Public Storage (PSA) 10-Q 5 May 14 2014 Q1 Quarterly report Financial data

Document_And_Entity_Informatio

Document And Entity Information	3 Months Ended
	Mar. 31, 2014	1-May-14
Document And Entity Information [Abstract]	'	'
Document Type	'10-Q	'
Amendment Flag	'false	'
Document Period End Date	31-Mar-14	'
Document Fiscal Year Focus	'2014	'
Document Fiscal Period Focus	'Q1	'
Entity Registrant Name	'Public Storage	'
Entity Central Index Key	'0001393311	'
Current Fiscal Year End Date	'--12-31	'
Entity Filer Category	'Large Accelerated Filer	'
Entity Common Stock, Shares Outstanding	'	172,539,982

Balance_Sheets

Balance Sheets (USD $)	Mar. 31, 2014	Dec. 31, 2013
In Thousands, unless otherwise specified
ASSETS	'	'
Cash and cash equivalents	$101,112	$19,169
Real estate facilities, at cost:	'	'
Land	3,327,012	3,321,236
Buildings	9,012,703	8,965,020
Real estate facilities, gross	12,339,715	12,286,256
Accumulated depreciation	-4,192,529	-4,098,814
Real estate facilities, net	8,147,186	8,187,442
Construction in process	37,742	52,336
Total real estate facilities	8,184,928	8,239,778
Investments in unconsolidated real estate entities	858,222	856,182
Goodwill and other intangible assets, net	232,273	246,854
Loan receivable from Shurgard Europe	209,557	428,139
Other assets	96,490	86,144
Total assets	9,682,582	9,876,266
LIABILITIES AND EQUITY	'	'
Borrowings on bank credit facility	'	50,100
Term loan	372,000	700,000
Notes payable	88,150	88,953
Accrued and other liabilities	222,608	218,358
Total liabilities	682,758	1,057,411
Commitments and contingencies (Note 12)	'	'
Public Storage shareholders' equity:	'	'
Preferred Shares, $0.01 par value, 100,000,000 shares authorized, 151,900 shares issued (in series) and outstanding, (142,500 at December 2013), at liquidation preference	3,797,500	3,562,500
Common Shares, $0.10 par value, 650,000,000 shares authorized, 172,236,050 shares issued and outstanding (171,776,291 shares at December 31, 2013)	17,224	17,178
Paid-in capital	5,544,204	5,531,034
Accumulated deficit	-385,512	-318,482
Accumulated other comprehensive loss	-15	-500
Total Public Storage shareholders’ equity	8,973,401	8,791,730
Noncontrolling interests	26,423	27,125
Total equity	8,999,824	8,818,855
Total liabilities and equity	$9,682,582	$9,876,266

Balance_Sheets_Parenthetical

Balance Sheets (Parenthetical) (USD $)	Mar. 31, 2014	Dec. 31, 2013
Cumulative Preferred Shares Of Beneficial Interest	'	'
Par value	$0.01	$0.01
Shares authorized	100,000,000	100,000,000
Shares issued (in series)	151,900	142,500
Shares outstanding	151,900	142,500
Common Shares Of Beneficial Interest	'	'
Par value	$0.10	$0.10
Shares authorized	650,000,000	650,000,000
Shares issued	172,236,050	171,776,291
Shares outstanding	172,236,050	171,776,291

Statements_Of_Income

Statements Of Income (USD $)	3 Months Ended
In Thousands, except Per Share data, unless otherwise specified	Mar. 31, 2014	Mar. 31, 2013
Revenues:	'	'
Self-storage facilities	$485,587	$439,665
Ancillary operations	34,037	31,235
Total revenues	519,624	470,900
Expenses:	'	'
Self-storage cost of operations	156,068	140,993
Ancillary cost of operations	18,451	9,396
Depreciation and amortization	109,021	91,001
General and administrative	18,989	18,253
Operating expenses	302,529	259,643
Operating income	217,095	211,257
Interest and other income	2,402	5,581
Interest expense	-3,480	-3,497
Equity in earnings of unconsolidated real estate entities	14,604	11,643
Foreign currency exchange loss	-2,348	-12,737
Net income	228,273	212,247
Allocation to noncontrolling interests	-1,077	-1,024
Net income allocable to Public Storage shareholders	227,196	211,223
Allocation of net income to:	'	'
Preferred shareholders - distributions	-52,507	-48,590
Restricted share units	-637	-697
Net income allocated to common shareholders	$174,052	$161,936
Net income allocable to common shareholders per common share - basic	'	'
Basic	$1.01	$0.94
Diluted	$1.01	$0.94
Basic weighted average common shares outstanding	171,910	171,446
Diluted weighted average common shares outstanding	172,809	172,514
Cash dividends declared per common share	$1.40	$1.25

Statements_Of_Comprehensive_In

Statements Of Comprehensive Income (USD $)	3 Months Ended
In Thousands, unless otherwise specified	Mar. 31, 2014	Mar. 31, 2013
Statement Of Comprehensive Income [Abstract]	'	'
Net income	$228,273	$212,247
Other comprehensive income (loss):	'	'
Aggregate foreign currency exchange loss	-1,863	-32,621
Adjust for foreign currency exchange loss included in net income	2,348	12,737
Other comprehensive income (loss)	485	-19,884
Total comprehensive income	228,758	192,363
Allocation to noncontrolling interests	-1,077	-1,024
Comprehensive income allocable to Public Storage shareholders	$227,681	$191,339

Statement_Of_Equity

Statement Of Equity (USD $)	Cumulative Preferred Shares [Member]	Common Shares [Member]	Paid-In Capital [Member]	Accumulated Deficit [Member]	Accumulated Other Comprehensive (Loss) Income [Member]	Total Public Storage Shareholders' Equity [Member]	Noncontrolling Interests [Member]	Total
In Thousands, unless otherwise specified
Balances at Dec. 31, 2013	$3,562,500	$17,178	$5,531,034	($318,482)	($500)	$8,791,730	$27,125	$8,818,855
Issuance of preferred shares (Note 8)	235,000	'	-7,503	'	'	227,497	'	227,497
Issuance of common shares in connection with share-based compensation (Note 10)	'	46	25,363	'	'	25,409	'	25,409
Cash paid in lieu of common shares issued for restricted share unit vestings, net of share-based compensation expense (Note 10)	'	'	-4,690	'	'	-4,690	'	-4,690
Net income	'	'	'	228,273	'	228,273	'	228,273
Net income allocated to noncontrolling interests	'	'	'	-1,077	'	-1,077	1,077	'
Distributions to equity holders:	'	'	'	'	'	'	'	'
Preferred shares (Note 8)	'	'	'	-52,507	'	-52,507	'	-52,507
Noncontrolling interests	'	'	'	'	'	'	-1,779	-1,779
Common shares and restricted share units	'	'	'	-241,719	'	-241,719	'	-241,719
Other comprehensive income (Note 2)	'	'	'	'	485	485	'	485
Balances at Mar. 31, 2014	$3,797,500	$17,224	$5,544,204	($385,512)	($15)	$8,973,401	$26,423	$8,999,824

Statement_Of_Equity_Parentheti

Statement Of Equity (Parenthetical) (USD $)	3 Months Ended
	Mar. 31, 2014
Statement Of Equity [Abstract]	'
Issuance of preferred shares, shares	9,400,000
Issuance of common shares in connection with share-based compensation, shares	459,759
Common shares, per share distribution	$1.40

Statements_Of_Cash_Flows

Statements Of Cash Flows (USD $)	3 Months Ended
In Thousands, unless otherwise specified	Mar. 31, 2014	Mar. 31, 2013
Cash flows from operating activities:	'	'
Net income	$228,273	$212,247
Adjustments to reconcile net income to net cash provided by operating activities:	'	'
Depreciation and amortization	109,021	91,001
Distributions received from unconsolidated real estate entities less than equity in earnings	-1,728	-493
Foreign currency exchange loss	2,348	12,737
Other	-7,205	-6,153
Total adjustments	102,436	97,092
Net cash provided by operating activities	330,709	309,339
Cash flows from investing activities:	'	'
Capital expenditures to maintain real estate facilities	-13,136	-7,818
Construction in process	-25,517	-27,779
Acquisition of real estate facilities and intangibles (Note 3)	'	-13,540
Disposition of portion of loan receivable from Shaurgard Europe	216,217	'
Other	-4,495	7,721
Net cash provided by (used in) investing activities	173,069	-41,416
Cash flows from financing activities:	'	'
Repayments on bank credit facility	-50,100	-133,000
Repayments on term loan	-328,000	'
Repayments on notes payable	-710	-193,186
Issuance of common shares	25,409	3,863
Issuance of preferred shares	227,497	701,687
Distributions paid to Public Storage shareholders	-294,226	-263,733
Distributions paid to noncontrolling interests	-1,779	-1,692
Net cash (used in) provided by financing activities	-421,909	113,939
Net increase in cash and cash equivalents	81,869	381,862
Net effect of foreign exchange translation on cash and cash equivalents	74	-849
Cash and cash equivalents at the beginning of the period	19,169	17,239
Cash and cash equivalents at the end of the period	101,112	398,252
Foreign currency translation adjustment:	'	'
Real estate facilities, net of accumulated depreciation	-116	789
Investments in unconsolidated real estate entities	-312	18,553
Loan receivable from Shurgard Europe	2,365	12,430
Accumulated other comprehensive loss	($1,863)	($32,621)

Description_Of_The_Business

Description Of The Business	3 Months Ended
	Mar. 31, 2014
Description Of The Business [Abstract]	'
Description Of The Business	'
	1.Description of the Business
	Public Storage (referred to herein as “the Company”, “we”, “us”, or “our”), a Maryland real estate investment trust, was organized in 1980.  Our principal business activities include the acquisition, development, ownership and operation of self-storage facilities which offer storage spaces for lease, generally on a month-to-month basis, for personal and business use.
	At March 31, 2014, we have direct and indirect equity interests in 2,202 self-storage facilities (with approximately 141 million net rentable square feet) located in 38 states in the United States (“U.S.”) operating under the “Public Storage” name.  In Europe, we own one self-storage facility in London, England and we have a 49% interest in Shurgard Europe, which owns 187 self-storage facilities (with approximately 10 million net rentable square feet) located in seven Western European countries, all operating under the “Shurgard” name.  We also have direct and indirect equity interests in approximately 31 million net rentable square feet of commercial space located in 11 states in the U.S. primarily owned and operated by PS Business Parks, Inc. (“PSB”) under the “PS Business Parks” name.  At March 31, 2014, we have an approximate 42% common equity interest in PSB.
	Disclosures of the number and square footage of properties, as well as the number and coverage of tenant reinsurance policies are unaudited and outside the scope of our independent registered public accounting firm’s review of our financial statements in accordance with the standards of the Public Company Accounting Oversight Board (U.S.).

