What does memphis — initial cost, building & improvements mean?

The original historical cost of constructing or acquiring the physical storage structures and initial improvements in the Memphis market. This excludes the cost of the underlying land.

Public Storage PSA Memphis — Initial Cost, Building & Improvements

Other geography segments

Los Angeles

$1.13B+2.1%

Houston

$963.58M+5.6%

Baltimore

$798.01M+1.3%

New York

$768.16M+4.3%

Orlando/Daytona

$652.93M+10.7%

Seattle/Tacoma

$634.81M0.0%

Miami

$631.69M+12.1%

San Francisco

$570.13M+2.3%

Chicago

$530.28M+2.1%

Atlanta

$482.92M+11.2%

Tampa

$450.31M+21.2%

Phoenix

$367.87M0.0%

Denver

$362.01M+10.3%

Philadelphia

$341.3M+14.7%

Oklahoma City

$328.65M+5.8%

Detroit

$289.35M0.0%

San Antonio

$250.28M+5.3%

Charlotte

$250.14M0.0%

Raleigh

$247.52M+5.8%

West Palm Beach

$246.48M+11.3%

Portland

$233.93M+3.9%

Boston

$230.43M+3.0%

Austin

$224.07M+5.6%

Columbia

$188.85M+13.9%

Indianapolis

$171.25M0.0%

San Diego

$162.04M0.0%

Honolulu

$161.34M+27.0%

Las Vegas

$148.11M0.0%

Columbus

$143.21M0.0%

Nashville/Bowling Green

$142.35M+6.1%

Mobile

$141.14M+42.0%

Norfolk

$131.95M+5.2%

Boise

$130.09M+80.9%

Fort Myers/Naples

$121.93M0.0%

Sacramento

$115.14M+24.7%

Kansas City

$114.08M0.0%

Charleston

$90.95M+31.5%

Greensville/Spartanburg/Asheville

$79.87M+8.5%

Cincinnati

$79.21M0.0%

New Orleans

$76.86M+6.1%

Omaha

$69.09M0.0%

Colorado Springs

$64.57M0.0%

Savannah

$63.26M+21.3%

Chattanooga

$58.72M+28.8%

Richmond

$56.2M0.0%

Louisville

$50.19M0.0%

Jacksonville

$47.42M0.0%

Greensboro

$43.18M0.0%

Augusta

$43.13M+21.7%

Milwaukee

$42.15M+31.4%

Salt Lake City

$41.61M0.0%

Cleveland/Akron

$38.4M+24.8%

Roanoke

$35.72M+31.5%

Lansing

$30.74M+34.3%

Providence

$30.72M+17.6%

Birmingham

$25.57M0.0%

Tucson

$25.49M0.0%

Monterey/Salinas

$24.15M0.0%

Hartford/New Haven

$19.96M0.0%

Flint

$19.23M0.0%

Reno

$18.7M0.0%

Palm Springs

$18.07M0.0%

Buffalo/Rochester

$17.95M0.0%

Evansville

$14.32M0.0%

Dayton

$14.04M+56.4%

Huntsville/Decatur

$13.48M0.0%

Fort Wayne

$11M0.0%

Rochester

$10.79M0.0%

Santa Barbara

$9.11M0.0%

Wichita

$6.69M0.0%

Springfield/Holyoke

$3.38M0.0%

Shreveport

$3.03M0.0%

Topeka

$1.42M0.0%

Syracuse

$1.28M0.0%

Joplin

$904K0.0%

Modesto/Fresno/Stockton

$206K0.0%

Similar metrics at other companies

LADRMemphis, TN — Costs Capitalized Subsequent to Acquisition

$0—

LADRMemphis, TN — Building

$2.8M0.0%

EXRTN — Building and Improvements Initial Cost

$280.26M+8.1%

LINETennessee — Initial cost to company, buildings and improvements

$5M0.0%

LINEMississippi — Initial cost to company, buildings and improvements

$23M0.0%

LADRMemphis Tennessee — Real Estate And Accumulated Depreciation Carrying Amount Of Buildings And Improvements

$2.8M0.0%

Other financials

Income statement

See full

Revenue$1.2B+2.9%

Operating income$474.3M+2.2%

Net income$526.3M+29.1%

EPS (diluted)$2.71+32.8%

Balance sheet

See full

Cash & equivalents$134.6M-53.1%

Total debt$10.3B+9.6%

Total equity$9.2B-3.6%

Total assets$19.9B+1.2%

Cash flow

See full

Operating cash flow$694.8M-1.5%

Valuation

See full

Market cap$55.25B+9.0%

P/E29×+1.1×

P/S11.4×+0.7×

Profitability

See full

Gross margin72%—

Operating margin51.6%—

Net margin39.2%-2.6pp

FCF margin64.3%—

Returns & leverage

See full

Return on equity20.3%+0.1pp

Debt / equity1.1×+0.1×

Where this comes from

Reported directly by Public Storage in its filing.

Tagged under the XBRL concept us-gaap:RealEstateAndAccumulatedDepreciationInitialCostOfBuildingsAndImprovements.

The official record: Public Storage’s 10-K, filed February 12, 2026, on SEC EDGAR. View the filing →

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Questions, answered.

What is Public Storage's memphis — initial cost, building & improvements?: Public Storage (PSA) reported memphis — initial cost, building & improvements of $167.9M in Q4 2025.
How has Public Storage's memphis — initial cost, building & improvements changed year-over-year?: Public Storage's memphis — initial cost, building & improvements decreased by 0.0% year-over-year, from $167.9M to $167.9M.
What does memphis — initial cost, building & improvements mean?: The original historical cost of constructing or acquiring the physical storage structures and initial improvements in the Memphis market. This excludes the cost of the underlying land.