PSA
NYSE · USDPublic Storage
Real Estate · REIT - Industrial
CEO H. Thomas Boyle
Employees 5,770
R&D / revenue 0.0%
Last price
$298.31+1.01%last session
Market cap
$55.7B
P/E (TTM)
28.4x
From 52w high
−11.1%
From 52w low
+16.3%
1-year return
−1.7%
RSI 14 · vs SMA200
58.2 · −0.7%
IS score
72.5/ 100
Factor model across 8 sub-scores, ranked against 3,010 US stocks. Describes the business, not the outlook.
Download full factsheet (PDF)
One year, rebased to 100
PSA SPY XLRE (sector ETF) · weekly closesScore DNA
Each bar is a 0-100 score within the scored universe88Profitability
52Growth
45Value
80Momentum
90Risk (safety)
81Quality
49Balance sheet
85Earnings quality
Flags
Strengths
✓ FCF yield 5%+✓ Congress buying
Warnings
▲ Share count rising
Observations
Moat model: Weak, Efficient ScalePiotroski 6 / 9Altman Z 3.6Beta 0.943 of 4 smart-money sources active
Smart-money strip
Each disclosure source on its own window. Filings coinciding is not coordination.INSForm 4 · 180 days
Insider open-market buys
0
2 open-market sales, $771,703
No Form 144 notices in 12 months
CONGSTOCK Act · 180 days
Congressional purchases
1
Last disclosed purchase 2026-03-27
Members disclose in ranges, 30-45 days after the trade
13F13F · quarter to 2026-06-30
Net change in institutional holders
+39
134 new holders, 84 closed
1,127 filers hold 89.0% · 445 added, 370 trimmed
ETFETF holdings · 30 days
Net funds accumulating
+237
1,037 funds adding shares
800 funds trimming · counts of funds, not dollars
DARKFINRA · daily
Short-sale share of off-exchange volume
72.7%
20-day avg 65.9%, 50-day avg 65.7%
Latest 6.8 pp over its 20-day average · a flow, not short interest
Key financials · FY2025
USD, fiscal year. Stock-based compensation is non-cash; shown against FCF.Income statement
Revenue$4.8B
Revenue growth YoY+2.7%
Gross margin25.0%
Operating income$2.3B
Operating margin46.7%
Net income$1.8B
Net margin37.0%
EPS (diluted)$9.01
Cash flow
Operating cash flow$3.2B
Capital expenditure$289.4M
Free cash flow$2.9B
FCF conversion (FCF / OCF)90.9%
Stock-based compensation$39.9M
FCF less SBC$2.9B
Buybacks$0
Dividends$2.3B
Balance sheet & returns
Cash & short-term investments$318.1M
Total debt$10.3B
Net debt$9.9B
Shareholders' equity$9.3B
Goodwill & intangibles$251.6M
Debt / equity1.11
ROE (TTM)22.1%
ROIC (TTM)11.7%
Operating margin by fiscal year
Revenue $3.4B (FY2021) to $4.8B (FY2025), a 9.0% CAGR.
Valuation
P/E (TTM)28.4x
EV / EBITDA19.4x
Price / sales11.40x
Price / FCF17.5x
FCF yield5.71%
Buyback yield0.00%
SBC / revenue0.9%
Price / book5.70x
Forward P/E FY202629.5x
Forward P/E FY202730.1x
Forward P/E FY202828.9x
Forward multiples divide today's price by Street EPS estimates. Street mean target $326.67 across 9 analysts last quarter is theirs, not ours.
PSA vs industry median
52 companies in REIT - Industrial
PSA (TTM)Industry median
Asset turnover 0.24 vs industry 0.10 · financial leverage 2.19
Earnings delivery
Next report 2026-10-26 · consensus EPS $2.5075%
beat rate, 9 of 12 quarters
+1.2%
median EPS surprise
6
longest beat streak
EPS surprise in % vs the consensus at the time, oldest (left) to newest, 2023-10-30 to 2026-07-29. Bars cap at ±60%.
