Capital Expenditures for Public Storage (PSA)
According to Public Storage's latest reported financial statements, the company's current capital expenditures (TTM) is $326.78M USD. Capital expenditures (CapEx) are cash outlays for property, plant, and equipment and other long-lived productive assets — reported on the cash flow statement under investing activities. CapEx funds future capacity (factories, data centers, software, machinery), so rising spend can signal investment in growth, while heavy CapEx reduces free cash flow available to shareholders. We display CapEx as a positive amount (the absolute cash outflow); compare with revenue to gauge capital intensity and with total assets for the asset-base context.
Headline TTM above sums the four reported quarters through (reported ). Chart and table below cover the full reported history back to .
Currently viewingCapital ExpendituresSwitch metric
Latest period
$326.78M
YoY change
-31.1%
5Y CAGR
+11.2%
Peak year (2023)
$461.14M
Cumulative capital expenditures
$7.44B
CapEx history chart for Public Storage (PSA) from 1986 to 2025
CapEx history table for Public Storage (PSA) from 1986 to 2025
| Fiscal year | Period ended | Reported | Capital Expenditures | YoY |
|---|---|---|---|---|
| 2025 | $289.38M | -31.1% | ||
| 2024 | $420.02M | -8.9% | ||
| 2023 | $461.14M | +0.3% | ||
| 2022 | $459.77M | +70.1% | ||
| 2021 | $270.24M | +59.0% | ||
| 2020 | $170.00M | -9.2% | ||
| 2019 | $187.30M | +32.9% | ||
| 2018 | $140.98M | +16.9% | ||
| 2017 | $120.59M | -65.7% | ||
| 2016 | $351.35M | +19.5% | ||
| 2015 | $294.07M | +32.1% | ||
| 2014 | $222.53M | +39.2% | ||
| 2013 | $159.91M | +103.9% | ||
| 2012 | $78.42M | -11.8% | ||
| 2011 | $88.94M | -5.6% | ||
| 2010 | $94.26M | +51.2% | ||
| 2009 | $62.35M | -18.3% | ||
| 2008 | $76.31M | -71.1% | ||
| 2007 | $264.21M | -11.3% | ||
| 2006 | $297.93M | -18.8% | ||
| 2005 | $366.69M | +108.7% | ||
| 2004 | $175.66M | +32.5% | ||
| 2003 | $132.60M | -16.2% | ||
| 2002 | $158.22M | -29.1% | ||
| 2001 | $223.27M | -43.6% | ||
| 2000 | $395.65M | +14.7% | ||
| 1999 | $344.90M | +42.1% | ||
| 1998 | $242.80M | -21.9% | ||
| 1997 | $311.00M | +17.4% | ||
| 1996 | $264.90M | +121.3% | ||
| 1995 | $119.69M | +18.1% | ||
| 1994 | $101.34M | +38.3% | ||
| 1993 | $73.30M | +526.5% | ||
| 1992 | $11.70M | +800.0% | ||
| 1991 | $1.30M | -38.1% | ||
| 1990 | $2.10M | +23.5% | ||
| 1989 | $1.70M | — | ||
| 1988 | $0 | — | ||
| 1987 | $0 | — | ||
| 1986 | $0 | — |
CapEx values are taken from Public Storage's reported cash flow statements (10-Q quarterly and 10-K annual filings with the U.S. Securities and Exchange Commission). Each row shows the period end date and the date the filing was reported; YoY compares each figure to the same period one year earlier. Amounts are in USD as filed.
Analysis
2025's annual capital expenditures for Public Storage (PSA) came in at $289.38M – plunged 31.1% year-over-year.
Public Storage capital expenditures has recorded the values shown across consecutive periods, with a +11.2% compound annual growth rate over 2020–2025 (5 years).
Between 2023 and 2025, Public Storage capital expenditures plunged 37.2%, falling from $461.14M to $289.38M.
The highest annual capital expenditures of $461.14M was reported in 2023. The lowest in the available history was $0 in 1986.
Within Real Estate, Public Storage (PSA) ranks 5th among 8 peers we track. The peer median for capital expenditures is $248.90M.
Public Storage Capital Expenditures by Year
Public Storage Capital Expenditures 2025: $289.38M
Public Storage capital expenditures in 2025 was $289.38M, plunged 31.1% below 2024.
Public Storage Capital Expenditures 2024: $420.02M
Public Storage capital expenditures in 2024 was $420.02M, declined 8.9% below 2023.
Public Storage Capital Expenditures 2023: $461.14M
Public Storage capital expenditures in 2023 was $461.14M, edged up 0.3% from 2022. This figure represents the highest annual value in the available history.
Public Storage Capital Expenditures 2022: $459.77M
Public Storage capital expenditures in 2022 was $459.77M, surged 70.1% from 2021.
Public Storage Capital Expenditures 2021: $270.24M
Public Storage capital expenditures in 2021 was $270.24M.
See more financial history for Public Storage (PSA).
Sector peers — CapEx
Companies in the same sector as Public Storage, ranked by their latest capital expenditures.
| Company | Capital Expenditures | Sector |
|---|---|---|
| Equinix, Inc. (EQIX) | $4.31B | Real Estate |
| American Tower Corporation (AMT) | $1.68B | Real Estate |
| Simon Property Group, Inc. (SPG) | $912.35M | Real Estate |
| CBRE Group, Inc. (CBRE) | $366.00M | Real Estate |
| Realty Income Corporation (O) | $131.80M | Real Estate |
| Welltower Inc. (WELL) | $33.80M | Real Estate |
| Prologis, Inc. (PLD) | $0 | Real Estate |
| Digital Realty Trust, Inc. (DLR) | $0 | Real Estate |
Frequently asked questions
What is Public Storage's capital expenditures?
- Latest reported capital expenditures for Public Storage (PSA) is $326.78M (period ending December 31, 2025).
How has Public Storage capital expenditures changed year-over-year?
- Public Storage (PSA) capital expenditures changed -31.1% year-over-year on the latest annual filing.
What is the long-term growth rate of Public Storage capital expenditures?
- Public Storage (PSA) capital expenditures compound annual growth rate is +11.2% over the most recent 5 years available.
When did Public Storage capital expenditures hit its highest annual value?
- Public Storage capital expenditures reached its highest annual value of $461.14M in 2023.
What was Public Storage capital expenditures in 2024?
- Public Storage (PSA) capital expenditures in 2024 was $420.02M.
What was Public Storage capital expenditures in 2025?
- Public Storage (PSA) capital expenditures in 2025 was $289.38M.
Metrics overview
Pick a metric for charts, filings, and peers — each row shows the latest TTM or annual value with year-over-year change.
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