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Public Storage Stock Research

PSA

294.86USD+6.30(+2.18%)Market Closed

Market Summary

USD294.86+6.30
Market Closed
2.18%

PSA Alerts

PSA Stock Price

PSA RSI Chart

PSA Valuation

Market Cap

51.7B

Price/Earnings (Trailing)

11.88

Price/Sales (Trailing)

12.36

Price/Free Cashflow

16.58

PSA Price/Sales (Trailing)

PSA Profitability

Return on Equity

43.17%

Return on Assets

24.78%

Free Cashflow Yield

6.03%

PSA Fundamentals

PSA Revenue

Revenue (TTM)

4.2B

Revenue Y/Y

17.77%

Revenue Q/Q

0.04%

PSA Earnings

Earnings (TTM)

4.3B

Earnings Y/Y

-33.46%

Earnings Q/Q

-85.11%

Price Action

52 Week Range

270.13402.58
(Low)(High)

Last 7 days

-4.1%

Last 30 days

-4.6%

Last 90 days

-3.4%

Trailing 12 Months

-14.9%

PSA Financial Health

Debt/Equity

0.68

Debt/Cashflow

0.45

PSA Investor Care

Dividend Yield

7.17%

Dividend/Share (TTM)

21.15

Shares Dilution (1Y)

0.07%

Diluted EPS (TTM)

23.5

Peers (Alternatives to Public Storage)

View All Peers In Detail
NameMkt Capsorted ascendingRevenuePrice %, 1MReturns, 1YP/EP/SRev 1-YrInc 1-Yr
LARGE-CAP
51.7B
4.2B
-4.61% -14.88%
11.88
12.36
22.43% 122.66%
30.0B
4.7B
-6.82% -21.36%
79.47
6.4
5.96% -77.90%
22.3B
2.7B
-9.31% -29.65%
28.69
8.21
11.91% -41.71%
21.2B
2.6B
-23.98% -31.95%
40.62
8.18
22.46% -8.68%
13.2B
1.7B
-4.07% -13.87%
104.43
7.61
26.61% -85.07%
MID-CAP
7.7B
1.1B
-13.38% -14.77%
20.08
7.2
12.95% 47.42%
4.3B
802.0M
-9.03% -5.22%
-341.02
5.37
114.83% 84.36%
2.9B
1.8B
-31.59% -62.57%
-8.47
1.63
13.26% -296.88%
2.1B
859.2M
-25.44% -29.31%
-31.63
2.43
1.38% -563.21%
SMALL-CAP
1.9B
421.4M
-3.41% 12.84%
22.56
4.55
3.35% 1705.32%
1.7B
826.7M
-30.54% -63.53%
-22.04
2.08
-2.04% -117.36%
1.0B
190.3M
-7.76% -1.93%
11.27
5.46
12.08% 1950.56%
983.2M
740.4M
-22.73% -54.50%
-27.01
1.33
1.87% -78.85%

Financials for Public Storage

Income Statement (Last 12 Months)
(In Millions)
* denotes actual numbers (not divided by Millions)
Description(%) Q/Q2022Q42022Q32022Q22022Q12021Q4
Revenue4.1%4,1824,0183,8253,6223,416
  S&GA Expenses10.7%115104106105101
Costs and Expenses2.9%2,1922,1312,0501,9551,826
EBITDA-1,623----
EBITDA Margin-0.48*----
EBT Margin-0.24*----
Interest Expenses4.9%13613012010991.00
Net Income-4.6%4,3494,5562,2782,0341,953
Net Income Margin-8.3%1.04*1.13*0.60*0.56*-
Free Cahsflow0.2%3,1173,1102,8672,691-
Balance Sheet
(In Millions)
Description(%) Q/Q2022Q42022Q32022Q22022Q12021Q4
Assets0.6%17,55217,45117,86317,69917,381
    Cash Equivalents-12.3%7758841,014941735
Liabilities0.8%7,3867,3307,8157,8967,957
  Long Term Debt1.9%6,8716,7407,3417,4427,475
Shareholder's Equity0.5%10,07310,02710,0489,7199,335
  Retained Earnings10.1%-110-122-182-436-550
  Additional Paid-In Capital0.3%5,8965,8795,8495,8285,822
Shares Outstanding0.0%175175175175175
Minority Interest-0.2%93.0094.0094.0021.0020.00
Cashflow (Last 12 Months)
(In Millions)
Description(%) Q/Q2022Q42022Q32022Q22022Q12021Q4
Cashflow From Operations0.2%3,1173,1102,8672,6912,544
  Share Based Compensation-0.1%57.0057.0058.0059.0060.00
Cashflow From Investing236.6%1,120-819-3,439-5,448-5,563
Cashflow From Financing-77.5%-4,193-2,3621,1073,5403,498
  Buy Backs-875----