Summary_Of_Significant_Account

Summary Of Significant Accounting Policies	3 Months Ended
	Mar. 31, 2014
Summary Of Significant Accounting Policies [Abstract]	'
Summary Of Significant Accounting Policies	'
	2.Summary of Significant Accounting Policies
	Basis of Presentation
	The accompanying unaudited interim financial statements were prepared in accordance with U.S. generally accepted accounting principles (“GAAP”) as defined in the Financial Accounting Standards Board Accounting Standards Codification (the “Codification”), including guidance with respect to interim financial information and in conformity with the instructions to Form 10-Q and Article 10 of Regulation S-X.  While they do not include all of the disclosures required by GAAP for complete financial statements, we believe that we have included all adjustments (consisting of normal and recurring adjustments) necessary for a fair presentation.  Operating results for the three months ended March 31, 2014 are not necessarily indicative of the results that may be expected for the year ending December 31, 2014 due to seasonality and other factors.  These interim financial statements should be read together with the audited financial statements and related notes included in the Company’s Annual Report on Form 10-K for the year ended December 31, 2013.
	Consolidation and Equity Method of Accounting
	We consider entities to be Variable Interest Entities (“VIEs”) when they have insufficient equity to finance their activities without additional subordinated financial support provided by other parties, or where the equity holders as a group do not have a controlling financial interest.  We have no investments or other involvement in any VIEs.
	We consolidate all entities that we control (these entities, for the period in which the reference applies, are referred to collectively as the “Subsidiaries”), and we eliminate intercompany transactions and balances.  We account for our investments in entities that we have significant influence over, but do not control, using the equity method of accounting (these entities, for the periods in which the reference applies, are referred to collectively as the “Unconsolidated Real Estate Entities”).  When we obtain control of an Unconsolidated Real Estate Entity, we commence consolidating the entity and record a gain representing the differential between the book value and fair value of our preexisting equity interest.  All changes in consolidation status are reflected prospectively.
	When we are general partner, we control the partnership unless the third-party limited partners can dissolve the partnership or otherwise remove us as general partner without cause, or if the limited partners have the right to participate in substantive decisions of the partnership.
	Collectively, at March 31, 2014, the Company and the Subsidiaries own 2,188 self-storage facilities in the U.S., one self-storage facility in London, England and six commercial facilities in the U.S.  At March 31, 2014, the Unconsolidated Real Estate Entities are comprised of PSB, Shurgard Europe, as well as limited partnerships that own an aggregate of 14 self-storage facilities in the U.S. (these limited partnerships, for the periods in which the reference applies, are referred to as the “Other Investments”).
	Use of Estimates
	The financial statements and accompanying notes reflect our estimates and assumptions.  Actual results could differ from those estimates and assumptions.
	Income Taxes
	We have elected to be treated as a real estate investment trust (“REIT”), as defined in the Internal Revenue Code.  As a REIT, we do not incur federal income tax if we distribute 100% of our REIT taxable income (generally, net rents and gains from real property, dividends, and interest) each year, and if we meet certain organizational and operational rules.  We believe we will meet these REIT requirements in 2014, and that we have met them for all other periods presented herein.  Accordingly, we have recorded no federal income tax expense related to our REIT taxable income.
	Our merchandise and tenant reinsurance operations are subject to corporate income tax and such taxes are included in ancillary cost of operations.  We also incur income and other taxes in certain states, which are included in general and administrative expense.
	We recognize tax benefits of uncertain income tax positions that are subject to audit only if we believe it is more likely than not that the position would ultimately be sustained assuming the relevant taxing authorities had full knowledge of the relevant facts and circumstances of our positions.  As of March 31, 2014, we had no tax benefits that were not recognized.
	Real Estate Facilities
	Real estate facilities are recorded at cost.  We capitalize all costs incurred to develop, construct, renovate and improve properties, including interest and property taxes incurred during the construction period.  We expense internal and external transaction costs associated with acquisitions or dispositions of real estate, as well as repairs and maintenance costs, as incurred.  We depreciate buildings and improvements on a straight-line basis over estimated useful lives ranging generally between 5 to 25 years.
	We allocate the net acquisition cost of acquired operating self-storage facilities to the underlying land, buildings, identified intangible assets, and remaining noncontrolling interests based upon their respective individual estimated fair values.  Any difference between the net acquisition cost and the estimated fair value of the net tangible and intangible assets acquired is recorded as goodwill.
	Other Assets
	Other assets primarily consist of prepaid expenses, accounts receivable, land held for sale and restricted cash.
	Accrued and Other Liabilities
	Accrued and other liabilities consist primarily of trade payables, property tax accruals, tenant prepayments of rents, accrued interest payable, accrued payroll, accrued tenant reinsurance losses, casualty losses, and contingent loss accruals which are accrued when probable and estimable.  We disclose the nature of significant unaccrued losses that are reasonably possible of occurring and, if estimable, a range of exposure.
	Cash Equivalents, Marketable Securities and Other Financial Instruments
	Cash equivalents represent highly liquid financial instruments such as money market funds with daily liquidity or short-term commercial paper or treasury securities maturing within three months of acquisition.  Cash and cash equivalents which are restricted from general corporate use are included in other assets.  Commercial paper not maturing within three months of acquisition, which we intend and have the capacity to hold until maturity, are included in marketable securities and accounted for using the effective interest method.  Transfers of financial assets are recorded as sales when the asset is put presumptively beyond our and our creditors’ reach, there is no impediment to the transferee’s right to pledge or exchange the asset, we have surrendered effective control of the asset, we have no actual or effective right or requirement to repurchase the asset and, in the case of a transfer of a participating interest, there is no impediment to our right to pledge or exchange the participating interest we retain.
	Fair Value Accounting
	As used herein, the term “fair value” is the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants.  We prioritize the inputs used in measuring fair value based upon a three-tier hierarchy described in Codification Section 820-10-35.
	We believe that, during all periods presented, the carrying values approximate the fair values of our cash and cash equivalents, marketable securities, other assets, and accrued and other liabilities, based upon our evaluation of the underlying characteristics, market data, and short maturity of these financial instruments, which involved considerable judgment.  The estimated fair values are not necessarily indicative of the amounts that could be realized in current market exchanges.  The characteristics of these financial instruments, market data, and other comparative metrics utilized in determining these fair values are “Level 2” inputs as the term is defined in Codification Section 820-10-35-47.
	We use significant judgment to estimate fair values in recording our business combinations, to evaluate real estate, investments in unconsolidated real estate entities, goodwill, and other intangible assets for impairment, and to determine the fair values of notes payable and receivable.  In estimating fair values, we consider significant unobservable inputs such as market prices of land, market capitalization rates and earnings multiples for real estate facilities, projected levels of earnings, costs of construction, functional depreciation, and market interest rates for debt securities with a similar time to maturity and credit quality, which are “Level 3” inputs as the term is defined in Codification Section 820-10-35-52.
	Currency and Credit Risk
	Financial assets that are exposed to credit risk consist primarily of cash and cash equivalents, accounts receivable, loans receivable, and restricted cash.  Cash equivalents and marketable securities we invest in are either money market funds with a rating of at least AAA by Standard and Poor’s, commercial paper that is  rated A1 by Standard and Poor’s or deposits with highly rated commercial banks.
	At March 31, 2014, due primarily to our investment in and loan receivable from Shurgard Europe, our operating results and financial position are affected by fluctuations in currency exchange rates between the Euro, and to a lesser extent, other European currencies, against the U.S. Dollar.
	Goodwill and Other Intangible Assets
	Intangible assets are comprised of goodwill, the “Shurgard” trade name, acquired customers in place, and leasehold interests in land.
	Goodwill totaled $174.6 million at March 31, 2014 and December 31, 2013.  The “Shurgard” trade name, which is used by Shurgard Europe pursuant to a fee-based licensing agreement, has a book value of $18.8 million at March 31, 2014 and December 31, 2013.  Goodwill and the “Shurgard” trade name have indefinite lives and are not amortized.
	Acquired customers in place and leasehold interests in land are finite-lived and are amortized relative to the benefit of the customers in place or the land lease expense to each period.  At March 31, 2014, these intangibles have a net book value of $38.8 million ($53.4 million at December 31, 2013).  Accumulated amortization totaled $42.4 million at March 31, 2014 ($35.1 million at December 31, 2013), and amortization expense of $14.6 million and $2.6 million was recorded in the three months ended March 31, 2014 and 2013, respectively.  The estimated future amortization expense for our finite-lived intangible assets at March 31, 2014 is $22.0 million in the remainder of 2014, $8.2 million in 2015 and $8.6 million thereafter.  During the three months ended March 31, 2013, intangibles were increased $0.3 million, in connection with the acquisition of self-storage facilities and leasehold interests.
	Evaluation of Asset Impairment
	We evaluate our real estate, finite-lived intangible assets, investments in unconsolidated real estate entities, and loan receivable from Shurgard Europe for impairment on a quarterly basis.  We evaluate indefinite-lived assets (including goodwill) for impairment on an annual basis, or more often if there are indicators of impairment.
	In evaluating our real estate assets and finite-lived intangible assets for impairment, if there are indicators of impairment, and we determine that the asset is not recoverable from future undiscounted cash flows, an impairment charge is recorded for any excess of the carrying amount over the asset’s estimated fair value.  For long-lived assets that we expect to dispose of prior to the end of their estimated useful lives, we record an impairment charge for any excess of the carrying value of the asset over the expected net proceeds from disposal.
	If we determine, based upon the relevant events and circumstances and other such qualitative factors, that it is more likely than not that the “Shurgard” trade name is unimpaired, we do not record an impairment charge and no further analysis is performed.  Otherwise, we record an impairment charge for any excess of carrying amount over quantitatively assessed fair value.
	In evaluating goodwill for impairment, we first evaluate, based upon the relevant events and circumstances and other such qualitative factors, whether the fair value of the reporting unit that the goodwill pertains to is greater than its aggregate carrying amount.  If based upon this evaluation it is more likely than not that the fair value of the reporting unit is in excess of its aggregate carrying amount, no impairment charge is recorded and no further analysis is performed.  Otherwise, we estimate the goodwill’s implied fair value based upon what would be allocated to goodwill if the reporting unit were acquired at estimated fair value in a transaction accounted for as a business combination, and record an impairment charge for any excess of book value over the goodwill’s implied fair value.
	For our investments in unconsolidated real estate entities, if we determine that a decline in the estimated fair value of the investments below carrying amount is other than temporary, we record an impairment charge for any excess of carrying amount over the estimated fair value.
	For our loan receivable from Shurgard Europe, if we determine that it is probable we will be unable to collect all amounts due based on the terms of the loan agreement, we record an impairment charge for any excess of book value over the present value of expected future cash flows.
	No impairments were recorded in any of our evaluations for any period presented herein.
	Revenue and Expense Recognition
	Rental income, which is generally earned pursuant to month-to-month leases for storage space, as well as late charges and administrative fees, are recognized as earned.  Promotional discounts reduce rental income over the promotional period.  Ancillary revenues and interest and other income are recognized when earned.  Equity in earnings of unconsolidated real estate entities represents our pro-rata share of the earnings of the Unconsolidated Real Estate Entities.
	We accrue for property tax expense based upon actual amounts billed and, in some circumstances, estimates and historical trends when bills or assessments have not been received from the taxing authorities or such bills and assessments are in dispute.  If these estimates are incorrect, the timing and amount of expense recognition could be incorrect.  Cost of operations, general and administrative expense, interest expense, as well as television and other advertising expenditures are expensed as incurred.
	Foreign Currency Exchange Translation
	The local currency (primarily the Euro) is the functional currency for our interests in foreign operations.  The related balance sheet amounts are translated into U.S. Dollars at the exchange rates at the respective financial statement date, while amounts on our statements of income are translated at the average exchange rates during the respective period.  The Euro was translated at exchange rates of approximately 1.375 U.S. Dollars per Euro at March 31, 2014 (1.377 at December 31, 2013), and average exchange rates of 1.370 and 1.320 for the three months ended March 31, 2014 and 2013, respectively.  Cumulative translation adjustments, to the extent not included in cumulative net income, are included in equity as a component of accumulated other comprehensive income (loss).
	Comprehensive Income (Loss)
	Total comprehensive income (loss) represents net income, adjusted for changes in other comprehensive income (loss) for the applicable period.  The aggregate foreign currency exchange gains and losses reflected on our statements of comprehensive income are comprised primarily of foreign currency exchange gains and losses on our investment in, and loan receivable from, Shurgard Europe.
	Discontinued Operations
	In April 2014, the Financial Accounting Standards Board (“FASB”) issued an accounting standard (ASU No. 2014-08) that requires us to classify as discontinued operations the operating results for those facility disposals that represent a strategic shift and have a major impact upon operations, as compared to presenting all facility disposals as discontinued operations under the previous standard.  Prospective application is required. As the standard encourages, we are early adopting the standard on January 1, 2014.  The adoption of ASU No. 2014-08 had no impact on our financial condition or results of operations.
	Net Income per Common Share
	Net income is allocated to (i) noncontrolling interests based upon their share of the net income of the Subsidiaries, (ii) preferred shareholders, to the extent redemption cost exceeds the related original net issuance proceeds (an “EITF D-42 allocation”), and (iii) the remaining net income is allocated to each of our equity securities based upon the dividends declared or accumulated during the period, combined with participation rights in undistributed earnings.
	Basic net income per share is computed using the weighted average common shares outstanding.  Diluted net income per share is computed using the weighted average common shares outstanding, adjusted for the impact, if dilutive, of stock options outstanding (Note 10).
	The following table reflects our net income allocable to common shareholders and the weighted average common shares and equivalents outstanding, as used in our calculations of basic and diluted net income per share, basic and diluted net income from discontinued operations per share, and basic and diluted net income from continuing operations per share:
			For the Three Months Ended March 31,
			2014		2013
			(Amounts in thousands)
		Net income allocable to common shareholders	$	174,052	$	161,936
		Weighted average common shares and equivalents outstanding:
		Basic weighted average common shares outstanding		171,910		171,446
		Net effect of dilutive stock options - based
		on treasury stock method		899		1,068
	Diluted weighted average common shares outstanding		172,809		172,514

Real_Estate_Facilities

Real Estate Facilities	3 Months Ended
	Mar. 31, 2014
Real Estate Facilities [Abstract]	'
Real Estate Facilities	'
	3.Real Estate Facilities
	Activity in real estate facilities is as follows:
			Three Months Ended March 31, 2014
			(Amounts in thousands)
		Operating facilities, at cost:
		Beginning balance	$	12,286,256
		Capital expenditures to maintain real estate facilities		13,136
		Newly developed facilities opened for operation		40,111
		Impact of foreign exchange rate changes		212
		Ending balance		12,339,715
		Accumulated depreciation:
		Beginning balance		-4,098,814
		Depreciation expense		-93,619
		Impact of foreign exchange rate changes		-96
		Ending balance		-4,192,529
		Construction in process:
		Beginning balance		52,336
		Current development		25,517
		Newly developed facilities opened for operation		-40,111
		Ending balance		37,742
		Total real estate facilities at March 31, 2014	$	8,184,928
	We completed expansion and development activities during the three months ended March 31, 2014, adding 335,000 net rentable square feet of self-storage space, at an aggregate cost of $40.1 million.  Construction in process at March 31, 2014, consists of projects to develop new self-storage facilities and expand existing self-storage facilities, which would add a total of 1.9 million net rentable square feet of storage space, for an aggregate estimated cost of approximately $195 million.

