Public Storage (PSA) Stock Price, News & Analysis

Company Overview

Public Storage is a REIT focused on acquiring, developing, owning, and operating self-storage facilities in the US and Europe. The company is a member of the S&P 500 and the FT Global 500 and is the world’s 4th largest REIT by market cap. Along with its holdings of self-storage facilities, the company owns a 42% stake in business park company PS Business Parks and is also in business selling packing and storage supplies. The company is headquartered in Glendale California.

The company was founded in 1972 by B. Wayne Hughes and Kenneth Polk who used the leverage of investments from RELPs to grow the business. The original plan was to use the storage warehouses as a means of generating income until the properties were more valuable. The surprise is that demand for storage space was high and led to unexpected profitability.

The company has more than 1,000 locations by 1989 and then, in 1995, it transformed itself into a publicly traded REIT. The transformation was spurred by tax changes that made RELPs obsolete. The transformation was done via a merger with Storage Equities which gave up its name in favor of Public Storage. The company grew again with the acquisition of Shurgard in 2006 but it has since been spun off as its own publicly traded company. Public Storage retains 36% ownership in Shurgard.

As of September 2022, the company owned and operated 2,807 self-storage facilities in 39 states. The total area of rental space exceeded 2 million square feet serving nearly 2 million customers and generating close to $3.5 billion in annual revenues. Shurgard lays claim to another 239 facilities in the EU which amounts to another 13 minion square feet of storage space. PS Business Parks, Inc, which trades under the ticker (NYSE: PSB) owns and operates 28 million square feet of commercial space.

Advantages of Public Storage include scale, leverage, and the balance sheet. The company’s size and scale mean that more than half the US population lives within driving distance of a Public Storage facility. The company gives leverage through its three-pronged acquisition, development, and redevelopment strategy which are all supported by the balance sheet. The company’s balance sheet is set up for growth and is able to self-fund most new projects.

Written by Jeffrey Neal Johnson

Key Stats

• Today's Range: $291.29 to $296.55
• 50-Day Range: $266.03 to $313.99
• 52-Week Range: $256.31 to $369.99
• Volume: 155,872 shs
• Average Volume: 775,393 shs
• Market Capitalization: $52.17 billion
• P/E Ratio: 30.89
• Dividend Yield: 4.03%
• Price Target: $332.08
• Consensus Rating: Moderate Buy

Public Storage Stock Analysis - MarketRank™

Public Storage scored higher than 90% of companies evaluated by MarketBeat, and ranked 294th out of 951 stocks in the finance sector. Scores are calculated by averaging available category scores, with extra weight given to analysis and valuation.

Analyst's Opinion

• Score: 3.3 / 5
• Analyst Rating: Moderate Buy

Consensus Rating

Public Storage has received a consensus rating of Moderate Buy. The company's average rating score is 2.62, and is based on 6 buy ratings, 6 hold ratings, and no sell ratings.

Amount of Analyst Coverage

Public Storage has been the subject of 6 research reports in the past 90 days, demonstrating strong analyst interest in this stock.

Earnings and Valuation

• Score: 0.6 / 5
• Proj. Earnings Growth: 3.11%

Earnings Growth

Earnings for Public Storage are expected to grow by 3.11% in the coming year, from $16.70 to $17.22 per share.

Price to Earnings Ratio vs. the Market

The P/E ratio of Public Storage is 30.61, which means that it is trading at a more expensive P/E ratio than the market average P/E ratio of about 21.37.

Price to Earnings Ratio vs. Sector

The P/E ratio of Public Storage is 30.61, which means that it is trading at a more expensive P/E ratio than the Finance sector average P/E ratio of about 21.69.

Price to Earnings Growth Ratio

Public Storage has a PEG Ratio of 4.91. PEG Ratios above 1 indicate that a company could be overvalued.

Price to Book Value per Share Ratio

Public Storage has a P/B Ratio of 8.99. P/B Ratios above 3 indicate that a company could be overvalued with respect to its assets and liabilities.

Short Interest

• Score: 3.0 / 5
• Short Interest Level: Healthy

Percentage of Shares Shorted

2.05% of the float of Public Storage has been sold short.

Short Interest Ratio / Days to Cover

Public Storage has a short interest ratio ("days to cover") of 4.2.

Change versus previous month

Short interest in Public Storage has recently decreased by 1.22%, indicating that investor sentiment is improving.

Dividend

• Score: 2.5 / 5
• Dividend Strength: Moderate

Dividend Leadership

Public Storage is a leading dividend payer. It pays a dividend yield of 4.28%, putting its dividend yield in the top 25% of dividend-paying stocks.

Dividend Growth

Public Storage does not have a long track record of dividend growth.

Dividend Coverage

The dividend payout ratio of Public Storage is 112.89%. Payout ratios above 75% are not desirable because they may not be sustainable.

Dividend Sustainability

Based on earnings estimates, Public Storage will have a dividend payout ratio of 69.69% next year. This indicates that Public Storage will be able to sustain or increase its dividend.

Sustainability and ESG

• Score: 4.1 / 5
• Environmental Score: -0.53

Percentage of Shares Shorted

2.05% of the float of Public Storage has been sold short.

