Public Storage | REIT Profile

Symbol: PSA
CIK: 1393311
Exchange: NYSE
Founded: 1972 (49 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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See PSA on SEC.gov

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Overall Score: 8.7

See score breakdown | See trend

REITRating is REITNote's Real Estate Investment Trust industry-specific rating and ranking system. The overall score is out of ten points, with ten being the best score. Learn More


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Hightlights of Trading Day October 14, 2021


Open Price: $318.9
Closing Price: $325.88
Price Change: 8.56 (2.698%)
Lowest Price: $317.02
Highest Price: $326.18

52-Week Low: $207.75
52-Week High: $330.88
52-Week Change: 40.10%

5 Day Price Change: 5.28%
1 Month Price Change: -0.59%
3 Month Price Change: 2.91%
6 Month Price Change: 20.43%
YTD Price Change: 40.37%
1 Year Price Change: 38.97%
2 Year Price Change: 38.28%
5 Year Price Change: 77.32%

Dividend of Trading Day October 14, 2021


Dividend Yield: 2.455%*
Annualized Dividend: $8*
Dividend Yield (TTM): 2.496%
Annualized Dividend (TTM): $7.9195
Ex-Dividend Date: 2021-09-14
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. This graph does not include extraordinary dividend.

Latest News Headlines


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Funds From Operations (FFO)


Funds From Operations (FFO)

Key Stats of Trading Day October 14, 2021


Total Cash: $480,810,000
Current Debt: $731,642,000
Revenue: $3,086,278,000
Gross Profit: $2,216,284,000
Total Revenue: $3,086,278,000
Earnings Before Interest, Taxes & Depreciation Amortization (EBITDA): $2,230,503,000
Revenue Per Share: $18
Revenue Per Employee: $561,141
Employee: 5,400
Debt to Equity Ratio (D/E): 1.66
Profit Margin: 0.41%
Enterprise Value (EV): $60,443,236,703
Enterprise Value to Revenue (EV/R): 19.58
Price to Sales (P/S): 18.02
Price to Book (P/B): 11.41
Peg Ratio: 11.95
P/E Ratio: 44.83
P/E High: 16.30
P/E Low: 9.31
Forward P/E Ratio: 38.72
Market Capitalization: $57,103,380,481
Beta: 0.27
Latest Volume: 755,667.00
Avg. Total Volume: 701,658
Avg. 10 Volume: 593,689.00
Avg. 30 Volume: 701,658.00
TTM EPS: 7.27
TTM Dividend Rate: 7.92
Shares Outstanding: 175,228,245
Float: N/A
50-Day Moving Avg.: 311.73
200-Day Moving Avg.: 294.28

Latest REIT Community Comments on #PSA


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Properties Owned by PSA


Properties Based on REIT's Official Presentation

Properties Types States Countries
2,358 1 38 1

Please visit REIT’s official webpage for the most up-to-date property list.

PSA Sample Property

Sample of REIT’s Properties. Image Source - REIT’s website


Properties Based on Earnings Report's 10-K

Occupancy Rate



Different REITs may report Occupancy levels in various forms/calculations. Some of the terms used to describe occupancy are Portfolio Occupancy, Weighted Average Occupancy, Ending Occupancy, Economic Occupancy, Leased Occupancy, Physical Occupancy, Pro Forma Occupancy, Same-Property Occupancy, Stabilized Portfolio Occupancy, Comparable Occupancy, Lease Rate, Percent Leased, among others. Some REITs interchange the words Occupancy and Leased while others use them to distinguish between data points. Some REITs also vary the use of the words over time through their earning reports. Therefore the information provided here is our best attempt at collecting data on occupancy/leased trends. However, it may not be accurate or comparable between different REITs.

REIT Simulation


Below is a simulation of how much money you would have made in dividends, and how much the shares would be worth had you purchased them 1 year ago for the amounts below.

