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PSA 424B5: Shelf registration

Filed with the SEC on · accession 0001193125-26-437093

PSA filed a 424B5 (prospectus (offering)) with the SEC on Oct 29, 2026. Public Storage Operating Company, a subsidiary of Public Storage, is offering an unspecified amount of senior notes due 2036, fully and unconditionally guaranteed by Public Storage. The stock moved +2.3% by the first close after the filing.

Summary of the filing

Public Storage Operating Company, a subsidiary of Public Storage, is offering an unspecified amount of senior notes due 2036, fully and unconditionally guaranteed by Public Storage. The notes are unsecured and unsubordinated obligations of PSOC.

For details, click here →How to read a 424B5 →

Key details

IssuerPublic Storage Operating Company
GuarantorPublic Storage
UnderwriterBofA Securities
UnderwriterBNP PARIBAS
UnderwriterMorgan Stanley

How PSA stock reacted

Close before

$310.05

Oct 28, 2026

First close after

+2.26%

$317.06

5 trading days

+10.55%

$342.76

Since filing

+8.84%

$337.46

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Frequently asked questions

What did PSA file with the SEC on Oct 29, 2026?

PSA filed a 424B5 (Shelf registration). Public Storage Operating Company, a subsidiary of Public Storage, is offering an unspecified amount of senior notes due 2036, fully and unconditionally guaranteed by Public Storage. The notes are unsecured and unsubordinated obligations of PSOC.

What does a shelf registration mean for PSA stock?

New shares dilute existing holders and are often sold at a discount to the market price.

How do I read a 424B5?

The final terms of an offering of shares or bonds. Look at price, number of shares and the discount to the market price. Large offerings dilute existing shareholders.

Why are SEC filings important?

Public companies must tell the SEC about anything that can change their value — results, leadership changes, big deals, new shares, bankruptcy. Filings are the official source, often before the news. A 424B5 (prospectus (offering)): The final terms of an offering of shares or bonds.

How did PSA stock react to this filing?

PSA closed at $310.05 before the filing and $317.06 on Oct 29, 2026 (+2.26%). Five trading days later: $342.76 (+10.55%).

Other PSA SEC filings

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