Public Storage (NYSE:PSA)

Public Storage PSA

Real Estate - REIT - Industrial - NYSE - US

Watchlist

$ 335.01

0.971 %

$ 58.7 B

Market Cap

35.04

P/E

1. INTRINSIC VALUE

Public Storage, a member of the S&P 500 and FT Global 500, is a REIT that primarily acquires, develops, owns and operates self-storage facilities. At September 30, 2020, we had: (i) interests in 2,504 self-storage facilities located in 38 states with approximately 171 million net rentable square feet in the United States, (ii) an approximate 35% common equity interest in Shurgard Self Storage SA (Euronext Brussels:SHUR) which owned 239 self-storage facilities located in seven Western European nations with approximately 13 million net rentable square feet operated under the "Shurgard" brand and (iii) an approximate 42% common equity interest in PS Business Parks, Inc.[ Read More ]

The intrinsic value of one PSA stock under the base case scenario is HIDDEN Compared to the current market price of 335 USD, Public Storage is HIDDEN

PSA Intrinsic Value
HIDDEN

SHOW

2. FUNDAMENTAL ANALYSIS

Price Chart PSA

FINANCIALS

Annual
Quarterly

4.52 B REVENUE

Growth Rates

1Year 8.02%

3Years 15.72%

5Years 10.36%

7Years 8.45%

10Years 8.68%

3.22 B OPERATING INCOME

Growth Rates

1Year 48.31%

3Years 31.62%

5Years 17.87%

7Years 12.92%

10Years 12.96%

2.16 B NET INCOME

Growth Rates

1Year -50.53%

3Years 16.64%

5Years 4.70%

7Years 5.75%

10Years 7.40%

3.25 B OPERATING CASH FLOW

Growth Rates

1Year 4.15%

3Years 16.70%

5Years 9.51%

7Years 7.59%

10Years 8.54%

-3.54 B INVESTING CASH FLOW

Growth Rates

1Year -315.94%

3Years -46.83%

5Years -47.10%

7Years -25.62%

10Years -9.62%

-113 M FINANCING CASH FLOW

Growth Rates

1Year 97.31%

3Years 52.83%

5Years 41.29%

7Years 28.21%

10Years -21.46%

1.19 B REVENUE

Growth Rates

1Year 8.02%

3Years 15.72%

5Years 10.36%

7Years 8.45%

10Years 8.68%

834 M OPERATING INCOME

Growth Rates

1Year 48.31%

3Years 31.62%

5Years 17.87%

7Years 12.92%

10Years 12.96%

433 M NET INCOME

Growth Rates

1Year -50.53%

3Years 16.64%

5Years 4.70%

7Years 5.75%

10Years 7.40%

799 M OPERATING CASH FLOW

Growth Rates

1Year 4.15%

3Years 16.70%

5Years 9.51%

7Years 7.59%

10Years 8.54%

-213 M INVESTING CASH FLOW

Growth Rates

1Year -315.94%

3Years -46.83%

5Years -47.10%

7Years -25.62%

10Years -9.62%

-560 M FINANCING CASH FLOW

Growth Rates

1Year 97.31%

3Years 52.83%

5Years 41.29%

7Years 28.21%

10Years -21.46%

Balance Sheet Decomposition Public Storage

19.8 B ASSETS
9.7 B LIABILITIES

Current Assets	370 M
Cash & Short-Term Investments	370 M
Receivables	0
Other Current Assets	0
Non-Current Assets	19.4 B
Long-Term Investments	390 M
PP&E	18.4 B
Other Non-Current Assets	662 M

Current Liabilities	599 M
Accounts Payable	0
Short-Term Debt	0
Other Current Liabilities	599 M
Non-Current Liabilities	9.1 B
Long-Term Debt	9.1 B
Other Non-Current Liabilities	0

EFFICIENCY

Earnings Waterfall Public Storage

Revenue	4.52 B
Cost Of Revenue	1.15 B
Gross Profit	3.37 B
Operating Expenses	80.6 M
Operating Income	3.22 B
Other Expenses	1.06 B
Net Income	2.16 B

