Public Storage, a member of the S&P 500, (PSA) Fair Value & Analysis
Real Estate · US · Market cap $57.2B
Public Storage, a member of the S&P 500,
PSA · US
Fair value as of: Jul 27, 2026
From 26 valuation models · updated 11 days ago
Share price −0.5% over the past month.
A solid business, but screening 47% overvalued on our models.
What matters now
- A high-quality business (quality 70/100), yet the market already pays well above fair value. Quality at a full price, with little margin of safety.
- The price sits above even our optimistic bull case ($216.00). The favourable scenario is already priced in.
- As a real-estate business, asset- and dividend-based methods carry more weight here than a standard DCF.
Price vs Fair Value (5 years)
White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Jul 27, 2026.
How to read this chart
60‑month range $213.06 – $343.25 · fair‑value band $129.60 – $216.00 · the $327.00 price screens above the $172.80 fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). Dashed = 300-day average. As of Jul 27, 2026.
Analysis
Public Storage, a member of the S&P 500, (PSA) currently trades at $327.00, while our model-based Fair Value estimate is $172.80, implying the stock looks roughly 47.2% overvalued today. We read business quality at 70/100 (solid quality), in the Real Estate sector. Bear case: priced above our estimate, the market already discounts strong expectations. Bull case: above-average quality can justify a premium, the entry price still matters most (evidence: high).
Over the trailing twelve months, Public Storage, a member of the S&P 500, generated revenue of $4.9B at a net margin of 39.1%. Revenue grew 3.2% year over year. It earns a return on equity of 20.2%. Net debt stands at $9.9B. Fundamentals as of Jul 27, 2026
Our scenario range runs from $129.60 (bear case) to $216.00 (bull case); at $327.00, the current price sits above that range. Bear and bull are the same models run on conservative and optimistic assumptions (margins, growth, valuation multiples), so a plausible valuation range, not a price target. The share trades about 1% below its 52-week high and 30% above its 52-week low, currently above its 200-day average. For context, the median of 10 Real Estate peers we cover trades at -41% fair-value upside, at -47%, PSA screens richer than that median.
Fair Value models
Each model estimates fair value its own way; the Fair Value above is the evidence-weighted blend. Evidence (0–100) measures how completely this model’s inputs are available: well-fed models carry more weight in the blend. The spread across models is intentional, each one stresses a different value driver; dividend models, for instance, come out structurally low when payout is small.
All 26 models by family
Widest divergence: DCF Models ($215.26) versus Asset-Based ($35.30). Highest evidence: Growth DCF (80).
Key figures & financial health
More key figures
Figures from reported company fundamentals · as of Jul 27, 2026. TTM = trailing twelve months.
Quality Score breakdown
Of which business quality 62 · Market factors (momentum, volatility) 67
Non-valuation factor families (profitability, growth, cashflow, financial strength, momentum …), each academically grounded. Valuation itself sits in the Fair Value and is deliberately excluded here to avoid double-counting.
About the company
Public Storage, a member of the S&P 500, is a REIT that primarily acquires, develops, owns, and operates self-storage facilities.
Full company description
Public Storage, a member of the S&P 500, is a REIT that primarily acquires, develops, owns, and operates self-storage facilities. At March 31, 2026, we: (i) owned and/or operated 3,546 self-storage facilities located in 40 states with approximately 259 million net rentable square feet in the United States and (ii) owned a 35% common equity interest in Shurgard Self Storage Limited (Euronext Brussels: SHUR), which owned 333 self-storage facilities located in seven Western European countries with approximately 19 million net rentable square feet operated under the Shurgard brand. Public Storage was incorporated in 1972 in Maryland.
Company description, as reported by the company or data provider.
Revenue & earnings trend
FY2021 – FY2025 · reported fiscal years
Public Storage, a member of the S&P 500, reported revenue of $4.8B in FY2025 versus $3.4B in FY2021, a compound +9.0%/yr. Reported net income was $1.8B in FY2025, compounding −2.2%/yr from FY2021.
PSA screens 47% overvalued. Compare with Prologis, Inc →
Recent news
External third-party headlines (Yahoo Finance, Reuters and others), not an editorial selection.
- ComEd, Solar Landscape and Public Storage Announce 60 New Rooftop Solar Sites Planned for Northern Illinois
- Public Storage (PSA) (Q2 2026) Earnings Call Highlights: Positive Move-In Rent Growth and ...
- Public Storage forecasts $16.75-$17.05 core FFO for 2026 as PS4.0 raises guidance after NSA close
- Public Storage Q2 FFO Misses on Same-Store NOI Decline, Revenues Beat
Peer Group
REIT - Industrial · 63 stocks
How this stock ranks against its industry: the green marker is this stock, the band is the typical 25–75% peer range, and the tick is the median.
Valuation Multiples vs REIT - Industrial median · lower = cheaper
Snowflake
Five quick dimensions, each 0 to 100: VALUE (fair-value potential), FUTURE (revenue growth), PAST (return on equity), HEALTH (low debt), DIVIDEND (yield). Green = this stock, grey = typical sector peer.
VALUE 0: the price sits above our fair-value range.
Values & ESG
Does this company touch areas you may want to avoid? The classification is inferred from sector and industry.
ESG scores are not available for this stock yet. Values and ESG data are contextual and can differ between providers.
Similar stocks
10 more REIT - Industrial stocks, each showing price versus our Fair Value estimate (as of Jul 27, 2026).
| Stock | Price | Fair Value | vs Fair Value |
|---|---|---|---|
| Prologis, Inc PLD | $143.42 | $61.28 | -57% |
| Extra Space Storage Inc EXR | $147.71 | $78.38 | -47% |
| EastGroup Properties, Inc EGP | $213.10 | $81.41 | -62% |
| Lineage, Inc LINE | $41.42 | $47.91 | +16% |
| CapitaLand Ascendas REIT (CLAR) A17U | 2.51 SGD | 2.00 SGD | -20% |
| CubeSmart CUBE | $42.09 | $25.06 | -40% |
| First Industrial Realty Trust, Inc FR | $66.99 | $21.48 | -68% |
| Rexford Industrial Realty, Inc REXR | $39.00 | $21.35 | -45% |
| STAG Industrial, Inc STAG | $41.11 | $24.31 | -41% |
| FIBRA Prologis FIBRAPL14 | 76.48 MXN | 46.89 MXN | -39% |
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How we calculate Fair Value
Each company is valued through a stack of independent intrinsic-value models (DCF variants, residual-income, multiples and more), blended into one family-balanced consensus and weighted by how much trustworthy data backs it. A separate quality layer scores the fundamentals. Every input is real reported data, nothing guessed.
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