,161,000	22,206,000	22,718,000	24,152,000
common shares of beneficial interest, 0.10 par value, 650,000,000 shares authorized, 170,543,534 shares issued and outstanding																																																				17,054,000
common shares of beneficial interest, 0.10 par value, 650,000,000 shares authorized, 170,449,508 shares issued and outstanding																																																					17,045,000
marketable securities																																																										102,131,000	94,888,000	95,191,000
loan receivable from unconsolidated real estate entities																																																						402,693,000
common shares of beneficial interest, 0.10 par value, 650,000,000 shares authorized, 170,238,805 shares issued and outstanding																																																						17,024,000
investment in real estate entities																																																							716,587,000	733,054,000	617,026,000	607,057,000	586,936,000	601,104,000	612,316,000
loans receivable from real estate entities																																																							466,349,000	630,606,000	871,777,000
common shares of beneficial interest, 0.10 par value, 650,000,000 shares authorized, 170,036,247 shares issued and outstanding																																																							17,003,000
goodwill																																																								174,634,000	174,634,000	174,634,000	174,634,000	174,634,000	174,634,000
intangible assets																																																								33,958,000	35,866,000	45,804,000	50,062,000	37,364,000	38,270,000
redeemable noncontrolling interests in subsidiaries																																																								12,325,000	12,292,000	13,127,000	13,151,000	13,106,000	13,122,000
common shares of beneficial interest, 0.10 par value, 650,000,000 shares authorized, 169,507,379 shares issued and outstanding																																																								16,952,000
accumulated other comprehensive income																																																								1,666,000
equity of permanent noncontrolling interests in subsidiaries																																																								29,429,000	33,013,000	133,060,000	132,938,000	132,428,000	132,974,000
common shares of beneficial interest, 0.10 par value, 650,000,000 shares authorized, 169,470,524 shares issued and outstanding																																																									16,949,000
common shares of beneficial interest, 0.10 par value, 650,000,000 shares authorized, 169,174,859 shares issued and outstanding																																																										16,919,000
equity shares of beneficial interest, series a, 0.01 par value...
common shares of beneficial interest, 0.10 par value, 650,000,000 shares authorized, 168,954,925 shares issued and outstanding																																																											16,897,000
equity shares, series a called for redemption																																																												205,366,000
common shares of beneficial interest, 0.10 par value, 650,000,000 shares authorized, 168,657,595 shares issued and outstanding																																																												16,867,000
common shares of beneficial interest, 0.10 par value, 650,000,000 shares authorized, 168,405,539 shares issued and outstanding																																																													16,842,000

Cashflow Statements:

Quarterly

Annual

Unit: USD	2026-03-31	2025-12-31	2025-09-30	2025-06-30	2025-03-31	2024-12-31	2024-09-30	2024-06-30	2024-03-31	2023-12-31	2023-09-30	2023-06-30	2023-03-31	2022-12-31	2022-09-30	2022-06-30	2022-03-31	2021-12-31	2021-09-30	2021-06-30	2021-03-31	2020-12-31	2020-03-31	2019-12-31	2019-09-30	2019-06-30	2019-03-31	2018-12-31	2018-09-30	2018-06-30	2018-03-31	2017-12-31	2017-09-30	2017-06-30	2017-03-31	2016-12-31	2016-09-30	2016-06-30	2016-03-31	2015-12-31	2015-09-30	2015-06-30	2015-03-31	2014-09-30	2014-06-30	2014-03-31	2013-09-30	2012-09-30	2012-06-30	2012-03-31	2011-12-31	2011-09-30	2011-06-30	2011-03-31	2010-09-30	2010-06-30	2010-03-31

operating activities:
net income	529,375,000	510,057,000	514,773,000	361,411,000	410,791,000	618,361,000	433,143,000	521,209,000	511,697,000	441,897,000	616,643,000	581,165,000	520,415,000	414,934,000	2,778,152,000	656,893,000	516,295,000	622,019,000	491,628,000	411,730,000	434,262,000	352,432,000	367,136,000	387,097,000	399,420,000	371,456,000	367,678,000	587,906,000	379,589,000	405,292,000	344,436,000	390,963,000	358,274,000	355,207,000	344,021,000	415,681,000	369,050,000	358,359,000	317,349,000	365,259,000	341,136,000	328,040,000	283,254,000	294,977,000	278,279,000	228,273,000	285,628,000	264,819,000	198,931,000	206,722,000	220,437,000	194,513,000	210,941,000	210,568,000	245,811,000	131,176,000	129,917,000