Risks for PSA

What is the probability of a big loss on PSA?

43.5%


Probability that Public Storage stock will be more than 20% underwater in next one year

8.8%


Probability that Public Storage stock will be more than 30% underwater in next one year.

0%


Probability that Public Storage stock will be more than 40% underwater in next one year.
*Calculated based on probability distribution of losses observed in actual data in the last 5 years.

How does PSA drawdown profile look like?

Y-axis is the maximum loss one would have experienced if Public Storage was unfortunately bought at previous high price.

Drawdowns

Returns for PSA

Cumulative Returns on PSA

10.7%


10-Year Cumulative Returns

4.8%


7-Year Cumulative Returns

11.8%


5-Year Cumulative Returns

15.0%


3-Year Cumulative Returns

What are the long-term rolling returns for PSA?

FIve years rolling returns for Public Storage.

Annualized Returns

Which funds bought or sold PSA recently?

View All Details
Datesorted ascendingFund NameType% Chg$ Change$ Held% Portfolio
2023-03-15
B. Riley Wealth Advisors, Inc.
added
31.08
172,187
848,187
0.02%
2023-03-10
VICTORY CAPITAL MANAGEMENT INC
reduced
-6.93
-1,967,540
16,011,500
0.02%
2023-03-10
MATHER GROUP, LLC.
added
29.8
72,556
373,556
0.01%
2023-03-08
SHEETS SMITH WEALTH MANAGEMENT
reduced
-2.72
-614,187
8,276,810
1.29%
2023-03-06
Rockefeller Capital Management L.P.
reduced
-8.76
-1,357,000
9,330,000
0.05%
2023-03-03
TIAA, FSB
reduced
-22.83
-150,792
424,208
-%
2023-03-02
LORING WOLCOTT & COOLIDGE FIDUCIARY ADVISORS LLP/MA
new
-
290,557
290,557
-%
2023-03-01
Willow Creek Wealth Management Inc.
reduced
-62.73
-399,000
221,000
0.04%
2023-03-01
BENNICAS & ASSOCIATES, INC.
unchanged
-
-79,557
1,774,440
1.03%
2023-03-01
SMITHBRIDGE ASSET MANAGEMENT INC/DE
new
-
697,000
697,000
0.18%

1–10 of 48

Latest Funds Activity

Are funds buying PSA calls or puts?
Calls
Puts
Are funds bullish or bearish(Calls - Puts)?
Net Call Options
No. of funds that own PSA
No. of Funds

Public Storage News

Seeking Alpha

If You Like Real Estate, This Could Be The Time To Buy.

