TORVANTA
Real Estate · S&P 500 · data as of 2026-10-05

PSA stock analysis: Public Storage

Public Storage (PSA) is an S&P 500 company in Self-Storage REITs. It grades strongest on profitability and weakest on growth.

The model's view of PSA · subscribers

Where PSA ranks among the 1,500 U.S. stocks the model scores each trading day, its expected return, the evidence for and against it, and whether the model portfolio holds it. The grades below describe the company's data; they are not the model's view.

See plans
What's happening with PSA · updated 2026-10-05 · from prices and SEC filings

PSA price performance

PSA against the S&P 500, one year
-10%+0%+10%+20%S&P 500 +18%PSA +2%2025-09-292026-10-05
Year to date+11.8%S&P 500 +14.5% · behind by 2.7 pts
1 year-0.1%S&P 500 +17.0% · behind by 17.1 pts
3 years+22.8%S&P 500 +89.3% · behind by 66.5 pts
5 years+19.2%S&P 500 +91.3% · behind by 72.1 pts

Total returns with dividends reinvested.

PSA factor grades

Each grade compares PSA with the rest of its sector (A+ best, F worst); the numbers behind it are shown with the typical figure for its peers.

B-ValueP/E 26.9x (sector 32.1x)FCF yield 6.4% (sector 6.4%)
D+GrowthRevenue growth +3% (sector +6%)EPS growth +14% (sector +43%)
AProfitability
C+Momentum12-month change -0%From 52-wk high -14%

PSA in plain numbers

PSA key statistics

SectorReal Estate
IndustrySelf-Storage REITs
IndexS&P 500
Market value$49.5B
Revenue growth (y/y)+3%
Free-cash-flow yield6.4%
Dividend yield4.3%
Next earnings (expected)2026-10-28
Valuation measures
Market value$49.5B
Enterprise value$59.4B
P/E (trailing)26.9x
Forward P/E (Torvanta estimate)23.2x
PEG (Torvanta estimate)1.47
Price / sales10.1x
Price / book5.4x
EV / revenue12.1x
Financial highlights
Revenue, last 12 months$4.9B
Net income, last 12 months$2.0B
EPS, last 12 months (GAAP)$10.47
Net margin41.8%
Return on equity22.0%
Cash$259.9M
Total debt$10.2B
Debt / equity1.11x

Company figures from its latest SEC filings; market value and returns from end-of-day prices.

PSA earnings trends

Revenue vs earnings
$0$308.2M$616.4M$924.7M$1.2BSep 2024 Revenue: $1.2BDec 2024 Revenue: $1.2BMar 2025 Revenue: $1.2BJun 2025 Revenue: $1.2BSep 2025 Revenue: $1.2BDec 2025 Revenue: $1.2BMar 2026 Revenue: $1.2BJun 2026 Revenue: $1.2BSep 2024 Net income: $430.3MDec 2024 Net income: $614.6MMar 2025 Net income: $407.8MJun 2025 Net income: $358.4MSep 2025 Net income: $511.1MDec 2025 Net income: $507.1MMar 2026 Net income: $526.3MJun 2026 Net income: $500.0MSep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026Jun 2026Net margin: 36.2%Net margin: 52.2%Net margin: 34.5%Net margin: 29.8%Net margin: 41.8%Net margin: 41.7%Net margin: 43.2%Net margin: 40.6%0%26%52%■ Revenue ■ Net income ━ Net margin
Earnings per share$0.0$0.8$1.6$2.4$3.2Sep 2024 EPS (GAAP, diluted): $2.2Dec 2024 EPS (GAAP, diluted): $3.2Mar 2025 EPS (GAAP, diluted): $2.0Jun 2025 EPS (GAAP, diluted): $1.8Sep 2025 EPS (GAAP, diluted): $2.6Dec 2025 EPS (GAAP, diluted): $2.6Mar 2026 EPS (GAAP, diluted): $2.7Jun 2026 EPS (GAAP, diluted): $2.6Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026Jun 2026■ EPS (GAAP, diluted) Change from a year earlier: Sep 2025 +21% · Dec 2025 -19% · Mar 2026 +33% · Jun 2026 +45%

From the company's 10-Q and 10-K filings with the SEC.

Public Storage financials (from SEC filings)

Fiscal yearFY2021FY2022FY2023FY2024FY2025
Revenue$3.4B$4.2B$4.5B$4.7B$4.8B
Net income$2.0B$4.3B$2.1B$2.1B$1.8B
EPS (GAAP)$9.87$23.49$11.06$10.63$9.01

PSA earnings history

ReportedEPS (GAAP)EPS y/yRevenue y/yStock vs S&P 500, 2 days
2026-07-29$2.55+45%+3%-4.0%
2026-04-27$2.71+33%+3%-3.3%
2026-02-12$2.59-19%+3%+3.7%
2025-10-29$2.62+21%+3%-4.7%
2025-07-30$1.76-34%+2%-6.6%
2025-04-30$2.04-22%+2%+1.6%

About Public Storage

HeadquartersFrisco, TX
Industry (SEC code)Real Estate Investment Trusts
Fiscal year endsDecember 31
Incorporated inMD
Listed onNYSE, NYSE, NYSE, NYSE, NYSE, NYSE, NYSE, NYSE, NYSE, NYSE, NYSE, NYSE, NYSE, NYSE, NYSE, NYSE, NYSE

From the company's SEC registration record.

Companies similar to PSA

CompanyMarket valueP/ERevenue growthOperating margin12-month change
PSA Public Storage$49.5B26.9x+3%n/a-0%
O Realty Income$50.9B39.0x+11%n/a-6%compare
VTR Ventas$41.7B153.5x+21%n/a+20%compare
DLR Digital Realty$63.2B47.6x+13%11.5%+5%compare
SPG Simon Property$65.3B14.2x+15%47.4%+14%
CBRE CBRE Group$37.5B29.7x+15%4.5%-17%
IRM Iron Mountain$33.4B80.2x+17%18.8%+11%

All Real Estate stock ratings

Frequently asked questions

Is PSA stock a buy?

Torvanta does not tell individuals what to buy. Its grades for PSA are shown above. Subscribers see the model's rank, expected return and whether the model portfolio holds it. This is research, not a recommendation.

What is PSA's P/E ratio?

PSA trades at about 26.9 times its last 12 months of GAAP earnings reported to the SEC, and about 23.2 times Torvanta's own estimate of the next 12 months.

When does PSA report earnings next?

Based on its filing history, Torvanta expects Public Storage to report around 2026-10-28.

Does PSA pay a dividend?

Yes. Its dividend yield is about 4.3%.

How has PSA performed against the S&P 500?

Over the past year PSA returned -0.1%, against +17.0% for the S&P 500, dividends reinvested.

See the model's view

Subscribers get the model's rank and expected return for every covered company, the reasoning behind each, and the Torvanta model portfolio's trades each trading day, sized and explained, at three risk levels.

See plans Or get the free weekly newsletter

Torvanta is research only - not investment advice and not a recommendation to buy or sell any security. Grades describe a company's reported data against its sector; they are not the model's view, change as data changes and can be wrong. Financial figures come from the company's SEC filings; returns include reinvested dividends. Past performance does not predict future results.

All stock ratings · Stock lists · AI stock research · Model portfolio · Research · Disclaimer