Public Storage
Market Cap
US$46.7b
Last Updated
2021/04/17 22:35 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. More Details
Rewards
Risk Analysis
No risks detected for PSA from our risk checks.
Snowflake Analysis
Established dividend payer with mediocre balance sheet.
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
Stable Share Price: PSA is less volatile than 75% of US stocks over the past 3 months, typically moving +/- 3% a week.
Volatility Over Time: PSA's weekly volatility (3%) has been stable over the past year.
Market Performance
7 Day Return
3.5%
PSA
2.4%
US REITs
1.3%
US Market
1 Year Return
35.8%
PSA
26.1%
US REITs
53.9%
US Market
Return vs Industry: PSA exceeded the US REITs industry which returned 26.1% over the past year.
Return vs Market: PSA underperformed the US Market which returned 53.9% over the past year.
Shareholder returns
| PSA | Industry | Market | |
|---|---|---|---|
| 7 Day | 3.5% | 2.4% | 1.3% |
| 30 Day | 10.2% | 4.8% | 5.3% |
| 90 Day | 18.9% | 13.5% | 8.9% |
| 1 Year | 40.9%35.8% | 31.4%26.1% | 56.6%53.9% |
| 3 Year | 54.5%38.4% | 46.3%28.7% | 64.4%53.6% |
| 5 Year | 24.6%3.8% | 53.3%22.4% | 120.4%95.7% |
Long-Term 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
2 weeks ago | Simply Wall St
If You Had Bought Public Storage (NYSE:PSA) Shares A Year Ago You'd Have Earned 28% Returns1 month ago | Simply Wall St
Has Public Storage (NYSE:PSA) Stock's Recent Performance Got Anything to Do With Its Financial Health?3 months ago | Simply Wall St
Have Insiders Been Buying Public Storage (NYSE:PSA) Shares?Valuation
Is Public Storage undervalued compared to its fair value and its price relative to the market?
15.3%
Undervalued compared to fair value
Share Price vs. Fair Value
Below Fair Value: PSA ($266.8) is trading below our estimate of fair value ($315.11)
Significantly Below Fair Value: PSA is trading below fair value, but not by a significant amount.
Price To Earnings Ratio
PE vs Industry: PSA is good value based on its PE Ratio (42.4x) compared to the US REITs industry average (47.1x).
PE vs Market: PSA is poor value based on its PE Ratio (42.4x) compared to the US market (22.5x).
Price to Earnings Growth Ratio
PEG Ratio: PSA is poor value based on its PEG Ratio (5.2x)
Price to Book Ratio
PB vs Industry: PSA is overvalued based on its PB Ratio (9.8x) compared to the US REITs industry average (1.8x).
Future Growth
How is Public Storage forecast to perform in the next 1 to 3 years based on estimates from 8 analysts?
8.1%
Forecasted annual earnings growth
Earnings and Revenue Growth Forecasts
Analyst Future Growth Forecasts
Earnings vs Savings Rate: PSA's forecast earnings growth (8.1% per year) is above the savings rate (2%).
Earnings vs Market: PSA's earnings (8.1% per year) are forecast to grow slower than the US market (18.1% per year).
High Growth Earnings: PSA's earnings are forecast to grow, but not significantly.
Revenue vs Market: PSA's revenue (3.5% per year) is forecast to grow slower than the US market (9.3% per year).
High Growth Revenue: PSA's revenue (3.5% 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 (29.8%)
Past Performance
How has Public Storage performed over the past 5 years?
3.1%
Historical annual earnings growth
Earnings and Revenue History
Quality Earnings: PSA has high quality earnings.
Growing Profit Margin: PSA's current net profit margins (36.7%) are lower than last year (43.5%).
Past Earnings Growth Analysis
Earnings Trend: PSA's earnings have grown by 3.1% per year over the past 5 years.
Accelerating Growth: PSA's has had negative earnings growth over the past year, so it can't be compared to its 5-year average.
Earnings vs Industry: PSA had negative earnings growth (-13.7%) over the past year, making it difficult to compare to the REITs industry average (-4.4%).
Return on Equity
High ROE: PSA's Return on Equity (15.3%) is considered low.
Financial Health
How is Public Storage's financial position?
Financial Position Analysis
Short Term Liabilities: PSA's short term assets ($282.6M) do not cover its short term liabilities ($396.5M).
Long Term Liabilities: PSA's short term assets ($282.6M) do not cover its long term liabilities ($2.5B).
Debt to Equity History and Analysis
Debt Level: PSA's debt to equity ratio (28.7%) is considered satisfactory.
Reducing Debt: PSA's debt to equity ratio has increased from 3.5% to 28.7% over the past 5 years.
Debt Coverage: PSA's debt is well covered by operating cash flow (80.3%).
Interest Coverage: PSA's interest payments on its debt are well covered by EBIT (35.2x coverage).
Balance Sheet
Dividend
What is Public Storage current dividend yield, its reliability and sustainability?
3.00%
Current Dividend Yield
Dividend Yield vs Market
Notable Dividend: PSA's dividend (3%) is higher than the bottom 25% of dividend payers in the US market (1.24%).
High Dividend: PSA's dividend (3%) is low compared to the top 25% of dividend payers in the US market (3.46%).
Stability and Growth of Payments
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 (94.4%), PSA's payments are covered by earnings.
Future Payout to Shareholders
Future Dividend Coverage: PSA's dividends in 3 years are forecast to be covered by earnings (66% payout ratio).
Next Steps
Management
How experienced are the management team and are they aligned to shareholders interests?
2.3yrs
Average management tenure
CEO
Joe Russell (60 yo)
2.25yrs
Tenure
US$4,800,928
Compensation
Mr. Joseph D. Russell Jr., also known as Joe, has been the President at Public Storage since July 1, 2016 and serves as its Chief Executive Officer and Director since January 01, 2019. Mr. Russell served a...
CEO Compensation Analysis
Compensation vs Market: Joe's total compensation ($USD4.80M) is below average for companies of similar size in the US market ($USD11.14M).
Compensation vs Earnings: Joe's compensation has been consistent with company performance over the past year.
Leadership Team
Experienced Management: PSA's management team is considered experienced (2.3 years average tenure).
Board Members
Experienced Board: PSA's board of directors are not considered experienced ( 2.3 years average tenure), which suggests a new board.
Ownership
Who are the major shareholders and have insiders been buying or selling?
Insider Trading Volume
Insider Buying: Insufficient data to determine if insiders have bought more shares than they have sold in the past 3 months.
Recent Insider Transactions
Ownership Breakdown
Dilution of Shares: Shareholders have not been meaningfully diluted in the past year.
Top Shareholders
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$46.696b
- Market Cap: US$46.634b
- Shares outstanding: 175.02m
- Website: https://www.publicstorage.com
Number of Employees
Location
- Public Storage
- 701 Western Avenue
- Glendale
- California
- 91201
- United States
Listings
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 September 30, 2020, we had: (i) interests in 2,504 self...
Company Analysis and Financial Data Status
| Data | Last Updated (UTC time) |
|---|---|
| Company Analysis | 2021/04/17 22:35 |
| End of Day Share Price | 2021/04/16 00:00 |
| Earnings | 2020/12/31 |
| Annual Earnings | 2020/12/31 |
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.