Peers
Market-cap band, not the industry cohort above| Company | Mkt cap | P/E | ROE | Net margin | Rev growth | 12m return |
|---|---|---|---|---|---|---|
| PSA Public Storage | $55.7B | 28.4x | 22.1% | 41.8% | +2.7% | −1.7% |
| EXR Extra Space Storage Inc. | $29.5B | 30.8x | 7.1% | 30.1% | +1.5% | −7.0% |
| PLD Prologis, Inc. | $119.5B | 27.7x | 7.9% | 43.8% | +7.3% | +4.6% |
| EGP EastGroup Properties, Inc. | $10.6B | 34.4x | 8.7% | 39.1% | +11.3% | +15.3% |
| CUBE CubeSmart | $8.8B | 26.7x | 12.4% | 31.3% | +3.9% | −6.9% |
| REXR Rexford Industrial Realty, I | $8.4B | n/m | -4.8% | — | −0.2% | — |
| FR First Industrial Realty Trus | $7.8B | 21.4x | 13.4% | 39.5% | +8.4% | — |
| LINE Lineage, Inc. | $7.6B | n/m | -2.0% | -2.1% | +1.0% | — |
12-month window: SPY +15.9%, sector ETF XLRE +0.9%. Past returns describe history only.
Recent 8-K filings
No 8-K filings on file.
Context
Shares outstanding186,852,000
Free float84.9%
Institutional ownership89.0%
Beta0.94
Dividend yield4.02%
Last dividend$3.00 on 2026-09-15
50 / 200-day average$302.70 / $300.80
Large-cap Real Estate median P/E26.2x
Full factsheet
The PDF carries everything on this page plus the cash-allocation waterfall, Form 144 notices, 13F holder detail, dark-pool and short-flow history, seasonality and the moat assessment (Weak).
Read it in the browser Download (PDF)All fundamentals · 140 measures in 13 categories
Percentile = where PSA sits among 15 scored companies in REIT - Industrial (0 = lowest value, 100 = highest). It is a position, not a grade.ValuationProfitability (TTM)Returns on capitalGrowthMargin history & stabilityLiquidity (latest quarter)Leverage & solvency (latest quarter)EfficiencyCash flow & earnings qualityDividends & buybacksScores & forensic checksPer shareSize (TTM)
Valuation
| Measure | PSA | Industry percentile |
|---|---|---|
| P/E (TTM) | 27.3x | 40th |
| PEG (P/E ÷ 3-yr EPS CAGR) | — | |
| Price / sales | 11.4x | 71st |
| Price / book | 6.1x | 100th |
| Price / tangible book | 6.3x | 100th |
| Price / free cash flow | 17.5x | 46th |
| Price / operating cash flow | 17.6x | 71st |
| Enterprise value | $65.7B | 93rd |
| EV / sales | 13.4x | 57th |
| EV / EBITDA | 19.4x | 85th |
| EV / EBIT | 29.6x | 67th |
| EV / free cash flow | 20.6x | 8th |
| Earnings yield | 3.7% | 71st |
| FCF yield | 5.7% | 57th |
| Operating cash flow yield | 5.7% | 29th |
| Graham number (per share) | $116.48 | 100th |
Profitability (TTM)
| Measure | PSA | Industry percentile |
|---|---|---|
| Gross margin | 60.4% | 79th |
| EBITDA margin | 69.1% | 31st |
| Operating margin | 48.3% | 93rd |
| EBIT margin | 45.3% | 57th |
| Net margin | 41.8% | 71st |
| NOPAT margin | 48.5% | 93rd |
| FCF margin | 65.1% | 86th |
| Operating cash flow margin | 64.9% | 79th |
| R&D / revenue | 0.0% | 0th |
| SG&A / revenue | 3.2% | 7th |
| Stock comp / revenue | 0.9% | 14th |
| Effective tax rate | -0.4% | 0th |
Returns on capital
| Measure | PSA | Industry percentile |
|---|---|---|
| ROE (on average equity) | 22.0% | 100th |
| ROA | 10.1% | 100th |
| ROIC | 12.4% | 100th |
| ROCE | 11.4% | 100th |
| Return on tangible assets | 10.9% | 100th |
| Cash ROIC (OCF / invested capital) | 16.6% | 100th |
| Gross profitability (GP / assets) | 14.7% | 100th |
| ROIC, 3-yr average | 12.1% | 100th |
| ROIC, 5-yr average | 16.1% | 100th |
| ROE, 5-yr average | 25.7% | 100th |
