Public Storage
Market Cap
US$42.2b
Last Updated
2019/10/21 23:42 UTC
Data Sources
Company Financials +
Executive Summary
Public Storage, a member of the S&P 500 and FT Global 500, is a REIT that primarily acquires, develops, owns and operates self-storage facilities.
Snowflake
Fundamentals
Established dividend payer with acceptable track record.
Similar Companies
Share Price & News
How has Public Storage's share price performed over time and what events caused price changes?
Latest Share Price and Events
Market Performance
7 Day Return
-0.6%
PSA
1.5%
US REITs
0.5%
US Market
1 Year Return
24.0%
PSA
20.3%
US REITs
6.8%
US Market
Return vs Industry: PSA exceeded the US REITs industry which returned 20.3% over the past year.
Return vs Market: PSA exceeded the US Market which returned 6.8% over the past year.
Shareholder returns
| PSA | Industry | Market | |
|---|---|---|---|
| 7 Day | -0.6% | 1.5% | 0.5% |
| 30 Day | -1.6% | 1.7% | -0.8% |
| 90 Day | -0.2% | 7.6% | -0.9% |
| 1 Year | 28.4%24.0% | 25.7%20.3% | 9.2%6.8% |
| 3 Year | 28.7%15.3% | 35.8%18.5% | 45.6%36.2% |
| 5 Year | 61.8%36.2% | 64.6%29.8% | 63.2%45.4% |
Price Volatility Vs. Market
How volatile is Public Storage's share price compared to the market and industry in the last 5 years?
Simply Wall St News
6 days ago | Simply Wall St
Is Public Storage (NYSE:PSA) A High Quality Stock To Own?3 weeks ago | Simply Wall St
What To Know Before Buying Public Storage (NYSE:PSA) For Its Dividend1 month ago | Simply Wall St
Have Public Storage (NYSE:PSA) Insiders Been Selling Their Stock?Valuation
Is Public Storage undervalued compared to its fair value and its price relative to the market?
29.06x
Price to Earnings (PE) ratio
Share Price vs. Fair Value
Below Fair Value: PSA ($243.79) is trading above our estimate of fair value ($224)
Significantly Below Fair Value: PSA is trading above our estimate of fair value.
Price To Earnings Ratio
PE vs Industry: PSA is good value based on its PE Ratio (29.1x) compared to the REITs industry average (36.2x).
PE vs Market: PSA is poor value based on its PE Ratio (29.1x) compared to the US market (17.7x).
Price to Earnings Growth Ratio
PEG Ratio: PSA is poor value based on its PEG Ratio (11.8x)
Price to Book Ratio
PB vs Industry: PSA is overvalued based on its PB Ratio (8.4x) compared to the US REITs industry average (2x).
Next Steps
Future Growth
How is Public Storage forecast to perform in the next 1 to 3 years based on estimates from 8 analysts?
2.5%
Forecasted annual earnings growth
Earnings and Revenue Growth Forecasts
Analyst Future Growth Forecasts
Earnings vs Savings Rate: PSA's forecast earnings growth (2.5% per year) is below the savings rate (2.7%).
Earnings vs Market: PSA's earnings (2.5% per year) are forecast to grow slower than the US market (14.6% per year).
High Growth Earnings: PSA's earnings are forecast to grow, but not significantly.
Revenue vs Market: PSA's revenue (2.1% per year) is forecast to grow slower than the US market (7.2% per year).
High Growth Revenue: PSA's revenue (2.1% per year) is forecast to grow slower than 20% per year.
Earnings per Share Growth Forecasts
Future Return on Equity
Future ROE: PSA's Return on Equity is forecast to be high in 3 years time (22.5%)
Next Steps
Past Performance
How has Public Storage performed over the past 5 years?
10.0%
Historical annual earnings growth
Earnings and Revenue History
Past Earnings Growth Analysis
Earnings Trend: PSA's earnings have grown by 10% per year over the past 5 years.
Accelerating Growth: PSA's earnings growth over the past year (16.9%) exceeds its 5-year average (10% per year).
Earnings vs Industry: PSA earnings growth over the past year (16.9%) underperformed the REITs industry 17.6%.
Return on Equity
High ROE: PSA's Return on Equity (19.4%) is considered low.
Return on Assets
ROA vs Industry: PSA has a higher Return on Assets than the REITs industry average last year.
Return on Capital Employed
ROCE Improving: PSA's Return on Capital Employed has declined over the past 3 years.
