• Public Storage average return on tangible equity for 2023 was 30.55, a 6.29% decline from 2022.
• Public Storage average return on tangible equity for 2022 was 32.6, a 97.1% decline from 2021.
• Public Storage average return on tangible equity for 2021 was 16.54, a 21.26% increase from 2020.

Return on tangible equity can be defined as the amount of net income returned as a percentage of shareholders equity, after subtracting intangible assets, goodwill and preferred equity.