| Incremental ROIC | -125.0% | 14th |
Growth
| Measure | PSA | Industry percentile |
|---|---|---|
| Revenue growth (TTM YoY) | 3.0% | 50th |
| Revenue growth (QoQ) | 1.2% | 50th |
| Revenue CAGR, 3 yr | 3.7% | 42nd |
| Revenue CAGR, 5 yr | 9.6% | 25th |
| Gross profit CAGR, 3 yr | -3.5% | 70th |
| Operating income CAGR, 3 yr | 1.0% | 67th |
| Net income growth (TTM YoY) | 12.9% | 56th |
| Net income CAGR, 3 yr | -21.8% | 0th |
| EPS growth (TTM YoY) | 12.5% | 56th |
| EPS CAGR, 3 yr | -21.9% | 0th |
| EPS CAGR, 5 yr | 6.0% | 44th |
| FCF growth (TTM YoY) | 13.0% | 62nd |
| FCF CAGR, 3 yr | 4.4% | 22nd |
| Operating cash flow CAGR, 3 yr | -0.7% | 8th |
| Book value CAGR, 3 yr | -3.0% | 33rd |
| Dividend CAGR, 3 yr | 7.7% | 75th |
| Sustainable growth rate | -9.0% | 0th |
Margin history & stability
| Measure | PSA | Industry percentile |
|---|---|---|
| Gross margin, 3-yr average | 69.1% | 67th |
| Operating margin, 3-yr average | 48.0% | 75th |
| Net margin, 3-yr average | 41.6% | 75th |
| FCF margin, 3-yr average | 61.3% | 92nd |
| Revenue stability (0-1) | 0.87 | 42nd |
| Earnings stability (0-1) | 0.00 | 0th |
| Margin stability (0-1) | 0.92 | 92nd |
Liquidity (latest quarter)
| Measure | PSA | Industry percentile |
|---|---|---|
| Cash & short-term investments | $259.9M | 86th |
| Net cash (− = net debt) | −$9.9B | 14th |
| Working capital | −$216.8M | 50th |
| Current ratio | 0.67 | 43rd |
| Quick ratio | 0.67 | 43rd |
| Cash ratio (cash + ST investments / current liabilities) | 0.40 | 57th |
| Defensive interval (days) | 268 days | 14th |
Leverage & solvency (latest quarter)
| Measure | PSA | Industry percentile |
|---|---|---|
| Total debt | $10.2B | 86th |
| Debt / equity | 1.11 | 79th |
| Net debt / equity | 1.08 | 79th |
| Debt / assets | 50.6% | 79th |
| Debt / capital | 52.6% | 79th |
| Debt / EBITDA | 3.01 | 23rd |
| Net debt / EBITDA | 2.93 | 23rd |
| Interest coverage (EBIT / interest) | 6.8x | 86th |
| Cash interest coverage | 9.7x | 93rd |
| Debt payback (years of OCF) | 3.2 yrs | 7th |
| Liabilities / assets | 53.8% | 79th |
| IS credit model rating | A+ | |
| Implied credit spread (bps) | 125 | 14th |
Efficiency
| Measure | PSA | Industry percentile |
|---|---|---|
| Asset turnover | 0.24 | 86th |
| Fixed asset turnover | 0.26 | 42nd |
| Inventory turnover | — | |
| Receivables turnover | 56.4 | 92nd |
| Days sales outstanding | 6 days | 21st |
| Days inventory outstanding | — | |
| Days payables outstanding | 0 days | 0th |
| Cash conversion cycle (days) | 6 days | 64th |
| Capex / revenue | — | |
| Capex / depreciation | — | |
| Operating expense ratio | 34.2% | 64th |
Cash flow & earnings quality
| Measure | PSA | Industry percentile |
|---|---|---|
| Operating cash flow / net income | 1.55 | 40th |
| FCF / net income | 1.56 | 50th |
| FCF / operating cash flow | — | |
| Capex / operating cash flow | — | |
| Accruals ratio | -5.5% | 21st |
| Sloan accruals ratio | -9.2% | 21st |
| Earnings quality score (0-1) | 0.75 | 10th |
Scores & forensic checks
| Measure | PSA | Industry percentile |
|---|---|---|
| IS score | 72 | 93rd |
| IS profitability | 88 | 100th |
| IS growth | 52 | 50th |
| IS value | 45 | 14th |
| IS momentum | 80 | 71st |
| IS risk (safety) | 90 | 86th |
| IS quality | 81 | 86th |
| IS balance sheet | 49 | 79th |
| IS earnings quality | 85 | 71st |