adjustments to reconcile net income to net cash flows from operating activities:
gain on sale of real estate	-379,000	-403,000	-502,000	-163,000	-45,000	-109,000	-554,000	0	-874,000	-17,090,000				0				0
depreciation and amortization	290,723,000	295,545,000	290,364,000	283,216,000	282,715,000	280,891,000	280,330,000	283,342,000	285,203,000	287,525,000	238,748,000	222,133,000	221,650,000	226,538,000	220,772,000	218,708,000	222,128,000	205,289,000	188,552,000	172,728,000	146,859,000	141,406,000	135,900,000	134,885,000	129,233,000	126,859,000	121,941,000	121,374,000	124,516,000	119,777,000	117,979,000	120,100,000	113,320,000	110,177,000	110,929,000	111,741,000	109,432,000	107,013,000	105,128,000	106,307,000	106,082,000	106,473,000	107,146,000	111,077,000	106,443,000	109,021,000
equity in earnings of unconsolidated real estate entity	-6,836,000						-2,888,000
distributions from cumulative equity in earnings of unconsolidated real estate entity	498,000						1,334,000
unrealized foreign currency exchange loss	-41,926,000	-29,406,000	-1,141,000	147,052,000	68,664,000	-122,699,000	70,583,000	-12,391,000	-37,467,000			1,020,000	26,825,000
share-based compensation expense	11,888,000	9,541,000	9,458,000	10,620,000	10,283,000	12,646,000	10,927,000	10,827,000	10,347,000	10,257,000	9,515,000	11,949,000	9,845,000	12,106,000	13,741,000	16,928,000	13,928,000	12,168,000	14,975,000	18,265,000	14,407,000	11,828,000	5,677,000	6,345,000	7,114,000	5,710,000	6,664,000	18,100,000	17,648,000	17,278,000	16,910,000	12,043,000	12,942,000	4,244,000	8,319,000
impairment of real estate investments		402,000	119,000
amortization of debt issuance costs	2,676,000	2,761,000
unrealized losses on derivatives	5,251,000
other non-cash adjustments	215,000	2,885,000	-4,278,000	3,588,000	2,707,000	3,418,000	2,597,000	2,614,000	2,781,000	10,303,000
changes in operating assets and liabilities, excluding the impact of acquisitions:
other assets	20,719,000	-12,287,000	10,414,000	-31,468,000	8,702,000	273,000	-39,087,000	10,077,000	-16,231,000	24,354,000	-21,300,000	17,192,000	-36,611,000
accrued and other liabilities	-117,403,000	-40,975,000	50,883,000	95,918,000	-79,386,000	-20,173,000	42,385,000	77,103,000	-84,132,000	-43,298,000	83,281,000	37,733,000	-42,450,000						2,475,000	24,169,000	30,904,000	-1,441,000	34,623,000	-12,977,000	-2,993,000	18,309,000	46,575,000	11,229,000
net cash flows from operating activities	694,801,000	733,587,000	875,091,000	872,708,000	705,063,000	768,620,000	798,770,000	895,279,000	665,586,000	791,684,000	875,671,000	882,400,000	696,893,000	736,351,000	927,017,000	797,532,000	656,241,000	728,835,000	684,265,000	621,293,000	509,162,000	512,562,000	462,950,000	499,989,000	552,460,000	541,610,000	473,584,000	483,167,000	600,426,000	519,391,000	458,519,000
investing activities:
capital expenditures to maintain real estate facilities	-44,027,000	-79,159,000	-55,003,000	-39,342,000	-44,960,000	-64,759,000	-57,415,000	-51,105,000	-66,376,000	-78,605,000	-52,911,000	-8,414,000	-96,642,000	-121,877,000	-125,423,000	-112,924,000	-99,549,000	-101,135,000	-78,459,000	-54,093,000	-36,551,000	-37,029,000	-14,018,000	7,000	-5,636,000	-6,152,000	-4,777,000	-47,537,000	-35,888,000	-33,034,000	-23,608,000	-37,402,000	-32,702,000	-27,722,000	-24,373,000	-19,403,000	-23,796,000	-26,719,000	-11,517,000	-12,655,000	-20,478,000	-24,562,000	-7,899,000	-30,702,000	-19,761,000	-13,136,000	-23,119,000
capital expenditures for property enhancements	-9,794,000					-20,585,000	-43,145,000	-37,981,000	-25,046,000	-40,579,000	-52,041,000
capital expenditures for energy efficiencies	-15,687,000	-20,928,000	-20,941,000	-15,996,000	-13,049,000	-17,828,000	-9,800,000	-12,926,000	-13,058,000	-18,854,000	-19,922,000
development and expansion of real estate facilities	-57,713,000	-72,739,000	-94,852,000	-76,665,000	-66,481,000	-79,693,000	-82,229,000	-80,405,000	-84,527,000	-115,468,000	-87,542,000	-92,561,000	-68,874,000	-82,028,000	-75,020,000	-79,758,000	-76,705,000	-80,454,000	-66,347,000	-73,967,000	-61,213,000	-56,937,000
acquisition of real estate facilities and intangible assets	-20,778,000	-131,030,000	-511,278,000	-162,287,000	-140,990,000	-221,193,000	-24,317,000			-171,852,000	-110,546,000	-143,983,000	-46,795,000	-228,587,000	-297,940,000	-119,140,000	-112,277,000	-2,201,822,000	-326,926,000	-2,315,250,000	-203,108,000	-509,849,000	-186,183,000	-121,115,000	-120,458,000	-116,686,000	-79,499,000	-73,245,000	-73,845,000	-15,906,000	-18,024,000	-203,603,000	-47,269,000	-11,623,000	-22,784,000	-158,528,000	-72,993,000	-99,499,000	-85,158,000	-72,161,000	-17,132,000	-55,492,000	-32,291,000
issuance of notes receivable		-48,388,000	-14,963,000	-44,240,000	-23,636,000
