EXR vs. PSA: Extra Space Storage vs. Public Storage Stock Comparison

Company Profile

Extra Space Storage (EXR) and Public Storage (PSA) are both classified in the Self-Storage REITs sub-industry within the broader Specialized REITs industry, placing them in the closest GICS peer bucket.

Both Extra Space Storage (EXR) and Public Storage (PSA) are REITs — read their payout ratios and P/E alongside FFO (funds from operations) rather than at face value.

Price Performance

Cumulative Growth

Trailing Returns

Calendar-Year Returns

Performance Metrics

Risk Profile

Drawdown History

Return Distribution

Risk Metrics

Risk-Adjusted Performance

Risk-Return Positioning

Risk-Adjusted Metrics

Profitability

Public Storage (PSA) at 15.60% sits in the top ROE quartile, while Extra Space Storage (EXR) at 7.71% is closer to the peer norm — stronger capital efficiency for PSA.

Neither Extra Space Storage (EXR) in Equity Real Estate Investment Trusts (REITs) nor Public Storage (PSA) in Equity Real Estate Investment Trusts (REITs) is well served by net margin: heavy depreciation makes net income a poor profitability proxy in their businesses, where FFO-based measures are the standard read.

Neither side reports a meaningful operating margin: for Extra Space Storage (EXR) in Equity Real Estate Investment Trusts (REITs) and Public Storage (PSA) in Equity Real Estate Investment Trusts (REITs), funding costs are part of the core business, so net margin and ROE are the cleaner profitability reads.

Profitability Metrics

Growth

Both Extra Space Storage (EXR) at 3.70% and Public Storage (PSA) at 2.74% land near their industries' usual revenue growth ranges, so top-line momentum looks broadly in line with peers on both sides.

EPS growth isn't a meaningful figure for either Extra Space Storage (EXR) in Equity Real Estate Investment Trusts (REITs) or Public Storage (PSA) in Equity Real Estate Investment Trusts (REITs) under our convention.

Growth Metrics

Financial Strength

Extra Space Storage (EXR) at 0.87 keeps current ratio within its industry’s typical mid-range, while Public Storage (PSA) at 0.37 runs in the tighter-liquidity quartile — a thinner cushion against current liabilities for PSA.

Both Extra Space Storage (EXR) at 1.03 and Public Storage (PSA) at 0.80 fund their balance sheets with roughly industry-typical debt-to-equity mixes.

Financial Strength Metrics

Dividends

Both Extra Space Storage (EXR) at 4.05% and Public Storage (PSA) at 3.52% pay solid, industry-typical yields, sitting squarely within their peers’ usual range.

An earnings-based payout ratio fits neither Extra Space Storage (EXR) in Equity Real Estate Investment Trusts (REITs) nor Public Storage (PSA) in Equity Real Estate Investment Trusts (REITs): their distributions are mandated and conventionally measured against FFO, so the accounting-earnings ratio overstates both.

Dividend Metrics

Valuation

P/E ratio is not a meaningful valuation yardstick for either Extra Space Storage (EXR) in Equity Real Estate Investment Trusts (REITs) or Public Storage (PSA) in Equity Real Estate Investment Trusts (REITs): depreciation suppresses reported earnings in their businesses, and price-to-FFO is the conventional yardstick instead.

Both Extra Space Storage (EXR) at 9.86 and Public Storage (PSA) at 12.50 command a richer price per dollar of sales than most peers, sitting in the upper P/S ratio quartile of their industries.

Both look rich against book: Extra Space Storage (EXR) at 2.59 sits in the upper P/B ratio quartile, and Public Storage (PSA) at 6.45 prices even higher, above its industry range.

Valuation Metrics