Public Storage files resale prospectus covering up to 120,011 common shares from LP unit redemptions

Public Storage

Prospectus filed Nov. 9, 2026 covers potential resale from time to time by named selling securityholders of up to 120,011 PSA common shares.
Shares may be issued upon redemption of limited partnership units of a Public Storage subsidiary held by those selling securityholders.
Exhibit 5.1 legal opinion from Hogan Lovells Cadwalader US LLP filed with consent; company states 8-K's sole purpose is filing that opinion.
Dilution limited: 120,011 shares is roughly 0.07% of PSA's common shares outstanding; no pricing, underwriting or new capital raise disclosed.

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