Public Storage

Symbol: PSA
CIK: 1393311
Exchange: NYSE
Founded: 1972 (47 years)
HQ: Glendale, CA, United States
Type of REIT: Equity REIT
Listing Status: Public
Market Capitalization: Large-Cap
REIT Sector: Self Storage

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Overall Score: 8.7

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REITRating is REITNote's Real Estate Investment Trust industry-specific rating and ranking system. Learn More


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Hightlights of Trading Day October 18, 2019


Open Price: $240.52
Closing Price: $241.55
Price Change: 0.86 (0.357%)
Lowest Price: $238.655
Highest Price: $242.14

52-Week Low: $193.89
52-Week High: $266.76
52-Week Change: 21.91%

5 Day Price Change: -2.14%
1 Month Price Change: -3.91%
3 Month Price Change: -2.77%
6 Month Price Change: 10.69%
YTD Price Change: 23.39%
1 Year Price Change: 21.48%
2 Year Price Change: 11.49%
5 Year Price Change: 40.33%

Dividend of Trading Day October 18, 2019


Dividend Yield: 3.312%*
Annualized Dividend: $8*
Dividend Yield (TTM): 3.312%
Annualized Dividend (TTM): $8
Ex Dividend Date: 2019-09-11
Dividend Frequency: Quarterly

*The forward annualized dividend and dividend yield are based on the most recent dividend value paid by the REIT. The REIT may have already announced their next upcoming dividend value, which may be different from previously paid dividend value. It is recommended to check the REIT's website and dividend announcements for the latest information on upcoming dividends and changes.

Latest News Headlines


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Funds From Operations (FFO)


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Key Stats of Trading Day October 18, 2019


Total Cash: $361,218,000
Current Debt: $1,867,000
Revenue: $2,905,896,000
Gross Profit: $1,682,528,000
Total Revenue: $2,905,896,000
Earnings Before Interest, Taxes & Depreciation Amortization (EBITDA): $2,047,454,000
Revenue Per Share: $17
Revenue Per Employee: $518,910
Employee: 5,600
Debt to Equity Ratio (D/E): 0.15
Profit Margin: 0.59%
Enterprise Value (EV): $43,995,189,080
Enterprise Value to Revenue (EV/R): 15.14
Price to Sales (P/S): 14.78
Price to Book (P/B): 4.71
Peg Ratio: -2.44
P/E Ratio: 28.79
P/E High: 31.83
P/E Low: 23.14
Forward P/E Ratio: 33.19
Market Capitalization: $42,174,146,900
Beta: 0.10
Latest Volume: 1,609,322.00
Avg. Total Volume: 999,642
Avg. 10 Volume: 871,763.40
Avg. 30 Volume: 999,642.10
TTM EPS: 8.39
TTM Dividend Rate: 8.00
Shares Outstanding: 174,598,000
Float: 149,266,274.57
50-Day Moving Avg.: 251.97
200-Day Moving Avg.: 231.56

Latest REIT Community Comments on #PSA


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Properties Owned by PSA


Properties owned:
2358
Types:
1
States:
38
Countries:
1
Sample of REIT’s Properties (Image Source - REIT’s website) | See more pictures
PSA Sample Property
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Occupancy Rate


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Dividend History


Below are the most recent cash dividends paid by PSA, and the Ex-Dividend Date of the dividend. The percent difference from one dividend payment to the next has also been calculated for your convenience.


Symbol Ex Date Cash Amount Change in Dividend Declaration Date Record Date Payment Date

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Financial Statements Overview

Balance Sheet (Quarterly)

See Annual Balance Sheet | See Quarterly Balance Sheet

Amounts in USD ($)