| IS cash flow | 83 | 93rd |
| Piotroski F-score (0-9) | 6 | 64th |
| Altman Z-score | 3.6 | 93rd |
| Beneish M-score | −3.23 | 21st |
| Ohlson O-score | −8.41 | 29th |
| IS credit score | 79 | 86th |
Size (TTM)
| Measure | PSA | Industry percentile |
|---|---|---|
| Market cap | $55.7B | 93rd |
| Revenue | $4.9B | 86th |
| EBITDA | $3.4B | 93rd |
| Net income | $2.0B | 93rd |
| Free cash flow | $3.2B | 93rd |
| Total assets | $20.1B | 86th |
| Shareholders' equity | $9.2B | 86th |
| Employees | 5,770 | 77th |
Insider transactions, last 6 months
Form 4 · most recent 12| Date | Insider | Type | Shares | Price | Value | Owned after |
|---|---|---|---|---|---|---|
| 2026-10-06 | Havner Ronald L Jr Director |
Award / grant | 4 | $285.85 | $1,272 | 6,735 |
| 2026-10-06 | Spogli Ronald P Director |
Award / grant | 6 | $285.85 | $1,795 | 12,840 |
| 2026-10-02 | Havner Ronald L Jr Director |
Award / grant | 107 | — | — | 182,501 |
| 2026-09-30 | Spogli Ronald P Director |
Award / grant | 151 | — | — | 6,206 |
| 2026-09-30 | Mitra Shankh Director |
Award / grant | 339 | $282.84 | $95,883 | 9,668 |
| 2026-09-30 | Williams Paul S Director |
Award / grant | 52 | $282.84 | $14,708 | 1,530 |
| 2026-09-30 | Petherbridge Luke J Director |
Award / grant | 151 | — | — | 613 |
| 2026-09-01 | Sheek Samuel Wade Chief Legal Officer |
Award / grant | 6,213 | — | — | 6,213 |
| 2026-08-13 | Vitan Nathaniel A. Chief Legal Officer |
Open-market sale | 1,414 | $327.53 | $463,133 | 0 |
| 2026-07-29 | Havner Ronald L Jr Director |
Option exercise | 103,275 | $219.07 | $22.6M | 0 |
| 2026-07-29 | Havner Ronald L Jr Director |
Option exercise | 34,600 | — | — | 182,394 |
| 2026-07-28 | Johnson Natalia CD&TO |
Option exercise | 10,327 | $225.38 | $2.3M | 0 |
Shares acquired vs disposed, by month
acquired disposed · all Form 4 typesBy transaction type, 6 months
| Type | Direction | Filings | Shares | Value |
|---|---|---|---|---|
| Award / grant | Acquired | 26 | 43,302 | $11.2M |
| Open-market sale | Disposed | 2 | 2,364 | $771,703 |
| Option exercise | Disposed | 4 | 123,928 | $27.5M |
| Option exercise | Acquired | 4 | 39,879 | — |
| — | Disposed | 1 | 0 | — |
Awards, option exercises and tax withholding are compensation mechanics; open-market buys and sales are the discretionary ones.
Form 144 notices
| Filed | Filer | Shares proposed | Est. proceeds |
|---|---|---|---|
| None on file. | |||
A Form 144 is notice of a proposed sale, not a confirmed one.
Congress trades
12 months: House 9 trades (1 purchases) · Senate 1 (1 purchases)| Traded | Member | Chamber | Type | Amount | Disclosed |
|---|---|---|---|---|---|
| 2026-09-04 | Ro Khanna | House | Sale | $1,001 - $15,000 | 2026-10-09 |
| 2026-03-27 | Alan Armstrong | Senate | Purchase | $1,001 - $15,000 | 2026-07-21 |
| 2026-01-29 | Ro Khanna | House | Sale | $1,001 - $15,000 | 2026-02-10 |
| 2026-01-13 | Ro Khanna | House | Purchase | $1,001 - $15,000 | 2026-02-10 |
| 2026-01-12 | Virginia Foxx | House | Sale | $1,001 - $15,000 | 2026-02-09 |
| 2020-08-14 | Ron Wyden | Senate | Purchase | $15,001 - $50,000 | 2020-08-29 |
| 2020-08-14 | Ron Wyden | Senate | Purchase | $15,001 - $50,000 | 2020-08-28 |
| 2020-08-14 | Ronald Lee Wyden | Senate | Purchase | $15,001 - $50,000 | 2020-08-28 |
STOCK Act disclosures, in ranges, filed up to 45 days after the trade.