Investments_In_Unconsolidated_

Investments In Unconsolidated Real Estate Entities	3 Months Ended
	Mar. 31, 2014
Investments In Unconsolidated Real Estate Entities [Abstract]	'
Investments In Unconsolidated Real Estate Entities	'
	4.Investments in Unconsolidated Real Estate Entities
	The following table sets forth our investments in, and equity earnings of, the Unconsolidated Real Estate Entities (amounts in thousands):
			Investments in Unconsolidated Real Estate Entities at
			31-Mar-14			31-Dec-13
		PSB	$	422,643		$	424,538
		Shurgard Europe		428,265			424,095
		Other Investments		7,314			7,549
		Total	$	858,222		$	856,182
			Equity in Earnings of Unconsolidated Real Estate Entites for the
			Three Months Ended March 31,
			2014			2013
		PSB	$	5,337		$	4,610
		Shurgard Europe		8,884			6,667
		Other Investments		383			366
		Total	$	14,604		$	11,643
	During the three months ended March 31, 2014 and 2013, we received cash distributions from our investments in the Unconsolidated Real Estate Entities totaling $12.9 million and $11.2 million, respectively.
	Investment in PSB
	PSB is a REIT traded on the New York Stock Exchange.  We have an approximate 42% common equity interest in PSB as of March 31, 2014 and December 31, 2013, comprised of our ownership of 7,158,354 shares of PSB’s common stock and 7,305,355 limited partnership units (“LP Units”) in an operating partnership controlled by PSB.  The LP Units are convertible at our option, subject to certain conditions, on a one-for-one basis into PSB common stock.  Based upon the closing price at March 31, 2014  ($83.62 per share of PSB common stock), the shares and units we owned had a market value of approximately $1.2 billion.
	The following table sets forth selected financial information of PSB.  The amounts represent all of PSB’s balances and not our pro-rata share.
			2014			2013
			(Amounts in thousands)
		For the three months ended March 31,
		Total revenue	$	95,487		$	88,278
		Costs of operations		-33,444			-29,384
		Depreciation and amortization		-28,441			-26,961
		General and administrative		-2,487			-2,399
		Other items		-3,314			-4,545
		Net income		27,801			24,989
		Allocations to preferred shareholders and
		restricted share unitholders		-15,158			-13,883
		Net income allocated to common shareholders and
		LP Unitholders	$	12,643		$	11,106
			March 31,			December 31,
			2014			2013
			(Amounts in thousands)
		Total assets (primarily real estate)	$	2,234,205		$	2,238,559
		Debt		250,000			250,000
		Other liabilities		71,014			73,919
		Equity:
		Preferred stock		995,000			995,000
		Common equity and units		918,191			919,640
	Investment in Shurgard Europe
	For all periods presented, we had a 49% equity investment in Shurgard Europe and our joint venture partner owns the remaining 51% interest.   In addition, Shurgard Europe pays a license fee to Public Storage for the use of the “Shurgard” trademark and Public Storage has provided a loan to Shurgard (see Note 5).
	Changes in foreign currency exchange rates increased our investment in Shurgard Europe by approximately $0.3 million during the three months ended March 31, 2014, and decreased our investment by approximately $18.6 million during the three months ended March 31, 2013.
	The following table sets forth selected consolidated financial information of Shurgard Europe based upon all of Shurgard Europe’s balances for all periods,  rather than our pro rata share.  Such amounts are based upon our historical acquired book basis.
			March 31,			December 31,
			2014			2013
			(Amounts in thousands)
	Total assets (primarily self-storage facilities)	$	1,459,228		$	1,468,155
	Total debt to third parties		135,370			154,119
	Total shareholder loan		427,668			428,139
	Other liabilities		111,306			107,550
	Equity		784,884			778,347
	Exchange rate of Euro to U.S. Dollar		1.375			1.377
		2014			2013
		(Amounts in thousands)
	For the three months ended March 31,
	Self-storage and ancillary revenues	$	63,659		$	60,524
	Self-storage and ancillary cost of operations		-25,519			-24,763
	Depreciation and amortization		-15,241			-15,392
	General and administrative		-3,834			-2,586
	Interest expense on third party debt		-1,136			-1,346
	Trademark license fee payable to Public Storage		-637			-606
Interest expense on shareholder loan		-9,670			-9,272
Lease termination charge and other (a)		202			-2,830
Net income	$	7,824		$	3,729
Average exchange rates Euro to the U.S. Dollar		1.370			1.320
(a)     Amount for the three months ended March 31, 2013 includes a $2.8 million lease termination charge associated
with Shurgard Europe's closure of a facility in France.
As reflected in the table above, Shurgard Europe’s net income has been reduced by expenses it pays to its shareholders, including a trademark license fee and interest expense on the shareholder loan.  Our equity in earnings of Shurgard Europe for the three months ended March 31, 2014 and 2013, consists of our equity ownership (49%) of Shurgard Europe’s net income adjusted for 49% of the trademark license fee and interest paid to Shurgard Europe’s shareholders.  The following table set forth the calculation of our equity in earnings in Shurgard Europe:
		2014			2013
		(Amounts in thousands)
	For the three months ended March 31,
	Calculation of equity in earnings of Shurgard Europe:
	Our 49% share of Shurgard Europe’s net income	$	3,834		$	1,827
	Adjustments:
	49% of trademark license fees		312			297
	49% of interest on shareholder loan		4,738			4,543
	Total equity in earnings of Shurgard Europe	$	8,884		$	6,667
Trademark license fees and interest paid to Public Storage in excess of our 49% equity ownership (in excess of the amounts in the above table) are included in “Interest and other income” on our Statements of Income.  These amounts totaled $0.3 million for trademark license fees and $1.5 million in interest for the three months ended March 31, 2014, as compared to $0.3 million for trademark license fees and $4.7 million in interest for the same period in 2013.  The reduction in excess interest during the three months ended March 31, 2014, as compared to the same period in 2013, is due to the sale, on January 28, 2014, of 51% of the shareholder loan to our joint venture partner reducing our ownership of the loan to 49% (see Note 5).
Other Investments
At March 31, 2014, the “Other Investments” include an average common equity ownership of approximately 26% in various limited partnerships that collectively own 14 self-storage facilities.
The following table sets forth certain condensed combined financial information (representing 100% of these entities’ balances, rather than our pro-rata share) with respect to the Other Investments:
		2014			2013
		(Amounts in thousands)
	For the three months ended March 31,
	Total revenue	$	3,516		$	3,422
	Cost of operations and other expenses		-1,312			-1,277
	Depreciation and amortization		-506			-466
	Net income	$	1,698		$	1,679
		March 31,			December 31,
		2014			2013
		(Amounts in thousands)
	Total assets (primarily self-storage facilities)	$	25,993		$	26,531
	Total accrued and other liabilities		1,625			1,412
	Total Partners’ equity		24,368			25,119

Loan_Receivable_From_Shurgard_

Loan Receivable From Shurgard Europe	3 Months Ended
	Mar. 31, 2014
Loan Receivable From Shurgard Europe [Abstract]	'
Loan Receivable From Shurgard Europe	'
	5.Loan Receivable from Shurgard Europe
	At December 31, 2013, we owned 100% of the shareholder loan due from Shurgard Europe, which had a balance of €311.0 million ($428.1million).  On January 28, 2014, our joint venture partner in Shurgard Europe acquired a  51% interest in the loan at face value for €158.6 million ($216.2 million) in cash.  As of March 31, 2014, we owned a 49% interest in the loan, which had a balance of €311.0 million ($427.7 million).
	The loan bears interest at a fixed rate of 9.0% per annum and has no required principal payments until maturity in April 2019,  but can be prepaid in part or in full at any time without penalty.
	As a result of the sale of the interest in the loan, the 51% of the loan interest that we previously recorded as interest income ceased as of January 28, 2014, while the interest received with respect to our remaining 49% ownership of the loan is recorded as equity in earnings on our income statement (see Note 4).  For the three months ended March 31, 2014 and 2013, we recorded interest income with respect to this loan of approximately $1.5 million and $4.7 million, respectively.
	Because we expected repayment of the loan in the foreseeable future for all periods presented, foreign exchange rate gains or losses due to changes in exchange rates between the Euro and the U.S. Dollar are recognized on our income statements as “foreign currency exchange gain (loss).”  We recognized a $2.3 million foreign currency exchange loss in the three months ended March 31, 2014, based upon the change in the U.S. dollar equivalent of the loan between December 31, 2013 and i) January 28, 2014, with respect to the 51% interest sold, and ii) March 31, 2014, with respect to our remaining 49% interest in the loan. In the same period in 2013, we recognized a foreign exchange rate loss totaling $12.7 million with respect to the loan.
	We believe that the interest rate on the loan approximates the market rate for loans with similar terms, conditions, subordination features, and tenor, and that the fair value of the loan approximates book value.  In our evaluation of market rates and fair value, we considered that Shurgard Europe has sufficient operating cash flow, liquidity and collateral, and we have sufficient creditor rights such that credit risk is mitigated.  Shurgard Europe has made a total of €80.9 million in principal repayments on this loan and paid all interest when due since its inception on March 31, 2008.

Credit_Facility_Term_Loan_And_

Credit Facility, Term Loan And Notes Payable	3 Months Ended
	Mar. 31, 2014
Credit Facility, Term Loan And Notes Payable [Abstract]	'
Credit Facility, Term Loan And Notes Payable	'
	6.Credit Facility, Term Loan and Notes Payable
	We have a $300 million revolving line of credit (the “Credit Facility”) that expires on March 21, 2017.  Amounts drawn on the Credit Facility bear annual interest at rates ranging from LIBOR plus 0.900% to LIBOR plus 1.500% depending upon the ratio of our Total Indebtedness to Gross Asset Value (as defined in the Credit Facility) (LIBOR plus 0.900% at March  31, 2014).  In addition, we are required to pay a quarterly facility fee ranging from 0.125% per annum to 0.300% per annum depending upon the ratio of our Total Indebtedness to our Gross Asset Value (0.125% per annum at March 31, 2014).  At March 31, 2014 and May 2, 2014, we had no outstanding borrowings under this Credit Facility ($50.1 million at December 31, 2013).  We had undrawn standby letters of credit, which reduce our borrowing capacity, totaling $15.1 million at March 31, 2014 and December 31, 2013.  The Credit Facility has various customary restrictive covenants, all of which we were in compliance with at March 31, 2014.
	On December 2, 2013, we entered into a one year $700 million unsecured term loan (the “Term Loan”) with Wells Fargo Bank, the lead arranger for our Credit Facility.  The Term Loan matures on December 2, 2014 and can be repaid in full or part at any time prior to its maturity without penalty.  The interest rate and covenants on the Term Loan are the same as for the Credit Facility.  At March 31, 2014, outstanding borrowings under this Term Loan totaled $372.0 million ($700.0 million at December 31, 2013), at an interest rate of 1.055%.  As of May 2, 2014, outstanding balances under this Term Loan totaled $322.0 million.  In connection with the Term Loan, we incurred origination costs of $1.9 million which are amortized over the one year period of the Term Loan using the effective interest method.  As of March 31, 2014, we had $0.7 million ($1.8 million as of December 31, 2013) of unamortized loan costs.
	The carrying amounts of our notes payable at March  31, 2014 and December 31, 2013, respectively, totaled $88.2 million and $89.0 million, with unamortized premium totaling $0.4 million and $0.5 million. These notes were assumed in connection with business combinations and recorded at fair value, with any premium or discount over the stated note balance amortized using the effective interest method.  At March 31, 2014, the notes have a 4.8% average effective rate, are secured by 45 real estate facilities with a net book value of approximately $222 million, have stated note rates between 2.9% and 7.1%, and mature between June 2014 and September 2028.
	At March  31, 2014, approximate principal maturities of our notes payable are as follows (amounts in thousands):
		2014 (remainder)	$	25,403
		2015		30,842
		2016		15,920
		2017		1,343
		2018		11,077
		Thereafter		3,565
			$	88,150
		Weighted average effective rate		4.8%
	Cash paid for interest totaled $3.8 million and $4.3 million for the three months ended March 31, 2014 and 2013, respectively.  Interest capitalized as real estate totaled $0.2 million and $0.6 million for the three months ended March 31, 2014 and 2013, respectively.

Noncontrolling_Interests

Noncontrolling Interests	3 Months Ended
	Mar. 31, 2014
Noncontrolling Interests [Abstract]	'
Noncontrolling Interests	'
	7.Noncontrolling Interests
	At March 31, 2014, third parties own i) interests in Subsidiaries that own an aggregate of 14 self-storage facilities, and ii) 231,978 partnership units in a Subsidiary that are convertible on a one-for-one basis (subject to certain limitations) into common shares of the Company at the option of the unitholder.  These interests are referred to collectively hereinafter as the “Noncontrolling Interests.”  At March  31, 2014, the Noncontrolling Interests cannot require us to redeem their interests, other than pursuant to a liquidation of the Subsidiary.
	During the three months ended March 31, 2014 and 2013, we allocated a total of $1.1 million and $1.0 million, respectively, in income to these interests; and we paid $1.8 million and $1.7 million, respectively, in distributions to these interests.
	During the year ended December 31, 2013, we acquired Permanent Noncontrolling Interests for $6.2 million in cash, substantially all of which was allocated to paid-in-capital.

Shareholders_Equity

Shareholders' Equity	3 Months Ended
	Mar. 31, 2014
Shareholders' Equity [Abstract]	'
Shareholders' Equity	'
	8.Shareholders’ Equity
	Preferred Shares
	At March 31, 2014 and December  31, 2013, we had the following series of Cumulative Preferred Shares (“Preferred Shares”) outstanding:
					At March 31, 2014			At December 31, 2013
		Series	Earliest Redemption Date	Dividend Rate	Shares Outstanding	Liquidation Preference		Shares Outstanding	Liquidation Preference
					(Dollar amounts in thousands)
		Series O	4/15/15	6.875%	5,800	$	145,000	5,800	$	145,000
		Series P	10/7/15	6.500%	5,000		125,000	5,000		125,000
		Series Q	4/14/16	6.500%	15,000		375,000	15,000		375,000
		Series R	7/26/16	6.350%	19,500		487,500	19,500		487,500
		Series S	1/12/17	5.900%	18,400		460,000	18,400		460,000
		Series T	3/13/17	5.750%	18,500		462,500	18,500		462,500
		Series U	6/15/17	5.625%	11,500		287,500	11,500		287,500
		Series V	9/20/17	5.375%	19,800		495,000	19,800		495,000
		Series W	1/16/18	5.200%	20,000		500,000	20,000		500,000
		Series X	3/13/18	5.200%	9,000		225,000	9,000		225,000
		Series Y	3/17/19	6.375%	9,400		235,000	-		-
		Total Preferred Shares			151,900	$	3,797,500	142,500	$	3,562,500
	The holders of our Preferred Shares have general preference rights with respect to liquidation, quarterly distributions and any accumulated unpaid distributions.  Except under certain conditions and as noted below, holders of the Preferred Shares will not be entitled to vote on most matters.  In the event of a cumulative arrearage equal to six quarterly dividends, holders of all outstanding series of preferred shares (voting as a single class without regard to series) will have the right to elect two additional members to serve on our Board of Trustees until the arrearage has been cured.  At March  31, 2014, there were no dividends in arrears.
	Except under certain conditions relating to the Company’s qualification as a REIT, the Preferred Shares are not redeemable prior to the dates indicated on the table above.  On or after the respective dates, each of the series of Preferred Shares is redeemable at our option, in whole or in part, at $25.00 per depositary share, plus accrued and unpaid dividends.  Holders of the Preferred Shares cannot require us to redeem such shares.
	Upon issuance of our Preferred Shares, we classify the liquidation value as preferred equity on our balance sheet with any issuance costs recorded as a reduction to paid-in capital.
	During the three months ended March 31, 2014, we issued an aggregate 9.4 million depositary shares, representing 1/1,000 of a share of our Series Y Preferred Shares, at an issuance price of $25.00 per depositary share, for a total of $235.0 million in gross proceeds, and we incurred an aggregate of $7.5 million in issuance costs.
	During the three months ended March 31, 2013, we issued an aggregate 29.0 million depositary shares, each representing 1/1,000 of a share of our Series W and Series X Preferred Shares, at an issuance price of $25.00 per depositary share, for a total of $725.0 million in gross proceeds, and we incurred $23.3 million in issuance costs.
	Dividends
	Common share dividends including amounts paid to our restricted share unitholders totaled $241.7 million ($1.40 per share) and $215.1 million ($1.25 per share), for the three months ended March 31, 2014 and 2013, respectively.  Preferred share dividends totaled $52.5 million and $48.6 million for the three months ended March 31, 2014 and 2013, respectively.

