Public Storage (PSA) Stock Analysis
This is a peer-relative look at Public Storage (PSA): its performance, risk, profitability, growth, financial strength, dividend, and valuation are each measured against its Equity Real Estate Investment Trusts (REITs) peers, so every number reads in context rather than in isolation.
Company Profile
Public Storage (PSA) is a REIT, a distribution-oriented structure — read its payout ratio and P/E alongside FFO (funds from operations) rather than at face value.
| Profile Item | PSA |
|---|---|
| Name | Public Storage |
| Country/Region | United States |
| GICS Sector | Real Estate |
| GICS Industry Group | Equity Real Estate Investment Trusts (REITs) |
| GICS Industry | Specialized REITs |
| GICS Sub-Industry | Self-Storage REITs |
| Market Capitalization | 53.98 billion USD |
| Currency | USD |
| Exchange | NYSE |
| Listing Date | November 18, 1980 |
| Security Type | REIT |
Price Performance
Cumulative Growth
Trailing Returns
Calendar-Year Returns
Performance Metrics
| Metric | Current stock: PSA | Industry group median |
|---|---|---|
| Total Return (1Y) | 0.43% | 9.71% |
| Total Return (3Y, Annualized) | 6.22% | 10.50% |
| Total Return (5Y, Annualized) | 2.62% | -0.23% |
Risk Profile
Drawdown History
Return Distribution
Risk Metrics
| Metric | Current stock: PSA | Industry group median |
|---|---|---|
| Volatility (1Y, Annualized) | 23.11% | 22.98% |
| Beta (5Y) | 0.92 | 0.96 |
| Max Drawdown (5Y) | -37.93% | -42.22% |
Risk-Adjusted Performance
Risk-Return Positioning
Risk-Adjusted Metrics
| Metric | Current stock: PSA | Industry group median |
|---|---|---|
| Sharpe Ratio (1Y) | -0.17 | 0.20 |
| Sortino Ratio (1Y) | -0.25 | 0.31 |
Profitability
ROE (TTM)
Public Storage (PSA) posts ROE of 21.93%, in the upper peer quartile. That suggests the company earns more from each dollar of shareholders’ equity than most industry peers, a useful capital-efficiency signal.
PSA
Equity Real Estate Investment Trusts (REITs) industry group
21.93%
Group distribution
- Max
- 22.88%
- PSA
- 21.93%
- Q3
- 9.86%
- Median
- 5.42%
- Q1
- 1.18%
- Min
- -11.09%
Largest peers
- SPG
- 120.51%
- AMT
- 33.91%
- PSA
- 21.93%
- EQIX
- 10.74%
- PLD
- 7.75%
- WELL
- 3.84%
- DLR
- 2.91%
Net Margin (TTM)
net margin is set aside for Public Storage (PSA) in Equity Real Estate Investment Trusts (REITs): heavy depreciation can make net income a poor proxy for cash profitability, so FFO-based measures usually carry the read.
Operating Margin (TTM)
operating margin is set aside for Public Storage (PSA) in Equity Real Estate Investment Trusts (REITs): the operating-income line is not a clean boundary for this business model, so net margin, ROE, FFO, or industry-specific measures may be more useful.
Profitability Metrics
| Metric | Current stock: PSA | Industry group median |
|---|---|---|
| ROE (TTM) | 21.93% | 5.42% |
| ROA (TTM) | 6.99% | 2.40% |
| Net Margin (TTM) | -- | -- |
| Operating Margin (TTM) | -- | -- |
| Gross Margin (TTM) | -- | -- |
Growth
Revenue Growth
Public Storage (PSA) grew revenue 2.74%, roughly around the peer group's normal range. Top-line momentum looks broadly typical for the industry.
EPS Growth
EPS growth is not assessed for Public Storage (PSA) in Equity Real Estate Investment Trusts (REITs): under this industry convention, per-share earnings need a different yardstick.
Growth Metrics
| Metric | Current stock: PSA | Industry group median |
|---|---|---|
| Revenue Growth (YoY) | 2.74% | 5.17% |
| Revenue Growth (3Y CAGR) | 4.88% | 4.98% |
| EPS Growth (YoY) | -- | -- |
| EPS Growth (3Y CAGR) | -- | -- |
Financial Strength
Current Ratio (MRQ)
Public Storage (PSA) has current ratio of 0.22, in the tighter-liquidity quartile for its industry. The short-term cushion is thinner than most peers carry, even if the absolute comfort level still depends on the business model.
