PSA Stock Analysis: Public Storage | NYSE
REIT - Industrial | NYSE, USA | Market Cap: 55.366m USD | 12M Return: 7% | US74460D1090 | Charts, Fundamentals & Technical Analysis
Avg Turnover: 254M
EPS Trend: -8.2%
Qual. Beats: -1
Rev. Trend: 98.5%
Qual. Beats: 0
Warnings
Tailwinds
Seasonality 11.7 years of data
How good or bad each month usually is (without trend). The score below shows how much you can trust it: 0 = pure chance, >40 gets interesting and >55 is strong.
Public Storage (NYSE: PSA) is a Maryland-incorporated, S&P 500-listed real estate investment trust (REIT) founded in 1972 that acquires, develops, owns, and operates self-storage facilities. As of March 31, 2026, the companys U.S. footprint comprised 3,546 owned and/or operated self-storage facilities across 40 states, totaling approximately 259 million net rentable square feet. Public Storage also holds a 35% common equity interest in Shurgard Self Storage Limited (Euronext Brussels: SHUR), which operates 333 facilities under the Shurgard brand in seven Western European countries, encompassing roughly 19 million net rentable square feet.
As a self-storage REIT, Public Storage generates revenue primarily through rental income on individual storage units rented to both residential and business customers on a month-to-month basis, a model that provides recurring cash flow with low direct customer concentration. REITs such as PSA are generally required to distribute a substantial portion of taxable income to shareholders in order to maintain their pass-through tax status, making dividend yield a key consideration for investors in the sector.
- Interest rate cuts reduce borrowing costs and boost REIT valuations
- Same-store revenue grows on pricing power and occupancy gains
- New self-storage supply pressures occupancy and pricing in top markets
| Net Income: 2.04b TTM > 0 and > 6% of Revenue |
| FCF/TA: 0.16 > 0.02 and ΔFCF/TA 2.11 > 1.0 |
| NWC/Revenue: -4.43% < 20% (prev 10.10%; Δ -14.54% < -1%) |
| CFO/TA 0.16 > 3% & CFO 3.17b > Net Income 2.04b |
| Net Debt (9.92b) to EBITDA (3.38b): 2.93 < 3 |
| Current Ratio: 0.67 > 1.5 & < 3 |
| Outstanding Shares: last quarter (176.5m) vs 12m ago 0.34% < -2% |
| Gross Margin: 60.36% > 18% (prev 73.00%; Δ -12.64% > 0.5%) |
| Asset Turnover: 24.06% > 50% (prev 23.12%; Δ 0.93% > 0%) |
| Interest Coverage Ratio: 6.81 > 6 (EBIT TTM 2.22b / Interest Expense TTM 325.7m) |
| A: -0.01 (Total Current Assets 433.2m - Total Current Liabilities 650.1m) / Total Assets 20.1b |
| B: -0.07 (Retained Earnings -1.35b / Total Assets 20.1b) |
| C: 0.11 (EBIT TTM 2.22b / Avg Total Assets 20.3b) |
| D: 0.85 (Book Value of Equity 9.19b / Total Liabilities 10.8b) |
| Altman-Z'' = 1.33 = BB |
| DSRI: 2.14 (Receivables 173.3m/78.5m, Revenue 4.89b/4.75b) |
| GMI: 1.21 (GM 73.00% / 60.36%) |
| AQI: 0.05 (AQ_t 0.05 / AQ_t-1 0.93) |
| SGI: 1.03 (Revenue 4.89b / 4.75b) |
| TATA: -0.06 (NI 2.04b - CFO 3.17b) / TA 20.1b) |
| Beneish M = -2.44 (Cap -4..+1) = BBB |
As of September 27, 2026, the stock is trading at USD 287.97 with a total of 717,911 shares traded. Over the past week, the price has changed by -2.81%, over one month by -9.84%, over three months by -9.30% and over the past year by +7.00%.
Current recommended Stop Loss: 279.50 (which is 2.9% or 1.4 ATR below the current price).
Public Storage has received a consensus analysts rating of 3.90. Therefore, it is recommended to buy PSA.
