What is Public Storage's phoenix — encumbrances?

Public Storage (PSA) reported phoenix — encumbrances of $0 in Q4 2025.

What does phoenix — encumbrances mean?

The total value of debt or liens secured by the real estate assets located in the Phoenix market. This reflects the level of financial leverage applied to specific regional properties.

Public Storage PSA Phoenix — Encumbrances

Other geography segments

Atlanta

$1.39M-4.9%

Los Angeles

$187K-24.6%

Augusta

$0—

Austin

$0—

Baltimore

$0—

Birmingham

$0—

Boise

$0—

Boston

$0—

Buffalo/Rochester

$0—

Charleston

$0—

Charlotte

$0—

Chattanooga

$0—

Chicago

$0—

Cincinnati

$0—

Cleveland/Akron

$0—

Colorado Springs

$0—

Columbia

$0—

Columbus

$0—

Dayton

$0—

Denver

$0—

Detroit

$0—

Evansville

$0—

Flint

$0—

Fort Myers/Naples

$0—

Fort Wayne

$0—

Greensboro

$0—

Greensville/Spartanburg/Asheville

$0—

Hartford/New Haven

$0—

Honolulu

$0—

Houston

$0—

Huntsville/Decatur

$0—

Indianapolis

$0—

Jacksonville

$0—

Joplin

$0—

Kansas City

$0—

Lansing

$0—

Las Vegas

$0—

Louisville

$0—

Memphis

$0—

Miami

$0—

Milwaukee

$0—

Mobile

$0—

Modesto/Fresno/Stockton

$0—

Monterey/Salinas

$0—

Nashville/Bowling Green

$0—

New Orleans

$0—

New York

$0—

Norfolk

$0—

Oklahoma City

$0—

Omaha

$0—

Orlando/Daytona

$0—

Palm Springs

$0—

Philadelphia

$0—

Portland

$0—

Providence

$0—

Raleigh

$0—

Reno

$0—

Richmond

$0—

Roanoke

$0—

Rochester

$0—

Sacramento

$0—

Salt Lake City

$0—

San Antonio

$0—

San Diego

$0—

San Francisco

$0—

Santa Barbara

$0—

Savannah

$0—

Seattle/Tacoma

$0—

Shreveport

$0—

Springfield/Holyoke

$0—

Syracuse

$0—

Tampa

$0—

Topeka

$0—

Tucson

$0—

West Palm Beach

$0—

Wichita

$0—

Similar metrics at other companies

INVHPhoenix — Encumbrances

$184.16M-1.6%

INVHPhoenix — Number of Encumbered Properties

303.50.0%

AMHPhoenix, AZ — Gross Book Value of Encumbered Assets

$0-100%

OFinancial Services — Encumbrances

$0—

INVHLas Vegas — Encumbrances

$38.41M+0.8%

INVHDenver — Encumbrances

$67.93M+3.6%

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$55.89B+14.3%

P/E29.4×+2.4×

P/S11.5×+1.2×

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 srt:RealEstateAndAccumulatedDepreciationAmountOfEncumbrances.

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

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What is Public Storage's phoenix — encumbrances?: Public Storage (PSA) reported phoenix — encumbrances of $0 in Q4 2025.
What does phoenix — encumbrances mean?: The total value of debt or liens secured by the real estate assets located in the Phoenix market. This reflects the level of financial leverage applied to specific regional properties.