proceeds from sale of real estate investments	674,000	4,248,000	1,054,000	250,000	2,599,000	2,374,000	3,571,000	20,000	2,423,000	39,885,000				0				226,000	357,000	4,151,000	11,562,000	397,000	1,399,000	0	324,000			50,794,000	1,443,000	0	1,947,000	507,000	0			0	-395,000	704,000	689,000					1,292,000
net cash flows from investing activities	-147,325,000	-364,309,000	-695,983,000	-338,280,000	-286,517,000		-213,335,000	-191,075,000	-186,584,000			-334,962,000	-212,311,000	-432,492,000	2,148,304,000	-307,285,000	-288,531,000	-2,372,432,000	-471,375,000	-2,315,979,000	-403,725,000	-589,563,000	-289,904,000	-226,673,000	-257,544,000	-219,898,000	-193,245,000	-152,198,000	-106,915,000	-139,765,000	-114,900,000
financing activities:
repayments of notes payable	-500,034,000	-251,418,000	-400,034,000	-32,000	-33,000	-32,000	-31,000	-808,406,000	-36,000	-30,000
net proceeds from revolving line of credit	325,000,000
proceeds from op options issued	30,000,000
financing fees paid	-4,000,000
issuance of common shares in connection with share-based compensation	7,828,000	-65,000	1,698,000	4,595,000	3,184,000	16,361,000	20,553,000	2,564,000	7,800,000	22,032,000	1,042,000	4,941,000	25,116,000	7,358,000	16,421,000	3,419,000	8,073,000
taxes paid upon net share settlement of restricted share units	-2,600,000	-5,173,000	-433,000	-372,000	-2,668,000	-6,372,000	-679,000	-288,000	-5,328,000	-3,910,000	-644,000	-464,000	-8,932,000	-3,838,000	-779,000	-1,636,000	-10,574,000
acquisition of noncontrolling interests	-7,482,000	-803,000	0	-8,958,000	-103,000	-405,000												-659,000	0	0	-33,000	0		0								0	0	-14,291,000	-134,000					-49,000							-3,835,000
contributions by noncontrolling interests	856,000	863,000	1,041,000	1,531,000	1,153,000	953,000	567,000	91,000	1,327,000	562,000	1,908,000	729,000	4,000	10,000	-39,000	907,000	791,000	92,000	594,000	385,000	1,380,000	338,000	566,000	2,097,000	749,000	1,106,000	196,000	378,000	590,000	49,000	703,000	1,418,000	482,000	-108,000	692,000	293,000	430,000	740,000	2,007,000	578,000
distributions paid to preferred shareholders, common shareholders, restricted share unitholders and unvested ltip unitholders	-576,155,000	-575,835,000	-575,855,000	-575,847,000	-575,844,000	-575,689,000	-574,852,000	-574,602,000	-576,792,000
distributions paid to noncontrolling interests	-4,375,000	-5,100,000	-13,668,000	-4,451,000	-4,474,000	-3,701,000	-4,259,000	-3,311,000	-4,166,000	-3,631,000	-3,648,000	-3,575,000	-3,773,000	-2,770,000	-9,756,000	-19,142,000	-2,555,000	-2,149,000	-1,706,000	-1,538,000	-1,269,000	-1,398,000	-1,172,000	-1,252,000	-1,887,000	-1,730,000	-1,803,000	-1,760,000	-2,207,000	-1,340,000	-1,715,000	-1,852,000	-1,791,000	-1,728,000	-2,021,000	-1,978,000	-1,968,000	-1,907,000	-1,733,000	-1,838,000	-2,296,000	-1,369,000	-1,822,000	-1,820,000	-1,621,000	-1,779,000	-1,618,000	-1,568,000	-1,034,000	-1,739,000	-2,077,000	-5,089,000
net cash flows from financing activities	-730,962,000	-347,643,000	-987,251,000	282,998,000	-578,785,000			-432,930,000	-577,195,000			-591,121,000	-563,965,000				-161,253,000	1,420,344,000	264,886,000	2,015,882,000	-202,971,000	41,127,000	135,497,000	-404,350,000	-114,100,000	-179,280,000	-423,005,000	-402,034,000	-399,673,000	-404,235,000	-413,646,000
net increase in cash and equivalents, including restricted cash	-183,486,000	21,635,000	-808,143,000			-151,588,000	25,548,000			-259,980,000	-21,736,000
cash and equivalents at beginning of the period:	318,095,000
cash and equivalents at end of the period:	134,609,000
supplemental schedule of non-cash investing and financing activities:
costs incurred during the period remaining unpaid at period end for:
construction or expansion of real estate facilities	-30,281,000	4,365,000	22,253,000	-3,645,000	-42,084,000	-4,084,000	4,100,000	-5,715,000	-41,460,000	-1,311,000	-8,938,000	-7,225,000	-50,625,000	5,356,000	-22,324,000	-6,437,000	-42,245,000	-10,746,000	2,040,000	-19,459,000	-21,886,000	2,366,000	-20,605,000	12,970,000	8,629,000	-12,157,000	-41,798,000
supplemental cash flow information:
cash paid for interest, net of amounts capitalized	-92,257,000	-493,526,000	80,834,000	57,176,000	82,509,000	58,846,000	79,319,000	55,588,000	75,745,000
cash paid for income taxes, net of refunds	-357,000	-12,208,000	-52,000	6,140,000	-230,000	300,000	433,000	4,623,000	1,521,000
cash flows from operating activities:
cash flows from investing activities:
acquisition of breit simply storage llc, net of cash acquired										0
distributions in excess of cumulative equity in earnings from unconsolidated real estate entity							0
contributions to unconsolidated real estate entity
acquisition of non-operating real estate assets
cash flows from financing activities:
issuance costs on amendment of credit facility										0	0
issuance of notes payable, net of issuance costs		489,888,000	0			0	0			0								1,738,744,000	817,631,000	1,986,294,000	496,235,000	0	545,151,000	0	0