With $1,000 USD With $500 USD With $250 USD With $100 USD With $50 USD
Initial investment @ $210.84 per share you would have been able to buy 4 shares of PSA on 2020-10-15 costing $843.36 @ $210.84 per share you would have been able to buy 2 shares of PSA on 2020-10-15 costing $421.68 @ $210.84 per share you would have been able to buy 1 shares of PSA on 2020-10-15 costing $210.84 @ $210.84 per share you would have been able to buy 0 shares of PSA on 2020-10-15 costing $0.00 @ $210.84 per share you would have been able to buy 0 shares of PSA on 2020-10-15 costing $0.00
Current worth On 2021-10-14 these 4 shares would be worth $1,303.52 @ $325.88 On 2021-10-14 these 2 shares would be worth $651.76 @ $325.88 On 2021-10-14 these 1 shares would be worth $325.88 @ $325.88 On 2021-10-14 these 0 shares would be worth $0.00 @ $325.88 On 2021-10-14 these 0 shares would be worth $0.00 @ $325.88
Dividends earned $32.00 in dividends would have been earned since 2020-10-15 with 4 shares. $16 in dividends would have been earned since 2020-10-15 with 2 shares. $8.00 in dividends would have been earned since 2020-10-15 with 1 shares. $0.00 in dividends would have been earned since 2020-10-15 with 0 shares. $0.00 in dividends would have been earned since 2020-10-15 with 2 shares.
Net (gain / loss)* 492.16 USD 246.08 USD 123.04 USD 0.00 USD 0.00 USD
ROI** 58.36% 58.36% 58.36% nan% nan%

*Net (Gains/Loss): Includes the stock price (appreciate or depreciate ) + dividends earned during period held. Stock prices based on closing price for the date. **ROI: Is based on the Net (gain/loss) divided by the initial investment value. Note: Past performance is no guarantee of future results. This is a high-level simulation and does not account for many factors such as inflation and taxes so we cannot guarantee the accuracy of this simulation.

Dividend History


Below are the most recent cash dividends paid by PSA. The percent difference from one dividend payment to the next has also been calculated for your convenience. Dividends flagged as [E] are extraordinary dividend payments.


Symbol Ex Date Cash Amount Change in Dividend Declaration Date Record Date Payment Date
PSA 2021-09-14 2.000 --- 2021-08-03 2021-09-15 2021-09-30
PSA 2021-06-14 2.000 --- 2021-04-28 2021-06-15 2021-06-30
PSA 2021-03-15 2.000 --- 2021-02-16 2021-03-16 2021-03-31
PSA 2020-12-14 2.000 --- 2020-11-04 2020-12-15 2020-12-30
PSA 2020-09-14 2.000 --- 2020-08-03 2020-09-15 2020-09-30
PSA 2020-06-12 2.000 --- 2020-04-21 2020-06-15 2020-06-30
PSA 2020-03-13 2.000 --- 2020-02-21 2020-03-16 2020-03-31
PSA 2019-12-12 2.000 --- 2019-10-23 2019-12-13 2019-12-30
PSA 2019-09-11 2.000 --- 2019-07-24 2019-09-12 2019-09-27
PSA 2019-06-11 2.000 --- 2019-05-01 2019-06-12 2019-06-27
PSA 2019-03-12 2.000 --- 2019-02-26 2019-03-13 2019-03-28
PSA 2018-12-11 2.000 --- 2018-10-30 2018-12-12 2018-12-27
PSA 2018-09-11 2.000 --- 2018-08-01 2018-09-12 2018-09-27
PSA 2018-06-12 2.000 --- 2018-04-25 2018-06-13 2018-06-28
PSA 2018-03-13 2.000 --- 2018-02-20 2018-03-14 2018-03-29
PSA 2017-12-12 2.000 --- 2017-10-25 2017-12-13 2017-12-28
PSA 2017-09-12 2.000 --- 2017-07-26 2017-09-13 2017-09-28
PSA 2017-06-12 2.000 --- 2017-04-26 2017-06-14 2017-06-29
PSA 2017-03-13 2.000 --- 2017-02-22 2017-03-15 2017-03-30
PSA 2016-12-12 2.000 11.11% 2016-10-26 2016-12-14 2016-12-29

