Public Storage (PSA) AI Stock Analysis

• Market Cap: $53.03B
• Dividend Yield: 4%
• Average Volume (3M): 934.80K
• Price to Earnings (P/E): 33.0
• Beta (1Y): 0.51
• Revenue Growth: 2.49%
• EPS Growth: -14.10%
• Country: US
• Employees: 5,900
• Sector: Real Estate
• Sector Strength: 53
• Industry: REIT - Industrial
• EPS (TTM): 1.76
• Shares Outstanding: 175,452,850
• 10 Day Avg. Volume: 1,068,469
• 30 Day Avg. Volume: 934,801
• PEG Ratio: N/A
• Price to Book (P/B): N/A
• Price to Sales (P/S): N/A
• P/FCF Ratio: N/A
• Enterprise Value/Market Cap: 1.23
• Enterprise Value/Revenue: 13.77
• Enterprise Value/Gross Profit: 18.90
• Enterprise Value/Ebitda: 20.15
• 1Y Price Target: $322.67
• Price Target Upside: 7.43% Upside
• Rating Consensus: Moderate Buy
• Number of Analyst Covering: 16

• Rating: 76 Outperform
• Price Target: $324.00 ▲(7.88% Upside)

Public Storage's strong financial performance and positive earnings call sentiment are the most significant factors contributing to its overall score. The company's robust revenue growth, profitability, and strategic expansion efforts are noteworthy. However, technical analysis presents mixed signals, and the high P/E ratio suggests potential overvaluation, which slightly tempers the overall score.

Positive Factors

Revenue Growth

Consistent revenue growth indicates strong demand for storage solutions and effective market penetration, supporting long-term business sustainability.

International Expansion

International expansion into Europe and potential new markets like Australia and New Zealand diversifies revenue streams and reduces dependency on domestic markets.

Strong Cash Flow

Strong free cash flow growth enhances the company's ability to invest in new projects, reduce debt, and return value to shareholders, ensuring long-term financial health.

Negative Factors

Increased Leverage

Rising leverage can strain financial flexibility and increase risk, potentially impacting the company's ability to manage economic downturns effectively.

Los Angeles Market Challenges

Pricing restrictions in key markets like Los Angeles can hinder revenue growth and profitability, affecting the company's overall performance in the region.

Decline in Move-In Rents

A decline in move-in rents could signal weakening demand or increased competition, impacting revenue growth and market share over time.

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 the rental of storage units to customers. The company charges monthly fees based on the size and location of the storage units, with pricing structures that vary according to market demand and competition. Additionally, Public Storage earns revenue from ancillary services such as the sale of packing supplies (boxes, tape, etc.), insurance for stored items, and administrative fees. The company also benefits from operational efficiencies and economies of scale, as it manages a large portfolio of facilities. Seasonal demand fluctuations, local market conditions, and effective marketing strategies play significant roles in shaping its revenue streams.

Public Storage Financial Statement Overview

Summary

Public Storage demonstrates strong financial health with consistent revenue and profitability growth, robust operational performance, and effective cash flow generation. However, there are minor concerns about increased financial leverage.

Income Statement

Public Storage has demonstrated strong income statement performance. The company has experienced consistent revenue growth with a noticeable increase from 2021 to TTM 2025. Gross profit and net profit margins are robust, indicating efficient cost management and profitability. The EBIT and EBITDA margins are healthy, reflecting strong operational performance.

Balance Sheet

The balance sheet of Public Storage shows a solid financial position. The equity ratio is satisfactory, indicating a good proportion of equity financing. However, the debt-to-equity ratio has increased over time, which presents some financial leverage risks. The return on equity remains strong, indicating efficient use of shareholders' funds.

Cash Flow

Public Storage's cash flow statement shows a positive trend in free cash flow growth, supporting the company's ability to invest and return value to shareholders. The operating cash flow to net income ratio is stable, indicating strong cash generation relative to net income. However, the fluctuations in investing and financing cash flows suggest some volatility in cash management strategies.

Breakdown	TTM	Dec 2024	Dec 2023	Dec 2022	Dec 2021	Dec 2020
Income Statement
Total Revenue	4.75B	4.70B	4.52B	4.18B	3.42B	2.92B
Gross Profit	3.46B	3.44B	3.37B	3.13B	2.50B	2.05B
EBITDA	3.25B	3.51B	3.34B	5.41B	2.78B	1.97B
Net Income	1.81B	2.07B	2.15B	4.35B	1.95B	1.36B
Balance Sheet
Total Assets	20.54B	19.75B	19.81B	17.55B	17.38B	11.82B
Cash, Cash Equivalents and Short-Term Investments	1.10B	447.42M	370.00M	775.25M	734.60M	257.56M
Total Debt	10.44B	9.35B	9.10B	6.87B	7.48B	2.54B
Total Liabilities	11.07B	9.94B	9.70B	7.39B	7.96B	3.24B
Stockholders Equity	9.37B	9.71B	10.01B	10.07B	9.34B	8.56B
Cash Flow
Free Cash Flow	2.82B	2.71B	2.79B	2.66B	2.27B	1.87B
Operating Cash Flow	3.15B	3.13B	3.25B	3.12B	2.54B	2.04B
Investing Cash Flow	-1.25B	-1.00B	-3.54B	1.12B	-5.56B	-1.12B
Financing Cash Flow	-1.36B	-2.08B	-112.93M	-4.19B	3.50B	-1.08B

Public Storage Technical Analysis

• Technical Analysis Sentiment: Positive
• Last Price: 300.34
• 50DMA: Positive
• 100DMA: Positive
• 200DMA: Positive
• MACD: Positive
• RSI: Neutral
• STOCH: Neutral

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 300.34 is above the 20-day moving average (MA) of 299.25, above the 50-day MA of 291.33, and above the 200-day MA of 289.67, indicating a bullish trend. The MACD of 4.76 indicates Positive momentum. The RSI at 53.43 is Neutral, neither overbought nor oversold. The STOCH value of 29.90 is Neutral, 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	―	$53.03B	32.98	18.98%	4.00%	2.49%	-14.10%
CUBE	―	$9.64B	25.63	13.43%	4.99%	3.14%	-8.01%
EXR	―	$33.30B	32.66	6.97%	4.33%	4.83%	18.94%
IIPR	―	$1.48B	11.42	7.04%	14.31%	-7.80%	-18.78%
Sector *	―	$2.17B	12.19	3.79%	4.94%	3.15%	1.96%
NSA	―	$4.27B	50.73	6.19%	7.27%	-7.33%	-66.93%
SELF	―	$56.69M	22.93	5.15%	5.78%	4.08%	11.03%

Public Storage Corporate Events

Public Storage Releases August 2025 Operating Update

On September 8, 2025, Public Storage released an operating update for the periods ending August 31, 2025, highlighting a decrease in average annual contract rent per square foot and contract rents gained from move-ins compared to the previous year. Despite these declines, the company has been active in expanding its footprint, acquiring or contracting to acquire 74 self-storage facilities with 5.1 million net rentable square feet for $811.0 million since the start of the year.

The most recent analyst rating on (PSA) stock is a Buy with a $345.00 price target. To see the full list of analyst forecasts on Public Storage stock, see the PSA Stock Forecast page.