Related_Party_Transactions

Related Party Transactions	3 Months Ended
	Mar. 31, 2014
Related Party Transactions [Abstract]	'
Related Party Transactions	'
	9.Related Party Transactions
	The Hughes Family owns approximately 15.7% of our common shares outstanding at March 31, 2014.
	The Hughes Family has ownership interests in, and operates, approximately 54 self-storage facilities in Canada (“PS Canada”) using the “Public Storage” brand name pursuant to a non-exclusive, royalty-free trademark license agreement with the Company.  We currently do not own any interests in these facilities.  We have a right of first refusal to acquire the stock or assets of the corporation that manages the 54 self-storage facilities in Canada, if the Hughes Family or the corporation agrees to sell them.  We reinsure risks relating to loss of goods stored by customers in these facilities.  During each of the three month periods ended March 31, 2014 and 2013, we received $0.1 million in reinsurance premiums attributed to these facilities.  There is no assurance that these premiums will continue, as our rights to reinsure these risks may be qualified.

ShareBased_Compensation

Share-Based Compensation	3 Months Ended
	Mar. 31, 2014
Share-Based Compensation [Abstract]	'
Share-Based Compensation	'
	10.Share-Based Compensation
	Under various share-based compensation plans and under terms established by a committee of our Board of Trustees, the Company grants non-qualified options to purchase the Company’s common shares, as well as restricted share units (“RSUs”), to trustees, officers, service providers and key employees.
	Stock options and RSUs are considered “granted” and “outstanding” as the terms are used herein, when i) the Company and the recipient reach a mutual understanding of the key terms of the award, ii) the award has been authorized, iii) the recipient is affected by changes in the market price of our stock, and iv) it is probable that any performance and service conditions will be met.
	We amortize the grant-date fair value of awards (net of anticipated forfeitures) as compensation expense over the service period.  The service period begins on the grant date and ends on the vesting date. For awards that are earned solely upon the passage of time and continued service, the entire cost of the award is amortized on a straight-line basis over the service period. For awards with performance conditions, the individual cost of each vesting is amortized separately over each individual service period (the “accelerated attribution” method).
	Stock Options
	Stock options vest over a three to five-year period, expire ten years after the grant date, and the exercise price is equal to the closing trading price of our common shares on the grant date.  Employees cannot require the Company to settle their award in cash.  We use the Black-Scholes option valuation model to estimate the fair value of our stock options.
	Outstanding stock option grants are included on a one-for-one basis in our diluted weighted average shares, to the extent dilutive, after applying the treasury stock method (based upon the average common share price during the period) to assumed exercise proceeds and measured but unrecognized compensation.
	For each of the three month periods ended March 31, 2014 and 2013, we recorded $0.7 million in compensation expense related to stock options.
	During the three months ended March 31, 2014, 200,000 stock options were granted, 372,402 options were exercised and 2,000 options were forfeited.  A total of 1,999,809 stock options were outstanding at March 31, 2014 (2,174,211 at December 31, 2013).
	Restricted Share Units
	RSUs generally vest ratably over a three to eight-year period from the grant date.  The grantee receives dividends for each outstanding RSU equal to the per-share dividends received by our common shareholders.  We expense any dividends previously paid upon forfeiture of the related RSU.  Upon vesting, the grantee receives common shares equal to the number of vested RSUs, less common shares withheld in exchange for tax deposits made by the Company to satisfy the grantee’s statutory tax liabilities arising from the vesting.
	The fair value of our RSUs is determined based upon the applicable closing trading price of our common shares.
	During the three months ended March 31, 2014, 180,600 RSUs were granted, 22,813 RSUs were forfeited and 148,045 RSUs vested.  This vesting resulted in the issuance of 87,357 common shares.  In addition, tax deposits totaling $10.0 million were made on behalf of employees in exchange for 60,688 common shares withheld upon vesting.
	RSUs outstanding at March 31, 2014 and December 31, 2013 were 646,071 and 636,329, respectively.  A total of $5.6 million and $5.2 million in RSU expense was recorded for the three months ended March 31, 2014 and 2013, respectively, which include approximately $1.0 million and $0.8 million, respectively, in employer taxes incurred upon vesting.
	See also “net income per common share” in Note 2 for further discussion regarding the impact of RSUs and stock options on our net income per common and income allocated to common shareholders.

Segment_Information

Segment Information	3 Months Ended
	Mar. 31, 2014
Segment Information [Abstract]	'
Segment Information	'
	11.Segment Information
	Our reportable segments reflect the significant components of our operations that are evaluated separately by our chief operating decision maker (“CODM”) and have discrete financial information available.  We organize our segments based primarily upon the nature of the underlying products and services, and whether the operation is located in the U.S. or outside the U.S.  In making resource allocation decisions, our CODM considers the net income from continuing operations of each reportable segment included in the tables below, excluding the impact of depreciation and amortization, gains or losses on disposition of real estate facilities, and asset impairment charges.  The amounts for each reportable segment included in the tables below are in conformity with GAAP and our significant accounting policies as denoted in Note 2.  Ancillary revenues and expenses, interest and other income (other than from Shurgard Europe), interest expense, general and administrative expense and gains and losses on the early repayment of debt are not allocable to any of our reportable segments.  Our CODM does not consider the book value of assets in making resource allocation decisions.
	Following is the description of and basis for presentation for each of our segments.
	Domestic Self-Storage Segment
	The Domestic Self-Storage Segment includes the operations of the 2,189 self-storage facilities owned by the Company and the Subsidiaries, as well as our equity share of the Other Investments.  For all periods presented, substantially all of our real estate facilities, goodwill and other intangible assets, other assets, and accrued and other liabilities are associated with the Domestic Self-Storage Segment.
	European Self-Storage Segment
	The European Self-Storage segment comprises our interest in Shurgard Europe, which has a separate management team reporting directly to our CODM and our joint venture partner.  The European Self-Storage segment includes our equity share of Shurgard Europe’s operations, the interest and other income received from Shurgard Europe, and foreign currency exchange gains and losses that are attributable to Shurgard Europe.  Our balance sheet includes an investment in Shurgard Europe (Note 4) and a loan receivable from Shurgard Europe (Note 5).
	Commercial Segment
	The Commercial segment comprises our investment in PSB, a publicly-traded REIT with a separate management team that makes its financing, capital allocation and other significant decisions.  The Commercial segment also includes our direct interest in certain commercial facilities, substantially all of which are managed by PSB.  The Commercial segment presentation includes our equity earnings and interest income from PSB, as well as the revenues and expenses of our commercial facilities.  At March  31, 2014, the assets of the Commercial segment are comprised principally of our investment in PSB (Note 4).
	Presentation of Segment Information
	The following tables reconcile the performance of each segment, in terms of segment income, to our net income (amounts in thousands):
	Three months ended March 31, 2014
		Domestic Self-Storage		European Self-Storage		Commercial		Other Items Not Allocated to Segments		Total
		(Amounts in thousands)
	Revenues:
	Self-storage facilities	$	485,587	$	-	$	-	$	-	$	485,587
	Ancillary operations		-		-		4,005		30,032		34,037
			485,587		-		4,005		30,032		519,624
	Expenses:
	Self-storage cost of operations		156,068		-		-		-		156,068
	Ancillary cost of operations		-		-		1,315		17,136		18,451
	Depreciation and amortization		108,333		-		688		-		109,021
	General and administrative		-		-		-		18,989		18,989
			264,401		-		2,003		36,125		302,529
	Operating income (loss)		221,186		-		2,002		-6,093		217,095
	Interest and other income		-		1,862		-		540		2,402
	Interest expense		-		-		-		-3,480		-3,480
	Equity in earnings of
	unconsolidated real estate entities		383		8,884		5,337		-		14,604
	Foreign currency exchange loss		-		-2,348		-		-		-2,348
	Net income (loss)	$	221,569	$	8,398	$	7,339	$	-9,033	$	228,273
	Three months ended March 31, 2013
		Domestic Self-Storage		European Self-Storage		Commercial		Other Items Not Allocated to Segments		Total
		(Amounts in thousands)
	Revenues:
	Self-storage facilities	$	439,665	$	-	$	-	$	-	$	439,665
	Ancillary operations		-		-		3,533		27,702		31,235
			439,665		-		3,533		27,702		470,900
	Expenses:
	Self-storage cost of operations		140,993		-		-		-		140,993
	Ancillary cost of operations		-		-		1,310		8,086		9,396
	Depreciation and amortization		90,302		-		699		-		91,001
	General and administrative		-		-		-		18,253		18,253
			231,295		-		2,009		26,339		259,643
	Operating income		208,370		-		1,524		1,363		211,257
	Interest and other income		-		5,038		-		543		5,581
	Interest expense		-		-		-		-3,497		-3,497
	Equity in earnings of
	unconsolidated real estate entities		366		6,667		4,610		-		11,643
	Foreign currency exchange loss		-		-12,737		-		-		-12,737
	Net income (loss)	$	208,736	$	-1,032	$	6,134	$	-1,591	$	212,247

Commitments_And_Contingencies

Commitments And Contingencies	3 Months Ended
	Mar. 31, 2014
Commitments And Contingencies [Abstract]	'
Commitments And Contingencies	'
	12.Commitments and Contingencies
	Contingent Losses
	We are a party to various legal proceedings and subject to various claims and complaints; however, we believe that the likelihood of these contingencies resulting in a material loss to the Company, either individually or in the aggregate, is remote.
	Insurance and Loss Exposure
	We have historically carried customary property, earthquake, general liability, employee medical insurance and workers compensation coverage through internationally recognized insurance carriers, subject to customary levels of deductibles.  The aggregate limits on these policies of approximately $75 million for property losses and $102 million for general liability losses are higher than estimates of maximum probable losses that could occur from individual catastrophic events determined in recent engineering and actuarial studies; however, in case of multiple catastrophic events, these limits could be exhausted.
	We reinsure a program that provides insurance to our customers from an independent third-party insurer.  This program covers tenant claims for losses to goods stored at our facilities as a result of specific named perils (earthquakes are not covered by this program), up to a maximum limit of $5,000 per storage unit.  We reinsure all risks in this program, but purchase insurance from an independent third party insurance company for aggregate claims between $5.0 million and $15.0 million per occurrence.  We are subject to licensing requirements and regulations in several states.  At March 31, 2014, there were approximately 781,000 certificates held by our self-storage customers, representing aggregate coverage of approximately $1.8 billion.

Subsequent_Events

Subsequent Events	3 Months Ended
	Mar. 31, 2014
Subsequent Events [Abstract]	'
Subsequent Events	'
	13.Subsequent Events
	On April 4, 2014, we acquired a self-storage facility in Austin, Texas, consisting of approximately 86,000 net rentable square feet, for $6.0 million in cash and loan assumption of $4.8 million.
	On April 14, 2014, we issued an additional 2.0 million depository shares, representing 1/1,000 of a share of our Series Y Preferred Shares, at an issuance price of $25.00 per depository share, for a total of $50.0 million in gross proceeds.
	From April 1, 2014 through May 2, 2014, we repaid an additional $50.0 million on the Term Loan.
	As of May 2, 2014, we are under contract to acquire (subject to customary closing conditions) five self-storage facilities in North Carolina, with an aggregate of approximately 342,000 net rentable square feet, at a total cost of approximately $26.0 million in cash.