Financial Statements Overview


Balance Sheet | Quarterly

See Annual Balance Sheet | See Quarterly Balance Sheet

Amounts in USD ($)

Balance Sheet 2021-06-30 2021-03-31 2020-12-31 2020-09-30
Current Cash 480,810,000 159,622,000 257,560,000 293,955,000
Receivables 0 0 0 0
Inventory 0 0 0 0
Current Assets 480,810,000 159,622,000 257,560,000 293,955,000
Current Assets (Other) 0 0 0 0
Short Term Investments 0 0 0 0
Long-term Investments 14,009,555,000 11,822,113,000 11,558,986,000 11,091,193,000
Property, Plant & Equipment Net 12,791,988,000 10,559,664,000 10,408,571,000 9,947,322,000
Goodwill 0 0 0 0
Intangible Assets 265,486,000 205,061,000 204,654,000 204,700,000
Other Assets 184,167,000 286,313,000 172,715,000 169,248,000
Net Tangible Assets 4,606,848,000 4,600,386,000 4,561,713,000 4,589,427,000
Total Assets 14,490,365,000 11,981,735,000 11,816,546,000 11,385,148,000
Accounts Payable 0 0 0 0
Liabilities (Other) 0 0 0 0
Current Liabilities (Other) 406,642,000 368,309,000 694,655,000 433,524,000
Total Current Liabilities 731,642,000 368,309,000 694,655,000 433,524,000
Current Long-term Debt 325,000,000 0 0 0
Long-term Debt 4,995,620,000 2,996,111,000 2,544,992,000 2,499,570,000
Total Liabilities 5,746,781,000 3,383,788,000 3,257,679,000 2,951,021,000
Minority Interest 19,519,000 19,368,000 18,032,000 17,927,000
Common Stock 174,824,000 174,611,000 174,534,000 5,724,421,000
Retained Earnings -863,742,000 -877,931,000 -914,791,000 -867,950,000
Treasury Stock 0 0 0 0
Capital Surplus 0 0 0 0
Shareholder Equity 8,743,584,000 8,597,947,000 8,558,867,000 8,434,127,000

Income Statement | Quarterly

See Annual Income Statement | See Quarterly Income Statement

Amounts in USD ($)

Income Statement 2021-06-30 2021-03-31 2020-12-31 2020-09-30
Total Revenue 829,315,000 767,262,000 759,044,000 730,657,000
Cost of Revenue 218,586,000 228,423,000 205,524,000 217,461,000
Gross Profit 610,729,000 538,839,000 553,520,000 513,196,000
Research and Development 0 0 0 0
Selling General and Admin 27,740,000 19,574,000 20,553,000 21,288,000
Operating Expense 419,054,000 394,856,000 367,483,000 377,082,000
Operating Income 410,261,000 372,406,000 391,561,000 353,575,000
Income Expense Net (Other) 3,113,000 2,852,000 2,799,000 7,214,000
EBIT 442,440,000 394,714,000 411,994,000 382,029,000
Interest Income 21,994,000 15,250,000 14,235,000 14,282,000
Pretax Income 411,730,000 434,262,000 352,432,000 325,847,000
Income Tax 0 0 0 0
Minority Interest 1,304,000 1,226,000 1,165,000 980,000
Net Income 346,249,000 385,810,000 292,166,000 246,916,000
Net Income Basic 346,249,000 385,810,000 292,166,000 246,916,000

Cash Flow | Quarterly

See Annual Cash Flow | See Quarterly Cash Flow

Amounts in USD ($)