Seeking Alpha,
4 hours ago

Seeking Alpha

Seeking Alpha

Schedule 13G FIlings of Public Storage

Date FiledName of FilerPercent of ClassNo. of SharesForm Type
Feb 14, 2023
cohen & steers, inc.
5.15%
9,044,538
SC 13G/A
Feb 09, 2023
vanguard group inc
11.74%
20,619,751
SC 13G/A
Jan 31, 2023
state street corp
6.47%
11,358,471
SC 13G/A
Jan 24, 2023
blackrock inc.
9.6%
16,781,174
SC 13G
Feb 14, 2022
cohen & steers, inc.
7.04%
12,350,095
SC 13G/A
Feb 11, 2022
state street corp
6.05%
10,610,525
SC 13G/A
Feb 03, 2022
blackrock inc.
9.8%
17,255,693
SC 13G/A
Aug 12, 2021
gustavson tamara hughes
10.1%
17,654,967
SC 13D
Aug 12, 2021
hughes b wayne et al
0.26%
457,880
SC 13D/A
Feb 16, 2021
cohen & steers, inc.
5.98%
10,452,112
SC 13G

PSA Fair Value

Public Storage fair value in different scenarios

The table shows the Fair Value estimates for Public Storage for various scenarios. Disclaimer: These are just estimations from a model. None of the models are good at predicting the future. Please dont buy or sell stocks based on these outputs.
Fair ValueVery PessimisticPessimisticBase CaseOptimisticVery Optimistic
Very Low Inflation

198.27

-32.76%

237.53

-19.44%

361.14

22.48%

447.23

51.68%

610.41

107.02%
Current Inflation

183.22

-37.86%

216.63

-26.53%

320.52

8.70%

392.10

32.98%

528.62

79.28%
Very High Inflation

164.59

-44.18%

191.24

-35.14%

272.82

-7.47%

328.32

11.35%

435.11

47.56%

Historical Public Storage Fair Value Estimates


Very Pessimistic Case
Pessimistic Case
Fair Value
Optimistic Case
Very Optimistic Case
Closing Stock Price

Recent SEC filings of Public Storage

View All Filings
Date Filed Form Type Document
Mar 14, 2023
4
Insider Trading
Mar 09, 2023
4
Insider Trading
Mar 09, 2023
4
Insider Trading
Mar 09, 2023
4
Insider Trading
Mar 09, 2023
4
Insider Trading
Mar 09, 2023
4
Insider Trading
Mar 06, 2023
4
Insider Trading
Mar 03, 2023
3
Insider Trading
Mar 03, 2023
4
Insider Trading
Mar 02, 2023
4
Insider Trading

Latest Insider Trading transactions for PSA

Filter Transactions
Datesorted ascendingNameBuy/Sell$ ValueAvg. Price# SharesTitle
2023-03-13
POLADIAN AVEDICK BARUYR
acquired
822,982
159
5,163
-
2023-03-08
Johnson Natalia
sold (taxes)
-73,111
300
-243
chief administrative officer
2023-03-08
HAVNER RONALD L JR
sold (taxes)
-143,515
300
-477
-
2023-03-08
REYES JOHN
sold (taxes)
-51,749
300
-172
-
2023-03-08
Boyle Tom
sold (taxes)
-111,623
300
-371
cfo and cio
2023-03-08
RUSSELL JOSEPH D JR
sold (taxes)
-156,452
300
-520
president and ceo
2023-03-05
Johnson Natalia
sold (taxes)
-31,701
304
-104
chief administrative officer
2023-03-03
HAVNER RONALD L JR
gifted
-
-
-12,296
-
2023-02-28
Vitan Nathaniel A.
sold (taxes)
-155,155
298
-519
chief legal officer
2023-02-28
REYES JOHN
sold (taxes)
-72,345
298
-242
-

1–10 of 50

Joseph D. Russell
5800
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-storage facilities located in 38 states with approximately 171 million net rentable square feet in the United States, (ii) an approximate 35% common equity interest in Shurgard Self Storage SA (Euronext Brussels:SHUR) which owned 239 self-storage facilities located in seven Western European nations with approximately 13 million net rentable square feet operated under the “Shurgard” brand and (iii) an approximate 42% common equity interest in PS Business Parks, Inc. (NYSE:PSB) which owned and operated approximately 28 million rentable square feet of commercial space at September 30, 2020. Our headquarters are located in Glendale, California.