issuance of common shares																			33,814,000	42,895,000	4,703,000	7,159,000	1,763,000	555,000	15,619,000	15,797,000	1,593,000	4,582,000	6,244,000	732,000	967,000	7,746,000	2,852,000	13,868,000	18,034,000	11,350,000	3,466,000	1,058,000	9,667,000	3,749,000	15,426,000	6,779,000	3,709,000	5,419,000	5,082,000	25,409,000	3,545,000
repurchase of common shares						0	0
cash and equivalents, including restricted cash at beginning of the period:
cash and equivalents		0	0	0	447,416,000	0	0	0	370,002,000	0	0	0	775,253,000	0	0	0	734,599,000	0	0	0	257,560,000	0	409,743,000	0	0	0	361,218,000	0	0	0	433,376,000
restricted cash included in other assets						0	0	0	30,373,000	0	0	0	29,904,000	0	0	0	26,691,000	0	0	0	25,040,000	0	23,811,000	0	0	0	22,801,000	0	0	0	22,677,000
cash and equivalents, including restricted cash at beginning of the period: - sum		0	0	0	447,416,000	0	0	0	400,375,000	0	0	0	805,157,000	0	0	0	761,290,000	0	0	0	282,600,000	0	433,554,000
cash and equivalents, including restricted cash at end of the period:
cash and equivalents, including restricted cash at end of the period: - sum		21,635,000	-808,143,000	817,426,000	287,177,000	-151,588,000	25,548,000	271,274,000	302,182,000	-259,980,000	-21,736,000	-43,683,000	725,774,000	-106,522,000	-129,709,000	73,468,000	967,920,000	-223,061,000	477,916,000	321,191,000	185,244,000	-36,108,000	742,128,000
cash received for sale of solar tax credits
equity in earnings of unconsolidated real estate entities			-3,674,000	2,230,000	-3,627,000				-6,090,000	-5,110,000	-7,227,000	-9,565,000	-5,995,000	-6,852,000	-8,180,000	-48,525,000	-43,424,000	-150,711,000	-32,860,000	-29,066,000	-19,456,000	-17,634,000	-23,968,000	-13,916,000	-19,045,000	-18,914,000	-17,672,000	-12,966,000	-17,771,000	-41,963,000	-30,795,000	-18,420,000	-17,218,000	-20,068,000	-19,949,000	-15,128,000	-17,237,000
distributions from cumulative equity in earnings of unconsolidated real estate entities			1,087,000	304,000	432,000				352,000	11,670,000	334,000	17,005,000	324,000	309,000	87,867,000	31,092,000	15,501,000	91,237,000
distributions in excess of cumulative equity in earnings from unconsolidated real estate entities										7,810,000	0			0	9,133,000			10,753,000
impairment write-down of real estate investments					3,827,000
net decrease in cash and equivalents, including restricted cash					-160,239,000				-98,193,000
gain on sale of equity investment in ps business parks, inc.														0
proceeds from sale of equity investment in ps business parks, inc.														0
net cash flows (used in) from investing activities										-490,217,000
issuance of preferred shares														0	0	0	242,832,000	422,144,000	138,973,000			434,465,000		475,085,000	307,348,000	0	276,723,000					0	290,120,000			338,075,000	314,450,000	193,561,000	290,117,000					0	327,609,000	227,497,000	0
real estate acquired in exchange for noncontrolling interests														0	0	-4,439,000	-15,426,000
net cash flows (used in) from financing activities														-410,381,000	-3,205,030,000
contributions to unconsolidated real estate entities
redemption of preferred shares																		-350,000,000	-325,000,000	-200,000,000	-300,000,000	0		-477,500,000	0	-287,500,000	-285,000,000					0				0	-487,500,000			-125,000,000	0
distributions paid to preferred shareholders, common shareholders and restricted share unitholders										-576,470,000	-576,297,000	-576,304,000	-576,251,000	-399,916,000	-2,709,079,000	-399,918,000	-399,584,000	-399,012,000
net cash flows (used in) from operating, investing, and financing activities													-79,383,000								-97,534,000	-35,874,000
net effect of foreign exchange impact on cash and equivalents, including restricted cash																	173,000	192,000
unrealized foreign currency exchange gain															-99,880,000
net cash flows from (used) in financing activities
other												3,768,000	2,890,000	-49,819,000	64,908,000	23,877,000	-32,810,000	-12,964,000	47,651,000	10,660,000	-27,599,000	-40,396,000	-27,176,000	-44,000,000	35,875,000	28,495,000	-12,671,000	-53,603,000	31,420,000	28,312,000	-14,054,000	-46,032,000	35,277,000	18,946,000	-3,055,000	-72,860,000	38,542,000	28,385,000	10,651,000	-31,703,000	28,074,000	38,302,000	-11,718,000	24,196,000	11,384,000	-7,205,000	3,966,000	17,389,000	13,938,000	-3,970,000	-23,357,000	19,140,000	24,232,000	-2,285,000	12,492,000	26,838,000	-19,507,000
changes in operating assets and liabilities:
repayments on notes payable												-8,071,000	-129,000	-11,225,000	-501,798,000	-236,000	-236,000	-633,000	-532,000	-526,000	-527,000	-515,000	-497,000	-488,000	-484,000	-481,000	-467,000	-455,000	-447,000	-442,000	-440,000	-434,000	-426,000	-421,000	-420,000	-16,464,000	-9,403,000	-4,640,000	-5,952,000	-496,000	-459,000	-10,745,000	-5,537,000	-3,226,000	-18,058,000	-710,000	-11,346,000