RATIOS

74.59% GROSS MARGIN

Averages

1Year 74.59%

3Years 74.15%

5Years 72.84%

7Years 72.89%

10Years 72.93%

71.22% OPERATING MARGIN

Averages

1Year 71.22%

3Years 57.68%

5Years 54.56%

7Years 53.91%

10Years 53.13%

47.55% NET MARGIN

Averages

1Year 47.55%

3Years 69.58%

5Years 61.71%

7Years 60.66%

10Years 58.90%

21.45% ROE

Averages

1Year 21.45%

3Years 28.52%

5Years 23.64%

7Years 21.87%

10Years 19.49%

10.85% ROA

Averages

1Year 10.85%

3Years 15.62%

5Years 14.35%

7Years 14.40%

10Years 14.02%

16.75% ROIC

Averages

1Year 16.75%

3Years 13.20%

5Years 13.14%

7Years 13.26%

10Years 13.09%

FREE CASH FLOW ANALYSIS

Free Cash Flow Analysis Public Storage

Net Income	2.16 B
Depreciation & Amortization	970 M
Capital Expenditures	-461 M
Stock-Based Compensation	41.6 M
Change in Working Capital	18.9 M
Others	74.9 M
Free Cash Flow	2.79 B

3. WALL STREET ANALYSTS ESTIMATES

Wall Street Analysts Price Targets Public Storage

Wall Street analysts predict an average 1-year price target for PSA of $329 , with forecasts ranging from a low of $289 to a high of $378 .

PSA Lowest Price Target Wall Street Target

289 USD -13.73%

PSA Average Price Target Wall Street Target

329 USD -1.69%

PSA Highest Price Target Wall Street Target

378 USD 12.83%

4. DIVIDEND ANALYSIS

0.90% DIVIDEND YIELD

3 USD DIVIDEND PER SHARE

5. COMPETITION

CubeSmart is a self-administered and self-managed real estate investment trust. The Company's self-storage properties are designed to offer affordable, easily accessible and secure storage space for residential and commercial customers.

65.2 USD

CUBE

Undervalued 34.97%

National Storage Affiliates Trust is a Maryland real estate investment trust focused on the ownership, operation and acquisition of self storage properties located within the top 100 metropolitan statistical areas throughout the United States.

105 USD

NSA

Undervalued 142.75%

Prologis, Inc. is the global leader in logistics real estate with a focus on high-barrier, high-growth markets. As of December 31, 2020, the company owned or had investments in, on a wholly owned basis or through co-investment ventures, properties and development projects expected to total approximately 984 million square feet (91 million square meters) in 19 countries.

243 USD

PLD

Undervalued 114.40%

STAG Industrial, Inc. (NYSE: STAG) is a real estate investment trust focused on the acquisition and operation of single-tenant, industrial properties throughout the United States.

27.1 USD

STAG

Overvalued 25.11%

Extra Space Storage Inc., headquartered in Salt Lake City, Utah, is a self-administered and self-managed REIT and a member of the S&P 500.

198 USD

EXR

Undervalued 20.44%

Rexford Industrial, a real estate investment trust focused on owning and operating industrial properties throughout Southern California infill markets, owns 232 properties with approximately 27.9 million rentable square feet and manages an additional 20 properties with approximately 1.0 million rentable square feet.

88.9 USD

REXR

Undervalued 111.51%

Innovative Industrial Properties, Inc. is a self-advised Maryland corporation focused on the acquisition, ownership and management of specialized properties leased to experienced, state-licensed operators for their regulated medical-use cannabis facilities.

94.6 USD

IIPR

Overvalued 7.42%

EastGroup Properties, Inc. (NYSE: EGP), an S&P MidCap 400 company, is a self-administered equity real estate investment trust focused on the development, acquisition and operation of industrial properties in major Sunbelt markets throughout the United States with an emphasis in the states of Florida, Texas, Arizona, California and North Carolina.