Short Interest Ratio / Days to Cover

Public Storage has a short interest ratio ("days to cover") of 4.2.

Change versus previous month

Short interest in Public Storage has recently decreased by 1.22%, indicating that investor sentiment is improving.

News and Social Media

• Score: 3.4 / 5
• News Sentiment: 1.10

News Sentiment

Public Storage has a news sentiment score of 1.10. This score is calculated as an average of sentiment of articles about the company over the last seven days and ranges from 2 (good news) to -2 (bad news). This is a higher news sentiment than the 0.90 average news sentiment score of Finance companies.

News Coverage This Week

MarketBeat has tracked 32 news articles for Public Storage this week, compared to 14 articles on an average week.

Search Interest

Only 5 people have searched for PSA on MarketBeat in the last 30 days. This is a decrease of -17% compared to the previous 30 days.

MarketBeat Follows

13 people have added Public Storage to their MarketBeat watchlist in the last 30 days. This is an increase of 225% compared to the previous 30 days.

Company Ownership

• Score: 2.5 / 5
• Insider Trading: N/A

Insider Buying vs. Insider Selling

In the past three months, Public Storage insiders have not sold or bought any company stock.

Percentage Held by Insiders

11.10% of the stock of Public Storage is held by insiders. A high percentage of insider ownership can be a sign of company health.

Percentage Held by Institutions

78.79% of the stock of Public Storage is held by institutions. High institutional ownership can be a signal of strong market trust in this company.

PSA Stock Analysis - Frequently Asked Questions

How have PSA shares performed this year?

Public Storage's stock was trading at $299.44 at the start of the year. Since then, PSA shares have decreased by 1.6% and is now trading at $294.7410.
View the best growth stocks for 2025 here.

How were Public Storage's earnings last quarter?

Public Storage (NYSE:PSA) announced its earnings results on Tuesday, July, 30th. The real estate investment trust reported $2.66 EPS for the quarter, missing the consensus estimate of $4.20 by $1.54. The firm's revenue for the quarter was down 1.0% on a year-over-year basis.
Read the conference call transcript.

Who are Public Storage's major shareholders?

Public Storage's top institutional shareholders include GAMMA Investing LLC (0.30%), Rhumbline Advisers (0.20%), Handelsbanken Fonder AB (0.05%) and Fifth Third Bancorp (0.03%). Insiders that own company stock include John Reyes, Joseph D Russell Jr, Tamara Hughes Gustavson, Nathaniel A Vitan and Kristy Pipes.
View institutional ownership trends.

How do I buy shares of Public Storage?

Shares of PSA stock can be purchased through any online brokerage account. Popular online brokerages with access to the U.S. stock market include Charles Schwab, E*TRADE, Fidelity, and Vanguard Brokerage Services.

What other stocks do shareholders of Public Storage own?

Based on aggregate information from My MarketBeat watchlists, some other companies that Public Storage investors own include NVIDIA (NVDA), Meta Platforms (META), Tesla (TSLA), Chevron (CVX), JPMorgan Chase & Co. (JPM), Exxon Mobil (XOM) and Intel (INTC).

Company Calendar

• Last Earnings: 7/30/2024
• Record date for 3/28 Dividend: 3/13/2025
• Ex-Dividend for 3/28 Dividend: 3/13/2025
• Dividend Payable: 3/28/2025
• Today: 4/17/2025
• Next Earnings (Estimated): 4/30/2025
• Fiscal Year End: 12/31/2025

Industry, Sector and Symbol

• Stock Exchange: NYSE
• Sector: Finance
• Industry: Real estate investment trusts
• Sub-Industry: Specialized REITs
• Current Symbol: NYSE:PSA
• CIK: 1393311
• Web: www.publicstorage.com
• Phone: (818) 244-8080
• Fax: 818-244-9530
• Employees: 5,900
• Year Founded: 1972

Price Target and Rating

• Average Stock Price Target: $332.08
• High Stock Price Target: $422.00
• Low Stock Price Target: $287.00
• Potential Upside/Downside: +14.8%
• Consensus Rating: Moderate Buy
• Rating Score (0-4): 2.62
• Research Coverage: 13 Analysts

Profitability

• EPS (Most Recent Fiscal Year): $10.63
• Trailing P/E Ratio: 30.04
• Forward P/E Ratio: 17.32
• P/E Growth: 4.91
• Net Income: $2.15 billion
• Net Margins: 40.54%
• Pretax Margin: 40.97%
• Return on Equity: 34.07%
• Return on Assets: 9.60%

Debt

• Debt-to-Equity Ratio: 1.77
• Current Ratio: 0.97
• Quick Ratio: 0.97

Sales & Book Value

• Annual Sales: $4.70 billion
• Price / Sales: 10.81
• Cash Flow: $16.89 per share
• Price / Cash Flow: 17.13
• Book Value: $32.77 per share
• Price / Book: 8.83

Miscellaneous

• Outstanding Shares: 175,416,000
• Free Float: 155,847,000
• Market Cap: $50.74 billion
• Optionable: Optionable
• Beta: 0.76