Public Storage (PSA) Fair Value & Analysis
Real Estate · US · Market cap $60.8B · ISIN US74460D1090
What is Public Storage really worth?
Public Storage
PSA · US
A solid business, but trading 88% above our fair value of $162.43.
Strengths
Risks
For context
Fair value as of: Aug 29, 2026
From 16 valuation models · updated 7 days ago
Share price −6.4% over the past month.
What runs behind every stock
69 individual criteria per stock, every one traceable See the method →
What matters now
- The price sits above even our optimistic bull case ($203.04). The favourable scenario is already priced in.
- Solid but not exceptional quality (69/100) and above fair value, neither a clear bargain nor a standout compounder.
- 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 Aug 29, 2026.
How to read this chart
60‑month range $213.06 – $343.25 · fair‑value band $121.83 – $203.04 · the $305.73 price screens above the $162.43 fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). Dashed = 300-day average. As of Aug 29, 2026.
Analysis
Public Storage (PSA) currently trades at $305.73, while our model-based Fair Value estimate is $162.43, implying the stock looks roughly 88.2% overvalued today. The Quality Score stands at 69/100 (solid quality), in the Real Estate sector. Bull case: the DCF Models group reads highest at a median of $278.57 per share, and 0 of the 16 models we run sit above the $305.73 price. Bear case: the Asset-Based group reads lowest at $33.18, and 16 of the 16 models stay below the price. Evidence for this calculation is high.
Over the trailing twelve months, Public Storage 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 Aug 29, 2026
Our scenario range runs from $121.83 (bear case) to $203.04 (bull case); at $305.73, 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 8% below its 52-week high and 22% above its 52-week low, currently above its 200-day average. For context, the median of 10 Real Estate peers we cover trades at −43% 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, family-balanced 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. Every input is real reported data, nothing guessed.
All 16 models by family
Widest divergence: DCF Models ($278.57) versus Asset-Based ($33.18). Highest evidence: FCF DCF (76).
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Key figures & financial health
More key figures
Figures from reported company fundamentals · as of Aug 29, 2026. TTM = trailing twelve months.
Quality Score breakdown
Of which business quality 62 · Market factors (momentum, volatility) 57
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.
All values are scores from 0 to 100 (100 = best against fixed, research-based bands), not percentages. The three market factors (momentum, 52-week proximity, low volatility) are displayed but carry zero weight in the headline number: market sentiment is not a business property.
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 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.
of which total revenue +7.8 % · buybacks/dilution −0.2 %
Annual growth per factor. These are factors, not summands: multiplied they give the EPS growth rate, added they do not quite. Start and end points are 3-year averages (details on hover).
PSA screens 88% overvalued. Compare with Prologis, Inc →
Recent news
External third-party headlines (Yahoo Finance, Reuters and others), not an editorial selection.
- Why Is Public Storage (PSA) Down 2% Since Last Earnings Report?
- Do Wall Street Analysts Like Public Storage Stock?
- RHP or PSA: Which Is the Better Value Stock Right Now?
- Daily Dividend Report: CHE,ECL,MAR,PSA,EMN,TSN
Peer Group
REIT - Industrial · 56 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
Strength profile in five axes (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.
Similar stocks
10 more REIT - Industrial stocks, each showing price versus our Fair Value estimate (as of Aug 29, 2026).
| Stock | Price | Fair Value | vs Fair Value |
|---|---|---|---|
| Prologis, Inc PLD | $140.70 | $61.28 | −56% |
| Extra Space Storage Inc EXR | $140.12 | $78.38 | −44% |
| EastGroup Properties, Inc EGP | $198.47 | $81.41 | −59% |
| Lineage, Inc LINE | $39.32 | $47.91 | +22% |
| CapitaLand Ascendas REIT (CLAR) A17U | 2.44 SGD | 2.00 SGD | −18% |
| CubeSmart CUBE | $39.73 | $25.06 | −37% |
| First Industrial Realty Trust, Inc FR | $62.39 | $20.72 | −67% |
| Rexford Industrial Realty, Inc REXR | $36.39 | $20.69 | −43% |
| STAG Industrial, Inc STAG | $37.18 | $21.64 | −42% |
| Terreno Realty Corporation TRNO | $66.59 | $36.59 | −45% |
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