227 USD

EGP

Undervalued 32.08%

Americold is the world's largest publicly traded REIT focused on the ownership, operation, acquisition and development of temperature-controlled warehouses. Based in Atlanta, Georgia, Americold owns and operates 185 temperature-controlled warehouses, with over 1 billion refrigerated cubic feet of storage, in the United States, Australia, New Zealand, Canada, and Argentina.

-19.6 USD

COLD

Overvalued 189.96%

6. Ownership

Insider Ownership Public Storage

Summary
Transactions

Sold

0-3 MONTHS

136 K USD 1

3-6 MONTHS

110 K USD 1

6-9 MONTHS

0 USD 0

9-12 MONTHS

32.3 M USD 4

Bought

0 USD 0

0-3 MONTHS

0 USD 0

3-6 MONTHS

599 K USD 1

6-9 MONTHS

0 USD 0

9-12 MONTHS

Date	Value	Insider	Amount	Avg Price
2 months ago Aug 23, 2024	Sell 136 K USD	Vitan Nathaniel A. Chief Legal Officer	- 400	339.9461 USD
5 months ago Jun 10, 2024	Sell 110 K USD	Vitan Nathaniel A. Chief Legal Officer	- 400	274.285 USD
6 months ago May 14, 2024	Bought 599 K USD	Pipes Kristy Director	+ 2149	278.96 USD
11 months ago Dec 13, 2023	Sell 74.8 K USD	Vitan Nathaniel A. Chief Legal Officer	- 265	282.17 USD
11 months ago Dec 12, 2023	Sell 9.16 M USD	REYES JOHN Director	- 33581	272.82 USD
11 months ago Dec 12, 2023	Sell 5.38 M USD	REYES JOHN Director	- 19694	273.23 USD
11 months ago Dec 11, 2023	Sell 3.49 M USD	REYES JOHN Director	- 12666	275.46 USD
11 months ago Dec 11, 2023	Sell 9.99 M USD	REYES JOHN Director	- 36173	276.13 USD
11 months ago Dec 11, 2023	Sell 322 K USD	REYES JOHN Director	- 1161	276.97 USD
11 months ago Nov 30, 2023	Sell 2.58 M USD	HAVNER RONALD L JR Director	- 10000	258.0933 USD
11 months ago Nov 20, 2023	Sell 1.3 M USD	POLADIAN AVEDICK BARUYR Director	- 5000	259.3454 USD
1 year ago Nov 10, 2023	Sell 98.1 K USD	Vitan Nathaniel A. Chief Legal Officer	- 400	245.365 USD
1 year ago Dec 12, 2022	Bought 744 K USD	RUSSELL JOSEPH D JR President and CEO	+ 2500	297.6548 USD
2 years ago Aug 19, 2022	Sell 51.9 K USD	GUSTAVSON TAMARA HUGHES director, 10 percent owner:	- 148.14	350.64 USD
2 years ago Aug 19, 2022	Sell 174 K USD	GUSTAVSON TAMARA HUGHES director, 10 percent owner:	- 494.63	351.45 USD
2 years ago Aug 19, 2022	Sell 163 K USD	GUSTAVSON TAMARA HUGHES director, 10 percent owner:	- 462.47	352.6 USD
2 years ago Aug 19, 2022	Sell 43.1 K USD	GUSTAVSON TAMARA HUGHES director, 10 percent owner:	- 122.17	353.15 USD
2 years ago Aug 22, 2022	Sell 7.23 K USD	GUSTAVSON TAMARA HUGHES director, 10 percent owner:	- 20.9	346.04 USD
2 years ago Aug 22, 2022	Sell 4.86 K USD	GUSTAVSON TAMARA HUGHES director, 10 percent owner:	- 14	347 USD
2 years ago Aug 22, 2022	Sell 28.4 K USD	GUSTAVSON TAMARA HUGHES director, 10 percent owner:	- 81.59	348.17 USD
2 years ago Aug 22, 2022	Sell 21.8 K USD	GUSTAVSON TAMARA HUGHES director, 10 percent owner:	- 62.51	348.85 USD
2 years ago Aug 19, 2022	Sell 8.26 K USD	GUSTAVSON TAMARA HUGHES director:	- 23.59	350 USD
2 years ago Aug 16, 2022	Sell 14 K USD	GUSTAVSON TAMARA HUGHES director, 10 percent owner:	- 39.9	351.77 USD
2 years ago Aug 16, 2022	Sell 140 K USD	GUSTAVSON TAMARA HUGHES director, 10 percent owner:	- 398.32	352.69 USD