PSA Income Statement

2022-12-31
CONSOLIDATED STATEMENTS OF INCOME - USD ($)
shares in Thousands, $ in Thousands
12 Months Ended
Dec. 31, 2022
Dec. 31, 2021
Dec. 31, 2020
Revenues:   
Revenues$ 4,182,163$ 3,415,824$ 2,915,068
Expenses:   
Depreciation and amortization888,146713,428553,257
General and administrative114,742101,25483,199
Interest expense136,31990,77456,283
Operating expenses2,192,1141,826,0541,560,201
Other increases (decreases) to net income:   
Interest and other income40,56712,30622,323
Equity in earnings of unconsolidated real estate entities106,981232,09380,497
Foreign currency exchange gain (loss)98,314111,787(97,953)
Gain on sale of real estate1,50313,6831,493
Gain on sale of equity investment in PS Business Parks, Inc.2,128,86000
Net income4,366,2741,959,6391,361,227
Allocation to noncontrolling interests(17,127)(6,376)(4,014)
Net income allocable to Public Storage shareholders4,349,1471,953,2631,357,213
Allocation of net income to:   
Preferred shareholders(194,390)(186,579)(207,068)
Preferred shareholders - redemptions (Note 9)0(28,914)(48,265)
Restricted share units(12,469)(5,326)(3,545)
Net income allocable to common shareholders$ 4,142,288$ 1,732,444$ 1,098,335
Net income per common share:   
Basic (in USD per share)$ 23.64$ 9.91$ 6.29
Diluted (in USD per share)$ 23.50$ 9.87$ 6.29
Basic weighted average common shares outstanding (in shares)175,257174,858174,494
Diluted weighted average common shares outstanding (in shares)176,280175,568174,642
Self-storage facilities   
Revenues:   
Revenues$ 3,946,028$ 3,203,566$ 2,721,630
Expenses:   
Self-storage cost of operations980,209852,030807,543
Ancillary operations   
Revenues:   
Revenues236,135212,258193,438
Expenses:   
Ancillary cost of operations$ 72,698$ 68,568$ 59,919

PSA Balance Sheet

2022-12-31
CONSOLIDATED BALANCE SHEETS - USD ($)
$ in Thousands
Dec. 31, 2022
Dec. 31, 2021
ASSETS  
Cash and equivalents$ 775,253$ 734,599
Real estate facilities, at cost:  
Land5,273,0735,134,060
Buildings18,946,05317,673,773
Real estate facilities, gross24,219,12622,807,833
Accumulated depreciation(8,554,155)(7,773,308)
Real estate facilities, net15,664,97115,034,525
Construction in process372,992272,471
Total real estate facilities16,037,96315,306,996
Investments in unconsolidated real estate entities275,752828,763
Goodwill and other intangible assets, net232,517302,894
Other assets230,822207,656
Total assets17,552,30717,380,908
LIABILITIES AND EQUITY  
Notes payable6,870,8267,475,279
Accrued and other liabilities514,680482,091
Total liabilities7,385,5067,957,370
Commitments and contingencies (Note 14)
Redeemable noncontrolling interests068,249
Public Storage shareholders’ equity:  
Preferred Shares, $0.01 par value, 100,000,000 shares authorized, 174,000 shares issued (in series) and outstanding, (164,000 at December 31, 2021) at liquidation preference4,350,0004,100,000
Common Shares, $0.10 par value, 650,000,000 shares authorized, 175,265,668 shares issued and outstanding (175,134,455 shares at December 31, 2021)17,52717,513
Paid-in capital5,896,4235,821,667
Accumulated deficit(110,231)(550,416)
Accumulated other comprehensive loss(80,317)(53,587)
Total Public Storage shareholders’ equity10,073,4029,335,177
Noncontrolling interests93,39920,112
Total equity10,166,8019,355,289
Total liabilities, redeemable noncontrolling interests and equity$ 17,552,307$ 17,380,908