Welcome to our dedicated page for Public Storage SEC filings (Ticker: PSA), a comprehensive resource for investors and traders seeking official regulatory documents including 10-K annual reports, 10-Q quarterly earnings, 8-K material events, and insider trading forms.
The Public Storage (NYSE: PSA) SEC filings page on Stock Titan provides access to the company’s regulatory disclosures as filed with the U.S. Securities and Exchange Commission. Public Storage is an S&P 500 real estate investment trust that primarily acquires, develops, owns, and operates self-storage facilities and reports under Commission File Number 001-33519.
Through its Forms 8-K, Public Storage reports material events and operating updates, including quarterly and year-to-date financial results, acquisitions of self-storage facilities, development and expansion activity, and changes in its Board of Trustees. These filings often include reconciliations from net income to Funds from Operations (FFO) and Core FFO, as well as detailed Same Store Facilities operating metrics such as occupancy and annual contract rent per occupied square foot.
Filings also document capital markets transactions. Public Storage Operating Company, a subsidiary of Public Storage, issues unsecured senior notes that are guaranteed by the company. Related 8-K filings describe underwriting agreements, interest rates, maturities, covenants, and the intended use of proceeds, such as repaying existing notes and funding acquisitions or general corporate purposes. Other filings list the company’s common shares, multiple series of cumulative preferred shares represented by depositary shares, and guarantees of senior notes, all registered and traded on the New York Stock Exchange.
On this page, Stock Titan enhances PSA’s SEC filings with AI-powered summaries that explain the significance of each document in clear language. Real-time updates from EDGAR allow users to review new 8-Ks and other filings as they are posted, while AI highlights key figures, capital structure changes, and portfolio developments. Investors can also use this page to reference historical filings for context on Public Storage’s self-storage operations, financing strategy, and dividend-related disclosures.
Public Storage director Mitra Shankh privately bought 561,293 OP Options from Public Storage OP, L.P. at $44.54 per option. These out-of-the-money non-qualified OP Options become fully exercisable on the sixth anniversary of the settlement date.
Each OP Option relates to OP Units of Public Storage OP, which the reporting person may later exchange for Public Storage common shares or the cash value equivalent of those shares.
Public Storage executive Joseph D. Fisher filed an initial ownership report showing 68,886 AO LTIP Units tied to a recent promotion award. These units vest over a long period, with 60% vesting on the sixth anniversary of the grant and the remaining 40% vesting ratably over the following two years. The units become exercisable in stages on February 10, 2032, February 10, 2033, and February 10, 2034, and can ultimately be exchanged into Public Storage common shares or cash.
Public Storage director John Reyes reported equity incentive activity involving partnership units tied to the company’s common shares. He exercised or converted 28,275 AO LTIP Units at a price of $0.00 per unit, and separately received a grant of 6,980.49 LTIP Units, also at $0.00 per unit. Following these derivative acquisitions, he directly holds 76,582.65 LTIP and/or related OP Units, which represent interests that can ultimately be redeemed for Public Storage common shares or their cash value under the partnership structure.
Public Storage executive Tom Boyle, the company’s CFO and CIO, received a promotion-related grant of 242,248 AO LTIP Units in Public Storage OP, L.P. on February 10, 2026. These units were awarded at a price of $0 per unit as equity-based compensation.
The AO LTIP Units vest 60% on the sixth anniversary of the grant date, with the remaining 40% vesting ratably over the following two years. They become exercisable as to 60% on February 10, 2032, 20% on February 10, 2033, and 20% on February 10, 2034, and are scheduled to expire on February 9, 2036.
Public Storage, a Maryland REIT, describes its business as the leading U.S. owner, developer, and operator of self‑storage facilities, with 3,171 properties totaling 229 million net rentable square feet across 40 states as of December 31, 2025.
The company also earns income from tenant reinsurance, third‑party management of 362 facilities, a $142.1 million bridge lending program to self‑storage owners, and a 35% stake in European operator Shurgard. It highlights heavy use of technology, including its website, customer care center, eRental process, and mobile app to drive rentals and pricing.