2 years ago Aug 16, 2022	Sell 90.8 K USD	GUSTAVSON TAMARA HUGHES director, 10 percent owner:	- 256.72	353.56 USD
2 years ago Aug 16, 2022	Sell 101 K USD	GUSTAVSON TAMARA HUGHES director, 10 percent owner:	- 284.73	354.58 USD
2 years ago Aug 16, 2022	Sell 17.9 K USD	GUSTAVSON TAMARA HUGHES director, 10 percent owner:	- 50.33	355.26 USD
2 years ago Aug 16, 2022	Sell 45.2 K USD	GUSTAVSON TAMARA HUGHES director:	- 129	350.31 USD
2 years ago Aug 17, 2022	Sell 15.9 K USD	GUSTAVSON TAMARA HUGHES director, 10 percent owner:	- 45.24	351.56 USD
2 years ago Aug 17, 2022	Sell 33.4 K USD	GUSTAVSON TAMARA HUGHES director, 10 percent owner:	- 94.76	352.51 USD
2 years ago Aug 17, 2022	Sell 47.1 K USD	GUSTAVSON TAMARA HUGHES director, 10 percent owner:	- 133.34	353.4 USD
2 years ago Aug 17, 2022	Sell 96.4 K USD	GUSTAVSON TAMARA HUGHES director, 10 percent owner:	- 271.76	354.56 USD
2 years ago Aug 17, 2022	Sell 62.9 K USD	GUSTAVSON TAMARA HUGHES director, 10 percent owner:	- 176.9	355.43 USD
2 years ago Aug 17, 2022	Sell 3.21 K USD	GUSTAVSON TAMARA HUGHES director, 10 percent owner:	- 9	356.15 USD
2 years ago Aug 18, 2022	Sell 29.8 K USD	GUSTAVSON TAMARA HUGHES director, 10 percent owner:	- 85	351.17 USD
2 years ago Aug 18, 2022	Sell 125 K USD	GUSTAVSON TAMARA HUGHES director, 10 percent owner:	- 354.28	352.26 USD
2 years ago Aug 18, 2022	Sell 69.6 K USD	GUSTAVSON TAMARA HUGHES director, 10 percent owner:	- 197.05	353.04 USD
2 years ago Aug 18, 2022	Sell 12.6 K USD	GUSTAVSON TAMARA HUGHES director, 10 percent owner:	- 35.64	354.01 USD
2 years ago Aug 18, 2022	Sell 25.5 K USD	GUSTAVSON TAMARA HUGHES director, 10 percent owner:	- 71.87	355.25 USD
2 years ago Aug 18, 2022	Sell 20.1 K USD	GUSTAVSON TAMARA HUGHES director, 10 percent owner:	- 56.5	356.06 USD
2 years ago Aug 18, 2022	Sell 10.6 K USD	GUSTAVSON TAMARA HUGHES director, 10 percent owner:	- 29.66	356.98 USD
2 years ago Aug 16, 2022	Sell 4.52 M USD	REYES JOHN Director	- 12845	351.91 USD
2 years ago Aug 16, 2022	Sell 7.44 M USD	REYES JOHN Director	- 21079	352.76 USD
2 years ago Aug 16, 2022	Sell 2.21 M USD	REYES JOHN Director	- 6248	353.72 USD
2 years ago Aug 16, 2022	Sell 2.68 M USD	REYES JOHN Director	- 7553	354.72 USD
2 years ago Aug 16, 2022	Sell 1.39 M USD	REYES JOHN director:	- 3912	355.35 USD
2 years ago Mar 15, 2022	Sell 857 K USD	Owen Rebecca L Director	- 2397	357.51 USD
2 years ago Mar 15, 2022	Sell 848 K USD	Owen Rebecca L director:	- 2364	358.83 USD
2 years ago Mar 15, 2022	Sell 86 K USD	Owen Rebecca L Director	- 239	359.88 USD
2 years ago Dec 15, 2021	Sell 3.28 M USD	STONE HEISZ LESLIE Director	- 9045	362.26 USD
2 years ago Dec 06, 2021	Sell 8.48 M USD	Vitan Nathaniel A. Sr. VP, Ch. Legal Off., Sec.	- 25000	339.18 USD
3 years ago Aug 23, 2021	Sell 16.1 M USD	REYES JOHN Director	- 50000	321.97 USD
3 years ago Aug 20, 2021	Sell 1.28 M USD	STONE HEISZ LESLIE Director	- 3957	323.7 USD
3 years ago Aug 12, 2021	Sell 152 K USD	Vitan Nathaniel A. Chief Legal Officer	- 483	314.07 USD
3 years ago Jun 08, 2021	Sell 1.17 M USD	Vitan Nathaniel A. Sr. VP, Ch. Legal Off., Sec.	- 4000	293.1 USD

