Public Storage
Public Storage (PSA) is listed on NYSE and classified in REIT - Industrial, part of the Real Estate sector. It is headquartered in Frisco, United States and has 5,770 employees. The company is worth $57.76B and trades at 28.5x its earnings of the last twelve months; the median for its sector is 22.1x. Revenue was $4.82B in fiscal 2025, up 2.7% from the year before. Net income was $1.78B. The share price is 7.9% below its 52-week high of $335.55. It pays a dividend yielding 3.88%. 4 of the 38 superinvestors we track held it at the end of Q2 2026. The largest position belongs to Israel Englander (Millennium Management), at $31.21M. In that quarter, 1 of them opened or added to the position and 3 reduced it. No open-market insider trades in it were filed over the last 30 days.
Written from the data on this page: SEC filings (13F, Form 4, annual reports) and market prices.
Year by year, from the annual reports; dividends from the payments themselves.
Bars are year-end balances; lines are what happened during the year.
Major managers that reported this stock in their latest 13F.
▼ -8.9% over 5Y.
today you would have $1,122.35▲ +12.2%
Dividends reinvested, splits accounted for. Past prices say what happened, not what will.
The last 19 closed years, each at that year’s closing price and reported numbers.
| Indicator | Median | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 | 2013 | 2012 | 2011 | 2010 | 2009 | 2008 | 2007 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Year-end price | $259.50 | $299.44 | $305.00 | $280.19 | $374.56 | $230.93 | $212.96 | $202.41 | $209.00 | $223.50 | $247.70 | $184.85 | $150.52 | $144.96 | $134.46 | $101.42 | $81.45 |
Seven formulas applied to the reported numbers, each with its assumption next to the result. None of them predicts a price.
Square root of 22.5 × earnings × book value. Blind to intangibles, so it undervalues software and brands.
Earnings growing 7.5% a year plus a 3.9% dividend yield. Growth capped at 25%.
Median P/E of 22.1 among peers in the sector.
Median P/E of 30.9 across this company’s own years on record.
This formula has no meaning here — usually a loss, negative cash flow, or a missing input.
This formula has no meaning here — usually a loss, negative cash flow, or a missing input.
Companies of similar size in Real Estate, for comparison. The columns are the same ones above, in the same order.
| Stock | Price | P/E | P/B | Dividend yield | ROE | Market cap |
|---|---|---|---|---|---|---|
| ORealty Income Corp | $57.06 | 41.3x | 1.4x | 5.71% | 3.23% | $53.99B |
| DLRDigital Realty Trust Inc | $170.94 | 85.5x | 2.4x | 2.85% | 2.91% | $64.56B |
| VMRKVivmark Residential | $63.57 | 24.4x | — | 4.42% | 8.49% | $49.19B |
| VTRVentas, Inc. | $86.99 |
| $79.50 |
| $73.41 |
| P/E | 30.9x | 28.8x | 28.1x | 27.6x | 11.9x | 37.9x | 36.7x | 29.2x | 23.7x | 31.1x | 32.8x | 40.8x | 35.2x | 30.8x | 37.2x | 40.9x | 43.2x | 23.5x | 19.0x | — |
| P/S | 13.0x | 9.4x | 11.2x | 11.9x | 11.8x | 19.2x | 13.9x | 13.0x | 12.8x | 13.6x | 15.2x | 18.0x | 14.7x | 13.2x | 13.5x | 13.3x | 10.7x | 8.5x | 7.8x | 7.0x |
| P/B | 4.1x | 4.9x | 5.4x | 5.4x | 4.9x | 7.0x | 4.7x | 4.1x | 3.9x | 4.1x | 4.1x | 4.7x | 3.4x | 2.9x | 3.1x | 2.8x | 2.0x | 1.5x | 1.5x | 1.3x |
| EPS | $9.01 | $10.64 | $11.06 | $23.50 | $9.87 | $6.29 | $7.29 | $8.54 | $6.73 | $6.81 | $6.07 | $5.25 | $4.89 | $3.90 | $3.29 | $2.35 | $3.47 | $4.18 | -$0.01 |
| Dividend yield | 3.42% | 4.62% | 4.01% | 3.93% | 7.55% | 2.14% | 3.46% | 3.76% | 3.95% | 3.83% | 3.27% | 2.62% | 3.03% | 3.42% | 3.04% | 2.71% | 3.01% | 2.70% | 3.52% | 2.72% |
| Payout | 107.85% | 133.19% | 112.78% | 108.50% | 90.00% | 81.05% | 127.19% | 109.74% | 93.68% | 118.87% | 107.20% | 107.08% | 106.67% | 105.32% | 112.82% | 110.94% | 129.79% | 63.40% | 66.99% | — |
| Profit margin | 52.55% | 36.99% | 44.13% | 47.55% | 103.99% | 57.18% | 46.56% | 53.26% | 62.00% | 54.05% | 56.77% | 55.06% | 52.55% | 53.56% | 50.98% | 47.46% | 41.64% | 51.43% | 54.36% | 25.60% |
| ROE | 15.44% | 19.29% | 21.33% | 21.45% | 43.17% | 20.92% | 15.86% | 16.78% | 18.76% | 16.13% | 15.44% | 14.30% | 12.07% | 11.97% | 11.60% | 9.94% | 7.75% | 9.35% | 10.74% | 4.94% |
Median of the years shown; P/E years above 200x are left out.
Dividend growing 7.1% a year against a 8.6% required return, from the stock’s beta.
The average of the method families that answered, not of the seven numbers: four of the seven start from the same earnings per share.
5 methods answered, across 2 families.
Room for errors in the reported numbers.
+70.2% from the average.
Models, not forecasts, and not investment advice. How each formula works →
| 161.1x |
| 3.0x |
| 2.39% |
| 2.01% |
| $44.62B |
| SPGSimon Property Group Inc | $212.04 | 14.5x | 15.6x | 4.20% | 120.51% | $80.5B |
| AMTAmerican Tower Corp | $181.57 | 24.4x | 22.7x | 3.94% | 33.91% | $84.6B |