Public Storage (PSA)

FairStock Score: 66/100 — STEADY

Key Financials

AI Analysis

AI-generated, general educational analysis — not personal investment advice.

I approach Public Storage as a landlord of small, unglamorous boxes. It owned and/or operated 3,584 self-storage facilities in 40 states with about 259 million net rentable square feet at June 30, 2026, plus a 35% common equity interest in Shurgard, which owned 335 facilities in seven Western European countries. Scale, local density and brand can create a modest moat in a commodity service. In the latest filed quarter, fiscal Q2 2026 ended 2026-06-30, revenue was $1.2 billion, net income $500.0 million and diluted EPS $2.55. In fiscal Q2 2025, net income was $358.4 million and diluted EPS $1.76, so profit recovered. But full-year FY2025, ended 2025-12-31, showed revenue of $4.8 billion, net income of $1.8 billion and diluted EPS of $9.01, versus FY2023 revenue of $4.5 billion, net income of $2.1 billion and diluted EPS of $11.06. Revenue edged up while per-share profit fell; FairStock's computed Lynch category is SLOW GROWER, citing 5.6% annual profit growth and 10.6% revenue growth over five years. Financial health is mixed: FairStock's Piotroski F-Score is 5/9, Altman Z-Score 2.85, debt-to-equity 1.10, FCF yield 5.6%, and dividend yield 4.05%. As a REIT, depreciation distorts EPS and P/E; the proper FFO/AFFO measures are not in the data, so I lean on dividend yield, leverage, revenue trend and price-to-book. At the 2026-10-13 close, FairStock's P/B is 10.46 and EV/EBITDA 17.11, which look full for slow growth, though PEG 0.70 and ROE 21.93% offer some offset. At $288.39, I see a fair-to-full price, not a bargain.

In plain English: Public Storage owns and rents self-storage units in the U.S. and owns part of a European storage company. It earns a lot of cash and pays a solid dividend, but profit per share has slipped from a few years ago while sales have grown only slowly. At the recent price, the shares look fair to a bit expensive compared with its earnings and accounting value.

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Data as of 2026-10-13 close · note generated 2026-10-15 · model deepseek-flash

Sources (SEC EDGAR): fiscal Q2 2026 10-Q (period ended 2026-06-30) · fiscal Q1 2026 10-Q (period ended 2026-03-31) · fiscal Q3 2025 10-Q (period ended 2025-09-30) · fiscal Q2 2025 10-Q (period ended 2025-06-30) · FY2025 10-K (period ended 2025-12-31) · FY2024 10-K (period ended 2024-12-31) · FY2023 10-K (period ended 2023-12-31)

Fundamentals from company filings and market-data providers; prices are end-of-day, not real-time. AI-generated analysis is general and educational — not personal investment advice. Scoring methodology · Score test · Disclaimer