Public Storage (PSA): analysis in plain words
Is Public Storage cheap or expensive? How it makes money, whether it grows and its risks, explained in plain words and with its official accounts.
Public Storage (PSA) is listed on the NYSE and we classify it in real estate. Below are its key dated figures, how it makes money, how it compares with its sector, what works for and against Public Storage according to those figures, and the questions people ask most about the stock. No buy or sell tips.
Public Storage (PSA) key figures as of November 4, 2026
| Figure | Value | What it measures |
|---|---|---|
| Share price | $342.76 | Last price on November 4, 2026 |
| P/E ratio (TTM) | 36.0x | Price over earnings per share |
| Revenue growth | +10.8% | Latest quarter vs the same quarter a year earlier |
| Net margin (TTM) | 37.7% | Profit for every 100 of sales |
| Net debt / EBITDA | 3.3x | Years of operating profit to repay debt |
| Dividend yield | 3.60% | Annual dividend over price |
| Market cap | $64.0 billion | What the stock market values it at |
The Public Storage figures come from Yahoo Finance, the same source the Fintols analysis uses, retrieved on November 4, 2026. Any PSA figure that is not available shows as N/A: we do not estimate it.
How Public Storage makes money
Public Storage is a REIT that rents self-storage units to households and businesses across the United States on month-to-month terms. Rent from its own facilities is the main revenue source, and it also sells insurance for stored belongings and holds a stake in Shurgard, a European self-storage operator.
Over the last 12 months, Public Storage brought in revenue of $5.0 billion. For every 100 it sells, Public Storage keeps 74.3 after the direct cost of what it sells (gross margin) and 39.5 after all operating costs (operating margin).
Public Storage against its sector
To know whether a Public Storage figure is high or low you have to put it next to similar companies. This table compares Public Storage with the median of the 9 real estate companies Fintols covers, with data as of November 4, 2026.
| Figure | Public Storage | real estate median |
|---|---|---|
| P/E | 36.0x | 28.9x (9) |
| Revenue growth | +10.8% | +10.4% (9) |
| Net margin | 37.7% | 37.7% (9) |
| Dividend yield | 3.60% | 3.60% (9) |
| Net debt / EBITDA | 3.3x | 5.5x (9) |
In short, against the typical real estate company, Public Storage trades on a higher P/E and carries less debt. By size, Public Storage ranks number 6 of 7 real estate companies quoted in USD on Fintols.
The bull case for Public Storage
What works in favour of Public Storage, according to its figures as of November 4, 2026:
- Public Storage keeps 37.7 of every 100 it sells as net profit, against 37.7 for the median real estate company: a margin like that leaves money to invest, buy back shares or pay dividends.
- Public Storage generates real cash: $3.0 billion of free cash flow over 12 months, 4.6% of its stock market value.
- Public Storage earns 15.6% a year on its shareholders' money (return on equity).
The main risk for Public Storage
Public Storage pays out more in dividends than it earns (a 126% payout ratio): its 3.60% yield only holds up if profit recovers.
And, like the rest of real estate, Public Storage is exposed to interest rates, which raise its borrowing costs and lower property values, and vacant space.
Frequently asked questions about Public Storage
Is it a good time to buy Public Storage stock?
Fintols does not tell you whether to buy or sell Public Storage, and nobody knows what the price will do tomorrow. What we can show you is where it stands today. As of November 4, 2026, Public Storage stock trades at $342.76, 0% below its 52-week high ($343.63) and 34% above its low ($256.54). Its P/E is 36.0x against a real estate median of 28.9x, and 34.5x on the earnings analysts expect over the next 12 months. With Public Storage, as with any stock, timing matters less than understanding the business, investing for the long run and not betting everything on a single company.
Does Public Storage pay a dividend?
Yes. As of November 4, 2026, Public Storage pays $12.00 per share a year, which at today's price is a yield of 3.60%. It uses 126% of its profit to pay it, more than it earns, which cannot last forever.
Is Public Storage stock expensive?
It depends on what you compare it with. On P/E, Public Storage trades at 36.0x its last 12 months of earnings: more expensive than the real estate median (28.9x). A high P/E alone does not make Public Storage expensive: it can be justified if earnings grow fast, and a low one can reflect a business in trouble.
Who are Public Storage's competitors?
On Fintols we compare Public Storage with Equinix, Realty Income and Inmobiliaria Colonial, which are also in real estate. As of November 4, 2026, Equinix is worth $104.3 billion and trades on a P/E of 63.3; Realty Income is worth $56.0 billion and trades on a P/E of 40.6; Inmobiliaria Colonial is worth €3.3 billion and trades on a P/E of 9.7. Each has a side-by-side comparison with Public Storage below.
Public Storage competitors
- Equinix (EQIX) analysis · Public Storage vs Equinix comparison
- Realty Income (O) analysis · Public Storage vs Realty Income comparison
- Inmobiliaria Colonial (COL) analysis · Public Storage vs Inmobiliaria Colonial comparison
To understand Public Storage better
- Dividend Growth Investing: FCF Payout Ratio and Compounding
- How to Read a Balance Sheet: A Beginner's Guide
More companies like Public Storage: real estate stocks and S&P 500 companies. Open the full PSA analysis with its valuation and scenarios. Educational content about Public Storage, not investment advice.