Cash Flow 2021-06-30 2021-03-31 2020-12-31 2020-09-30
Net Income 346,249,000 385,810,000 292,166,000 246,916,000
Depreciation 172,728,000 146,859,000 553,257,000 411,851,000
Changes in Receivables 0 0 0 0
Changes in Inventories 0 0 0 0
Cash Change 480,810,000 159,622,000 -36,395,000 -974,520,000
Cash Flow 621,293,000 509,162,000 2,042,902,000 1,530,340,000
Capital Expenditures -2,369,343,000 -239,659,000 -359,411,000 -265,445,000
Investments 0 0 0 0
Investing Activity (Other) 0 0 0 0
Total Investing Cash Flows -2,315,979,000 -403,725,000 -1,117,714,000 -528,151,000
Dividends Paid 0 0 0 0
Net Borrowings 4,839,810,000 2,836,489,000 2,287,432,000 2,205,615,000
Cash Flow Financing 2,015,882,000 -202,971,000 -1,075,716,000 -1,116,843,000
Financing Cash Flows (Other) 0 0 0 0
Exchange Rate Effect 0 0 0 0

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
3 Dividend Payment Growth: Analysis of how the REIT’s dividend payments have performed during the last three years. 3.8
10 Dividend Payment Consistency: Analysis of how many periods the REIT’s dividends have been paid consistently without a gap in payment. 6.4
9 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
8 Dividend to FFO Core Payout Ratio Trend: Analysis of the REIT’s Dividend to FFO Core Payout Ratios trend during the last two years. 7.7
Rating AFFO & Efficiency Section Avg. Rating
10 FFO Core Trend: Analysis of the REIT’s FFO Core trend during the last two years. 7.8
8 FFO Core to Revenue Health: Analysis of the REIT's Adjusted Funds From Operation to its Revenues. 6.8
10 Operating Expense Efficiency: Analysis of the REIT's Operating Expenses to its Revenues. 8.7
10 Operating Expense Efficiency Trend: Analysis of the trend of the REIT's Operating Expenses to its Revenue. 9.2
Rating Leverage Section Avg. Rating
10 Interest Coverage Health: Analysis of the REIT’s Interest Coverage health during the last four quarter. 7.4
10 Interest Coverage Health Trend: Analysis of the REIT’s Interest Coverage health trend during the last two years. 8.9
10 Total Debt Interest Rate Competitiveness: Analysis of the REIT’s Interest Rate to Total Debt competitiveness compared to REIT market. 7.9
6 Total Debt Interest Rate Trend: Analysis of the REIT’s Interest Rate to Total Debt trend during the last two years. 8.4
9 Debt Leverage Health: Analysis of the REIT’s Total Debt to Total Assets. 4.9
9 Debt Leverage Health Trend: Analysis of the REIT’s Total Debt to Total Assets over the last two years. 6.7
Rating Asset & Revenue Section Avg. Rating
9 Revenues Growth: Analysis of how the REIT's Revenue has performed over the last two years. 5.3
8 Total Asset Growth: Analysis of how the REIT has grown its Total Assets over the last two years. 6.0
Rating Properties Section Avg. Rating
9 Occupancy Health Level: Analysis of the REIT’s occupancy health level during the last four quarters. 7.1
10 Occupancy Trend: Analysis of the REIT’s occupancy trend over the last two years. 6.3
9 Portfolio of Properties: Analysis of the REIT's property's strength, size, and geographic distribution. 8.2
10 Tenants: Analysis of the REIT's tenant diversification, operation type, and exposure to risk. 7.9
Rating Market Cap Section Avg. Rating
7 Market Cap Strength: Analysis of the REIT's Market Capitalization performance, preservation and resistance in comparison to market changes. 5.6
8.7 Overall REITRating™ Score (See trend) 6.2

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) 8.2 NYSE Mid-Cap Office Industrial United States
Extra Space Storage, Inc. (EXR) 8.9 NYSE Large-Cap Self Storage United States
Life Storage, Inc. (LSI) 8.0 NYSE Large-Cap Self Storage United States

Last updated: 2021-10-15 - v1.9