Public Storage details growth strategies focused on improving same‑store performance, acquisitions, development and expansions, and scaling ancillary businesses. It emphasizes human capital, sustainability, and climate initiatives, while outlining extensive risk factors, including natural disasters, competition, regulation, cybersecurity, elevated interest rates, and maintaining REIT status.
Public Storage reported softer 2025 results but stable cash flow and laid out a cautious 2026 outlook. Q4 net income per diluted share fell to $2.60 from $3.21, and full-year net income per share declined to $9.01 from $10.64, while Core FFO per share inched up to $16.97 from $16.67.
Same Store revenues were essentially flat in 2025 and Same Store NOI dipped 0.5%, though margins remained high at around the mid‑70% range. The company continued to grow its footprint, acquiring 87 facilities for $945.6 million and adding 2.1 million net rentable square feet through development and expansions.
For 2026, guidance calls for Same Store NOI growth between (3.9)% and (0.5)% and Core FFO per share between $16.35 and $17.00, signaling a challenging operating environment. As part of its PS4.0 initiative, long‑time CEO Joe Russell will retire on March 31, 2026, with Tom Boyle becoming CEO on April 1, 2026 and Joe Fisher stepping in as President and CFO.
Public Storage announced a broad leadership and strategy reset branded “PS4.0.” Joseph D. Russell Jr. will retire as President and CEO on March 31, 2026, with H. Tom Boyle becoming CEO and trustee on April 1, 2026. Joseph D. Fisher will join as President, Chief Financial Officer on February 16, 2026, and Natalia N. Johnson and Chris C. Sambar were promoted to president-level operating roles. The Board will shift as Shankh S. Mitra becomes non-executive Chairman on April 1, 2026, while Ronald L. Havner steps down as Chair but remains a trustee and John Reyes retires at the 2026 annual meeting. Russell will serve as a consultant through March 31, 2027 for $400,000 per month.
The company is relocating its corporate headquarters to Frisco, Texas. Mitra and Havner are investing $25 million and $5 million, respectively, into 10-year out-of-the-money operating partnership options with a $350 exercise price and a six-year lock-out. PS4.0 centers on three pillars: the PS Next operating platform to enhance customer experience and margins; a “value creation engine” to deploy capital across acquisitions, development, expansions and lending; and an “Own It” culture with redesigned incentives tied to relative and absolute shareholder returns. Over the past five years the company deployed more than $12 billion into growth and, over the past three years, outperformed the self-storage sector by 2.7% in NOI growth with a 78.4% direct operating margin.
Public Storage director John Reyes reported derivative unit conversions into common shares. On February 6, 2026, he exercised 25,000 AO LTIP Units, each tied to Public Storage common shares, at a reference value of
He also converted 5,296.17 LTIP Units into an equal number of common shares on the same date at a price of
The Vanguard Group has filed an amended Schedule 13G indicating passive ownership of Public Storage common stock. Vanguard reports beneficial ownership of 25,340,935 shares, representing 14.44% of the outstanding common stock, with no sole voting or dispositive power.
Vanguard reports shared voting power over 1,664,440 shares and shared dispositive power over all 25,340,935 shares. The securities are held for clients in the ordinary course of business, and Vanguard certifies they are not held to change or influence control of Public Storage.
The filing also notes an internal realignment effective January 12, 2026, under which The Vanguard Group, Inc. no longer performs portfolio management or proxy voting, and certain subsidiaries or divisions are expected to report beneficial ownership on a disaggregated basis while pursuing the same investment strategies as before.
Public Storage President and CEO Russell Joseph Jr. reported an equity award of 25,207 LTIP Units on January 27, 2026 under the company’s 2026 named executive officer compensation program. These LTIP Units vest in three equal annual installments starting one year after the grant date.
Once vested and after certain tax-related allocation conditions are met, the LTIP Units can convert into OP Units of Public Storage OP, L.P., which the executive may exchange for Public Storage common shares or the cash value of those shares. Following this grant, he beneficially owns 95,875.82 LTIP Units, including 55,046.82 vested units and 40,829 subject to time-based vesting.