Largest 13F holders
Quarter to 2026-06-30, the latest most managers have filed| Manager | Shares | Value | % of shares out |
|---|---|---|---|
| BlackRock, Inc. | 17,263,289 | $5.5B | 9.24% |
| VANGUARD PORTFOLIO MANAGEMENT LLC | 13,608,702 | $4.3B | 7.28% |
| VANGUARD CAPITAL MANAGEMENT LLC | 10,322,146 | $3.3B | 5.52% |
| STATE STREET CORP | 10,133,791 | $3.2B | 5.42% |
| Capital International Investors | 9,498,439 | $3.0B | 5.08% |
| PRICE T ROWE ASSOCIATES INC /MD/ | 5,716,404 | $1.8B | 3.06% |
| COHEN & STEERS, INC. | 5,238,349 | $1.7B | 2.80% |
| NORGES BANK | 4,341,196 | $1.4B | 2.32% |
| GEODE CAPITAL MANAGEMENT, LLC | 4,263,663 | $1.4B | 2.28% |
| JPMORGAN CHASE & CO | 3,113,856 | $1.0B | 1.67% |
| FMR LLC | 3,082,787 | $981.3M | 1.65% |
| Invesco Ltd. | 2,532,848 | $806.2M | 1.36% |
| DIMENSIONAL FUND ADVISORS LP | 2,281,126 | $726.1M | 1.22% |
| APG Asset Management US Inc. | 2,103,577 | $679.5M | 1.13% |
| Legal & General Group Plc | 1,890,140 | $601.7M | 1.01% |
Institutional ownership by quarter
% of shares held by 13F filers
Number of 13F filers holding
Holder changes by quarter
| Quarter | Holders | Ownership | New | Increased | Reduced | Closed |
|---|---|---|---|---|---|---|
| 2026-06-30 | 1,127 | 89.0% | 134 | 445 | 370 | 84 |
| 2026-03-31 | 1,088 | 82.4% | 105 | 423 | 382 | 103 |
| 2025-12-31 | 1,106 | 81.2% | 137 | 345 | 469 | 120 |
| 2025-09-30 | 1,119 | 77.8% | 104 | 449 | 398 | 115 |
| 2025-06-30 | 1,146 | 80.4% | 113 | 480 | 376 | 95 |
| 2025-03-31 | 1,145 | 80.4% | 119 | 476 | 370 | 88 |
| 2024-12-31 | 1,130 | 80.7% | 148 | 409 | 403 | 124 |
| 2024-09-30 | 1,130 | 80.8% | 150 | 420 | 394 | 71 |
| 2024-06-30 | 1,064 | 78.6% | 91 | 447 | 367 | 83 |
| 2024-03-31 | 1,069 | 80.2% | 105 | 462 | 330 | 80 |
| 2023-12-31 | 1,058 | 78.8% | 169 | 391 | 364 | 70 |
| 2023-09-30 | 974 | 80.6% | 96 | 369 | 334 | 93 |
Schedule 13D / 13G filers
| Filed | Form | Filer | % of class | Shares |
|---|---|---|---|---|
| None on file. | ||||
Required above 5% of a class; 13G is the passive form.
ETFs with the largest holding
| ETF | Weight in fund | Holding value |
|---|---|---|
| VGSNX | 2.69% | $1.8B |
| VNQ | 2.69% | $1.8B |
| VGSLX | 2.69% | $1.8B |
| VITSX | 0.06% | $1.5B |
| VTSAX | 0.06% | $1.5B |
| VTI | 0.06% | $1.5B |
Share structure
Shares outstanding186,852,000
Float158,594,665
Free float84.9%
Income statement
Fiscal years, USD| FY2021 | FY2022 | FY2023 | FY2024 | FY2025 | |
|---|---|---|---|---|---|
| Revenue | $3.4B | $4.2B | $4.5B | $4.7B | $4.8B |
| Cost of revenue | $920.6M | $1.1B | $1.1B | $1.3B | $3.6B |
| Gross profit | $2.5B | $3.1B | $3.4B | $3.4B | $1.2B |
| R&D | $8.4M | $17.5M | $0 | $0 | $0 |
| SG&A | $76.0M | $71.7M | $80.6M | $106.7M | $106.7M |
| Operating income | $1.7B | $2.2B | $2.3B | $2.2B | $2.3B |
| EBITDA | $2.8B | $5.4B | $3.3B | $3.5B | $3.2B |
| Pretax income | $2.0B | $4.4B | $2.2B | $2.1B | $1.8B |
| Income tax | $12.4M | $14.3M | $10.8M | $4.7M | −$7.2M |
| Net income | $2.0B | $4.3B | $2.1B | $2.1B | $1.8B |
| EPS, diluted | $9.87 | $23.50 | $11.06 | $10.64 | $9.01 |
| Diluted shares | 175.6M | 176.3M | 176.1M | 176.0M | 175.9M |