Summary_Of_Significant_Account1

Summary Of Significant Accounting Policies (Policy)	3 Months Ended
	Mar. 31, 2014
Summary Of Significant Accounting Policies [Abstract]	'
Basis Of Presentation	'
	Basis of Presentation
	The accompanying unaudited interim financial statements were prepared in accordance with U.S. generally accepted accounting principles (“GAAP”) as defined in the Financial Accounting Standards Board Accounting Standards Codification (the “Codification”), including guidance with respect to interim financial information and in conformity with the instructions to Form 10-Q and Article 10 of Regulation S-X.  While they do not include all of the disclosures required by GAAP for complete financial statements, we believe that we have included all adjustments (consisting of normal and recurring adjustments) necessary for a fair presentation.  Operating results for the three months ended March 31, 2014 are not necessarily indicative of the results that may be expected for the year ending December 31, 2014 due to seasonality and other factors.  These interim financial statements should be read together with the audited financial statements and related notes included in the Company’s Annual Report on Form 10-K for the year ended December 31, 2013.
Consolidation And Equity Method Of Accounting	'
	Consolidation and Equity Method of Accounting
	We consider entities to be Variable Interest Entities (“VIEs”) when they have insufficient equity to finance their activities without additional subordinated financial support provided by other parties, or where the equity holders as a group do not have a controlling financial interest.  We have no investments or other involvement in any VIEs.
	We consolidate all entities that we control (these entities, for the period in which the reference applies, are referred to collectively as the “Subsidiaries”), and we eliminate intercompany transactions and balances.  We account for our investments in entities that we have significant influence over, but do not control, using the equity method of accounting (these entities, for the periods in which the reference applies, are referred to collectively as the “Unconsolidated Real Estate Entities”).  When we obtain control of an Unconsolidated Real Estate Entity, we commence consolidating the entity and record a gain representing the differential between the book value and fair value of our preexisting equity interest.  All changes in consolidation status are reflected prospectively.
	When we are general partner, we control the partnership unless the third-party limited partners can dissolve the partnership or otherwise remove us as general partner without cause, or if the limited partners have the right to participate in substantive decisions of the partnership.
	Collectively, at March 31, 2014, the Company and the Subsidiaries own 2,188 self-storage facilities in the U.S., one self-storage facility in London, England and six commercial facilities in the U.S.  At March 31, 2014, the Unconsolidated Real Estate Entities are comprised of PSB, Shurgard Europe, as well as limited partnerships that own an aggregate of 14 self-storage facilities in the U.S. (these limited partnerships, for the periods in which the reference applies, are referred to as the “Other Investments”).
Use Of Estimates	'
	Use of Estimates
	The financial statements and accompanying notes reflect our estimates and assumptions.  Actual results could differ from those estimates and assumptions.
Income Taxes	'
	Income Taxes
	We have elected to be treated as a real estate investment trust (“REIT”), as defined in the Internal Revenue Code.  As a REIT, we do not incur federal income tax if we distribute 100% of our REIT taxable income (generally, net rents and gains from real property, dividends, and interest) each year, and if we meet certain organizational and operational rules.  We believe we will meet these REIT requirements in 2014, and that we have met them for all other periods presented herein.  Accordingly, we have recorded no federal income tax expense related to our REIT taxable income.
	Our merchandise and tenant reinsurance operations are subject to corporate income tax and such taxes are included in ancillary cost of operations.  We also incur income and other taxes in certain states, which are included in general and administrative expense.
	We recognize tax benefits of uncertain income tax positions that are subject to audit only if we believe it is more likely than not that the position would ultimately be sustained assuming the relevant taxing authorities had full knowledge of the relevant facts and circumstances of our positions.  As of March 31, 2014, we had no tax benefits that were not recognized.
Real Estate Facilities	'
	Real Estate Facilities
	Real estate facilities are recorded at cost.  We capitalize all costs incurred to develop, construct, renovate and improve properties, including interest and property taxes incurred during the construction period.  We expense internal and external transaction costs associated with acquisitions or dispositions of real estate, as well as repairs and maintenance costs, as incurred.  We depreciate buildings and improvements on a straight-line basis over estimated useful lives ranging generally between 5 to 25 years.
	We allocate the net acquisition cost of acquired operating self-storage facilities to the underlying land, buildings, identified intangible assets, and remaining noncontrolling interests based upon their respective individual estimated fair values.  Any difference between the net acquisition cost and the estimated fair value of the net tangible and intangible assets acquired is recorded as goodwill.
Other Assets	'
	Other Assets
	Other assets primarily consist of prepaid expenses, accounts receivable, land held for sale and restricted cash.
Accrued And Other Liabilities	'
	Accrued and Other Liabilities
	Accrued and other liabilities consist primarily of trade payables, property tax accruals, tenant prepayments of rents, accrued interest payable, accrued payroll, accrued tenant reinsurance losses, casualty losses, and contingent loss accruals which are accrued when probable and estimable.  We disclose the nature of significant unaccrued losses that are reasonably possible of occurring and, if estimable, a range of exposure.
Cash Equivalents, Marketable Securities And Other Financial Instruments	'
	Cash Equivalents, Marketable Securities and Other Financial Instruments
	Cash equivalents represent highly liquid financial instruments such as money market funds with daily liquidity or short-term commercial paper or treasury securities maturing within three months of acquisition.  Cash and cash equivalents which are restricted from general corporate use are included in other assets.  Commercial paper not maturing within three months of acquisition, which we intend and have the capacity to hold until maturity, are included in marketable securities and accounted for using the effective interest method.  Transfers of financial assets are recorded as sales when the asset is put presumptively beyond our and our creditors’ reach, there is no impediment to the transferee’s right to pledge or exchange the asset, we have surrendered effective control of the asset, we have no actual or effective right or requirement to repurchase the asset and, in the case of a transfer of a participating interest, there is no impediment to our right to pledge or exchange the participating interest we retain.
Fair Value Accounting	'
	Fair Value Accounting
	As used herein, the term “fair value” is the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants.  We prioritize the inputs used in measuring fair value based upon a three-tier hierarchy described in Codification Section 820-10-35.
	We believe that, during all periods presented, the carrying values approximate the fair values of our cash and cash equivalents, marketable securities, other assets, and accrued and other liabilities, based upon our evaluation of the underlying characteristics, market data, and short maturity of these financial instruments, which involved considerable judgment.  The estimated fair values are not necessarily indicative of the amounts that could be realized in current market exchanges.  The characteristics of these financial instruments, market data, and other comparative metrics utilized in determining these fair values are “Level 2” inputs as the term is defined in Codification Section 820-10-35-47.
	We use significant judgment to estimate fair values in recording our business combinations, to evaluate real estate, investments in unconsolidated real estate entities, goodwill, and other intangible assets for impairment, and to determine the fair values of notes payable and receivable.  In estimating fair values, we consider significant unobservable inputs such as market prices of land, market capitalization rates and earnings multiples for real estate facilities, projected levels of earnings, costs of construction, functional depreciation, and market interest rates for debt securities with a similar time to maturity and credit quality, which are “Level 3” inputs as the term is defined in Codification Section 820-10-35-52.
Currency And Credit Risk	'
	Currency and Credit Risk
	Financial assets that are exposed to credit risk consist primarily of cash and cash equivalents, accounts receivable, loans receivable, and restricted cash.  Cash equivalents and marketable securities we invest in are either money market funds with a rating of at least AAA by Standard and Poor’s, commercial paper that is  rated A1 by Standard and Poor’s or deposits with highly rated commercial banks.
	At March 31, 2014, due primarily to our investment in and loan receivable from Shurgard Europe, our operating results and financial position are affected by fluctuations in currency exchange rates between the Euro, and to a lesser extent, other European currencies, against the U.S. Dollar.
Goodwill And Other Intangible Assets	'
	Goodwill and Other Intangible Assets
	Intangible assets are comprised of goodwill, the “Shurgard” trade name, acquired customers in place, and leasehold interests in land.
	Goodwill totaled $174.6 million at March 31, 2014 and December 31, 2013.  The “Shurgard” trade name, which is used by Shurgard Europe pursuant to a fee-based licensing agreement, has a book value of $18.8 million at March 31, 2014 and December 31, 2013.  Goodwill and the “Shurgard” trade name have indefinite lives and are not amortized.
	Acquired customers in place and leasehold interests in land are finite-lived and are amortized relative to the benefit of the customers in place or the land lease expense to each period.  At March 31, 2014, these intangibles have a net book value of $38.8 million ($53.4 million at December 31, 2013).  Accumulated amortization totaled $42.4 million at March 31, 2014 ($35.1 million at December 31, 2013), and amortization expense of $14.6 million and $2.6 million was recorded in the three months ended March 31, 2014 and 2013, respectively.  The estimated future amortization expense for our finite-lived intangible assets at March 31, 2014 is $22.0 million in the remainder of 2014, $8.2 million in 2015 and $8.6 million thereafter.  During the three months ended March 31, 2013, intangibles were increased $0.3 million, in connection with the acquisition of self-storage facilities and leasehold interests.
Evaluation Of Asset Impairment	'
	Evaluation of Asset Impairment
	We evaluate our real estate, finite-lived intangible assets, investments in unconsolidated real estate entities, and loan receivable from Shurgard Europe for impairment on a quarterly basis.  We evaluate indefinite-lived assets (including goodwill) for impairment on an annual basis, or more often if there are indicators of impairment.
	In evaluating our real estate assets and finite-lived intangible assets for impairment, if there are indicators of impairment, and we determine that the asset is not recoverable from future undiscounted cash flows, an impairment charge is recorded for any excess of the carrying amount over the asset’s estimated fair value.  For long-lived assets that we expect to dispose of prior to the end of their estimated useful lives, we record an impairment charge for any excess of the carrying value of the asset over the expected net proceeds from disposal.
	If we determine, based upon the relevant events and circumstances and other such qualitative factors, that it is more likely than not that the “Shurgard” trade name is unimpaired, we do not record an impairment charge and no further analysis is performed.  Otherwise, we record an impairment charge for any excess of carrying amount over quantitatively assessed fair value.
	In evaluating goodwill for impairment, we first evaluate, based upon the relevant events and circumstances and other such qualitative factors, whether the fair value of the reporting unit that the goodwill pertains to is greater than its aggregate carrying amount.  If based upon this evaluation it is more likely than not that the fair value of the reporting unit is in excess of its aggregate carrying amount, no impairment charge is recorded and no further analysis is performed.  Otherwise, we estimate the goodwill’s implied fair value based upon what would be allocated to goodwill if the reporting unit were acquired at estimated fair value in a transaction accounted for as a business combination, and record an impairment charge for any excess of book value over the goodwill’s implied fair value.
	For our investments in unconsolidated real estate entities, if we determine that a decline in the estimated fair value of the investments below carrying amount is other than temporary, we record an impairment charge for any excess of carrying amount over the estimated fair value.
	For our loan receivable from Shurgard Europe, if we determine that it is probable we will be unable to collect all amounts due based on the terms of the loan agreement, we record an impairment charge for any excess of book value over the present value of expected future cash flows.
	No impairments were recorded in any of our evaluations for any period presented herein.
Revenue And Expense Recognition	'
	Revenue and Expense Recognition
	Rental income, which is generally earned pursuant to month-to-month leases for storage space, as well as late charges and administrative fees, are recognized as earned.  Promotional discounts reduce rental income over the promotional period.  Ancillary revenues and interest and other income are recognized when earned.  Equity in earnings of unconsolidated real estate entities represents our pro-rata share of the earnings of the Unconsolidated Real Estate Entities.
	We accrue for property tax expense based upon actual amounts billed and, in some circumstances, estimates and historical trends when bills or assessments have not been received from the taxing authorities or such bills and assessments are in dispute.  If these estimates are incorrect, the timing and amount of expense recognition could be incorrect.  Cost of operations, general and administrative expense, interest expense, as well as television and other advertising expenditures are expensed as incurred.
Foreign Currency Exchange Translation	'
	Foreign Currency Exchange Translation
	The local currency (primarily the Euro) is the functional currency for our interests in foreign operations.  The related balance sheet amounts are translated into U.S. Dollars at the exchange rates at the respective financial statement date, while amounts on our statements of income are translated at the average exchange rates during the respective period.  The Euro was translated at exchange rates of approximately 1.375 U.S. Dollars per Euro at March 31, 2014 (1.377 at December 31, 2013), and average exchange rates of 1.370 and 1.320 for the three months ended March 31, 2014 and 2013, respectively.  Cumulative translation adjustments, to the extent not included in cumulative net income, are included in equity as a component of accumulated other comprehensive income (loss).
Comprehensive Income (Loss)	'
	Comprehensive Income (Loss)
	Total comprehensive income (loss) represents net income, adjusted for changes in other comprehensive income (loss) for the applicable period.  The aggregate foreign currency exchange gains and losses reflected on our statements of comprehensive income are comprised primarily of foreign currency exchange gains and losses on our investment in, and loan receivable from, Shurgard Europe.
Discontinued Operations	'
	Discontinued Operations
	In April 2014, the Financial Accounting Standards Board (“FASB”) issued an accounting standard (ASU No. 2014-08) that requires us to classify as discontinued operations the operating results for those facility disposals that represent a strategic shift and have a major impact upon operations, as compared to presenting all facility disposals as discontinued operations under the previous standard.  Prospective application is required. As the standard encourages, we are early adopting the standard on January 1, 2014.  The adoption of ASU No. 2014-08 had no impact on our financial condition or results of operations.
Net Income Per Common Share	'
	Net Income per Common Share
	Net income is allocated to (i) noncontrolling interests based upon their share of the net income of the Subsidiaries, (ii) preferred shareholders, to the extent redemption cost exceeds the related original net issuance proceeds (an “EITF D-42 allocation”), and (iii) the remaining net income is allocated to each of our equity securities based upon the dividends declared or accumulated during the period, combined with participation rights in undistributed earnings.
	Basic net income per share is computed using the weighted average common shares outstanding.  Diluted net income per share is computed using the weighted average common shares outstanding, adjusted for the impact, if dilutive, of stock options outstanding (Note 10).
	The following table reflects our net income allocable to common shareholders and the weighted average common shares and equivalents outstanding, as used in our calculations of basic and diluted net income per share, basic and diluted net income from discontinued operations per share, and basic and diluted net income from continuing operations per share:
			For the Three Months Ended March 31,
			2014		2013
			(Amounts in thousands)
		Net income allocable to common shareholders	$	174,052	$	161,936
		Weighted average common shares and equivalents outstanding:
		Basic weighted average common shares outstanding		171,910		171,446
		Net effect of dilutive stock options - based
		on treasury stock method		899		1,068
		Diluted weighted average common shares outstanding		172,809		172,514

Summary_Of_Significant_Account2

Summary Of Significant Accounting Policies (Tables)	3 Months Ended
	Mar. 31, 2014
Summary Of Significant Accounting Policies [Abstract]	'
Net Income Per Common Share	'
			For the Three Months Ended March 31,
			2014		2013
			(Amounts in thousands)
		Net income allocable to common shareholders	$	174,052	$	161,936
		Weighted average common shares and equivalents outstanding:
		Basic weighted average common shares outstanding		171,910		171,446
		Net effect of dilutive stock options - based
		on treasury stock method		899		1,068
		Diluted weighted average common shares outstanding		172,809		172,514

