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STOCK COMPARISON

SF Real Estate Investment Trust vs Public Storage: Fair Value & Quality

Both stocks run through our valuation models. Here is how SF Real Estate Investment Trust (2191) and Public Storage (PSA) compare, as of Oct 1, 2026.

As of Oct 1, 2026, Fair Value Calculator sees Public Storage as the less overvalued of the two: SF Real Estate Investment Trust trades at HK$2.56 versus a fair value of HK$1.27 (−50.4%), while Public Storage trades at $283 versus $232 (−18.0%).
SF Real Estate Investment Trust
2191.HK · HKD · Real Estate
−50.4%
upside to fair value
overvalued
PriceHK$2.56
Fair ValueHK$1.27
Quality57/100
Public Storage
PSA · USD · Real Estate
−18.0%
upside to fair value
overvalued
Price$283
Fair Value$232
Quality66/100
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Head-to-head numbers

Green is the better side of a row, red the weaker one (for valuation multiples: lower = cheaper). Grey rows are for reference only and are not scored.

betterweakerfor reference, not scored

SF Real Estate Investment TrustPublic Storage
Valuation
n/aP/E (TTM)27.2×
n/aForward P/E (FY2027)27.7×
0.60×P/S (TTM)10.17×
0.08×P/B5.40×
8.3×EV/EBITDA17.4×
n/aPEG3.88×
−50.4%Fair value upside−18.0%
10.3%Dividend yield4.2%
HK$0.26Dividend per share$12.00
Profitability
76.5%Operating margin45.7%
n/aEBIT margin trend (5Y)0.96×
-9.7%Return on equity21.9%
2.9%Return on assets7.0%
Growth
-1.5%Revenue growth (YoY)3.3%
-0.1%Avg. growth/yr (3Y)4.9%
8.5%Avg. growth/yr (5Y)10.6%
n/aValue creation/yr+7.3%
Balance & size
3.6×Interest coverage (EBIT/interest)7.4×
0.76×Debt / equity1.11×
$267MMarket cap$50B
mixedGrowth qualityhealthy
Forward P/E: price divided by the analyst consensus for the first fiscal year that has not started yet. The current year carries special items from quarters already reported.

Even match: 6 to 6 metric wins.

n/a = not meaningfully computable, for example with negative equity.

Quality in detail

The quality score, broken down into the same factor families as on the stock page, 0 to 100 per family.

SF Real Estate Investment Trustof which business quality 55 · market factors 55 Public Storageof which business quality 61 · market factors 51
ProfitabilityMargins and returns on capital today
2
50
Quality GrowthAre margins and returns improving?
35
22
CashflowEarnings quality: real cash, not paper profit
100
95
Fin. StrengthBalance sheet, leverage, solvency risk
40
42
InvestmentDisciplined investing over empire-building
100
85
Low VolatilityCalm price path (market factor)
100
74
MomentumPrice trend over the last 3–12 months (market factor)
39
42
52W MomentumDistance to the 52-week high (market factor)
30
39
Net IssuanceShare count: buybacks or dilution?
73
80

What the models say

How far the median fair value (base case) per model family sits from the current price, in percent. The amount in the currency of the trading venue is shown underneath.

above the price, more than 15% above close to the price, 85% to 115% of the price below the price, more than 15% below

Model familySF Real Estate Investment TrustPrice HK$2.56Public StoragePrice $283
DCF Models−54.7%below the priceHK$1.16+3.6%close to the price$293
Dividend Discount+8.2%close to the priceHK$2.77−23.3%below the price$217
Multiples−68.0%below the priceHK$0.82−42.6%below the price$162
Asset-Based+1.6%close to the priceHK$2.60−88.3%below the price$33.16
Growth DCF−54.9%below the priceHK$1.16−17.9%below the price$232
Economic Profitn/a−74.4%below the price$72.48
Minimum−68.0%below the priceHK$0.82−88.3%below the price$33.16
Maximum+8.2%close to the priceHK$2.77+3.6%close to the price$293
Median−54.7%below the priceHK$1.16−33.0%below the price$190
Geometric mean−40.9%below the priceHK$1.51−52.7%below the price$134

Minimum, maximum, median and geometric mean refer to the family values in this table. Geometric because deviations are ratios: half the price and twice the price average to 100%, not 125%.

SF Real Estate Investment Trust: 7 of 9 models see the stock below the current price.

Public Storage: 12 of 16 models see the stock below the current price.

Scenario ranges

From our cautious bear scenario to the optimistic bull scenario. The white tick is the current price (value above it), the green tick the fair value (value below it): if the price sits left of the fair value, there is room to rise.

SF Real Estate Investment Trust
Price HK$2.56
Fair Value HK$1.27
Bear HK$0.64Bull HK$2.78
Public Storage
Price $283
Fair Value $232
Bear $122Bull $365

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Ranked within their sector

Where each stock sits within its sector peer group. Band = middle 50% of peers, tick = median, dot = this stock.

SF Real Estate Investment Trust · Real Estate

Quality score57 · above median
Fair value upside−50.4% · bottom 25%

Public Storage · Real Estate

Quality score66 · Top 25%
Fair value upside−18.0% · below median

Bottom line

As of Oct 1, 2026, Fair Value Calculator sees Public Storage as the less overvalued of the two: SF Real Estate Investment Trust trades at HK$2.56 versus a fair value of HK$1.27 (−50.4%), while Public Storage trades at $283 versus $232 (−18.0%).

Public Storage has the higher quality score (66/100).

Open Public Storage live analysis →

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A model-based valuation snapshot from 26 models. Values change with price and fundamentals; the date shown above applies.