Public Storage (PSA) AI Stock Analysis

• Market Cap: $50.49B
• Dividend Yield: 4.63%
• Average Volume (3M): 1.14M
• Price to Earnings (P/E): 29.9
• Beta (1Y): 0.42
• Revenue Growth: 2.30%
• EPS Growth: -0.22%
• Country: US
• Employees: 5,900
• Sector: Real Estate
• Sector Strength: 53
• Industry: REIT - Industrial
• EPS (TTM): 2.62
• Shares Outstanding: 175,463,010
• 10 Day Avg. Volume: 999,502
• 30 Day Avg. Volume: 1,141,215
• PEG Ratio: -6.55
• Price to Book (P/B): 5.41
• Price to Sales (P/S): 11.18
• P/FCF Ratio: 19.39
• Enterprise Value/Market Cap: 1.29
• Enterprise Value/Revenue: 13.58
• Enterprise Value/Gross Profit: 18.60
• Enterprise Value/Ebitda: 19.44
• 1Y Price Target: $308.73
• Price Target Upside: 7.28% Upside
• Rating Consensus: Moderate Buy
• Number of Analyst Covering: 13
• EPS Forecast (FY): N/A
• Revenue Forecast (FY): N/A

• Rating: 73 Outperform
• Price Target: $303.00 ▲(5.29% Upside)

Public Storage's overall stock score is driven by strong financial performance and positive earnings call sentiment, highlighting robust revenue growth and strategic initiatives. However, technical analysis indicates a bearish trend, and valuation suggests moderate pricing. The company's ability to manage leverage and navigate market challenges will be crucial for future performance.

Positive Factors

Digital and AI Integration

The integration of digital and AI technologies enhances operational efficiency, reduces costs, and improves customer service, which can lead to sustained competitive advantages and increased profitability over time.

Strong Acquisition Pipeline

A robust acquisition and development pipeline supports long-term growth and market expansion, enabling Public Storage to increase its market share and revenue potential.

Cash Flow Management

Efficient cash flow management ensures financial stability and flexibility, allowing the company to invest in growth opportunities and manage debt effectively, supporting long-term sustainability.

Negative Factors

Lower Occupancy Rates

Declining occupancy and move-in rates can negatively impact revenue growth and profitability, posing a challenge to maintaining market position and financial performance.

Increased Leverage

Higher leverage increases financial risk, especially if interest rates rise, potentially affecting the company's ability to invest in growth and maintain financial health.

Market Restrictions

Regulatory restrictions in key markets can limit revenue growth and operational flexibility, affecting the company's ability to capitalize on market opportunities.

Public Storage Business Overview & Revenue Model

Company 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.

How the Company Makes Money

Public Storage primarily generates revenue through rental income from its self-storage facilities. Customers pay monthly fees for the use of storage units, which vary in price depending on the size, location, and features of the units. The company also earns income from the sale of packing supplies, such as boxes and locks, and offers additional services like insurance for stored belongings. Public Storage benefits from high occupancy rates and the ability to adjust rental rates based on market demand. Furthermore, strategic partnerships with real estate firms and participation in the broader real estate investment market contribute to its financial stability. The company also leverages technology to optimize pricing and improve customer experience, which supports its revenue growth.

Public Storage Financial Statement Overview

Summary

Public Storage exhibits strong financial health with robust revenue growth and profitability. While leverage has increased, the company maintains effective cash flow management, supporting its operational and financial stability. Continued focus on managing debt levels will be crucial to sustain its financial strength.

Income Statement

Public Storage shows strong profitability with a consistent gross profit margin around 73% and a net profit margin of 38% in TTM. However, the net profit margin has decreased from previous years, indicating potential challenges in maintaining profitability. Revenue growth has been robust, especially in TTM, indicating strong demand and operational efficiency.

Balance Sheet

The company's debt-to-equity ratio has increased to 1.11 in TTM, reflecting higher leverage, which could pose risks if interest rates rise. However, the return on equity remains healthy at 18.93%, suggesting effective use of equity to generate profits. The equity ratio is stable, indicating a balanced capital structure.

Cash Flow

Public Storage demonstrates strong cash flow management with a high operating cash flow to net income ratio of 5.03 in TTM, indicating efficient cash generation. Free cash flow growth is positive, supporting future investments and debt servicing. The free cash flow to net income ratio is also strong, underscoring robust cash profitability.