Real_Estate_Facilities_Tables

Real Estate Facilities (Tables)	3 Months Ended
	Mar. 31, 2014
Real Estate Facilities [Abstract]	'
Schedule Of Real Estate Activities	'
			Three Months Ended March 31, 2014
			(Amounts in thousands)
		Operating facilities, at cost:
		Beginning balance	$	12,286,256
		Capital expenditures to maintain real estate facilities		13,136
		Newly developed facilities opened for operation		40,111
		Impact of foreign exchange rate changes		212
		Ending balance		12,339,715
		Accumulated depreciation:
		Beginning balance		-4,098,814
		Depreciation expense		-93,619
		Impact of foreign exchange rate changes		-96
		Ending balance		-4,192,529
		Construction in process:
		Beginning balance		52,336
		Current development		25,517
		Newly developed facilities opened for operation		-40,111
		Ending balance		37,742
		Total real estate facilities at March 31, 2014	$	8,184,928

Investments_In_Unconsolidated_1

Investments In Unconsolidated Real Estate Entities (Tables)	3 Months Ended
	Mar. 31, 2014
Schedule of Equity Method Investments [Line Items]	'
Schedule Of Investments In Real Estate Entities And Equity In Earnings Of Real Estate	'
			Investments in Unconsolidated Real Estate Entities at
			31-Mar-14			31-Dec-13
		PSB	$	422,643		$	424,538
		Shurgard Europe		428,265			424,095
		Other Investments		7,314			7,549
		Total	$	858,222		$	856,182
			Equity in Earnings of Unconsolidated Real Estate Entites for the
			Three Months Ended March 31,
			2014			2013
		PSB	$	5,337		$	4,610
		Shurgard Europe		8,884			6,667
		Other Investments		383			366
		Total	$	14,604		$	11,643
Schedule Of Equity In Earnings	'
			2014			2013
			(Amounts in thousands)
		For the three months ended March 31,
		Calculation of equity in earnings of Shurgard Europe:
		Our 49% share of Shurgard Europe’s net income	$	3,834		$	1,827
		Adjustments:
		49% of trademark license fees		312			297
		49% of interest on shareholder loan		4,738			4,543
		Total equity in earnings of Shurgard Europe	$	8,884		$	6,667
Schedule Of Condensed Financial Information Of Other Investments	'
			2014			2013
			(Amounts in thousands)
		For the three months ended March 31,
		Total revenue	$	3,516		$	3,422
		Cost of operations and other expenses		-1,312			-1,277
		Depreciation and amortization		-506			-466
		Net income	$	1,698		$	1,679
			March 31,			December 31,
			2014			2013
			(Amounts in thousands)
		Total assets (primarily self-storage facilities)	$	25,993		$	26,531
		Total accrued and other liabilities		1,625			1,412
		Total Partners’ equity		24,368			25,119
PSB [Member]	'
Schedule of Equity Method Investments [Line Items]	'
Schedule Of Selected Financial Information	'
			2014			2013
			(Amounts in thousands)
		For the three months ended March 31,
		Total revenue	$	95,487		$	88,278
		Costs of operations		-33,444			-29,384
		Depreciation and amortization		-28,441			-26,961
		General and administrative		-2,487			-2,399
		Other items		-3,314			-4,545
		Net income		27,801			24,989
		Allocations to preferred shareholders and
		restricted share unitholders		-15,158			-13,883
		Net income allocated to common shareholders and
		LP Unitholders	$	12,643		$	11,106
			March 31,			December 31,
			2014			2013
			(Amounts in thousands)
		Total assets (primarily real estate)	$	2,234,205		$	2,238,559
		Debt		250,000			250,000
		Other liabilities		71,014			73,919
		Equity:
		Preferred stock		995,000			995,000
		Common equity and units		918,191			919,640
Shurgard Europe [Member]	'
Schedule of Equity Method Investments [Line Items]	'
Schedule Of Selected Financial Information	'
			March 31,			December 31,
			2014			2013
			(Amounts in thousands)
	Total assets (primarily self-storage facilities)	$	1,459,228		$	1,468,155
	Total debt to third parties		135,370			154,119
	Total shareholder loan		427,668			428,139
	Other liabilities		111,306			107,550
	Equity		784,884			778,347
	Exchange rate of Euro to U.S. Dollar		1.375			1.377
		2014			2013
		(Amounts in thousands)
	For the three months ended March 31,
	Self-storage and ancillary revenues	$	63,659		$	60,524
	Self-storage and ancillary cost of operations		-25,519			-24,763
	Depreciation and amortization		-15,241			-15,392
	General and administrative		-3,834			-2,586
	Interest expense on third party debt		-1,136			-1,346
	Trademark license fee payable to Public Storage		-637			-606
	Interest expense on shareholder loan		-9,670			-9,272
	Lease termination charge and other (a)		202			-2,830
	Net income	$	7,824		$	3,729
	Average exchange rates Euro to the U.S. Dollar		1.370			1.320
	(a)     Amount for the three months ended March 31, 2013 includes a $2.8 million lease termination charge associated
	with Shurgard Europe's closure of a facility in France.

Credit_Facility_Term_Loan_And_1

Credit Facility, Term Loan And Notes Payable (Tables)	3 Months Ended
	Mar. 31, 2014
Credit Facility, Term Loan And Notes Payable [Abstract]	'
Maturities Of Notes Payable	'
		2014 (remainder)	$	25,403
		2015		30,842
		2016		15,920
		2017		1,343
		2018		11,077
		Thereafter		3,565
			$	88,150
		Weighted average effective rate		4.8%

Shareholders_Equity_Tables

Shareholders' Equity (Tables)	3 Months Ended
	Mar. 31, 2014
Shareholders' Equity [Abstract]	'
Preferred Shares Outstanding	'
					At March 31, 2014			At December 31, 2013
		Series	Earliest Redemption Date	Dividend Rate	Shares Outstanding	Liquidation Preference		Shares Outstanding	Liquidation Preference
					(Dollar amounts in thousands)
		Series O	4/15/15	6.875%	5,800	$	145,000	5,800	$	145,000
		Series P	10/7/15	6.500%	5,000		125,000	5,000		125,000
		Series Q	4/14/16	6.500%	15,000		375,000	15,000		375,000
		Series R	7/26/16	6.350%	19,500		487,500	19,500		487,500
		Series S	1/12/17	5.900%	18,400		460,000	18,400		460,000
		Series T	3/13/17	5.750%	18,500		462,500	18,500		462,500
		Series U	6/15/17	5.625%	11,500		287,500	11,500		287,500
		Series V	9/20/17	5.375%	19,800		495,000	19,800		495,000
		Series W	1/16/18	5.200%	20,000		500,000	20,000		500,000
		Series X	3/13/18	5.200%	9,000		225,000	9,000		225,000
		Series Y	3/17/19	6.375%	9,400		235,000	-		-
		Total Preferred Shares			151,900	$	3,797,500	142,500	$	3,562,500

Segment_Information_Tables

Segment Information (Tables)	3 Months Ended
	Mar. 31, 2014
Segment Information [Abstract]	'
Summary Of Segment Information	'
	Three months ended March 31, 2014
		Domestic Self-Storage		European Self-Storage		Commercial		Other Items Not Allocated to Segments		Total
		(Amounts in thousands)
	Revenues:
	Self-storage facilities	$	485,587	$	-	$	-	$	-	$	485,587
	Ancillary operations		-		-		4,005		30,032		34,037
			485,587		-		4,005		30,032		519,624
	Expenses:
	Self-storage cost of operations		156,068		-		-		-		156,068
	Ancillary cost of operations		-		-		1,315		17,136		18,451
	Depreciation and amortization		108,333		-		688		-		109,021
	General and administrative		-		-		-		18,989		18,989
			264,401		-		2,003		36,125		302,529
	Operating income (loss)		221,186		-		2,002		-6,093		217,095
	Interest and other income		-		1,862		-		540		2,402
	Interest expense		-		-		-		-3,480		-3,480
	Equity in earnings of
	unconsolidated real estate entities		383		8,884		5,337		-		14,604
	Foreign currency exchange loss		-		-2,348		-		-		-2,348
	Net income (loss)	$	221,569	$	8,398	$	7,339	$	-9,033	$	228,273
	Three months ended March 31, 2013
		Domestic Self-Storage		European Self-Storage		Commercial		Other Items Not Allocated to Segments		Total
		(Amounts in thousands)
	Revenues:
	Self-storage facilities	$	439,665	$	-	$	-	$	-	$	439,665
	Ancillary operations		-		-		3,533		27,702		31,235
			439,665		-		3,533		27,702		470,900
	Expenses:
	Self-storage cost of operations		140,993		-		-		-		140,993
	Ancillary cost of operations		-		-		1,310		8,086		9,396
	Depreciation and amortization		90,302		-		699		-		91,001
	General and administrative		-		-		-		18,253		18,253
			231,295		-		2,009		26,339		259,643
	Operating income		208,370		-		1,524		1,363		211,257
	Interest and other income		-		5,038		-		543		5,581
	Interest expense		-		-		-		-3,497		-3,497
	Equity in earnings of
	unconsolidated real estate entities		366		6,667		4,610		-		11,643
	Foreign currency exchange loss		-		-12,737		-		-		-12,737
	Net income (loss)	$	208,736	$	-1,032	$	6,134	$	-1,591	$	212,247

Description_Of_The_Business_De

Description Of The Business (Details)	3 Months Ended
	Mar. 31, 2014
	sqft
	item
	state
Number of facilities owned by Shurgard Europe	54
Public Storage [Member]	'
PSA self-storage facilities	2,202
Net rentable square feet	141,000,000
Number of states with facilities	38
PSB [Member]	'
Net rentable square feet	31,000,000
Number of states with facilities	11
Ownership interest, percentage	42.00%
Western Europe [Member]	'
Direct interest in self-storage facilities, number of countries	7
Shurgard Europe [Member]	'
Net rentable square feet	10,000,000
Ownership interest, percentage	49.00%
Number of facilities owned by Shurgard Europe	187
London [Member]	'
Number of facilities owned by Shurgard Europe	1

Summary_Of_Significant_Account3

Summary Of Significant Accounting Policies (Consolidation And Equity Method Of Accounting) (Narrative) (Details) (USD $)	Mar. 31, 2014
	item
Summary Of Significant Accounting Policies [Line Items]	'
Investments in VIEs	$0
Commercial facilities in U.S.	6
London [Member]	'
Summary Of Significant Accounting Policies [Line Items]	'
Owned self-storage facilities	1
U.S. [Member]	'
Summary Of Significant Accounting Policies [Line Items]	'
Owned self-storage facilities	2,188
Other Investments [Member] | U.S. [Member]	'
Summary Of Significant Accounting Policies [Line Items]	'
Owned self-storage facilities	14

Summary_Of_Significant_Account4

Summary Of Significant Accounting Policies (Income Taxes And Real Estate Facilities) (Narrative) (Details) (USD $)	3 Months Ended
	Mar. 31, 2014
Percentage of real estate investment trust taxable income distributed for exemption of federal income tax	100.00%
Income tax expense	$0
Unrecognized tax benefits	$0
Maximum [Member]	'
Estimated useful lives of buildings and improvements	'25 years
Minimum [Member]	'
Estimated useful lives of buildings and improvements	'5 years

Summary_Of_Significant_Account5

Summary Of Significant Accounting Policies (Goodwill And Intangible Assets) (Narrative) (Details) (USD $)	3 Months Ended
In Millions, unless otherwise specified	Mar. 31, 2014	Mar. 31, 2013	Dec. 31, 2013
Business Acquisition [Line Items]	'	'	'
Goodwill balance	$174.60	'	$174.60
Shurgard trade name, book value	18.8	'	18.8
Tenant intangibles net book value	38.8	'	53.4
Accumulated amortization, tenant intangibles	42.4	'	35.1
Amortization expense, tenant intangibles	14.6	2.6	'
Estimated future amortization expense, 2014	22	'	'
Estimated future amortization expense, 2015	8.2	'	'
Estimated future amortization expense, thereafter	8.6	'	'
Acquisition Of Self-Storage Facilities And Leasehold Interests [Member]	'	'	'
Business Acquisition [Line Items]	'	'	'
Increase in tenant intangibles	'	$0.30	'

Summary_Of_Significant_Account6

Summary Of Significant Accounting Policies (Evaluation Of Asset Impairment, Foreign Currency Exchange Translation, And Discontinued Operations) (Narrative) (Details) (USD $)	3 Months Ended	12 Months Ended
In Millions, unless otherwise specified	Mar. 31, 2014	Dec. 31, 2013
Trading Activity, Gains and Losses, Net [Line Items]	'	'
Impairment of goodwill	0	'
Foreign Currency Average Exchange Rate [Member]	'	'
Trading Activity, Gains and Losses, Net [Line Items]	'	'
Average exchange rates USD to Euro	1.37	1.32
Foreign Currency Actual [Member]	'	'
Trading Activity, Gains and Losses, Net [Line Items]	'	'
Exchange rate	1.375	1.377

Summary_Of_Significant_Account7

Summary Of Significant Accounting Policies (Net Income Per Common Share) (Details) (USD $)	3 Months Ended
In Thousands, unless otherwise specified	Mar. 31, 2014	Mar. 31, 2013
Summary Of Significant Accounting Policies [Abstract]	'	'
Net income allocated to common shareholders	$174,052	$161,936
Basic weighted average common shares outstanding	171,910	171,446
Net effect of dilutive stock options - based on treasury stock method	899	1,068
Diluted weighted average common shares outstanding	172,809	172,514

Real_Estate_Facilities_Narrati

Real Estate Facilities (Narrative) (Details) (USD $)	3 Months Ended
	Mar. 31, 2014
	sqft
Schedule Of Real Estate Facilities [Line Items]	'
Aggregate expansion and development costs	$40,111,000
Addtional net rentable square feet from expansion projects	1,900,000
Aggregate costs to develop new self-storage facilities and expand existing self-storage facilities	$195,000,000
Expansion Projects [Member]	'
Schedule Of Real Estate Facilities [Line Items]	'
Square footage of additional space	335,000

