---
schema_version: "secwatch.filing_event.v1"
accession: "0001628280-26-001156"
form_type: "8-K"
ticker: "PSA"
cik: "0001393311"
company_name: "Public Storage"
filed_at: "2026-01-07T23:59:59+00:00"
generated_at: "2026-05-16T11:20:04.091711+00:00"
event_type: "other_material"
sentiment: "neutral"
materiality_score: 0.65
calibrated_materiality_score: 0.65
confidence: "high"
source: SEC EDGAR
---

# Public Storage reports Q4 2025 operating update: occupancy up, move-in rents down 10.6%; acquired $942M in properties

## Summary
- Q4 2025 move-in rent per sq ft down 10.6% YoY to $11.60; occupancy at 91.0%, up 50 bps from Dec 2024.
- Full-year 2025 same-store move-in rent -6.5% to $12.80; move-out rent -1.4% to $20.30; discounts -11% to $56.9M.
- Acquired 87 self-storage facilities for $942.2M (6.1M sq ft) in 2025.
- Annual contract rent per occupied sq ft at Dec 31: $22.55, down 0.7% from $22.72 a year ago.

## SEC filing metadata
- accession: 0001628280-26-001156
- form_type: 8-K
- ticker: PSA
- cik: 0001393311
- company_name: Public Storage
- filed_at: 2026-01-07T23:59:59+00:00
- event_type: other_material
- sentiment: neutral
- materiality_score: 0.65
- calibrated_materiality_score: 0.65
- confidence: high
- sec_items: 7.01, 8.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1393311/000162828026001156/0001628280-26-001156-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1393311/000162828026001156/psa-20260107.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001628280-26-001156
- JSON: https://secwatch.observer/filing/0001628280-26-001156.json
- Plain text: https://secwatch.observer/filing/0001628280-26-001156.txt

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.