Balance sheet
| FY2021 | FY2022 | FY2023 | FY2024 | FY2025 | |
|---|---|---|---|---|---|
| Cash & short-term investments | $734.6M | $775.3M | $370.0M | $447.4M | $318.1M |
| Receivables | $0 | $0 | $0 | $0 | $142.1M |
| Inventory | $0 | $0 | $0 | $0 | $0 |
| Total current assets | $734.6M | $775.3M | $370.0M | $447.4M | $460.2M |
| PP&E, net | $272.5M | $373.0M | $345.5M | $308.1M | $194.4M |
| Goodwill & intangibles | $302.9M | $232.5M | $387.3M | $282.2M | $251.6M |
| Total assets | $17.4B | $17.6B | $19.8B | $19.8B | $20.2B |
| Accounts payable | $0 | $0 | $0 | $0 | $0 |
| Total current liabilities | $482.1M | $514.7M | $599.0M | $588.2M | $612.9M |
| Long-term debt | $7.5B | $6.9B | $9.1B | $9.4B | $10.3B |
| Total liabilities | $8.0B | $7.4B | $9.7B | $9.9B | $10.9B |
| Shareholders' equity | $9.4B | $10.2B | $10.1B | $9.8B | $9.3B |
Cash flow statement
Outflows are negative| FY2021 | FY2022 | FY2023 | FY2024 | FY2025 | |
|---|---|---|---|---|---|
| Net income | $2.0B | $4.4B | $2.2B | $2.1B | $1.8B |
| Depreciation & amortization | $713.4M | $888.1M | $970.1M | $1.1B | $1.2B |
| Stock-based compensation | $59.8M | $56.7M | $41.6M | $44.7M | $39.9M |
| Change in working capital | $12.9M | −$9.1M | $18.9M | −$29.8M | $1.8M |
| Operating cash flow | $2.5B | $3.1B | $3.2B | $3.1B | $3.2B |
| Capital expenditure | −$270.2M | −$459.8M | −$461.1M | −$420.0M | −$289.4M |
| Free cash flow | $2.3B | $2.7B | $2.8B | $2.7B | $2.9B |
| Investing cash flow | −$5.6B | $1.1B | −$3.5B | −$1.0B | −$1.7B |
| Net debt issued / repaid | $5.0B | −$513.5M | $2.2B | $342.5M | $704.9M |
| Buybacks | $0 | $0 | $0 | −$200.0M | $0 |
| Dividends paid | −$1.6B | −$3.9B | −$2.3B | −$2.3B | −$2.3B |
Ratio history
Margins on the fiscal-year (TTM at Q4) basis; multiples at each year end| FY2021 | FY2022 | FY2023 | FY2024 | FY2025 | |
|---|---|---|---|---|---|
| Gross margin | 73.0% | 74.8% | 74.6% | 73.2% | 60.5% |
| Operating margin | 49.2% | 50.8% | 51.8% | 46.9% | 52.6% |
| Net margin | 57.2% | 104.0% | 47.6% | 44.1% | 37.0% |
| FCF margin | 66.6% | 63.5% | 61.7% | 57.7% | 64.0% |
| ROE | 21.8% | 44.8% | 21.4% | 21.0% | 18.8% |
| ROIC | 10.5% | 13.2% | 12.4% | 11.8% | 13.3% |
| ROA | 13.4% | 24.9% | 11.5% | 10.5% | 8.9% |
| Debt / equity | 0.80 | 0.68 | 0.91 | 0.96 | 1.11 |
| Interest coverage | 22.6x | 33.0x | 11.8x | 8.3x | 6.9x |
| Current ratio | 1.52 | 1.51 | 0.62 | 0.76 | 0.75 |
| Revenue growth | +16.8% | +22.4% | +8.0% | +3.9% | +2.7% |
| EPS growth | +42.8% | +122.6% | −50.5% | −3.7% | −13.8% |
| P/E at year end | 28.0x | 10.0x | 23.0x | 24.4x | 25.6x |
| EV / EBITDA at year end | 22.2x | 9.2x | 17.4x | 17.0x | 17.1x |
| FCF yield at year end | 4.16% | 6.09% | 5.63% | 5.36% | 6.76% |
| Dividend payout | 81.3% | 89.9% | 107.3% | 111.1% | 161.4% |
Revenue by segment
| FY2021 | FY2022 | FY2023 | FY2024 | FY2025 | |
|---|---|---|---|---|---|
| Self Storage Operations | $3.2B | $3.9B | $4.3B | $4.4B | $4.5B |
| Ancillary Operations | $212.3M | $236.1M | $258.1M | $299.6M | $334.7M |
Street estimates by fiscal year