Next Steps
Financial Health
How is Public Storage's financial position? (This company is analysed differently as a bank or financial institution)
Financial Position Analysis
Debt to Equity History and Analysis
Balance Sheet
Inventory Level: PSA has a high level of physical assets or inventory.
Debt Coverage by Assets: PSA's debt is not covered by short term assets (assets are 0.2x debt).
Financial Institutions Analysis
Asset Level: PSA's level of assets compared to its equity is low.
Allowance for Bad Loans: Insufficient data to determine if PSA has a sufficient allowance for bad loans.
Low Risk Liabilities: PSA reports no customer deposits, loans are made up entirely of externally borrowed funds.
Loan Level: Insufficient data to determine if PSA has an acceptable proportion of non-loan assets held.
Low Risk Deposits: PSA has advanced significantly more loans than the customer deposits it holds.
Level of Bad Loans: Insufficient data to determine if PSA has an appropriate level of bad loans.
Next Steps
Dividend
What is Public Storage's current dividend yield, its reliability and sustainability?
3.28%
Current Dividend Yield
Dividend Yield vs Market
Current dividend yield vs market & industry
Stability and Growth of Payments
Notable Dividend: PSA's dividend (3.28%) is higher than the bottom 25% of dividend payers in the US market (1.45%).
High Dividend: PSA's dividend (3.28%) is low compared to the top 25% of dividend payers in the US market (3.73%).
Stable Dividend: PSA's dividends per share have been stable in the past 10 years.
Growing Dividend: PSA's dividend payments have increased over the past 10 years.
Current Payout to Shareholders
Dividend Coverage: At its current payout ratio (88%), PSA's payments are covered by earnings.
Future Payout to Shareholders
Future Dividend Coverage: PSA's dividends in 3 years are forecast to be thoroughly covered by earnings (0.4% payout ratio).
Next Steps
Management
What is the CEO of Public Storage's salary, the management and board of directors tenure and is there insider trading?
1.4yrs
Average management tenure
CEO
Dan Staton (66yo)
0yrs
Tenure
US$205,300
Compensation
Mr. Daniel C. Staton, II, also known as Dan, serves as the Managing General Partner of The Walnut Group. He is a Managing Director at Staton Capital LLC since February 2003. Mr. Staton serves as the Co-Man ...
Management Age and Tenure
1.4yrs
Average Tenure
59yo
Average Age
Experienced Management: PSA's management team is not considered experienced ( 1.4 years average tenure), which suggests a new team.
Board Age and Tenure
9.7yrs
Average Tenure
67yo
Average Age
Experienced Board: PSA's board of directors are considered experienced (9.7 years average tenure).
Insider Trading
Insider Buying: PSA insiders have only sold shares in the past 3 months.
Recent Insider Transactions
| Entity | Individual |
| Role | Chairman Emeritus Founder & Chairman Emeritus |
| Shares | 250,000 |
| Max Price | US$266.13 |
| Entity | Individual |
| Role | Chief Legal Officer Senior VP |
| Shares | 719 |
| Max Price | US$264.35 |
| Entity | Individual |
| Role | Chairman Emeritus Founder & Chairman Emeritus |
| Shares | 38,000 |
| Max Price | US$258.44 |
| Entity | Individual |
| Role | Chairman Emeritus Founder & Chairman Emeritus |
| Shares | 40,000 |
| Max Price | US$257.24 |
Ownership Breakdown
Management Team
B. Hughes (85yo)
Founder & Chairman Emeritus
- Tenure: 0yrs
Joe Russell (59yo)
CEO, President & Trustee
- Tenure: 0.8yrs
- Compensation: US$2.19m
Dan Staton (66yo)
Independent Trustee
- Tenure: 0yrs
- Compensation: US$205.30k
John Sambuco
President of Asset Management
- Tenure: 11.4yrs
Steven Lentin