increase in cash and equivalents, including restricted cash													-79,383,000	-106,522,000	-129,709,000	73,468,000	206,630,000	-223,061,000	477,916,000	321,191,000	-97,356,000	-36,108,000	308,574,000	-131,138,000
total adjustments														321,417,000	-1,851,135,000	140,639,000	139,946,000	106,816,000	192,637,000	209,563,000	74,900,000	160,130,000	95,814,000	112,892,000	153,040,000	170,154,000	105,906,000	-104,739,000	220,837,000	114,099,000	114,083,000	82,197,000	178,918,000	151,037,000	115,062,000	49,615,000	146,276,000	165,375,000	123,631,000	69,273,000	130,899,000	128,803,000	85,937,000	132,126,000	117,058,000	102,436,000	81,466,000	85,159,000	127,356,000	72,768,000	74,222,000	131,816,000	106,704,000	54,251,000	50,291,000	161,314,000	103,205,000
repayment of note receivable																						0
net cash flows from operating, investing, and financing activities														-106,522,000	-129,709,000	73,641,000	206,457,000	-223,253,000	477,776,000				308,543,000	-131,034,000	180,816,000	142,432,000	-142,666,000	-71,065,000	93,838,000	-24,609,000	-70,027,000
real estate acquired in exchange for consideration payable
preferred shares called for redemption and reclassified to liabilities
foreign currency exchange gain																	-35,377,000				-45,385,000		-8,945,000		-15,574,000																									-12,157,000
real estate deposits and costs for pending acquisitions																					-114,415,000
foreign currency exchange loss																		-38,203,000	-40,906,000			45,703,000					-7,791,000	-5,379,000	-2,612,000	-21,944,000	11,818,000	5,593,000	13,446,000	25,440,000	5,566,000	-23,557,000	3,665,000	-8,632,000	10,954,000					3,012,000	1,675,000	2,348,000	-16,094,000	-9,019,000				28,253,000	-10,496,000	-31,252,000		49,204,000	34,843,000
cash paid upon vesting of restricted share units																		-2,631,000	-1,425,000	-1,729,000	-7,284,000	-814,000	-8,507,000	-1,479,000	-672,000	-254,000	-9,757,000	-1,498,000	-607,000	-173,000	-10,069,000	-1,683,000	-645,000	-159,000	-11,605,000	-1,753,000
adjustments to reconcile net income to net cash flows
from operating activities:
gain on real estate investment sales																				-3,991,000	-9,413,000	-376,000	-1,117,000	0	0			-36,078,000	-1,401,000	0	-424,000	-446,000	0			0	0	0	-689,000
distributions from cumulative equity in earnings of unconsolidated
real estate entities																				28,260,000	15,487,000	19,599,000	15,443,000	19,260,000	15,437,000	23,127,000	15,435,000	15,429,000	69,037,000	12,639,000	12,649,000	13,862,000	13,362,000	13,273,000	13,252,000	11,936,000	11,874,000
distributions in excess of cumulative equity in earnings
from unconsolidated real estate entities																						13,855,000
distributions paid to preferred shareholders,
common shareholders and restricted share unitholders																				-396,237,000	-396,176,000	-398,108,000	-401,807,000	-401,368,000
net effect of foreign exchange impact on cash and equivalents, including
restricted cash																				-5,000	178,000
supplemental schedule of non-cash investing and
preferred shares called for redemption and reclassified from equity
gain due to shurgard public offering
real estate acquired in exchange for assumption of a liability
liability assumed in connection with acquisition of real estate
notes payable assumed in connection with acquisition of real estate																								0	0	0	1,817,000
other disclosures:
foreign currency translation adjustment:
real estate facilities, net of accumulated depreciation																												33,000
investments in unconsolidated real estate entities																						-18,943,000	13,115,000	-13,623,000	10,964,000	1,578,000	1,911,000	6,952,000
notes payable																							-8,914,000	10,214,000	-15,529,000	5,214,000	-7,741,000	-5,464,000
accumulated other comprehensive gain																						18,943,000	-4,170,000	3,305,000	4,610,000	-6,796,000	5,880,000	-1,549,000
real estate acquired in exchange for assumption of notes payable																								0	0	0	-1,817,000
payments for capital expenditures to maintain real estate facilities for:
costs incurred during the period																							-42,839,000	-57,147,000	-57,204,000	-36,202,000	-25,428,000
costs incurred in previous periods																							-14,665,000	-23,000	-1,917,000	-1,218,000	-8,173,000
payments for development and expansion of real estate facilities for:
net effect of foreign exchange translation																							31,000	-104,000	45,000	-4,000	50,000	-28,000	-156,000	38,000	-25,000
assets damaged due to hurricanes
distributions from retained earnings of unconsolidated
distributions in excess of retained earnings from
unconsolidated real estate entities																												0								0	0
