PSA Stock Analysis: Public Storage | NYSE
REIT - Industrial | NYSE, USA | Market Cap: 57.878m USD | 12M Return: 15.1% | Charts, Fundamentals & Technical Analysis
Avg Turnover: 320M
EPS Trend: -73.4%
Qual. Beats: 1
Rev. Trend: 98.1%
Qual. Beats: 0
Warnings
No concerns identified
Tailwinds
Seasonality 10.5 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: 1.90b TTM > 0 and > 6% of Revenue |
| FCF/TA: 0.15 > 0.02 and ΔFCF/TA 1.19 > 1.0 |
| NWC/Revenue: -7.49% < 20% (prev -4.94%; Δ -2.55% < -1%) |
| CFO/TA 0.16 > 3% & CFO 3.18b > Net Income 1.90b |
| Net Debt (9.57b) to EBITDA (3.22b): 2.97 < 3 |
| Current Ratio: 0.27 > 1.5 & < 3 |
| Outstanding Shares: last quarter (175.9m) vs 12m ago -0.01% < -2% |
| Gross Margin: 60.63% > 18% (prev 73.20%; Δ -12.57% > 0.5%) |
| Asset Turnover: 24.62% > 50% (prev 24.07%; Δ 0.55% > 0%) |
| Interest Coverage Ratio: 6.60 > 6 (EBIT TTM 2.06b / Interest Expense TTM 312.5m) |
| A: -0.02 (Total Current Assets 134.6m - Total Current Liabilities 498.4m) / Total Assets 19.9b |
| B: -0.06 (Retained Earnings -1.27b / Total Assets 19.9b) |
| C: 0.10 (EBIT TTM 2.06b / Avg Total Assets 19.7b) |
| D: 0.88 (Book Value of Equity 9.22b / Total Liabilities 10.5b) |
| Altman-Z'' = 1.29 = BB |
| DSRI: 1.76 (Receivables 142.5m/78.5m, Revenue 4.86b/4.72b) |
| GMI: 1.21 (GM 73.20% / 60.63%) |
| AQI: 0.05 (AQ_t 0.05 / AQ_t-1 0.97) |
| SGI: 1.03 (Revenue 4.86b / 4.72b) |
| TATA: -0.06 (NI 1.90b - CFO 3.18b) / TA 19.9b) |
| Beneish M = -2.76 (Cap -4..+1) = A |
As of July 11, 2026, the stock is trading at USD 319.35 with a total of 670,906 shares traded. Over the past week, the price has changed by -1.14%, over one month by -0.17%, over three months by +9.90% and over the past year by +15.09%.
Current recommended Stop Loss: 307.20 (which is 3.8% or 1.7 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 | 330.6 | 3.5% |
P/E Trailing = 34.0186
P/E Forward = 33.3333
P/S = 11.881
P/B = 11.6363
P/EG = 4.7038
Revenue TTM = 4.86b USD
EBIT TTM = 2.06b USD
EBITDA TTM = 3.22b USD
Long Term Debt = 9.71b USD (from longTermDebt, last quarter)
Short Term Debt = 325.0m USD (from shortLongTermDebt, last quarter)
Debt = 9.71b USD (from shortLongTermDebtTotal, last quarter)
Net Debt = 9.57b USD (calculated: Debt 9.71b - CCE 134.6m)
Enterprise Value = 67.5b USD (57.9b + Debt 9.71b - CCE 134.6m)
Interest Coverage Ratio = 6.60 (Ebit TTM 2.06b / Interest Expense TTM 312.5m)
EV/FCF = 22.01x (Enterprise Value 67.5b / FCF TTM 3.06b)
FCF Yield = 4.54% (FCF TTM 3.06b / Enterprise Value 67.5b)
FCF Margin = 63.07% (FCF TTM 3.06b / Revenue TTM 4.86b)
Net Margin = 39.16% (Net Income TTM 1.90b / Revenue TTM 4.86b)
Gross Margin = 60.63% ((Revenue TTM 4.86b - Cost of Revenue TTM 1.91b) / Revenue TTM)
Gross Margin QoQ = 72.08% (prev 24.01%)
Tobins Q-Ratio = 3.40 (Enterprise Value 67.5b / Total Assets 19.9b)
Interest Expense / Debt = 3.22% (Interest Expense 312.5m / Debt 9.71b)
Taxrate = 0.30% (1.57m / 530.9m)
NOPAT = 2.06b (EBIT 2.06b * (1 - 0.30%))
Current Ratio = 0.27 (Total Current Assets 134.6m / Total Current Liabilities 498.4m)
Debt / Equity = 1.05 (Debt 9.71b / totalStockholderEquity, last quarter 9.22b)
Debt / EBITDA = 2.97 (Net Debt 9.57b / EBITDA 3.22b)
Debt / FCF = 3.12 (Net Debt 9.57b / FCF TTM 3.06b)
Total Stockholder Equity = 9.29b (last 4 quarters mean from totalStockholderEquity)
RoA = 9.64% (Net Income 1.90b / Total Assets 19.9b)
RoE = 20.48% (Net Income TTM 1.90b / Total Stockholder Equity 9.29b)
RoCE = 10.86% (EBIT 2.06b / Capital Employed (Equity 9.29b + L.T.Debt 9.71b))
RoIC = 10.70% (NOPAT 2.06b / Invested Capital 19.2b)
WACC = 5.99% (E(57.9b)/V(67.6b) * Re(6.46%) + D(9.71b)/V(67.6b) * Rd(3.22%) * (1-Tc(0.00)))
Discount Rate = 6.46% (= CAPM, Blume Beta Adj.)
Shares (quarterly) Correlation: -20.0 | Cagr: 0.07%
[DCF] Terminal Value 76.63% ; FCFF base≈2.96b ; Y1≈3.21b ; Y5≈3.96b
[DCF] Fair Price = 291.0 (EV 60.7b - Net Debt 9.57b = Equity 51.1b / Shares 175.6m; r=8.35% [WACC [floored]]; 5y FCF grow 9.68% → 2.50% )
EPS Correlation: -73.38 | EPS CAGR: -3.67% | SUE: 0.86 | # QB: 1
Revenue Correlation: 98.13 | Revenue CAGR: 3.55% | SUE: 0.76 | # QB: 0
EPS current Quarter (2026-06-30): EPS=2.54 | Chg30d=+0.60% | Revisions=+25% | Analysts=2
EPS next Quarter (2026-09-30): EPS=2.51 | Chg30d=+9.67% | Revisions=+25% | Analysts=1
EPS current Year (2026-12-31): EPS=9.83 | Chg30d=+4.89% | Revisions=+25% | GrowthEPS=-4.0% | GrowthRev=+3.9%
EPS next Year (2027-12-31): EPS=10.48 | Chg30d=+3.32% | Revisions=+17% | GrowthEPS=+6.6% | GrowthRev=+7.2%
[Analyst] Revisions Ratio: +44% (up=5, down=1)