Senior VP & COO
- Tenure: 1.8yrs
Tom Boyle (36yo)
CFO & Senior VP
- Tenure: 0.8yrs
Mark Delcher
Senior VP & Chief Information Officer
- Tenure: 0yrs
Natalia Johnson (41yo)
Senior VP & Chief Human Resources Officer
- Tenure: 3.3yrs
- Compensation: US$1.25m
Ryan Burke
Vice President of Investor Services
- Tenure: 1.4yrs
Nathan Vitan
Senior VP
- Tenure: 0.5yrs
Board Members
Ron Spogli (71yo)
Independent Trustee
- Tenure: 9.7yrs
- Compensation: US$205.30k
B. Hughes (85yo)
Founder & Chairman Emeritus
- Tenure: 0yrs
Edward Reyes (58yo)
- Tenure: 0.8yrs
- Compensation: US$5.73m
Joe Russell (59yo)
CEO, President & Trustee
- Tenure: 0.8yrs
- Compensation: US$2.19m
Ron Havner (61yo)
Chairman of the Board Trustees
- Tenure: 8.2yrs
- Compensation: US$9.18m
Uri Harkham (70yo)
Independent Trustee
- Tenure: 26.6yrs
- Compensation: US$192.80k
B. Hughes (60yo)
- Tenure: 21.8yrs
- Compensation: US$185.30k
Dan Staton (66yo)
Independent Trustee
- Tenure: 0yrs
- Compensation: US$205.30k
Dick Poladian (68yo)
Independent Trustee
- Tenure: 9.7yrs
- Compensation: US$210.30k
Gary Pruitt (69yo)
Lead Independent Trustee
- Tenure: 9.4yrs
- Compensation: US$220.30k
Company Information
Public Storage's company bio, employee growth, exchange listings and data sources
Key Information
- Name: Public Storage
- Ticker: PSA
- Exchange: NYSE
- Founded: 1971
- Industry: Specialized REITs
- Sector: Real Estate
- Implied Market Cap: US$42.230b
- Market Cap: US$42.565b
- Shares outstanding: 174.83m
- Website: https://www.publicstorage.com
Number of Employees
Location
- Public Storage
- 701 Western Avenue
- Glendale
- California
- 91201
- United States
Listings
| Ticker | Exchange | Primary Security | Security Type | Country | Currency | Listed on |
|---|---|---|---|---|---|---|
| PSA | NYSE (New York Stock Exchange) | Yes | Common Stock | US | USD | Nov 1980 |
| PUP | DB (Deutsche Boerse AG) | Yes | Common Stock | DE | EUR | Nov 1980 |
| 0KS3 | LSE (London Stock Exchange) | Yes | Common Stock | GB | USD | Nov 1980 |
| PSA.PRK | NYSE (New York Stock Exchange) | PFD K 1/1000 | US | USD | Aug 2006 | |
| PSA PRLCL | NYSE (New York Stock Exchange) | PFD L 1/1000TH | US | USD | Nov 2006 | |
| PSA.PRV | NYSE (New York Stock Exchange) | DEP1/1000THPFD | US | USD | Sep 2012 | |
| PSA.PRX | NYSE (New York Stock Exchange) | DEP 1/1000 PFD X | US | USD | Mar 2013 | |
| PSA.PRA | NYSE (New York Stock Exchange) | SHS REPSTG PFD | US | USD | Nov 2014 | |
| PSA.PRB | NYSE (New York Stock Exchange) | DEP RPST PFD B | US | USD | Jan 2016 | |
| PSA.PRC | NYSE (New York Stock Exchange) | DEP SHS PFD C | US | USD | May 2016 | |
| PSA.PRD | NYSE (New York Stock Exchange) | DEP SHS PFD D | US | USD | Jul 2016 | |
| PSA.PRE | NYSE (New York Stock Exchange) | PFD BEN INT E | US | USD | Oct 2016 | |
| PSA.PRF | NYSE (New York Stock Exchange) | PFD SHS F 5.15% | US | USD | May 2017 | |
| PSA.PRG | NYSE (New York Stock Exchange) | 5.05% CUM PFD G | US | USD | Aug 2017 | |
| PSA.PRH | NYSE (New York Stock Exchange) | 5.60 DEPSHS RP H | US | USD | Mar 2019 | |
| PSA.PRI | NYSE (New York Stock Exchange) | 4.875 DPRP PFD I | US | USD | Sep 2019 |
Biography
Public Storage, a member of the S&P 500 and FT Global 500, is a REIT that primarily acquires, develops, owns and operates self-storage facilities. At June 30, 2019, we had: (i) interests in 2,456 self-stor ...
Company Analysis and Financial Data Status
| Data | Last Updated (UTC time) |
|---|---|
| Company Analysis | 2019/10/21 23:42 |
| End of Day Share Price | 2019/10/21 00:00 |
| Earnings | 2019/06/30 |
| Annual Earnings | 2018/12/31 |
Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more here.