Real_Estate_Facilities_Schedul

Real Estate Facilities (Schedule Of Real Estate Activities) (Details) (USD $)	3 Months Ended
In Thousands, unless otherwise specified	Mar. 31, 2014	Dec. 31, 2013
Real Estate Facilities [Abstract]	'	'
Beginning balance (Operating facilities, at cost)	$12,286,256	'
Capital expenditures to maintain real estate facilities	13,136	'
Newly developed facilities opened for operation	40,111	'
Impact of foreign exchange rate changes	212	'
Ending balance (Operating facilities, at cost)	12,339,715	'
Beginning balance, (Accumulated depreciation)	-4,098,814	'
Depreciation expense	-93,619	'
Impact of foreign exchange rate changes	-96	'
Ending balance, (Accumulated depreciation)	-4,192,529	'
Beginning Balance (Construction in process	52,336	'
Current development	25,517	'
Newly developed facilities opened for operation	-40,111	'
Ending Balance (Construction in process	37,742	'
Total real estate facilities at March 31, 2014	$8,184,928	$8,239,778

Investments_In_Unconsolidated_2

Investments In Unconsolidated Real Estate Entities (Investments) (Narrative) (Details) (USD $)	3 Months Ended
	Mar. 31, 2014	Mar. 31, 2013	Mar. 31, 2014	Dec. 31, 2013
			PSB Real Estate Investment [Member]	PSB Real Estate Investment [Member]
Schedule of Equity Method Investments [Line Items]	'	'	'	'
Cash distributions from Unconsolidated Real Estate Entities	$12,900,000	$11,200,000	'	'
Ownership interest, percentage	'	'	42.00%	42.00%
Common stock owned of PSB	'	'	7,158,354	'
Limited partnership units in PSB	'	'	7,305,355	'
Closing price per share PSB stock	'	'	$83.62	'
Market value of PSB stock and LP units	'	'	$1,200,000,000	'

Investments_In_Unconsolidated_3

Investments In Unconsolidated Real Estate Entities (Investment In Shurgard Europe) (Narrative) (Details) (USD $)	Mar. 31, 2014	Dec. 31, 2013	Mar. 31, 2014	Mar. 31, 2013	Mar. 31, 2014
			Shurgard Europe [Member]	Shurgard Europe [Member]	Joint Venture Partner [Member]
					Shurgard Europe [Member]
Schedule of Equity Method Investments [Line Items]	'	'	'	'	'
Interest in Shurgard Europe	'	'	49.00%	'	51.00%
Increase (decrease) in Shurgard Europe investment from foreign currency exchange rates	'	'	$300,000	($18,600,000)	'
Loans receivable from affiliates	209,557,000	428,139,000	'	'	'
Trademark license fee	'	'	312,000	297,000	'
Interest and other income	'	'	$4,738,000	$4,543,000	'

Investments_In_Unconsolidated_4

Investments In Unconsolidated Real Estate Entities (Other Investments) (Narrative) (Details) (Other Investments [Member])	Mar. 31, 2014
	item
Other Investments [Member]	'
Schedule of Equity Method Investments [Line Items]	'
Other equity ownership	26.00%
Number of self-storage facilities owned, other	14

Investments_In_Unconsolidated_5

Investments In Unconsolidated Real Estate Entities (Schedule Of Investments In Real Estate Entities And Equity In Earnings Of Real Estate) (Details) (USD $)	3 Months Ended
In Thousands, unless otherwise specified	Mar. 31, 2014	Mar. 31, 2013	Dec. 31, 2013
Schedule of Equity Method Investments [Line Items]	'	'	'
Investments in Unconsolidated Real Estate Entities	$858,222	'	$856,182
Equity in Earnings of Unconsolidated Real Estate Entities	14,604	11,643	'
PSB Real Estate Investment [Member]	'	'	'
Schedule of Equity Method Investments [Line Items]	'	'	'
Investments in Unconsolidated Real Estate Entities	422,643	'	424,538
Equity in Earnings of Unconsolidated Real Estate Entities	5,337	4,610	'
Shurgard Europe [Member]	'	'	'
Schedule of Equity Method Investments [Line Items]	'	'	'
Investments in Unconsolidated Real Estate Entities	428,265	'	424,095
Equity in Earnings of Unconsolidated Real Estate Entities	8,884	6,667	'
Other Investments [Member]	'	'	'
Schedule of Equity Method Investments [Line Items]	'	'	'
Investments in Unconsolidated Real Estate Entities	7,314	'	7,549
Equity in Earnings of Unconsolidated Real Estate Entities	$383	$366	'

Investments_In_Unconsolidated_6

Investments In Unconsolidated Real Estate Entities (Schedule Of Selected Financial Information Of PSB) (Details) (PSB [Member], USD $)	3 Months Ended
In Thousands, unless otherwise specified	Mar. 31, 2014	Mar. 31, 2013	Dec. 31, 2013
PSB [Member]	'	'	'
Schedule of Equity Method Investments [Line Items]	'	'	'
Total revenue	$95,487	$88,278	'
Costs of operations	-33,444	-29,384	'
Depreciation and amortization	-28,441	-26,961	'
General and administrative	-2,487	-2,399	'
Other items	-3,314	-4,545	'
Net income	27,801	24,989	'
Allocations to preferred shareholders and restricted share unitholders	-15,158	-13,883	'
Net income allocated to common shareholders and LP unitholders	12,643	11,106	'
Total assets (primarily real estate)	2,234,205	'	2,238,559
Debt	250,000	'	250,000
Other liabilities	71,014	'	73,919
Preferred stock	995,000	'	995,000
Common equity and units	$918,191	'	$919,640

Investments_In_Unconsolidated_7

Investments In Unconsolidated Real Estate Entities (Schedule Of Selected Financial Information Of Shurgard Europe) (Details) (Shurgard Europe [Member], USD $)	3 Months Ended
	Mar. 31, 2014		Mar. 31, 2013		Dec. 31, 2013
Shurgard Europe [Member]	'		'		'
Schedule of Equity Method Investments [Line Items]	'		'		'
Total assets (primarily self-storage facilities)	$1,459,228,000		'		$1,468,155,000
Total debt to third parties	135,370,000		'		154,119,000
Total shareholder loan	427,668,000		'		428,139,000
Other liabilities	111,306,000		'		107,550,000
Equity	784,884,000		'		778,347,000
Exchange rate of Euro to U.S. Dollar	1.375		'		1.377
Self-storage and ancillary revenues	63,659,000		60,524,000		'
Self-storage and ancillary cost of operations	-25,519,000		-24,763,000		'
Depreciation and amortization	-15,241,000		-15,392,000		'
General and administrative	-3,834,000		-2,586,000		'
Interest expense on third party debt	-1,136,000		-1,346,000		'
Trademark license fee payable to Public Storage	-637,000		-606,000		'
Interest expense on Shareholder Loan	-9,670,000		-9,272,000		'
Lease termination charge and other	202,000	[1]	-2,830,000	[1]	'
Net income	7,824,000		3,729,000		'
Average exchange rates Euro to the U.S. Dollar	1.37		1.32		'
Lease termination charge	'		$2,800,000		'
[1]	Amount for the three months ended March 31, 2013 includes a $2.8 million lease termination charge with Shurgard Europe's closure of a facility in France.

Investments_In_Unconsolidated_8

Investments In Unconsolidated Real Estate Entities (Schedule Of Equity In Earnings) (Details) (Shurgard Europe [Member], USD $)	3 Months Ended
In Thousands, unless otherwise specified	Mar. 31, 2014	Mar. 31, 2013
Shurgard Europe [Member]	'	'
Schedule of Equity Method Investments [Line Items]	'	'
Our 49% equity share of Shurgard Europe’s net income	$3,834	$1,827
49% of trademark license fees received	312	297
49% of interest on shareholder loan	4,738	4,543
Total equity in earnings of Shurgard Europe	$8,884	$6,667
Equity share percentage in Shurgard Europe	49.00%	'

Investments_In_Unconsolidated_9

Investments In Unconsolidated Real Estate Entities (Schedule Of Condensed Financial Information Of Other Investments) (Details) (Other Investments [Member], USD $)	3 Months Ended	12 Months Ended
In Thousands, unless otherwise specified	Mar. 31, 2014	Dec. 31, 2013
Other Investments [Member]	'	'
Schedule of Equity Method Investments [Line Items]	'	'
Total revenue	$3,516	$3,422
Cost of operations and other expenses	-1,312	-1,277
Depreciation and amortization	-506	-466
Net income	1,698	1,679
Total assets (primarily self-storage facilities)	25,993	26,531
Total accrued and other liabilities	1,625	1,412
Total Partners' equity	$24,368	$25,119

Loan_Receivable_From_Shurgard_1

Loan Receivable From Shurgard Europe (Narrative) (Details)	3 Months Ended			0 Months Ended		3 Months Ended
	Mar. 31, 2014	Mar. 31, 2013	Dec. 31, 2013	Jan. 28, 2014	Jan. 28, 2014	Mar. 31, 2014	Mar. 31, 2014	Mar. 31, 2013	Dec. 31, 2013	Dec. 31, 2013
	USD ($)	USD ($)	USD ($)	Shurgard Europe [Member]	Shurgard Europe [Member]	Shurgard Europe [Member]	Shurgard Europe [Member]	Shurgard Europe [Member]	Shurgard Europe [Member]	Shurgard Europe [Member]
				Existing Loan [Member]	Existing Loan [Member]	Existing Loan [Member]	Existing Loan [Member]	Existing Loan [Member]	Existing Loan [Member]	Existing Loan [Member]
				USD ($)	EUR (€)	USD ($)	EUR (€)	USD ($)	USD ($)	EUR (€)
Loans Receivable From Real Estate Entities [Line Items]	'	'	'	'	'	'	'	'	'	'
Ownership interest in Shareholder Loan	'	'	'	'	'	49.00%	49.00%	'	100.00%	100.00%
Loans receivable from affiliates	$209,557,000	'	$428,139,000	'	'	$427,700,000	€ 311,000,000	'	$428,100,000	€ 311,000,000
Interest rate for real estate loans	'	'	'	'	'	9.00%	9.00%	'	'	'
Shurgard Europe loan acquisition date	'	'	'	'	'	28-Jan-14	28-Jan-14	'	'	'
Percentage of Shareholder Loan acquired by Shurgard Europe	'	'	'	51.00%	51.00%	'	'	'	'	'
Amount received from sale of loan	100,000	100,000	'	216,200,000	158,600,000	'	'	'	'	'
Interest income, loan receivable	'	'	'	'	'	1,500,000	'	4,700,000	'	'
Foreign currency exchange loss	-2,348,000	-12,737,000	'	'	'	'	'	'	'	'
Proceeds from repayments of loan receivable	'	'	'	'	'	'	€ 80,900,000	'	'	'

Credit_Facility_Term_Loan_And_2

Credit Facility, Term Loan And Notes Payable (Narrative) (Details) (USD $)

3 Months Ended

12 Months Ended

0 Months Ended

3 Months Ended

3 Months Ended

3 Months Ended

Mar. 31, 2014

Mar. 31, 2013

Dec. 31, 2013

2-May-14

Dec. 02, 2013

Mar. 31, 2014

2-May-14

Dec. 31, 2013

Mar. 31, 2014

Dec. 31, 2013

Mar. 31, 2014

Mar. 31, 2014

Mar. 31, 2014

Mar. 31, 2014

Mar. 31, 2014

Term Loan [Member]

Term Loan [Member]

Term Loan [Member]

Term Loan [Member]

Undrawn Standby Letter of Credit [Member]

Undrawn Standby Letter of Credit [Member]

Maximum [Member]

Minimum [Member]

4.8% Secured Notes Payable Maturing At Varying Dates Between June 2014 and September 2028 [Member]

4.8% Secured Notes Payable Maturing At Varying Dates Between June 2014 and September 2028 [Member]

4.8% Secured Notes Payable Maturing At Varying Dates Between June 2014 and September 2028 [Member]

item

Maximum [Member]

Minimum [Member]

Short-term Debt [Line Items]

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

Credit Facility borrowing capacity

$300,000,000

'

'

'

'

'

'

'

'

'

'

'

'

'

'

Expiration of Credit Facility

21-Mar-17

'

'

'

'

'

'

'

'

'

'

'

'

'

'

Interest rate spread (LIBOR)

'

'

'

'

'

'

'

'

'

'

1.50%

0.90%

'

'

'

Interest at period end spread (LIBOR)

0.90%

'

'

'

'

'

'

'

'

'

'

'

'

'

'

Quarterly facility fee

0.13%

'

'

'

'

'

'

'

'

'

0.30%

0.13%

'

'

'

Outstanding borrowings on Credit Facility

0

'

50,100,000

0

'

372,000,000

322,000,000

700,000,000

15,100,000

15,100,000

'

'

'

'

'

Term loan period

'

'

'

'

'1 year

'

'

'

'

'

'

'

'

'

'

Term loan, maturity date

'

'

'

'

2-Dec-14

'

'

'

'

'

'

'

'

'

'

Term loan issuance amount

'

'

'

'

700,000,000

'

'

'

'

'

'

'

'

'

'

Term loan

372,000,000

'

700,000,000

'

'

'

'

'

'

'

'

'

'

'

'

Term loan, interest rate

'

'

'

'

'

1.06%

'

'

'

'

'

'

'

'

'

Loan origination costs

'

'

'

'

1,900,000

'

'

'

'

'

'

'

'

'

'

Loan origination costs, amortization period

'

'

'

'

'

'1 year

'

'

'

'

'

'

'

'

'

Unamortized loan costs

'

'

'

'

'

700,000

'

1,800,000

'

'

'

'

'

'

'

Notes payable

88,150,000

'

88,953,000

'

'

'

'

'

'

'

'

'

'

'

'

Notes payable, premium cost

400,000

'

500,000

'

'

'

'

'

'

'

'

'

'

'

'

Effective note rate

4.80%

'

'

'

'

'

'

'

'

'

'

'

4.80%

'

'

Secured by real estate facilities

'

'

'

'

'

'

'

'

'

'

'

'

45

'

'

Net book value of real estate facilities securing notes payable

'

'

'

'

'

'

'

'

'

'

'

'

222,000,000

'

'

Stated note rate

'

'

'

'

'

'

'

'

'

'

'

'

'

