What is the 13F Pro Quality Score for PSA?

13F Pro ranks Public Storage (PSA) on the 13F Pro Quality Score, a 0–100 composite of 32 fundamental signals including return on invested capital, free cash flow consistency, balance-sheet strength, earnings quality, growth durability, and valuation discipline. The score refreshes after each 10-K and 10-Q filing on SEC EDGAR. View PSA's current score at https://13fpro.ai/research/PSA (free sign-up required for the full ranking).

Where does 13F Pro source PSA data?

All Public Storage fundamentals and ownership data come directly from SEC EDGAR. Public Storage files with the SEC under CIK 1393311. 13F Pro ingests XBRL financial facts from 10-K and 10-Q filings, Form 13F-HR institutional holdings, and Form 4 insider transactions, with no third-party rewrites or estimates.

What sector is PSA in?

Public Storage (PSA) is classified in the Real Estate sector. 13F Pro publishes sector-level fund flow analysis and quality leaders at https://13fpro.ai/research/sector/real-estate.

What drives PSA's revenue?

Per Public Storage's latest 10-Q filed with the SEC on 2026-04-27, the biggest revenue drivers are: Self-storage facilities ($1,128.1M, +2.3% YoY); Ancillary operations ($89.6M, +11.8% YoY). Figures are extracted from the filing text and machine-verified against the document. Full breakdown at https://13fpro.ai/research/PSA.

What are PSA's largest expenses?

Public Storage's latest 10-Q reports these as the largest expense items: Depreciation and amortization ($290.7M, +2.8% YoY); Self-storage cost of operations ($305.7M, +1.5% YoY); Interest expense ($80.0M, +11.1% YoY). Sourced directly from SEC EDGAR filing text for Q1 2026 (quarter ended March 31, 2026).

How often is PSA research updated on 13F Pro?

PSA's fundamentals refresh within hours of each new 10-K or 10-Q filing on SEC EDGAR. Institutional ownership updates after each quarterly 13F filing window. Insider transactions update after each Form 4 filing. The 13F Pro Quality Score recalculates after every fundamentals refresh.

Public Storage(PSA)Stock Analysis

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SEC EDGAR: CIK 1393311 PSA stock profile & AI dashboard →

13F Pro Quality Score

73.9/100

Rank #173 of 2,879 stocksTOP 10%

View Real Estate peers →

Rankings refresh quarterly once 80% of peers have filed (~45 days after quarter-end). Next update: ~Aug 14, 2026.

Revenue Growth

45.0/100

Profitability

91.0/100

Balance Sheet

84.5/100

Earnings Quality

27.2/100

Free Cash Flow

95.0/100

Institutional Flow

73.3/100

Revenue Scale

77.6/100

Dilution Risk

62.3/100

PSA Stock Analysis & AI Quality Score

AI stock analysis and institutional research for Public Storage (PSA), a Real Estate sector company. 13F Pro's AI-powered ranking engine scores PSA at 73.9/100 on a 32-signal composite quality model, placing it at rank #173 of 2,879 stocks — the top 10% of the AI-ranked universe. PSA scores in the top quartile across free cash flow (95.0), profitability (91.0), balance sheet strength (84.5). Areas of concern include earnings quality (27.2), which score below median versus the broader universe. Based on the latest XBRL financial filings (Q1 2026), Public Storage reports quarterly revenue of $1.2B, net income of $526.3M, an operating margin of 39.0%. Top institutional holders of PSA by reported 13-F value include BlackRock,, VANGUARD PORTFOLIO MANAGEMENT, VANGUARD CAPITAL MANAGEMENT, based on the most recent SEC filings. PSA trades on the NYSE exchange and files with the SEC under CIK 1393311. 13F Pro's AI research platform runs 10 specialized AI analysts — value, growth, momentum, macro, and activist specialists — that debate PSA daily and publish AI-generated analysis with cited SEC sources. The platform aggregates historical XBRL financial facts, 10-Q and 10-K filings, insider Form 4 transactions, and institutional 13-F holdings for Public Storage directly from SEC EDGAR. Public Storage's 13F Pro composite quality score has ranged between 71 and 85 since 2021, currently 73.9 — a stable long-term trajectory across 28 quarterly and live scoring snapshots.