reclassification of existing investment to real estate in connection
with property acquisition
real estate facilities
distributions paid to public storage shareholders																										-403,118,000	-404,490,000	-403,281,000	-403,246,000	-403,061,000	-403,092,000	-402,750,000	-409,610,000	-409,653,000	-408,334,000	-406,995,000	-369,718,000	-371,710,000	-357,335,000	-353,705,000	-355,693,000	-355,770,000	-305,863,000	-302,747,000	-299,697,000	-294,226,000	-267,303,000	-237,562,000	-240,194,000	-243,243,000	-213,998,000	-218,635,000	-220,108,000	-193,505,000	-193,178,000	-194,430,000	-173,135,000
decrease in cash and equivalents, including restricted cash
decrease in cash, equivalents, and restricted cash																											-142,616,000				-70,052,000
cash, equivalents, and restricted cash at beginning of the period:
cash, equivalents, and restricted cash at end of the period:
gain due to shurgard europe public offering
construction in process																												-82,210,000	-90,552,000	-90,825,000	-75,215,000	-97,997,000	-75,938,000	-93,580,000	-70,964,000	-79,504,000	-55,414,000	-67,023,000	-67,975,000	-68,951,000	-59,442,000	-37,429,000	-62,656,000	-31,524,000	-22,986,000	-25,517,000	-20,491,000	-3,643,000	-625,000	-997,000	-2,421,000	-6,212,000	-6,444,000	-4,087,000	-3,488,000	-3,517,000	-4,854,000
issuance of notes payable																																-52,000
increase in cash, equivalents, and restricted cash																												-71,093,000	93,682,000
accrued development costs and capital expenditures:
adjustments to reconcile net income to net cash provided
by operating activities:
net cash from operating activities																																473,160,000	537,192,000	506,244,000	459,083,000	465,296,000	515,326,000	523,734,000	440,980,000	434,532,000	472,035,000	456,843,000	369,191,000	427,103,000	395,337,000	330,709,000	367,094,000	349,978,000	326,287,000	279,490,000	294,659,000	326,329,000	317,645,000	264,819,000	296,102,000	292,490,000	233,122,000
capital expenditures																																0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
free cash flows																																473,160,000	537,192,000	506,244,000	459,083,000	465,296,000	515,326,000	523,734,000	440,980,000	434,532,000	472,035,000	456,843,000	369,191,000	427,103,000	395,337,000	330,709,000	367,094,000	349,978,000	326,287,000	279,490,000	294,659,000	326,329,000	317,645,000	264,819,000	296,102,000	292,490,000	233,122,000
net cash from investing activities																																-342,657,000	-151,775,000	-127,281,000	-118,141,000	-261,167,000	-167,764,000	-125,117,000	-162,678,000	-154,019,000	-98,112,000	-93,827,000	-94,147,000	-91,939,000	-71,348,000	173,069,000	-441,898,000	-63,093,000	-70,351,000	-54,295,000	20,904,000	91,999,000	90,269,000	-284,527,000	-55,139,000	-78,700,000	-106,203,000
net cash from financing activities																																-397,607,000	-49,389,000	-141,435,000	-403,788,000	-77,472,000	-550,543,000	-444,545,000	-76,266,000	-212,506,000	-358,481,000	-495,105,000	-309,513,000	-624,374,000	-36,685,000	-421,909,000	-280,557,000	-189,884,000	-438,219,000	256,117,000	-336,634,000	-401,449,000	-408,939,000	-291,524,000	-200,778,000	-459,081,000	-169,861,000
net increase in cash, equivalents, and restricted cash
cash, equivalents, and restricted cash at beginning of the period
cash, equivalents, and restricted cash at end of the period
casualty loss
net increase in cash and cash equivalents																																	336,028,000	237,528,000	-62,846,000			-45,928,000	202,036,000	68,007,000	15,442,000	-132,089,000	-34,469,000	-289,210,000	287,304,000	81,869,000	-355,361,000	97,001,000	-182,283,000	481,312,000
net effect of foreign exchange translation on cash and cash equivalents																																	-61,000	-121,000	17,000	-182,000	70,000							-521,000	-433,000	74,000	1,416,000
cash and cash equivalents at the beginning of the period																																	0	0	183,688,000	0	0	0	104,285,000	0	0	0	187,712,000	0	0	19,169,000	0	0	0	139,008,000		0	0	456,252,000	0	0	763,789,000
cash and cash equivalents at the end of the period																																	335,967,000	237,407,000	120,859,000	126,475,000	-202,911,000	-45,581,000	305,705,000	68,617,000	15,412,000	-132,541,000	152,797,000	-289,731,000	286,871,000	101,112,000	-353,945,000	97,277,000	-181,604,000	620,079,000		16,246,000	-618,000	145,105,000	39,143,000	-245,646,000	719,982,000
issuance of senior unsecured notes																																				0	0
shared-based compensation expense
disposition of portion of loan receivable from
shurgard europe
repayments of loan receivable from shurgard europe
repayments on bank credit facility																																												0	0	-50,100,000	0
