v3.26.1
CONSOLIDATED BALANCE SHEETS - USD ($)
$ in Thousands
Jun. 30, 2026
Dec. 31, 2025
ASSETS    
Cash and equivalents $ 259,936 $ 318,095
Real estate facilities, at cost:    
Land 5,999,442 5,952,072
Buildings 24,503,343 24,126,185
Total land and buildings, at cost 30,502,785 30,078,257
Accumulated depreciation (12,008,797) (11,468,054)
Total land and buildings, net 18,493,988 18,610,203
Construction in process 260,088 194,355
Total real estate facilities, net 18,754,076 18,804,558
Investment in unconsolidated real estate entity 364,794 388,586
Goodwill and other intangible assets, net 228,005 251,613
Notes receivable, net 173,300 142,108
Other assets 337,621 303,644
Total assets 20,117,732 20,208,604
LIABILITIES AND EQUITY    
Notes payable 10,180,215 10,253,881
Accrued and other liabilities 651,705 612,889
Total liabilities 10,831,920 10,866,770
Commitments and contingencies (Note 15)
Public Storage shareholders’ equity:    
Preferred Shares, $0.01 par value, 100,000,000 shares authorized, 174,000 shares issued (in series) and outstanding, (174,000 shares at December 31, 2024) at liquidation preference 4,350,000 4,350,000
Common Shares, $0.10 par value, 650,000,000 shares authorized, 175,462,847 shares issued (175,408,393 shares at December 31, 2024) 17,562 17,550
Paid-in capital 6,214,483 6,147,650
Accumulated deficit (1,345,970) (1,219,273)
Accumulated other comprehensive loss (45,795) (47,799)
Total Public Storage shareholders’ equity 9,190,280 9,248,128
Noncontrolling interests 95,532 93,706
Total equity 9,285,812 9,341,834
Total liabilities and equity $ 20,117,732 $ 20,208,604