Next report 2026-10-26 · consensus EPS $2.50 · these are analysts' numbers, not ours| Fiscal year | Revenue (mean) | Revenue range | EPS (mean) | EPS range | Analysts | P/E on mean EPS |
|---|---|---|---|---|---|---|
| 2026 | $5.2B | $5.2B – $5.2B | $10.12 | $10.07 – $10.18 | 6 | 29.5x |
| 2027 | $5.7B | $5.5B – $5.9B | $9.90 | $9.77 – $10.01 | 7 | 30.1x |
| 2028 | $5.9B | $5.3B – $6.8B | $10.30 | $8.76 – $11.61 | 6 | 28.9x |
Reported vs expected, every quarter on file
| Reported | EPS expected | EPS actual | EPS surprise | Revenue expected | Revenue actual | Revenue surprise |
|---|---|---|---|---|---|---|
| 2026-07-29 | $2.53 | $2.55 | +0.8% | $1.2B | $1.2B | −0.1% |
| 2026-04-27 | $2.42 | $2.72 | +12.4% | $1.2B | $1.2B | +0.2% |
| 2026-02-12 | $2.49 | $2.60 | +4.4% | $1.2B | $1.2B | +0.2% |
| 2025-10-29 | $4.24 | $4.31 | +1.7% | $1.2B | $1.2B | +1.0% |
| 2025-07-30 | $4.23 | $4.28 | +1.2% | $1.2B | $1.2B | −1.5% |
| 2025-04-30 | $4.06 | $4.12 | +1.5% | $1.2B | $1.2B | +0.6% |
| 2025-02-24 | $4.23 | $4.21 | −0.5% | $1.2B | $1.2B | −0.2% |
| 2024-10-30 | $4.25 | $4.20 | −1.2% | $1.2B | $1.2B | +0.5% |
| 2024-07-30 | $4.20 | $4.23 | +0.7% | $1.2B | $1.2B | −0.6% |
| 2024-04-30 | $4.07 | $4.03 | −1.0% | $1.1B | $1.2B | +0.9% |
| 2024-02-20 | $4.15 | $4.20 | +1.2% | $1.2B | $1.2B | −2.2% |
| 2023-10-30 | $2.81 | $3.20 | +13.9% | $1.1B | $1.1B | +0.6% |
| 2023-08-02 | $2.91 | $3.00 | +3.1% | $1.1B | $1.1B | −0.3% |
| 2023-05-03 | $4.07 | $4.08 | +0.2% | $1.1B | $1.1B | +0.5% |
| 2023-02-21 | $3.99 | $4.16 | +4.3% | $1.1B | $1.1B | +0.7% |
| 2022-11-01 | $4.05 | $4.13 | +2.0% | $1.1B | $1.1B | +2.2% |
| 2022-08-04 | $2.54 | $3.42 | +34.6% | $996.8M | $1.0B | +3.5% |
| 2022-05-03 | $2.32 | $2.63 | +13.4% | $981.3M | $973.4M | −0.8% |
| 2022-02-22 | $2.17 | $3.17 | +46.1% | $922.2M | $924.3M | +0.2% |
| 2021-11-01 | $2.13 | $2.52 | +18.3% | $845.9M | $894.9M | +5.8% |
| 2021-08-03 | $2.93 | $3.15 | +7.5% | $829.3M | $829.3M | 0.0% |
| 2021-04-28 | $1.77 | $2.21 | +24.9% | $725.1M | $767.3M | +5.8% |
| 2021-02-24 | $2.85 | $2.93 | +2.8% | $738.4M | $759.0M | +2.8% |
| 2020-11-04 | $2.60 | $2.63 | +1.2% | $851.7M | $734.5M | −13.8% |
Off-exchange (dark pool) volume, weekly
FINRA ATS, $ billions · through the week of 2026-08-31 (FINRA publishes with a delay)| Week of | Notional | Shares | Trades |
|---|---|---|---|
| 2026-08-31 | $369.0M | 1,212,734 | 45,526 |
| 2026-08-24 | $302.4M | 948,191 | 41,389 |
| 2026-08-17 | $264.2M | 814,234 | 41,198 |
| 2026-08-10 | $311.1M | 956,189 | 44,661 |
| 2026-08-03 | $324.1M | 992,813 | 42,716 |
| 2026-07-27 | $737.2M | 2,269,004 | 81,155 |
Short-sale share of off-exchange volume
daily 20-day average| Date | Short share | Short volume | Total volume |
|---|---|---|---|
| 2026-10-15 | 72.7% | 320,710 | 441,205 |
| 2026-10-14 | 63.6% | 184,941 | 290,939 |
| 2026-10-13 | 63.3% | 208,374 | 329,343 |
| 2026-10-12 | 67.4% | 211,720 | 314,121 |
| 2026-10-09 | 62.7% | 280,580 | 447,705 |
| 2026-10-08 | 53.3% | 247,227 | 464,276 |
| 2026-10-07 | 56.3% | 240,741 | 427,783 |
| 2026-10-06 | 68.6% | 286,681 | 417,672 |
| 2026-10-05 | 58.0% | 230,877 | 398,213 |
| 2026-10-02 | 75.1% | 225,513 | 300,159 |
A daily flow measure from FINRA, not short interest.