repayments on term loan																																												-322,000,000	-50,000,000	-328,000,000
net decrease in cash and cash equivalents																																																				16,879,000	-1,025,000	-311,232,000	40,185,000	-245,291,000	-42,942,000
borrowings on bank credit facility
cash paid upon vesting in lieu of issuing common shares																																						-267,000	-13,037,000
distributions received from unconsolidated real estate
entities less than equity in earnings																																							-2,413,000	-5,025,000	-2,914,000	716,000	-8,019,000
net effect of foreign exchange translation on cash and
cash equivalents																																							-616,000	610,000	-30,000	-452,000	-446,000
gain on real estate sales																																								0	-343,000	-16,688,000	-1,472,000	-1,260,000
investment in unconsolidated real estate entities
proceeds from sale of real estate facilities																																								0	1,084,000	4,692,000	9,237,000
disposition of portion of loan receivable from shurgard europe																																												0	0	216,217,000
borrowings (repayments) on bank credit facility
adjustments to reconcile net income to net cash from operating
activities:
distributions received from unconsolidated real estate entities less
than equity in earnings
acquisition of real estate facilities and intangibles																																												-239,198,000			-370,852,000
adjustments to reconcile net income to net cash from operating activities:
distributions received from unconsolidated real estate entities less than equity in earnings																																													-1,225,000	-1,728,000
gain on real estate sales, including amounts in discontinued operations
depreciation and amortization, including amounts in discontinued operations																																															96,537,000	89,991,000	88,588,000	86,938,000	89,830,000	90,956,000	89,186,000	88,553,000	92,648,000	85,205,000	84,886,000
distributions received from unconsolidated real estate entities (less than) in excess of equity in earnings																																															-2,775,000
acquisition of investments in unconsolidated real estate entities
proceeds from sale of other real estate investments
gain on real estate sales and debt retirement, including amounts in discontinued operations																																																			-7,739,000
asset impairment charges																																																									1,008,000
distributions received from unconsolidated real estate entities in excess of equity in earnings
capital improvements to real estate facilities																																																-18,344,000	-26,020,000	-14,278,000	-12,751,000	-12,734,000	-32,418,000	-11,874,000	-31,626,000	-32,190,000	-4,812,000
acquisition of real estate facilities and property intangibles																																																-55,760,000	-46,097,000	-41,970,000	-16,340,000	-26,527,000	-8,165,000	-26,196,000
proceeds from sales of other real estate investments																																																			8,682,000	4,353,000	-51,000	451,000	4,689,000	9,821,000	932,000
loans to unconsolidated real estate entities
repayments of loans receivable from unconsolidated real estate entities
disposition of loans receivable from unconsolidated real estate entities
maturities of marketable securities
other investing activities																																																-1,319,000	2,391,000	2,950,000	627,000	-3,304,000	3,445,000	396,000	-5,239,000	12,032,000	-2,221,000
principal payments on notes payable																																																-20,499,000	-3,904,000	-24,884,000	-19,944,000	-27,598,000	-21,278,000	-105,535,000	-2,394,000	-53,216,000	-1,965,000
net proceeds from the issuance of common shares																																																5,439,000	5,846,000	9,722,000	10,688,000	2,755,000	1,600,000	11,373,000	10,387,000	14,393,000	11,822,000
issuance of cumulative preferred shares																																																479,931,000	278,355,000	893,170,000	0	471,963,000			0
redemption of cumulative preferred shares																																																-415,625,000	-476,634,000	-356,687,000	-105,000,000
acquisition of redeemable noncontrolling interests
acquisition of permanent noncontrolling interests																																																0	-654,000	-322,000	-6,303,000
net effect of foreign exchange translation on cash																																																276,000	679,000	-241,000	-654,000	-633,000	407,000	85,000	-1,042,000	-355,000	-865,000
loss on real estate sales and debt retirement, net, including amounts in discontinued operations
distributions received from unconsolidated real estate entities in excess of equity in earnings of unconsolidated real estate entities