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Fun facts about Public Storage

Quirks, history, and lore behind PSA — the kind of stuff that makes a stock memorable.

1
The Basics
U.S. real estate company · structured as a REIT · listed on the NYSE · headquartered in California.
2
The Numbers
Owns and operates roughly 3,000 locations across the country, making it one of the largest REITs by market cap in the entire sector.
3
The History
Founded in the 1970s, it rode a very American wave: people accumulating more stuff than their homes could hold and needing somewhere to put it all.
4
The Secret
Its business is essentially renting small rooms to millions of ordinary people — and raising their rates just often enough to keep Wall Street happy.
5
The Lore
Those distinctive orange and white facilities are so ubiquitous they've become an accidental landmark of suburban America — and the company owns most of its properties outright rather than leasing them.
6
The Giveaway
It's the largest self-storage company in the world — your old couch, your college boxes, and your ex's guitar are probably in one of its bright orange units right now.

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What's Driving PSA's Business? Latest 10-Q Breakdown

✓ 27/27 datapoints verified

AI-extracted from Public Storage's 10-Q filed 2026-04-27 — Q1 2026 (quarter ended March 31, 2026). Every figure is machine-verified against the filing text on SEC EDGAR.

Self-storage net operating income grew 2.6% to $822.4M driven by acquisitions and new developments, while foreign exchange gains of $41.7M offset interest expense pressures.

Biggest Revenue Drivers

Total revenue: $1,217.7M+2.9% YoY

Self-storage facilities$1,128.1M+2.3% YoY

Growth from Acquired Facilities (+35.4%) and Newly Developed and Expanded Facilities (+15.2%), partially offset by flat Same Store Facilities revenue.

Ancillary operations$89.6M+11.8% YoY

Tenant reinsurance premiums increased 11.3% and third-party property management revenues grew 19.8%.

Largest Expense Items

Depreciation and amortization$290.7M+2.8% YoY

Increase driven by newly acquired and developed facilities added to portfolio.

Self-storage cost of operations$305.7M+1.5% YoY

Same Store cost of operations decreased 1.1% but Non-Same Store facilities incurred higher stabilization costs.

Interest expense$80.0M+11.1% YoY

Higher due to issuance of unsecured notes in 2025 and utilization of $325M Credit Facility in 2026.

General and administrative$30.4M+20.5% YoY

Increase driven by $2.7M corporate transformation costs, $2.6M CEO transition costs, and $1.9M higher executive labor costs.

Margins: Self-storage gross margin (before depreciation) was 73.9%, up 30 basis points YoY at Same Store Facilities as occupancy gains offset lower realized rents. Overall operating income increased 2.2% to $474.3M despite higher depreciation and interest costs.

Watch Items from the Filing

NSA acquisition announced March 16, 2026: 1,000+ properties, 69M sq ft across 37 states; expected Q3 2026 close pending NSA shareholder approval; requires assumption of NSA debt and $240M mezzanine loan to newly formed JV.
Same Store Facilities revenues essentially flat YoY; realized rent per occupied sq ft declined 0.3% despite occupancy up 0.4%, indicating pricing pressure from elevated move-in rates.
Foreign currency gains of $41.7M in Q1 2026 (vs. $68.7M losses in Q1 2025) dependent on Euro/USD exchange rate fluctuations; $2.0B Euro-denominated debt outstanding.
Development pipeline of $618.4M with $202.7M spent; 120 Newly Developed and Expanded Facilities still in stabilization, contributing negative net income of $8.1M and $8.3M in Acquired Facilities.