7. News

The Trump Dip - Here's What I'm Buying To Improve My Dividend Portfolio My portfolio gained significantly post-election, driven by industrial and energy stocks, while REITs and tariff-prone companies faced pressure from rising rates and trade uncertainties. I see value in stocks like Canadian Pacific and select REITs, which were sold off prematurely due to investor overreaction. Regardless of political changes, my focus remains on building a resilient portfolio with reliable income through value investments and all-weather stocks. seekingalpha.com - 1 week ago

Public Storage Q3 FFO Misses Estimates, Occupancy Falls Public Storage's Q3 results reflect lower realized annual rent per occupied square foot and a decline in occupancy. zacks.com - 2 weeks ago

Here's What Key Metrics Tell Us About Public Storage (PSA) Q3 Earnings Although the revenue and EPS for Public Storage (PSA) give a sense of how its business performed in the quarter ended September 2024, it might be worth considering how some key metrics compare with Wall Street estimates and the year-ago numbers. zacks.com - 2 weeks ago

Public Storage (PSA) Misses Q3 FFO Estimates Public Storage (PSA) came out with quarterly funds from operations (FFO) of $4.20 per share, missing the Zacks Consensus Estimate of $4.25 per share. This compares to FFO of $4.33 per share a year ago. zacks.com - 2 weeks ago

Ahead of Public Storage (PSA) Q3 Earnings: Get Ready With Wall Street Estimates for Key Metrics Besides Wall Street's top -and-bottom-line estimates for Public Storage (PSA), review projections for some of its key metrics to gain a deeper understanding of how the company might have fared during the quarter ended September 2024. zacks.com - 3 weeks ago

Key Factors to Impact Public Storage Stock in Q3 Earnings PSA's Q3 results are likely to reflect gains from high brand value and solid presence in key cities, though low demand and high interest expenses remain concerns. zacks.com - 3 weeks ago

Public Storage Announces Hiring of Chris Sambar as Chief Operating Officer GLENDALE, Calif.--(BUSINESS WIRE)--Public Storage (NYSE:PSA; the “Company”) announced today that Chris Sambar has joined the Company as Chief Operating Officer. Mr. Sambar brings significant leadership experience to Public Storage. Most recently, he was President at AT&T Communications and led approximately 27,000 employees across network operations. Prior to this role, he served in various leadership positions, including sales, operations, and corporate strategy, since joining AT&T in. businesswire.com - 4 weeks ago