acquisition of investments in unconsolidated real estate facilities
acquisition of redeemable noncontrolling interests in subsidiaries																																																	0	-19,900,000
distributions received from unconsolidated real estate entities in excess of (less than) equity in earnings of unconsolidated real estate entities																																																		1,957,000
proceeds from repayments of loans receivable from unconsolidated real estate entities
asset impairment charges, including amounts in discontinued operations																																																			0				0
distributions received from unconsolidated real estate entities (less than) in excess of equity in earnings of unconsolidated real estate entities
proceeds from disposition of loan receivable from unconsolidated real estate entities
net sales (purchases) of marketable securities																																																			0	49,000	0	102,230,000
repurchases of senior unsecured notes payable
redemption of equity shares, series a
cash and cash equivalents at the beginning of the year
cash and cash equivalents at the end of the year
distributions received from real estate entities in excess of equity in earnings of real estate entities																																																				-2,795,000
loans to real estate entities																																																				0
proceeds from repayments of loans receivable from real estate entities																																																				136,374,000
proceeds from disposition of loan receivable from real estate entities																																																				0
acquisition of investments in real estate entities																																																				0
loss on disposition of real estate investments, including amounts in discontinued operations																																																					70,000	55,000
gain on early retirement of debt																																																							0
repurchases of cumulative preferred shares																																																							-9,200,000
repurchases of equity shares, series a																																																							0
acquisition of permanent noncontrolling equity interests
distributions received from real estate entities (less than) in excess of equity in earnings of real estate entities																																																						-820,000
loan to ps business parks																																																						-121,000,000
loan to shurgard europe																																																						-237,877,000
proceeds from repayments of loan receivable from shurgard europe																																																						13,430,000
distributions paid to redeemable noncontrolling interests																																																						-294,000	-296,000	-284,000	-304,000
distributions paid to permanent noncontrolling interests																																																						-3,563,000
gain on disposition of real estate investments, including amounts in discontinued operations																																																							-2,707,000	-4,713,000	-770,000
distributions received from real estate entities in excess of (less than) equity in earnings of real estate entities																																																							3,313,000	3,527,000	2,745,000
acquisition of real estate facilities and tenant intangibles																																																							-27,282,000
acquisition of common stock of ps business parks
net purchases of marketable securities
repurchases of permanent noncontrolling equity interests
distributions paid to permanent noncontrolling equity interests																																																							-6,097,000	-5,394,000	-6,279,000
proceeds from repayment of loan receivable from shurgard europe
purchases of marketable securities																																																								0	-95,248,000
redemption of senior unsecured notes payable
impairment charge on intangible asset included in discontinued operations
foreign currency exchange (gain) loss
acquisition of real estate facilities
proceeds from sales of real estate and other real estate investments
proceeds from the disposition of interest in shurgard europe
deconsolidation of shurgard europe
investment in shurgard europe
sale of real estate investments to affiliates
issuance of secured note payable
net repayments on bank credit facilities
proceeds from borrowing on debt of existing european joint ventures
net proceeds from the issuance of cumulative preferred shares
repurchases of common shares
repurchases of permanent noncontrolling interests

Public Storage(NYSE:PSA)

Public Storage
(NYSE:PSA)