Public Storage (PSA) AI Stock Analysis

Public Storage is a real estate investment trust that acquires, develops, owns, and operates self-storage facilities for residential and commercial customers. Headquartered in Glendale, California, the company held interests in 2,504 self-storage facilities across 38 states totaling approximately 171 million net rentable square feet as of September 30, 2020. Public Storage also maintains a 35% common equity interest in Shurgard Self Storage SA, which owns and operates 239 self-storage facilities across seven Western European countries comprising approximately 13 million net rentable square feet. Additionally, it holds an approximate 42% common equity interest in PS Business Parks, Inc., which operates about 28 million rentable square feet of commercial space.

Annual revenue rose from $3.42B in FY2021 to $4.82B in FY2025, reflecting a 5-year revenue CAGR of 10.6% from FY2020 to FY2025. Revenue growth moderated over this timeframe from 22.4% in FY2022 to 8.0% in FY2023, 3.9% in FY2024, and 2.7% in FY2025. Net income was $1.78B in FY2025, compared to $2.07B in FY2024 and $4.35B in FY2022. FY2025 operating margin stood at 46.7%, down from 49.9% in FY2021. Across the trailing twelve months ended June 30, 2026, revenue totaled $4.91B with a profit margin of 41.6% and an operating margin of 45.7%. In the latest quarter, quarterly revenue increased 3.3% year-over-year while quarterly earnings expanded 45.1%.

As of June 30, 2026, Public Storage held $259.9M in cash and short-term investments against total debt of $10.18B, resulting in net debt of $9.92B. Total assets stood at $20.12B and shareholders' equity was $9.19B, translating to a debt-to-equity ratio of 1.11 and a current ratio of 0.67. During FY2025, operating cash flow reached $3.19B and free cash flow was $2.90B. Capital expenditures totaled $289.4M, share issuance was $9.4M, and dividends paid amounted to $2.30B, while the 5-year share count change was 0.2%.

Trading at a last close of $298.31, Public Storage carries a market cap of $55.74B and an enterprise value of $68.40B. The stock trades at a trailing P/E of 28.5x and a forward P/E of 27.2x, below the median of its S&P 500 Real Estate peers of 30.6x and 30.4x, respectively. Its EV to EBITDA multiple is 19.3x compared to the peer median of 17.2x, and its price-to-sales ratio of 11.4x is above the peer median of 7.0x. Over the past year, Public Storage returned 1.3% compared to 16.8% for SPY, while its 5-year return of 16.7% lagged SPY's 83.0%.

Public Storage pays a quarterly dividend with an annual forward payout of $12.00 per share, representing a dividend yield of 4.02%. The company has paid dividends for 42 consecutive years and generated a 5-year annualized dividend growth rate of 8.4%. Its payout ratio is 101.2%, and its most recent ex-dividend date was September 15, 2026.

Analyst coverage consists of 4 Strong Buy, 2 Buy, and 16 Hold ratings, with 0 Sell and 0 Strong Sell ratings. The mean price target is $329.00, representing 10.3% upside above the last close of $298.31. For the current fiscal year ending December 31, 2026, consensus estimates project revenue of $5.10B and EPS of $9.77, reflecting an EPS decline of 4.5%. Public Storage beat EPS estimates in 3 of the last 4 quarters, and its next earnings date is October 26, 2026.

This page is an AI-written research summary of Public Storage (PSA). The text was generated on October 30, 2026 from Quotelinks data as of October 16, 2026 (company profile, annual results, latest balance sheet, valuation, price performance and analyst estimates). An automatic check rejects any draft that contains a figure not found in that data. It is not investment advice; verify figures on the linked tabs before making decisions.

Related: PSA income statement, PSA balance sheet, PSA key metrics, PSA analyst forecast, PSA chart. See the PSA stock overview for the latest quote and news.