Balance Sheet 2019-06-30 2019-03-31 2018-12-31 2018-09-30
Current Cash 360,331,000 217,973,000 361,218,000 432,525,000
Receivables 0 0 0 0
Inventory 0 0 0 0
Current Assets 0 0 0 0
Current Assets (Other) 0 0 0 0
Short Term Investments 0 0 0 0
Long-term Investments 778,523,000 784,314,000 783,988,000 619,405,000
Property, Plant & Equipment Net 0 0 0 0
Goodwill 174,600,000 174,600,000 174,600,000 174,600,000
Intangible Assets 35,578,000 35,859,000 35,256,000 34,717,000
Other Assets 165,772,000 166,600,000 131,097,000 138,343,000
Net Tangible Assets 8,354,956,000 8,658,762,000 8,705,422,000 8,482,174,000
Total Assets 11,113,291,000 10,875,016,000 10,928,270,000 10,747,940,000
Accounts Payable 0 0 0 0
Liabilities (Other) 410,671,000 374,245,000 371,259,000 409,973,000
Current Liabilities (Other) 0 0 0 0
Total Current Liabilities 0 0 0 0
Current Long-term Debt 971,000 1,448,000 1,867,000 9,916,000
Long-term Debt 1,907,139,000 1,404,702,000 1,410,416,000 1,408,029,000
Total Liabilities 2,318,781,000 1,780,395,000 1,783,542,000 1,827,918,000
Minority Interest 1,400,000 1,157,000 1,701,000 1,562,000
Common Stock 17,429,000 17,422,000 17,413,000 17,406,000
Retained Earnings -648,391,000 -615,329,000 -577,360,000 -760,284,000
Treasury Stock 0 0 0 0
Capital Surplus 5,729,945,000 5,708,699,000 5,718,485,000 5,697,308,000
Shareholder Equity 8,768,934,000 9,069,821,000 9,119,478,000 8,895,091,000

Income Statement (Quarterly)

See Annual Income Statement | See Quarterly Income Statement

Amounts in USD ($)

Income Statement 2019-06-30 2019-03-31 2018-12-31 2018-09-30
Total Revenue 710,950,000 689,038,000 844,076,000 706,368,000
Cost of Revenue 334,595,000 326,142,000 281,748,000 320,060,000
Gross Profit 376,355,000 362,896,000 562,328,000 386,308,000
Research and Development 0 0 0 0
Selling General and Admin 0 0 0 0
Operating Expense 348,574,000 344,212,000 308,050,000 346,657,000
Operating Income 361,091,000 343,393,000 533,886,000 358,879,000
Income Expense Net (Other) 10,365,000 24,285,000 54,020,000 20,710,000
EBIT 361,091,000 343,393,000 533,886,000 358,879,000
Interest Income 12,254,000 8,143,000 7,953,000 8,094,000
Pretax Income 371,456,000 367,678,000 587,906,000 379,589,000
Income Tax 0 0 0 0
Minority Interest 1,400,000 1,157,000 1,701,000 1,562,000
Net Income 368,797,000 365,288,000 584,180,000 376,759,000
Net Income Basic 306,411,000 301,743,000 530,102,000 322,679,000

Cash Flow

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Amounts in USD ($)

Cash Flow 2019-06-30 2019-03-31 2018-12-31 2018-09-30
Net Income 368,797,000 365,288,000 584,180,000 376,759,000
Depreciation 126,859,000 121,941,000 121,374,000 124,516,000
Changes in Receivables 0 0 0 0
Changes in Inventories 0 0 0 0
Cash Change 142,428,000 -142,616,000 -71,093,000 93,682,000
Cash Flow 541,610,000 473,584,000 483,167,000 692,353,000
Capital Expenditures -37,420,000 -33,601,000 -47,537,000 -35,888,000
Investments -181,372,000 -159,448,000 -104,283,000 -162,364,000
Investing Activity (Other) 0 0 0 0
Total Investing Cash Flows -218,792,000 -193,049,000 -151,820,000 -198,252,000
Dividends Paid -403,118,000 -404,490,000 -403,281,000 -403,246,000
Net Borrowings 496,419,000 -467,000 -455,000 -447,000
Cash Flow Financing -180,386,000 -423,201,000 -402,412,000 -400,263,000
Financing Cash Flows (Other) -1,730,000 -1,803,000 -1,760,000 -2,207,000
Exchange Rate Effect -4,000 50,000 -28,000 -156,000

