Public Storage (PSA)
(Real Time Quote from BATS)
$260.41 USD
-1.81 (-0.69%)
Updated Apr 24, 2024 11:23 AM ET
3-Hold of 5 3
D Value D Growth B Momentum D VGM
Company Summary
Glendale, CA-based Public Storage is a leading self-storage real estate investment trust in the United States. The company acquires, develops, owns and operates self-storage facilities, generally on a month-to-month basis for business as well as personal use. The company is an S&P 500 index member.
As of Dec 31, 2023, Public Storage had interests in 3,044 self-storage facilities (having around 218 million net rentable square feet) across 40 U.S. states. Moreover, the company had a 35% common equity interest in Shurgard Self Storage SA (“Shurgard Europe”), which owned 275 self-storage facilities (comprising roughly 15 million net rentable square ...
Company Summary
Glendale, CA-based Public Storage is a leading self-storage real estate investment trust in the United States. The company acquires, develops, owns and operates self-storage facilities, generally on a month-to-month basis for business as well as personal use. The company is an S&P 500 index member.
As of Dec 31, 2023, Public Storage had interests in 3,044 self-storage facilities (having around 218 million net rentable square feet) across 40 U.S. states. Moreover, the company had a 35% common equity interest in Shurgard Self Storage SA (“Shurgard Europe”), which owned 275 self-storage facilities (comprising roughly 15 million net rentable square feet) across seven countries in Western Europe. These facilities are operating under the “Shurgard” brand name.
Public Storage has been bolstering its growth through the acquisition and development of new facilities and expansion of its existing self-storage facilities. From the beginning of 2021 through Dec 31, 2023, the company acquired 470 facilities with 38.8 million net rentable square feet for $8.5 billion. Within its non-same store portfolio, the company’s developed and expanded facilities included a total of 145 self-storage facilities encompassing 17.1 million net rentable square feet. As of Dec 31, 2023, the company had various facilities in development and expansion, which are expected to add 3.6 million net rentable square feet at an estimated cost of $766.2 million.
In addition, in September 2023, Public Storage acquired Simply Self Storage from Blackstone Real Estate Income Trust, Inc. (”BREIT”) for $2.2 billion. The acquisition included a substantial portfolio of 127 wholly owned properties spanning 18 states and offering 9.4 million net rentable square feet. With this acquisition, Public Storage has the scope to deepen its presence in fast-growing markets and create additional avenues for growth and value creation.
Note: All EPS numbers presented in this report represent FFO per share. FFO, a widely used metric to gauge the performance of REITs, is obtained after adding depreciation and amortization and other non-cash expenses to net income.
General Information
Public Storage
701 WESTERN AVENUE
GLENDALE, CA 91201
Phone: 818-244-8080
Fax: 818-244-9530
Web: http://www.publicstorage.com
Email: rburke@publicstorage.com
| Industry | REIT and Equity Trust - Other |
| Sector | Finance |
| Fiscal Year End | December |
| Last Reported Quarter | 3/31/2024 |
| Earnings Date | 4/30/2024 |
EPS Information
| Current Quarter EPS Consensus Estimate | 4.06 |
| Current Year EPS Consensus Estimate | 16.92 |
| Estimated Long-Term EPS Growth Rate | 4.50 |
| Earnings Date | 4/30/2024 |
Price and Volume Information
| Zacks Rank |  |
| Yesterday's Close | 262.22 |
| 52 Week High | 312.25 |
| 52 Week Low | 233.18 |
| Beta | 0.54 |
| 20 Day Moving Average | 593,634.06 |
| Target Price Consensus | 308.86 |
| 4 Week | -4.75 |
| 12 Week | -7.92 |
| YTD | -14.03 |
| 4 Week | -2.15 |
| 12 Week | -12.07 |
| YTD | -18.40 |
| Shares Outstanding (millions) | 175.69 |
| Market Capitalization (millions) | 46,069.80 |
| Short Ratio | NA |
| Last Split Date | NA |
| Dividend Yield | 4.58% |
| Annual Dividend | $12.00 |
| Payout Ratio | 0.71 |
| Change in Payout Ratio | 0.02 |
| Last Dividend Payout / Amount | 3/12/2024 / $3.00 |
Fundamental Ratios
| P/E (F1) | 15.50 |
| Trailing 12 Months | 15.52 |
| PEG Ratio | 3.44 |
| vs. Previous Year | 0.96% |
| vs. Previous Quarter | -3.00% |
| vs. Previous Year | 6.55% |
| vs. Previous Quarter | 1.40% |
| Price/Book | 8.00 |
| Price/Cash Flow | 14.77 |
| Price / Sales | 10.20 |
| 3/31/24 | NA |
| 12/31/23 | 35.31 |
| 9/30/23 | 34.76 |
| 3/31/24 | NA |
| 12/31/23 | 10.96 |
| 9/30/23 | 11.15 |
| 3/31/24 | NA |
| 12/31/23 | 0.62 |
| 9/30/23 | 0.98 |
| 3/31/24 | NA |
| 12/31/23 | 0.62 |
| 9/30/23 | 0.98 |
| 3/31/24 | NA |
| 12/31/23 | 45.34 |
| 9/30/23 | 45.46 |
| 3/31/24 | NA |
| 12/31/23 | 45.34 |
| 9/30/23 | 45.46 |
| 3/31/24 | NA |
| 12/31/23 | 48.05 |
| 9/30/23 | 54.96 |
| 3/31/24 | NA |
| 12/31/23 | 32.77 |
| 9/30/23 | 33.28 |
| 3/31/24 | NA |
| 12/31/23 | NA |
| 9/30/23 | NA |
| 3/31/24 | NA |
| 12/31/23 | 1.58 |
| 9/30/23 | 1.54 |
| 3/31/24 | NA |
| 12/31/23 | 47.39 |
| 9/30/23 | 46.95 |