AI-extracted and verified against SEC EDGAR filing text. Not investment advice.

Read the full 10-Q on SEC EDGAR →Share on X

Revenue

Q1 2026

$1.2B

Net Income

Q1 2026

$526.3M

Free Cash Flow

Q1 2026

$694.8M

Operating Margin

Q1 2026

39.0%

D/E Ratio

Q1 2026

1.05

Revenue & Net Income

Earnings Per Share

Key Financials Over Time

Export Financial Table · Pro+

Revenue

+2.7% YoY

$4.82BFY 2025

FY22 $4.18BFY23 $4.52BFY24 $4.70BFY25 $4.82B

Net Income

-13.9% YoY

$1.78BFY 2025

FY22 $4.35BFY23 $2.15BFY24 $2.07BFY25 $1.78B

EPS (Diluted)

-15.3% YoY

$9.01FY 2025

FY22 $23.50FY23 $11.06FY24 $10.64FY25 $9.01

Total Assets

+2.3% YoY

$20.21BFY 2025

FY22 $17.55BFY23 $19.81BFY24 $19.75BFY25 $20.21B

Total Debt

+9.6% YoY

$10.25BFY 2025

FY22 $6.87BFY23 $9.10BFY24 $9.35BFY25 $10.25B

Op. Cash Flow

+1.9% YoY

$3.19BFY 2025

FY22 $3.12BFY23 $3.25BFY24 $3.13BFY25 $3.19B

Metric	FY 2025	FY 2024	FY 2023	FY 2022	FY 2020	FY 2019
Revenue	$4.82B +2.7%	$4.70B +3.9%	$4.52B +8.0%	$4.18B +43.5%	$2.92B +2.1%	$2.86B
Net Income	$1.78B -13.9%	$2.07B -3.6%	$2.15B -50.6%	$4.35B +220.4%	$1.36B -10.7%	$1.52B
EPS (Diluted)	$9.01 -15.3%	$10.64 -3.8%	$11.06 -52.9%	$23.50 +273.6%	$6.29 -13.7%	$7.29
Total Assets	$20.21B +2.3%	$19.75B -0.3%	$19.81B +12.9%	$17.55B +48.5%	$11.82B +4.0%	$11.37B
Total Debt	$10.25B +9.6%	$9.35B +2.7%	$9.10B +32.5%	$6.87B +170.0%	$2.54B +33.8%	$1.90B
Operating Cash Flow	$3.19B +1.9%	$3.13B -3.6%	$3.25B +4.2%	$3.12B +52.6%	$2.04B -1.2%	$2.07B

AI Insight: PSA Financial Trends

Revenue growth stalls near $1.22B while debt load jumped ~$1B year-over-year and equity has eroded for five consecutive quarters.

• Revenue grew modestly from $1,173M in Q2 2024 to $1,218M in Q1 2026, a ~3.8% gain over seven quarters.

• Total debt surged from $9,401M in Q2 2024 to $10,254M in Q4 2025, before easing to $9,707M in Q1 2026.

• Equity has declined steadily from $9,707M in Q2 2024 to $9,224M in Q1 2026, a $483M contraction.

• Operating cash flow weakened from $895M in Q2 2024 to $695M in Q1 2026, a ~22% drop.

⚠ Debt-to-equity ratio rose from ~0.97x in Q2 2024 to ~1.05x in Q1 2026, signaling rising leverage as equity shrinks.

⚠ Net income is volatile — swinging from $615M in Q4 2024 to $358M in Q2 2025 — with no clear stabilizing trend.

⚠ Operating cash flow recovery to $695M in Q1 2026 versus $873M–$875M mid-2025 warrants monitoring for seasonal or structural weakness.

AI Insight: PSA Ratio Trends

PSA's profitability metrics have deteriorated year-over-year, with Q1 2026 operating margin at 39.0% versus 44.6% in Q2 2024, while leverage has crept up to 1.05x D/E.