PSA
Equity Real Estate Investment Trusts (REITs) industry group
0.22
Group distribution
- Max
- 4.58
- Q3
- 2.20
- Median
- 1.10
- Q1
- 0.55
- PSA
- 0.22
- Min
- 0.05
Largest peers
- WELL
- 1.32
- EQIX
- 1.13
- DLR
- 0.89
- PLD
- 0.65
- AMT
- 0.35
- SPG
- 0.27
- PSA
- 0.22
Debt / Equity (MRQ)
Public Storage (PSA) has debt-to-equity ratio of 1.10, roughly in line with the peer group’s normal leverage range. Its mix of debt and equity looks typical for the industry.
PSA
Equity Real Estate Investment Trusts (REITs) industry group
1.10
Group distribution
- Max
- 2.78
- Q3
- 1.62
- PSA
- 1.10
- Median
- 1.02
- Q1
- 0.72
- Min
- 0.21
Largest peers
- SPG
- 5.04
- AMT
- 4.39
- EQIX
- 1.62
- PSA
- 1.10
- DLR
- 0.68
- PLD
- 0.64
- WELL
- 0.41
Financial Strength Metrics
| Metric | Current stock: PSA | Industry group median |
|---|---|---|
| Current Ratio (MRQ) | 0.22 | 1.10 |
| Debt / Equity (MRQ) | 1.10 | 1.02 |
| Net Debt / EBITDA | 2.89 | 5.81 |
Dividends
Dividend Yield (TTM)
Public Storage (PSA) has dividend yield of 4.14%, in the industry’s normal income range. It provides a meaningful dividend without the red flag of an unusually high headline yield.
PSA
Equity Real Estate Investment Trusts (REITs) industry group
4.14%
Group distribution
- Max
- 9.81%
- Q3
- 6.32%
- Median
- 4.67%
- PSA
- 4.14%
- Q1
- 3.43%
- Min
- 0.00%
Largest peers
- SPG
- 4.41%
- PSA
- 4.14%
- AMT
- 3.83%
- PLD
- 3.21%
- DLR
- 2.73%
- EQIX
- 1.92%
- WELL
- 1.36%
Dividend Payout Ratio (TTM)
payout ratio is not assessed for Public Storage (PSA) in Equity Real Estate Investment Trusts (REITs): distributions in this industry are better read against FFO or cash-flow measures than accounting earnings.
Dividend Metrics
| Metric | Current stock: PSA | Industry group median |
|---|---|---|
| Dividend Yield (TTM) | 4.14% | 4.67% |
| Dividend Payout Ratio (TTM) | -- | -- |
Valuation
P/E Ratio (TTM)
P/E ratio is not assessed for Public Storage (PSA) in Equity Real Estate Investment Trusts (REITs): depreciation can depress accounting earnings in this industry, so price-to-FFO is the more relevant valuation yardstick.
P/S Ratio (TTM)
Public Storage (PSA) trades at 10.99 on P/S ratio, in the higher sales-valuation quartile. Investors are paying up for each dollar of revenue, so stronger margins, growth, or revenue quality need to carry that price.
PSA
Equity Real Estate Investment Trusts (REITs) industry group
10.99
Group distribution
- Max
- 14.32
- PSA
- 10.99
- Q3
- 7.82
- Median
- 5.75
- Q1
- 3.32
- Min
- 0.46
Largest peers
- PLD
- 13.33
- WELL
- 13.00
- SPG
- 11.02
- PSA
- 10.99
- EQIX
- 10.29
- DLR
- 10.07
- AMT
- 7.77
P/B Ratio (MRQ)
Public Storage (PSA) trades at 10.48 on P/B ratio, above the industry benchmark range. Investors are putting an unusually rich price on each dollar of book equity relative to peers.
PSA
Equity Real Estate Investment Trusts (REITs) industry group
10.48
Group distribution
- PSA
- 10.48
- Max
- 3.94
- Q3
- 2.48
- Median
- 1.61
- Q1
- 1.02
- Min
- 0.28
Largest peers
- AMT
- 22.87
- SPG
- 14.83
- PSA
- 10.48
- EQIX
- 7.08
- WELL
- 3.57
- DLR
- 2.50
- PLD
- 2.30
Valuation Metrics
| Metric | Current stock: PSA | Industry group median |
|---|---|---|
| P/E Ratio (TTM) | -- | -- |
| P/S Ratio (TTM) | 10.99 | 5.75 |
| P/B Ratio (MRQ) | 10.48 | 1.61 |
| Free Cash Flow Yield (TTM) | -- | -- |