Public Storage (NYSE: PSA) and Welltower (NYSE: WELL) today announced a strategic data science partnership that brings together Welltower’s industry-leading data science-driven capital allocation expertise with Public Storage’s expanded operational, pricing, and customer analytics capabilities.
Welltower’s industry-leading data science platform (the company’s collective name for machine learning, deep learning, and AI) was founded in 2016 and has since been led by a multidisciplinary team of Ph.D. Computer scientists, engineers, statisticians, mathematicians. This data science-driven capital allocation engine is designed to dynamically direct capital to the most risk-adjusted return opportunities across acquisitions, development, transfers, and financing. Welltower’s platform has traditionally focused on capital allocation, but as part of its transformation, Public Storage has developed best-in-class operational data science capabilities, including revenue management, customer behavior modeling, demand forecasting, and sales efficiency analytics. These are the core drivers of net operating income growth and margin expansion.
As part of the partnership, Public Storage will license a bespoke model from Welltower to more quickly and accurately deploy capital to make granular acquisitions and ultimately achieve stronger risk-adjusted returns. These features are built on the public storage value creation engine and support PS4.0.TM A strategy to increase the value per share. Additionally, public storage will share proven operational data science capabilities over time to further drive Welltower’s operational performance and analytics-driven decision-making across Welltower business systems.
As the largest companies in their respective fields with decades of history, each company owns an unparalleled repository of proprietary data that cannot be accessed or replicated by competitors, third-party data providers, or large-scale language model (LLM) interfaces, creating a persistent asymmetric information advantage. Welltower, the world’s largest publicly traded real estate company, leverages its data science platform to successfully scale its non-scalable business, as evidenced by over $80 billion in capital allocation activity in recent years. In an industry defined by long transaction timelines of five to nine months, Welltower used advanced mathematical models and high-performance computing to compress the process into just a few weeks. As a result, the company has significantly reduced system latency and dramatically increased its “speed to market.” The model that Public Storage plans to license from Welltower uses a variety of supervised and unsupervised learning to focus on micro-markets with the greatest profit and growth potential.
“Both Welltower and Public Storage have built differentiated data science capabilities that create a lasting competitive advantage,” said Tom Boyle, Public Storage’s incoming chief executive officer. “We look forward to integrating Welltower’s data science-driven capital allocation capabilities into our PS4.0 platform to further sharpen the way we deploy capital and accelerate value creation. Over time, our operational analytics capabilities will also help strengthen Welltower’s operating platform.”
Shank Mitra, CEO of Welltower, said: “While real estate is the world’s largest asset class, it has historically been characterized as a local ‘gut’ industry that has proven to be one of the least scalable businesses. While some seek to scale the business through a service model, we believe that the only way to truly scale this business is by leveraging the data generated by the assets.” He continued, “We are excited to announce our partnership with Public Storage, a truly iconic company. Harnessing the power of Welltower’s data science platform, Public Storage will transform the real world, not words or images. “We will bring into the world of science and mathematics quantitative models trained on decades of real, unique performance data. This will greatly accelerate capital allocation decisions and demonstrate concrete real-world applications of AI.”
About public storage
Public Storage, a member of the S&P 500, is a REIT that primarily acquires, develops, owns and operates self-storage facilities. As of December 31, 2025, we: (i) owned and/or operated 3,533 self-storage facilities (approximately 258 million net rentable square feet) in 40 states in the United States, and (ii) Shurgard Self Storage, which owned 332 self-storage facilities (approximately 18 million net rentable square feet) in seven countries in Western Europe. Limited (Euronext Brussels: SHUR) owns 35% of the ordinary shares. Rentable square footage operated under the Shurdard® brand. Our headquarters are located in Frisco, Texas.
About Well Tower
Welltower, Inc. (NYSE:WELL), an S&P 500 company, is located in the heart of the silver economy, focusing on senior housing rentals in the United States, United Kingdom, and Canada. Our portfolio of more than 2,000 senior and wellness residential communities sits at the intersection of housing and hospitality, creating vibrant communities for mature renters and seniors. We believe our real estate portfolio is unique, located in highly attractive micro-markets with great built environments. But we are a rare real estate organization that sees itself as a real estate wrapper operating company, driven by highly aligned partnerships and an unconventional culture. Through our disciplined approach to capital allocation leveraging our data science platform and the superior performance delivered by our Welltower Business System (an end-to-end operating platform), we aim to provide our existing investors, Northstar, with long-term, compounded per share growth.
For more information, please visit www.welltower.com. We regularly post important information, including corporate and investor presentations and financial information, on the “Investors” section of our website www.welltower.com. We intend to use our website as a means to disclose material non-public information and to comply with our disclosure obligations under Regulation FD. Such disclosures will be posted on our website under the heading “For Investors.” Accordingly, investors should monitor those portions of our website in addition to following our press releases, conference calls, and filings with the Securities and Exchange Commission. The information on our website is not incorporated by reference into this press release and our web address is included only as an inactive text reference.
Forward-looking statements
This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Forward-looking statements include statements regarding Welltower and Public Storage’s data science capabilities and partnership, the strategy and expected results of the partnership, including capital allocation decisions, speed of capital deployment, realization of investment returns, acceleration of shareholder value creation, and all other statements that are not statements of historical fact. Such statements are based on each company’s beliefs and assumptions made based on information currently available to each company’s management and may be identified by the use of words such as “outlook,” “guidance,” “expect,” “believe,” “anticipate,” “should,” “estimate” and similar words. These forward-looking statements involve known and unknown risks and uncertainties that may cause each company’s actual results and performance to differ materially from those expressed or implied by the forward-looking statements. Risks and uncertainties that may affect future results and performance include Welltower’s and Public Storage’s ability to effectively and securely develop the data science tools underlying the Partnership and to leverage each company’s data for the Partnership’s intended purposes; and Item 1, Part 1 of Welltower’s most recent Annual Report on Form 10-K for the year ended December 31. including, but not limited to, the risks and uncertainties described in Section 1A “Risk Factors”. Public Storage’s most recent Annual Report (Form 10-K) for the year ended December 31, 2025, filed with the Securities and Exchange Commission (the “SEC”) on February 12, 2026, and each company’s other filings with the SEC. These forward-looking statements speak only as of the date of this press release or the dates indicated in the statements. All forward-looking statements, including those contained in this press release, are qualified in their entirety by this cautionary statement. Welltower and Public Storage expressly disclaim any obligation to publicly update or otherwise revise any forward-looking statements, whether as a result of new information, new estimates or other factors, events or circumstances after the date of these forward-looking statements, except as expressly required by law. Given these risks and uncertainties, the forward-looking statements in this press release and the forward-looking statements made orally or in writing from time to time by the management of both companies should not be relied upon as predictions of future events or guarantees of future performance.
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