• Operating margin contracted sharply from 44.6% in Q2 2024 to 30.4% in Q2 2025, a 14.2pp year-over-year decline at the seasonal trough.

• ROIC followed the same path, falling from 10.9% in Q2 2024 to 7.4% in Q2 2025 before partially recovering to 10.0% in Q1 2026.

• D/E leverage rose from 0.96x in Q4 2024 to 1.11x in Q2 2025 and Q4 2025, signaling incremental balance sheet pressure.

• Q1 2026 NPM of 43.2% exceeded operating margin of 39.0%, suggesting below-the-line gains are flattering net income this quarter.

⚠ Q2 2025 was the weakest quarter across all metrics; confirm whether Q2 2026 shows a similar seasonal trough or further deterioration.

⚠ D/E has risen from 0.96x in Q4 2024 to 1.05x–1.11x range — monitor for continued leverage expansion heading into 2026.

⚠ NPM exceeding OpMargin in Q1 2026 warrants scrutiny; identify whether non-operating income is recurring or one-time in nature.

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Available Research

13F Pro tracks comprehensive data for Public Storage including:

SEC EDGAR filings (10-K, 10-Q, 8-K)

XBRL financial facts (revenue, EPS, margins)

Insider transactions (Form 4)

Institutional 13F holdings

Quality rankings (32 signals)

AI analyst debates & daily meetings

Historical financial trends

Peer comparison & sector analysis

Top Institutional Holders of PSA

BlackRock, Inc.
$4.5B16,744,586 sh
VANGUARD PORTFOLIO MANAGEMENT LLC
$3.7B13,542,250 sh
VANGUARD CAPITAL MANAGEMENT LLC
$2.8B10,266,097 sh
STATE STREET CORP
$2.8B10,234,445 sh
Capital International Investors
$1.7B6,363,818 sh
GEODE CAPITAL MANAGEMENT, LLC
$1.1B4,222,966 sh
FMR LLC
$980.5M3,619,703 sh
CHARLES SCHWAB INVESTMENT MANAGEMENT INC
$869.9M3,208,860 sh
NORTHERN TRUST CORP
$625.5M2,309,054 sh
DIMENSIONAL FUND ADVISORS LP
$617.7M2,280,540 sh

Fund	Value	Shares
BlackRock, Inc.	$4.5B	16,744,586
VANGUARD PORTFOLIO MANAGEMENT LLC	$3.7B	13,542,250
VANGUARD CAPITAL MANAGEMENT LLC	$2.8B	10,266,097
STATE STREET CORP	$2.8B	10,234,445
Capital International Investors	$1.7B	6,363,818
GEODE CAPITAL MANAGEMENT, LLC	$1.1B	4,222,966
FMR LLC	$980.5M	3,619,703
CHARLES SCHWAB INVESTMENT MANAGEMENT INC	$869.9M	3,208,860
NORTHERN TRUST CORP	$625.5M	2,309,054
DIMENSIONAL FUND ADVISORS LP	$617.7M	2,280,540

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Is PSA a good stock to buy?

13F Pro's AI-powered analysis of Public Storage (PSA) draws on SEC EDGAR-sourced fundamentals, institutional 13F holdings, and insider Form 4 transactions in the Real Estate sector (listed on NYSE). The 32-signal AI Quality Score, current rank, and full bull/bear verdict for PSA are available on the PSA stock profile dashboard — with the same data, AI insights, ratios, and institutional activity refreshed after every 10-K, 10-Q, 13F, and Form 4 filing.

Which hedge funds own PSA?

Institutional investors are required to disclose their holdings quarterly via SEC Form 13F. 13F Pro aggregates these filings to show which hedge funds, mutual funds, and asset managers are buying or selling PSA. Combined with insider transaction data from Form 4 filings and AI-powered analysis from 10 specialized research agents, 13F Pro provides a comprehensive view of Public Storage's investment landscape.