Public Storage (PSA) Stock

Public Storage (PSA) is a Real Estate stock trading at $322.47 (as of 2026-08-21), with a market capitalization of $56.63B and a trailing P/E of 27.7. Figures are sourced from first-party U.S. SEC EDGAR filings and market data.

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.

Understand Public Storage: how it makes money

Public Storage (PSA) is a REIT that acquires, develops, owns, and operates self-storage facilities, earning revenue primarily from operating and renting those storage units.

The profit engine is the performance of owned and operated self-storage, especially same store facility revenue trends, since PSA operates a large in-place portfolio and tracks same store revenue changes.

Business quality (Solid): Clear business model as a self-storage REIT with meaningful operating scale in the United States, plus a minority interest in Shurgard in Western Europe, but the provided data does not include a full segment breakdown, and the only operational signals shown here focus on same store revenue trends.

Valuation: At 34× earnings, PSA trades in line with the Trading average (34×). Note: one-time items can distort reported P/E.

Bull case

Large operating footprint in self-storage: As of September 30, 2020, PSA reported interests in 2,504 self-storage facilities in 38 states, totaling approximately 171 million net rentable square feet in the United States.
Adds international exposure through Shurgard: PSA also reported an approximate 35% common equity interest in Shurgard Self Storage SA, which owned 239 facilities in seven Western European nations, totaling approximately 13 million net rentable square feet, operating under the Shurgard brand.

Bear case

Potential pressure in same store revenue: The provided operational metrics indicate same store facilities revenues are declining versus the same period prior year, which can signal weaker performance in the existing portfolio.

Valuation — source: SEC EDGAR (first-party)
Price	$322.47
Market Cap	$56.63B
P/E Ratio	27.7
EV / EBITDA	21.3
Price / Book	6.10
Price / Sales	11.58
DCF Value (model)	$401.15
DCF Upside vs Price	24.4%

Profitability & Growth — source: SEC EDGAR
Revenue (TTM)	$4.82B
Net Margin	37.0%
Revenue Growth (YoY)	2.6%
EPS Growth (YoY)	45.5%

Valuation vs Sector & Industry
Stock P/E	27.7
Sector P/E (Real Estate)	27.2
Industry P/E (Trading)	35.3
vs Sector	1.9%
vs Industry	-21.6%

Smart-Money Activity — SEC Form 4 / 13F / Congressional disclosures
Top Institutional Holder	VANGUARD GROUP INC ($6.58B)
Institutional Holders Tracked	10
Congressional Trades (recent)	9

Company
Sector	Real Estate
Industry	Trading
CEO	H. Thomas Boyle
Employees	5,900
Country	US
IPO Date	1980-11-18

Related Companies (Business model: Equity REIT (Real Estate Investment Trust); 8 closest by market cap; US-domiciled)

Data as of 2026-08-21.

Figures sourced from U.S. Securities and Exchange Commission (SEC EDGAR) filings and market data. Not personalized investment advice.