About Public Storage


Public Storage, a member of the S&P 500 and FT Global 500, is a fully integrated, self-administered and self-managed real estate investment trust that primarily acquires, develops, owns and operates self-storage facilities. The Company’s headquarters are located in Glendale, California. At June 30, 2017, the Company had interests in 2,358 self-storage facilities located in 38 states with approximately 156 million net rentable square feet in the United States and 220 storage facilities located in seven Western European nations with approximately 12 million net rentable square feet operated under the “Shurgard” brand. The Company also owns a 42% common equity interest in PS Business Parks, Inc. (NYSE:PSB) which owned and operated approximately 28 million rentable square feet of commercial space, primarily flex, multi-tenant office and industrial space, at June 30, 2017.

REITRating™ Scorecard


Rating Dividend Section Avg. Rating
8 Dividend Payment Growth: Analysis of how the REIT’s dividend payments have performed during the last three years. 5.3
8 Dividend Payment Consistency: Analysis of how many periods the REIT’s dividends have been paid consistently without a gap in payment. 4.4
10 Dividend to FFO Core Payout Ratio Health: Analysis of the REIT’s Dividend to FFO Core Payout Ratios during the last four quarters. 8.8
9 Dividend to FFO Core Payout Ratio Trend: Analysis of the REIT’s Dividend to FFO Core Payout Ratios trend during the last two years. 7.5
9 FFO Core Trend: Analysis of the REIT’s FFO Core trend during the last two years. 8.7
Rating Leverage Section Avg. Rating
10 Interest Coverage Health: Analysis of the REIT’s Interest Coverage health during the last four quarter. 5.1
9 Interest Coverage Health Trend: Analysis of the REIT’s Interest Coverage health trend during the last two years. 5.9
10 Total Debt Interest Rate Competitiveness: Analysis of the REIT’s Interest Rate to Total Debt competitiveness compared to REIT market. 8.0
5 Total Debt Interest Rate Trend: Analysis of the REIT’s Interest Rate to Total Debt trend during the last two years. 7.3
10 Debt Leverage Health: Analysis of the REIT’s Total Debt to Total Assets. 5.2
10 Debt Leverage Health Trend: Analysis of the REIT’s Total Debt to Total Assets over the last two years. 7.0
Rating Asset & Revenue Section Avg. Rating
9 Revenues Growth: Analysis of how the REIT's Revenue has performed over the last two years. 6.9
6 Total Asset Growth: Analysis of how the REIT has grown its Total Assets over the last two years. 7.2
Rating Properties Section Avg. Rating
9 Occupancy Health Level: Analysis of the REIT’s occupancy health level during the last four quarters. 8.2
8 Occupancy Trend: Analysis of the REIT’s occupancy trend over the last two years. 8.3
9 Portfolio of Properties: Analysis of the REIT's property's strength, size, and geographic distribution. 8.1
8.7 Overall REITRating™ Score 6.6

REITRating is REITNote's Real Estate Investment Trust industry-specific rating and ranking system. The REIT’s score for each analysis is out of ten points, with ten being the best score and zero being the worst. A score of zero can be assigned if the REIT does not meet the criteria for that specific analysis. N/A is assigned if insufficient data is available for a particular analysis. Our REITRating logic is continuously improving, so a REIT’s rating and ranking may change over time. Important Note: REITRating is not a predictor of a REIT’s future performance, it is an evaluation of its past results. Additionally, the REITRating system is for informational purposes only and does not represent financial or investment advice or a recommendation of which REITs to acquire. Learn more.

Related REITs


REIT REITRating™ Score Exchange Market Capitalization Sector Country
PS Business Parks, Inc. (PSB) 8.3 NYSE Mid-Cap Office Industrial United States
Extra Space Storage, Inc. (EXR) 7.7 NYSE Large-Cap Self Storage United States
Life Storage, Inc. (LSI) 7.9 NYSE Mid-Cap Self Storage United States