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Argus

Argus

May 19, 2026

Public Storage: New customers renting fewer square feet

Symbols

PSA

Sector(s)

Real Estate

Rating

Earnings Estimate

Current Price

$303.00

Price Target

Summary

Public Storage, based in Frisco, Texas, is a REIT that operates self-storage facilities. As of the beginning of 2026, the company had about 3,500 self-storage facilities, of which 2,565 were same-store assets. At the beginning of 2026, PSA had about 258 million square feet of rentable space located in 40 states. Public Storage also has a 35% equity stake in Shurgard Self Storage Ltd., with about 332 facilities and 18 million square feet of rentable space in Western Europe.

Consolidated revenues in 2025 were $4.8 billion, of which $3.8 billion was from same-store assets an

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