Public Storage (PSA)
Real Estate · Self-storage real estate investment and operations
The largest publicly traded self-storage operator in the U.S., generating $4.9 billion in annual revenues from a portfolio of highly leveraged real estate assets with a 39% net margin.
What Public Storage does
Public Storage owns and operates self-storage facilities across the United States and internationally through its investment in Shurgard. The company generates revenue from rental of storage units to residential and commercial customers, as well as from ancillary operations including sales of packing supplies, insurance, and other services. As of March 31, 2026, the company owned net real estate facilities valued at $18.7 billion and maintained a highly profitable operating model with strong cash generation from its self-storage business.
Themes: ["Self-storage real estate","Property management and operations","Residential storage demand","Commercial storage solutions","Real estate capital deployment","Facility acquisitions and development"]
Fundamentals
- Price$319.35 as of 2026-07-09 close
- Market cap$56.1B as of 2026-07-10
- 1-year return+10.5% as of 2026-07-09 close
- P/E29.47 as of 2026-07-10
- Net margin+39.2% as of 2026-07-10
- Gross margin+72.9% as of 2026-07-10
- ROE+20.5% as of 2026-07-10
- Debt / equity1.09 as of 2026-07-10
- Revenue growth (YoY)+2.9% as of 2026-07-10
- Revenue CAGR (3y)+4.9% SEC XBRL
- Beta0.95 as of 2026-07-10
Dividend: yield +3.8%; 3-year non-decreasing per-share dividend streak (SEC XBRL).
Key risks (from latest filing)
["Natural disasters, terrorist attacks, and civil unrest could damage facilities and disrupt operations; insurance may not cover all losses as the company self-insures a portion of risks","Rising operating costs including property taxes, labor, utilities, and insurance premiums, with particular exposure to California property tax increases","Intense local and regional competition from other self-storage operators and alternative storage solutions, affecting occupancy rates and rental pricing power"]
Fundamentals: Finnhub, as of 2026-07-10. Filings: SEC EDGAR. Prices are delayed daily-close data.
Last updated 2026-07-09.
Informational only — NOT financial advice. All figures are delayed daily-close data from SEC EDGAR & Finnhub, shown with their as-of date.