Public Storage to Release Third Quarter 2024 Earnings Results and Host Quarterly Conference Call GLENDALE, Calif.--(BUSINESS WIRE)--Public Storage (NYSE:PSA) announced today it intends to release its third quarter 2024 earnings results after the market close on Wednesday, October 30, 2024. A conference call is scheduled for Thursday, October 31, 2024, at 9:00 a.m. (PT) to discuss these results. Live conference call Domestic dial-in number: (877) 407-9039 International dial-in number: (201) 689-8470 Webcast: Event Calendar Conference call replay Domestic dial-in number: (844) 512-2921. businesswire.com - 1 month ago

Assessing The Impact Of Mortgage Rates On REITs Historically, REITs outperform the S&P 500 after rising interest rates, with recent data showing a 25% return from May to September 2024. Mortgage rates impact REITs differently, with lower rates boosting rental demand for multifamily and SFR REITs, but potentially increasing home prices. The "lock-in effect" limits home sales, benefiting multifamily and SFR REITs by driving rental demand, while self-storage REITs await increased home sales. seekingalpha.com - 1 month ago

Why You Should Retain Public Storage Stock in Your Portfolio Now PSA is poised to gain from high brand value, strategic acquisitions and a robust presence in key cities, though soft demand and development boom are concerns. zacks.com - 1 month ago

3 Dividend Giants I'm Holding On To For Dear Life I considered selling several stocks to consolidate my portfolio, but ultimately decided to keep them. Each investment still aligns with my long-term strategy. While not all of them are particularly cheap, they offer strong fundamentals and growth potential, making them worth holding despite their current valuations. I'm sticking to my “never sell” approach for now, focusing on adding to these positions on weakness, as I expect them to outperform the market over time. seekingalpha.com - 1 month ago

2 REITs With Huge Upside Potential REITs remain extremely cheap, even following the recent rally. This is especially true for more speculative REITs. I highlight 2 REITs that could triple. seekingalpha.com - 1 month ago

8. Profile Summary

Public Storage PSA

COUNTRY US

INDUSTRY REIT - Industrial

MARKET CAP $ 58.7 B

Dividend Yield 0.90%

Description Public Storage, a member of the S&P 500 and FT Global 500, is a REIT that primarily acquires, develops, owns and operates self-storage facilities. At September 30, 2020, we had: (i) interests in 2,504 self-storage facilities located in 38 states with approximately 171 million net rentable square feet in the United States, (ii) an approximate 35% common equity interest in Shurgard Self Storage SA (Euronext Brussels:SHUR) which owned 239 self-storage facilities located in seven Western European nations with approximately 13 million net rentable square feet operated under the "Shurgard" brand and (iii) an approximate 42% common equity interest in PS Business Parks, Inc. (NYSE:PSB) which owned and operated approximately 28 million rentable square feet of commercial space at September 30, 2020. Our headquarters are located in Glendale, California.

Contact 701 Western Avenue, Glendale, CA, 91201 https://www.publicstorage.com

IPO Date Nov. 18, 1980

Employees 6200

Officers Mr. H. Thomas Boyle III Senior Vice President, Chief Investment Officer & Chief Financial Officer Mr. Nathaniel A. Vitan Senior Vice President, Chief Legal Officer & Corporate Secretary Mr. Ryan C. Burke Vice President of Investor Relations Nicholas J. Kangas Executive Vice President of Finance & Accounting Nathan A. Tan Senior Vice President of Human Resources Mr. Michael Braine Chief Technology Officer Mr. Joseph D. Russell Jr. Chief Executive Officer, President & Trustee Ms. Natalia N. Johnson Senior Vice President & Chief Administrative Officer Kenneth Q. Volk Jr. Founder Rear Admiral Christopher Sambar Chief Operationg Officer

Price Chart PSA

Public Storage PSA

Premium Plan

Unlimited Plan