Seasonality
Average return by calendar month| Month | Avg return | Up years | Years |
|---|---|---|---|
| Jan | +2.1% | 70% | 20 |
| Feb | −0.0% | 50% | 20 |
| Mar | +2.3% | 71% | 21 |
| Apr | +0.4% | 50% | 20 |
| May | −0.4% | 55% | 20 |
| Jun | −0.3% | 45% | 20 |
| Jul | +1.3% | 65% | 20 |
| Aug | +2.2% | 60% | 20 |
| Sep | +0.0% | 45% | 20 |
| Oct | +1.0% | 60% | 20 |
| Nov | +0.3% | 60% | 20 |
| Dec | +4.0% | 60% | 20 |
History, not a forecast.
Indicators
as of 2026-10-16RSI 1458.2
MFI50.9
ADX22.9
Stochastic %K / %D79.8 / 73.9
Williams %R-16.0
CCI204
TSI / signal-9.9 / -22.7
Chaikin money flow-0.17
ATR$5.84
Bollinger width6.3%
Volume vs 20-day avg0.59x
SupertrendDown
Moving averages and bands
level (price vs level)SMA 20$287.56 (+3.7%)
SMA 50$301.58 (−1.1%)
SMA 200$300.55 (−0.7%)
EMA 21$290.80 (+2.6%)
EMA 50$297.83 (+0.2%)
EMA 200$300.28 (−0.7%)
Bollinger upper$296.68 (+0.5%)
Bollinger lower$278.44 (+7.1%)
Parabolic SAR$284.52 (+4.8%)
Open the live chart, 110+ indicatorsAbout Public Storage
Public Storage (PSA), an esteemed Real Estate Investment Trust (REIT) and a constituent of both the S&P 500 and FT Global 500 indices, concentrates its operations on the acquisition, development, ownership, and management of self-storage properties. By September 30, 2020, the company's substantial holdings included 2,504 self-storage facilities located across 38 U.S. states, collectively providing around 171 million net rentable square feet. Additionally, Public Storage held an approximate 35% common equity interest in Shurgard Self Storage SA (Euronext Brussels:SHUR), an entity that owned and operated 239 self-storage sites under the Shurgard brand in seven Western European countries, encompassing approximately 13 million net rentable square feet. Concurrently, it maintained an approximate 42% common equity interest in PS Business Parks, Inc. (NYSE:PSB), which, as of the same reporting date, managed roughly 28 million rentable square feet of commercial properties. The company's main office is situated in Glendale, California.
https://www.publicstorage.com
Key executives
| Name | Title | Pay | Born |
|---|---|---|---|
| Joseph D. Russell Jr. | Consultant | $3.0M | 1960 |
| H. Thomas Boyle | CEO & Trustee | $2.0M | 1984 |
| Natalia N. Johnson | President and Chief Digital & Transformation Officer | $1.5M | 1978 |
| Nathaniel A. Vitan | Senior Advisor | $864,000 | 1974 |
| Samuel Wade Sheek | Chief Legal Officer & Corporate Secretary | $864,000 | 1977 |
| Brandon Tyler Reagan | Director of Investor Relations | — | — |
| Joseph D. Fisher | President & CFO | — | 1980 |
| Michael Braine | Chief Technology Officer | — | — |
Executive pay, latest proxy
| Executive | Year | Salary | Stock awards | Incentive | Total |
|---|---|---|---|---|---|
| None on file. | |||||
Employees
Dividends
| Ex-date | Amount | Paid |
|---|---|---|
| 2026-09-15 | $3 | 2026-10-06 |
| 2026-06-15 | $3 | 2026-06-30 |
| 2026-03-16 | $3 | 2026-03-31 |
| 2025-12-15 | $3 | 2025-12-30 |
| 2025-09-15 | $3 | 2025-09-30 |
| 2025-06-12 | $3 | 2025-06-27 |
| 2025-03-13 | $3 | 2025-03-28 |
| 2024-12-13 | $3 | 2024-12-30 |
Moat model
Weak · Efficient Scale · 2026-06-30Cost advantage64
Intangibles25
Switching costs42
Network effect45
Efficient scale85
Our component scores (0-100) and overall 49.1; a model of the business, not a call on the stock.
InsiderStreet reports findings from filings and market data. Nothing on this page is a recommendation to buy or sell.Every figure is computed in code · data as of 2026-10-17