Breakdown	TTM	Dec 2024	Dec 2023	Dec 2022	Dec 2021	Dec 2020
Income Statement
Total Revenue	4.79B	4.70B	4.52B	4.18B	3.42B	2.92B
Gross Profit	3.49B	3.44B	3.37B	3.13B	2.50B	2.05B
EBITDA	3.34B	3.51B	3.34B	5.41B	2.78B	1.97B
Net Income	1.89B	2.07B	2.15B	4.35B	1.95B	1.36B
Balance Sheet
Total Assets	20.11B	19.75B	19.81B	17.55B	17.38B	11.82B
Cash, Cash Equivalents and Short-Term Investments	296.46M	447.42M	370.00M	775.25M	734.60M	257.56M
Total Debt	10.04B	9.35B	9.10B	6.87B	7.48B	2.54B
Total Liabilities	10.71B	9.94B	9.70B	7.39B	7.96B	3.24B
Stockholders Equity	9.31B	9.71B	10.01B	10.07B	9.34B	8.56B
Cash Flow
Free Cash Flow	3.12B	2.71B	2.79B	2.66B	2.27B	1.87B
Operating Cash Flow	3.22B	3.13B	3.25B	3.12B	2.54B	2.04B
Investing Cash Flow	-1.73B	-1.00B	-3.54B	1.12B	-5.56B	-1.12B
Financing Cash Flow	-1.79B	-2.08B	-112.93M	-4.19B	3.50B	-1.08B

Public Storage Technical Analysis

• Technical Analysis Sentiment: Positive
• Last Price: 287.77
• 50DMA: Positive
• 100DMA: Positive
• 200DMA: Positive
• MACD: Negative
• RSI: Neutral
• STOCH: Negative

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For PSA, the sentiment is Positive. The current price of 287.77 is above the 20-day moving average (MA) of 266.51, above the 50-day MA of 268.60, and above the 200-day MA of 281.64, indicating a bullish trend. The MACD of 3.06 indicates Negative momentum. The RSI at 69.88 is Neutral, neither overbought nor oversold. The STOCH value of 93.13 is Negative, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for PSA.

Public Storage Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
PSA	73 Outperform	$50.49B	29.90	20.00%	4.63%	2.30%	-0.22%
CUBE	69 Neutral	$8.87B	24.83	12.82%	5.69%	4.19%	-12.19%
IIPR	69 Neutral	$1.42B	11.97	6.49%	13.07%	-11.22%	-24.64%
EXR	68 Neutral	$32.07B	32.36	6.86%	5.01%	3.38%	17.16%
SELF	67 Neutral	$57.94M	32.67	3.70%	5.63%	3.36%	-43.55%
Sector *	65 Neutral	$2.17B	12.19	3.79%	4.94%	3.15%	1.96%
NSA	61 Neutral	$4.40B	53.19	6.89%	8.28%	-4.98%	-65.45%

Public Storage Corporate Events

Public Storage issues mixed 2025 operating update

On January 7, 2026, Public Storage released an investor presentation containing an operating update for the three months and year ended December 31, 2025, showing a mixed performance across its same-store portfolio. For 2025, the company reported modestly higher occupancy of 91.0% at year-end, up 0.5 percentage points from 2024, but experienced declines in average annual contract rent per square foot for tenants moving in and those in place, along with reduced contract rents gained from move-ins and contract rents lost from move-outs. Promotional discounts granted to new tenants declined both in the fourth quarter and for the full year, suggesting some easing of incentive levels even as pricing metrics softened. Strategically, Public Storage expanded its footprint during 2025 by acquiring 87 self-storage facilities totaling 6.1 million net rentable square feet for $942.2 million, underscoring continued growth through acquisitions despite pressure on same-store rent metrics.

The most recent analyst rating on (PSA) stock is a Hold with a $301.00 price target. To see the full list of analyst forecasts on Public Storage stock, see the PSA Stock Forecast page.

Public Storage Reports November 2025 Operating Update

On December 8, 2025, Public Storage announced an operating update for the periods ending November 30, 2025, highlighting a decrease in average annual contract rent per square foot for tenants moving in, alongside a slight increase in square footage. The company also reported acquiring or being under contract to acquire 88 self-storage facilities for $949.4 million in 2025, reflecting its strategic expansion efforts.

The most recent analyst rating on (PSA) stock is a Buy with a $303.00 price target. To see the full list of analyst forecasts on Public Storage stock, see the PSA Stock Forecast page.