- StrongBuy: 7
- Buy: 5
- Hold: 9
- Sell: 0
- StrongSell: 0
| Analysts Target Price | 337.1 | 17.1% |
P/E Trailing = 28.2469
P/E Forward = 27.8552
P/S = 11.2752
P/B = 11.4386
P/EG = 3.967
Revenue TTM = 4.89b USD
EBIT TTM = 2.22b USD
EBITDA TTM = 3.38b USD
Long Term Debt = 10.2b USD (from longTermDebt, last quarter)
Short Term Debt = 650.1m USD (from shortTermDebt, last quarter)
Debt = 10.2b USD (from shortLongTermDebtTotal, last quarter)
Net Debt = 9.92b USD (calculated: Debt 10.2b - CCE 259.9m)
Enterprise Value = 65.3b USD (55.4b + Debt 10.2b - CCE 259.9m)
Interest Coverage Ratio = 6.81 (Ebit TTM 2.22b / Interest Expense TTM 325.7m)
EV/FCF = 20.50x (Enterprise Value 65.3b / FCF TTM 3.19b)
FCF Yield = 4.88% (FCF TTM 3.19b / Enterprise Value 65.3b)
FCF Margin = 65.13% (FCF TTM 3.19b / Revenue TTM 4.89b)
Net Margin = 41.80% (Net Income TTM 2.04b / Revenue TTM 4.89b)
Gross Margin = 60.36% ((Revenue TTM 4.89b - Cost of Revenue TTM 1.94b) / Revenue TTM)
Gross Margin QoQ = 72.09% (prev 72.08%)
Tobins Q-Ratio = 3.25 (Enterprise Value 65.3b / Total Assets 20.1b)
Interest Expense / Debt = 3.20% (Interest Expense 325.7m / Debt 10.2b)
Taxrate = 0.54% (2.72m / 505.7m)
NOPAT = 2.21b (EBIT 2.22b * (1 - 0.54%))
Current Ratio = 0.67 (Total Current Assets 433.2m / Total Current Liabilities 650.1m)
Debt / Equity = 1.11 (Debt 10.2b / totalStockholderEquity, last quarter 9.19b)
Debt / EBITDA = 2.93 (Net Debt 9.92b / EBITDA 3.38b)
Debt / FCF = 3.11 (Net Debt 9.92b / FCF TTM 3.19b)
Total Stockholder Equity = 9.24b (last 4 quarters mean from totalStockholderEquity)
RoA = 10.06% (Net Income 2.04b / Total Assets 20.1b)
RoE = 22.12% (Net Income TTM 2.04b / Total Stockholder Equity 9.24b)
RoCE = 11.41% (EBIT 2.22b / Capital Employed (Equity 9.24b + L.T.Debt 10.2b))
RoIC = 11.10% (NOPAT 2.21b / Invested Capital 19.9b)
WACC = 5.77% (E(55.4b)/V(65.5b) * Re(6.25%) + D(10.2b)/V(65.5b) * Rd(3.20%) * (1-Tc(0.01)))
Discount Rate = 6.25% (= CAPM, Blume Beta Adj.)
Shares (quarterly) Correlation: 5.62 | Cagr: 0.04%
[DCF] Terminal Value 77.66% ; FCFF base≈3.04b ; Y1≈3.42b ; Y5≈4.83b
[DCF] Fair Price = 337.1 (EV 72.9b - Net Debt 9.92b = Equity 63.0b / Shares 186.9m; r=8.35% [WACC [floored]]; 5y FCF grow 13.02% → 2.50% )
EPS Correlation: -8.17 | EPS CAGR: -0.51% | SUE: -1.59 | # QB: -1
Revenue Correlation: 98.50 | Revenue CAGR: 3.24% | SUE: 0.51 | # QB: 0
EPS current Quarter (2026-09-30): EPS=2.43 | Chg30d=+13.91% | Revisions=+25% | Analysts=3
EPS current Year (2026-12-31): EPS=10.00 | Chg30d=N/A | Revisions=+25% | GrowthEPS=-2.3% | GrowthRev=+5.3%
EPS next Year (2027-12-31): EPS=10.23 | Chg30d=+11.29% | Revisions=+25% | GrowthEPS=+2.3% | GrowthRev=+7.3%
[Analyst] Revisions Ratio: +50% (up=3, down=0)