Every 10-Q that Public Storage (PSA) has filed with the SEC in the last 24 months is listed below, newest first, and each one links through to the document itself with the summary and the scores our analysis gives it.
A 10-Q covers the quarterly report filed between annual reports, so if you follow PSA and want that one kind of document rather than the whole filing history, this is the page to keep. The company's other filings, of every form, are on the full PSA filings page.
Public Storage, a self-storage REIT, reported higher profitability for the quarter ended June 30, 2026. Net income allocable to common shareholders was $450.3 million ($2.55 diluted EPS) versus $309.0 million ($1.76) a year earlier, largely reflecting a much larger foreign currency gain on Euro‑denominated notes and higher equity in earnings from Shurgard.
For the first six months, net income allocable to common shareholders rose to $927.0 million ($5.26 diluted EPS) from $667.2 million ($3.79). Q2 consolidated revenues were $1,232.9 million. FFO per share increased to $4.21 from $3.44, while Core FFO per share declined slightly to $4.17 from $4.28.
Operating trends were mixed. Same Store Facilities saw Q2 revenues down 0.6% and NOI down 2.2%, with realized annual rent per occupied square foot modestly lower but occupancy slightly higher, alongside rising property taxes and other costs. Acquired Facilities’ NOI increased 34.8% and Developed and Expanded Facilities’ NOI rose 9.0%.
Growth and capital activity were significant. In the first half, Public Storage acquired 23 facilities for $243.2 million and completed $57.3 million of development. After quarter‑end it closed an all‑stock merger with National Storage Affiliates Trust, creating a platform of over 4,500 locations and roughly 327 million net rentable square feet. It also agreed to acquire PS Canada for $1.2 billion plus up to $288 million in earn‑outs. Liquidity was enhanced with a new $3.0 billion revolving credit facility, a $500 million delayed draw term loan and a $1.0 billion commercial paper program, with Debt to Total Assets around 18% under bond covenants.
Public Storage reported higher quarterly profitability with stable core operations and continued portfolio growth. For the quarter ended March 31, 2026, total revenues reached $1.22 billion and net income allocable to common shareholders increased to $476.8 million, or $2.71 per diluted share, helped by a large foreign currency gain on Euro debt.
Self‑storage net operating income rose 2.6% to $822.4 million, with Same Store revenues flat, slightly higher occupancy, and modestly lower operating costs, while non‑same store assets contributed most of the NOI growth. Core FFO per share increased 2.4% to $4.22, reflecting underlying cash earnings.
The company continued to expand, owning 3,176 U.S. self‑storage facilities totaling about 229.8 million net rentable square feet, and remained well within debt covenants with notes payable of $9.77 billion and Debt to Total Assets of approximately 18%. Public Storage also announced an all‑stock merger agreement to acquire National Storage Affiliates Trust, which would add more than 1,000 properties and create a large joint venture platform, pending NSA shareholder approval and customary closing conditions.
Public Storage (PSA) reported higher Q3 results. Revenue rose to $1.224 billion from $1.188 billion, driven by steady self-storage operations ($1.139 billion) and stronger ancillary revenue ($85 million). Net income increased to $515 million from $433 million. Net income allocable to common shareholders was $461 million, with diluted EPS of $2.62 versus $2.16 a year ago.
Year-to-date, revenue reached $3.608 billion, but net income was $1.287 billion versus $1.466 billion last year, largely reflecting a higher foreign currency exchange loss tied to Euro-denominated notes. Interest expense was $223 million for the nine months, while the company remained within note covenants.
PSA expanded its footprint by acquiring 74 facilities for $814.6 million and opened developed/redeveloped space costing $268.8 million. Notes payable were $10.04 billion, including June issuance of $875 million in U.S. dollar notes (4.375% due 2030; 5.000% due 2035). Subsequent to quarter-end, PSA issued €425 million of 3.500% notes due 2034, agreed to acquire 12 facilities for $119.9 million, and declared a $3.00 quarterly dividend (about $527 million). Common shares outstanding were 175,463,014 as of October 22, 2025.