7.10%

2.90%

Maturity date

'

'

'

'

'

'

'

'

'

'

'

'

'

1-Sep-28

1-Jun-14

Cash paid for interest expense

3,800,000

4,300,000

'

'

'

'

'

'

'

'

'

'

'

'

'

Interest capitalized as real estate

$200,000

$600,000

'

'

'

'

'

'

'

'

'

'

'

'

'

Credit_Facility_Term_Loan_And_3

Credit Facility, Term Loan And Notes Payable (Maturities Of Notes Payable) (Details) (USD $)	Mar. 31, 2014	Dec. 31, 2013
In Thousands, unless otherwise specified
Credit Facility, Term Loan And Notes Payable [Abstract]	'	'
2014 (remainder)	$25,403	'
2015	30,842	'
2016	15,920	'
2017	1,343	'
2018	11,077	'
Thereafter	3,565	'
Total notes payable	$88,150	$88,953
Weighted average effective rate	4.80%	'

Noncontrolling_Interests_Redee

Noncontrolling Interests (Redeemable And Permanent Noncontrolling Interests Narrative) (Details) (USD $)	3 Months Ended		12 Months Ended
In Millions, except Share data, unless otherwise specified	Mar. 31, 2014	Mar. 31, 2013	Dec. 31, 2013
	Noncontrolling Interests [Member]	Noncontrolling Interests [Member]	Permanent Noncontrolling Interests In Subsidiaries [Member]
	item
Noncontrolling Interest [Line Items]	'	'	'
Permanent Noncontrolling Interests in Subsidiaries, number of self-storage facilities	14	'	'
Convertible partnership units	231,978	'	'
Income allocated to other Permanent Noncontrolling Interest in Subsidiaries	$1.10	$1	'
Distributions paid	1.8	1.7	'
Acquisition cost	'	'	$6.20

Shareholders_Equity_Narrative_

Shareholders' Equity (Narrative) (Details) (USD $)	3 Months Ended
Share data in Millions, except Per Share data, unless otherwise specified	Mar. 31, 2014	Mar. 31, 2013
	item
Class of Stock [Line Items]	'	'
Number of quarterly dividends in arrearage before preferred shareholders can elect additional board members	6	'
Number of additional board members the preferred shareholders can elect in the case of an excess arrearage of quarterly dividends	2	'
Preferred stock, amount of preferred dividends in arrears	$0	'
Redeemable preferred stock redemption price per share	$25	'
Proceeds from issuance of preferred stock	227,497,000	701,687,000
Series Y Preferred Stock [Member]	'	'
Class of Stock [Line Items]	'	'
Number of stock issued in sale	9.4	'
Preferred shares per depositary share	0.10%	'
Issuance price per depository share	$25	'
Proceeds from issuance of preferred stock	235,000,000	'
Original issuance costs on preferred shares redeemed during the period	7,500,000	'
Series W And Series X Preferred Shares [Member]	'	'
Class of Stock [Line Items]	'	'
Number of stock issued in sale	'	29
Preferred shares per depositary share	'	0.10%
Issuance price per depository share	'	$25
Proceeds from issuance of preferred stock	'	725,000,000
Original issuance costs on preferred shares redeemed during the period	'	$23,300,000

Shareholders_Equity_Dividends_

Shareholders’ Equity (Dividends) (Narrative) (Details) (USD $)	3 Months Ended
	Mar. 31, 2014	Mar. 31, 2013
Shareholders' Equity [Abstract]	'	'
Common stock dividends paid in aggregate	$241,700,000	$215,100,000
Common stock dividends paid per share	$1.40	$1.25
Preferred shareholders based on distributions paid	$52,507,000	$48,590,000

Shareholders_Equity_Preferred_

Shareholders’ Equity (Preferred Shares Outstanding) (Details) (USD $)	3 Months Ended	12 Months Ended
In Thousands, except Share data, unless otherwise specified	Mar. 31, 2014	Dec. 31, 2013
Class of Stock [Line Items]	'	'
Shares Outstanding	151,900	142,500
Liquidation Preference	$3,797,500	$3,562,500
Series O Preferred Stock [Member]	'	'
Class of Stock [Line Items]	'	'
Earliest Redemption Date	15-Apr-15	'
Dividend Rate %	6.88%	'
Shares Outstanding	5,800	5,800
Liquidation Preference	145,000	145,000
Series P Preferred Stock [Member]	'	'
Class of Stock [Line Items]	'	'
Earliest Redemption Date	7-Oct-15	'
Dividend Rate %	6.50%	'
Shares Outstanding	5,000	5,000
Liquidation Preference	125,000	125,000
Series Q Preferred Stock [Member]	'	'
Class of Stock [Line Items]	'	'
Earliest Redemption Date	14-Apr-16	'
Dividend Rate %	6.50%	'
Shares Outstanding	15,000	15,000
Liquidation Preference	375,000	375,000
Series R Preferred Stock [Member]	'	'
Class of Stock [Line Items]	'	'
Earliest Redemption Date	26-Jul-16	'
Dividend Rate %	6.35%	'
Shares Outstanding	19,500	19,500
Liquidation Preference	487,500	487,500
Series S Preferred Stock [Member]	'	'
Class of Stock [Line Items]	'	'
Earliest Redemption Date	12-Jan-17	'
Dividend Rate %	5.90%	'
Shares Outstanding	18,400	18,400
Liquidation Preference	460,000	460,000
Series T Preferred Stock [Member]	'	'
Class of Stock [Line Items]	'	'
Earliest Redemption Date	13-Mar-17	'
Dividend Rate %	5.75%	'
Shares Outstanding	18,500	18,500
Liquidation Preference	462,500	462,500
Series U Preferred Stock [Member]	'	'
Class of Stock [Line Items]	'	'
Earliest Redemption Date	15-Jun-17	'
Dividend Rate %	5.63%	'
Shares Outstanding	11,500	11,500
Liquidation Preference	287,500	287,500
Series V Preferred Stock [Member]	'	'
Class of Stock [Line Items]	'	'
Earliest Redemption Date	20-Sep-17	'
Dividend Rate %	5.38%	'
Shares Outstanding	19,800	19,800
Liquidation Preference	495,000	495,000
Series W Preferred Stock [Member]	'	'
Class of Stock [Line Items]	'	'
Earliest Redemption Date	16-Jan-18	'
Dividend Rate %	5.20%	'
Shares Outstanding	20,000	20,000
Liquidation Preference	500,000	500,000
Series X Preferred Stock [Member]	'	'
Class of Stock [Line Items]	'	'
Earliest Redemption Date	13-Mar-18	'
Dividend Rate %	5.20%	'
Shares Outstanding	9,000	9,000
Liquidation Preference	225,000	225,000
Series Y Preferred Stock [Member]	'	'
Class of Stock [Line Items]	'	'
Earliest Redemption Date	17-Mar-19	'
Dividend Rate %	6.38%	'
Shares Outstanding	9,400	'
Liquidation Preference	$235,000	'

Related_Party_Transactions_Det

Related Party Transactions (Details) (USD $)	3 Months Ended
In Millions, unless otherwise specified	Mar. 31, 2014	Mar. 31, 2013
	item
Related Party Transactions [Abstract]	'	'
Hughes Family percentage ownership of common shares outstanding	15.70%	'
Number of self-storage facilities Hughes Family owns and operates in Canada	54	'
Tenants reinsurance premiums earned by Public Storage from the Canadian facilities Hughes Family has an interest in	$0.10	$0.10

ShareBased_Compensation_Stock_

Share-Based Compensation (Stock Options) (Narrative) (Details) (Stock Options [Member], USD $)	3 Months Ended
In Millions, except Share data, unless otherwise specified	Mar. 31, 2014	Mar. 31, 2013	Dec. 31, 2013
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]	'	'	'
Expiration period, number of years	'10 years	'	'
Compensation expense	$0.70	$0.70	'
Stock options granted	200,000	'	'
Stock options exercised	372,402	'	'
Stock options forfeited	2,000	'	'
Stock options outstanding	1,999,809	'	2,174,211
Maximum [Member]	'	'	'
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]	'	'	'
Vesting period, number of years	'5 years	'	'
Minimum [Member]	'	'	'
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]	'	'	'
Vesting period, number of years	'3 years	'	'

ShareBased_Compensation_Restri

Share-Based Compensation (Restricted Share Units) (Narrative) (Details) (Restricted Share Units [Member], USD $)	3 Months Ended		12 Months Ended
In Millions, except Share data, unless otherwise specified	Mar. 31, 2014	Mar. 31, 2013	Dec. 31, 2013
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]	'	'	'
Restricted share units granted	180,600	'	'
Restricted share units forfeited	22,813	'	'
Restricted share units vested	148,045	'	'
Common shares issued upon vesting	87,357	'	'
Tax deposits made in exchange for RSUs	$10	'	'
Common shares withheld upon vesting in exchange for tax deposits	60,688	'	'
Restricted share units outstanding	646,071	'	636,329
Restricted share unit expense	5.6	5.2	'
Taxes incurred upon vesting of restricted share units	$1	'	$0.80
Maximum [Member]	'	'	'
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]	'	'	'
Vesting period, number of years	'8 years	'	'
Minimum [Member]	'	'	'
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]	'	'	'
Vesting period, number of years	'3 years	'	'

Segment_Information_Narrative_

Segment Information (Narrative) (Details) (Domestic Self-Storage [Member])	Mar. 31, 2014
	item
Domestic Self-Storage [Member]	'
Segment Reporting Information [Line Items]	'
Number of self-storage facilities owned by the Company	2,189

Segment_Information_Summary_Of

Segment Information (Summary Of Segment Information) (Details) (USD $)	3 Months Ended
In Thousands, unless otherwise specified	Mar. 31, 2014	Mar. 31, 2013
Segment Reporting Information [Line Items]	'	'
Self-storage facilities	$485,587	$439,665
Ancillary operations	34,037	31,235
Total revenues	519,624	470,900
Self-storage cost of operations	156,068	140,993
Ancillary cost of operations	18,451	9,396
Depreciation and amortization	109,021	91,001
General and administrative	18,989	18,253
Operating expenses	302,529	259,643
Operating income (loss)	217,095	211,257
Interest and other income	2,402	5,581
Interest expense	-3,480	-3,497
Equity in earnings of unconsolidated real estate entities	14,604	11,643
Foreign currency exchange loss	-2,348	-12,737
Net income (loss)	228,273	212,247
Domestic Self-Storage [Member]	'	'
Segment Reporting Information [Line Items]	'	'
Self-storage facilities	485,587	439,665
Total revenues	485,587	439,665
Self-storage cost of operations	156,068	140,993
Depreciation and amortization	108,333	90,302
Operating expenses	264,401	231,295
Operating income (loss)	221,186	208,370
Equity in earnings of unconsolidated real estate entities	383	366
Net income (loss)	221,569	208,736
Europe Self-Storage [Member]	'	'
Segment Reporting Information [Line Items]	'	'
Interest and other income	1,862	5,038
Equity in earnings of unconsolidated real estate entities	8,884	6,667
Foreign currency exchange loss	-2,348	-12,737
Net income (loss)	8,398	-1,032
Commercial [Member]	'	'
Segment Reporting Information [Line Items]	'	'
Ancillary operations	4,005	3,533
Total revenues	4,005	3,533
Ancillary cost of operations	1,315	1,310
Depreciation and amortization	688	699
Operating expenses	2,003	2,009
Operating income (loss)	2,002	1,524
Equity in earnings of unconsolidated real estate entities	5,337	4,610
Net income (loss)	7,339	6,134
Other Items Not Allocated To Segments [Member]	'	'
Segment Reporting Information [Line Items]	'	'
Ancillary operations	30,032	27,702
Total revenues	30,032	27,702
Ancillary cost of operations	17,136	8,086
General and administrative	18,989	18,253
Operating expenses	36,125	26,339
Operating income (loss)	-6,093	1,363
Interest and other income	540	543
Interest expense	-3,480	-3,497
Net income (loss)	($9,033)	($1,591)

Commitments_And_Contingencies_

Commitments And Contingencies (Details) (USD $)	Mar. 31, 2014
	item
Commitments And Contingencies [Abstract]	'
Aggregate limit for property coverage	$75,000,000
Aggregate limit for general liability coverage	102,000,000
Tenant insurance program against claims, maximum amount	5,000
Third-party insurance coverage for claims paid exceeding amount for individual event	5,000,000
Third-party limit for insurance coverage claims paid for individual event	15,000,000
Tenant certificate holders participating in insurance program, approximate	781,000
Aggregate coverage of tenants participating in insurance program	$1,800,000,000

Subsequent_Events_Details

Subsequent Events (Details) (USD $)	3 Months Ended		0 Months Ended		3 Months Ended	0 Months Ended	1 Months Ended
Share data in Millions, except Per Share data, unless otherwise specified	Mar. 31, 2014	Mar. 31, 2013	Apr. 04, 2014	2-May-14	Mar. 31, 2014	Apr. 14, 2014	2-May-14
			Austin, Texas [Member]	North Carolina [Member]	Series Y Preferred Stock [Member]	Series Y Preferred Stock [Member]	Term Loan [Member]
			Subsequent Event [Member]	Subsequent Event [Member]		Subsequent Event [Member]	Subsequent Event [Member]
			sqft	sqft
				item
Subsequent Event [Line Items]	'	'	'	'	'	'	'
Number of self-storage facilities to be acquired	'	'	'	5	'	'	'
Net rentable square feet	'	'	86,000	342,000	'	'	'
Acquisition price of properties	'	'	$6,000,000	$26,000,000	'	'	'
Mortgage debt assumed	'	'	4,800,000	'	'	'	'
Number of stock issued in sale	'	'	'	'	9.4	2	'
Preferred shares per depositary share	'	'	'	'	0.10%	0.10%	'
Issuance price per depository share	'	'	'	'	$25	$25	'
Proceeds from issuance of preferred stock	227,497,000	701,687,000	'	'	235,000,000	50,000,000	'
Repayment on borrowings	'	'	'	'	'	'	$50,000,000