PSA Stock - Public Storage
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Financial Statements
| Metric | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 |
|---|---|---|---|---|---|
| Revenue | $4.70B | $4.52B | $4.18B | $3.42B | $2.92B |
| Gross Profit | $3.44B | $3.37B | $3.13B | $2.50B | $2.05B |
| Gross Margin | 73.2% | 74.6% | 74.8% | 73.0% | 70.2% |
| Operating Income | $2.20B | $2.32B | $2.17B | $1.71B | $1.41B |
| Net Income | $2.07B | $2.15B | $4.35B | $1.95B | $1.36B |
| Net Margin | 44.1% | 47.6% | 104.0% | 57.2% | 46.6% |
| EPS | $10.68 | $11.11 | $23.64 | $9.91 | $6.29 |
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.
Visit WebsiteRating Distribution
Price Targets
Recent Analyst Actions
| Date | Firm | Action | Rating | Price Target |
|---|---|---|---|---|
| December 18th 2025 | JP Morgan | Downgrade | Neutral | $301 |
| December 5th 2025 | Morgan Stanley | Resumed | Equal Weight | $290 |
| October 13th 2025 | Deutsche Bank | Upgrade | Buy | $325 |
| June 24th 2025 | BNP Paribas Exane | Initiation | Outperform | $331 |
| June 20th 2025 | BMO Capital Markets | Downgrade | Market Perform | $325 |
| April 22nd 2025 | BofA Securities | Upgrade | Buy | $368 |
| April 10th 2025 | Truist | Upgrade | Buy | - |
| April 9th 2025 | Scotiabank | Upgrade | Sector Outperform | $305 |
| January 10th 2025 | Deutsche Bank | Upgrade | Hold | $299← $298 |
| September 10th 2024 | RBC Capital Mkts | Initiation | Sector Perform | $358 |
| August 5th 2024 | BofA Securities | Downgrade | Neutral | $318 |
| August 1st 2024 | Truist | Downgrade | Hold | $306 |
| April 5th 2024 | Wells Fargo | Upgrade | Overweight | $310← $280 |
| March 28th 2024 | Raymond James | Upgrade | Strong Buy | $330 |
| March 27th 2024 | Barclays | Initiation | Overweight | $330 |
Earnings History & Surprises
PSAEPS Surprise History
Quarterly EPS Details
| Period | Report Date | Estimated EPS | Actual EPS | Surprise | Result |
|---|---|---|---|---|---|
Q2 2026 | Apr 28, 2026 | — | — | — | — |
Q1 2026 | Feb 23, 2026 | $4.24 | — | — | — |
Q4 2025 | Oct 29, 2025 | $4.24 | $4.31 | +1.7% | ✓ BEAT |
Q3 2025 | Jul 30, 2025 | $4.23 | $4.28 | +1.2% | ✓ BEAT |
Q2 2025 | Apr 30, 2025 | $4.06 | $4.12 | +1.5% | ✓ BEAT |
Q1 2025 | Feb 24, 2025 | $4.23 | $4.21 | -0.5% | ✗ MISS |
Q4 2024 | Oct 30, 2024 | $4.25 | $4.20 | -1.2% | ✗ MISS |
Q3 2024 | Jul 30, 2024 | $4.20 | $4.23 | +0.7% | ✓ BEAT |
Q2 2024 | Apr 30, 2024 | $4.07 | $4.03 | -1.0% | ✗ MISS |
Q1 2024 | Feb 20, 2024 | $4.15 | $4.20 | +1.2% | ✓ BEAT |
Q4 2023 | Oct 30, 2023 | $2.81 | $3.20 | +13.9% | ✓ BEAT |
Q3 2023 | Aug 2, 2023 | $2.91 | $3.00 | +3.1% | ✓ BEAT |
Q2 2023 | May 3, 2023 | $4.07 | $4.08 | +0.2% | ✓ BEAT |
Q1 2023 | Feb 21, 2023 | $3.99 | $4.16 | +4.3% | ✓ BEAT |
Q4 2022 | Nov 1, 2022 | $4.05 | $4.13 | +2.0% | ✓ BEAT |
Q3 2022 | Aug 4, 2022 | $2.54 | $3.42 | +34.6% | ✓ BEAT |
Q2 2022 | May 3, 2022 | $2.32 | $2.63 | +13.4% | ✓ BEAT |
Q1 2022 | Feb 22, 2022 | $2.17 | $3.17 | +46.1% | ✓ BEAT |
Q4 2021 | Nov 1, 2021 | $2.13 | $2.52 | +18.3% | ✓ BEAT |
Q3 2021 | Aug 3, 2021 | $2.93 | $3.15 | +7.5% | ✓ BEAT |
Latest News
JP Morgan Downgrades Public Storage to Neutral, Lowers Price Target to $301
📉 NegativeMizuho Maintains Neutral on Public Storage, Lowers Price Target to $285
➖ NeutralMorgan Stanley Reinstates Equal-Weight on Public Storage, Announces $290 Price Target
📈 PositiveEvercore ISI Group Maintains In-Line on Public Storage, Lowers Price Target to $309
➖ NeutralTruist Securities Maintains Buy on Public Storage, Lowers Price Target to $315
➖ NeutralEvercore ISI Group Maintains In-Line on Public Storage, Lowers Price Target to $315
➖ NeutralRBC Capital Maintains Sector Perform on Public Storage, Lowers Price Target to $307
➖ NeutralPublic Storage Raises FY2025 FFO Guidance from $16.45-$17.00 to $16.70-$17.00 vs $16.85 Est
📈 PositivePublic Storage Q3 2025 FFO $4.31 Beats $4.24 Estimate, Sales $1.139B Miss $1.210B Estimate
➖ NeutralWells Fargo Maintains Overweight on Public Storage, Raises Price Target to $330
📈 PositiveEvercore ISI Group Maintains In-Line on Public Storage, Raises Price Target to $317
📈 PositiveUBS Maintains Neutral on Public Storage, Lowers Price Target to $295
➖ NeutralEvercore ISI Group Maintains In-Line on Public Storage, Raises Price Target to $312
➖ NeutralScotiabank Maintains Sector Outperform on Public Storage, Lowers Price Target to $333
➖ NeutralReported Earlier, Ki Corporation and Public Storage End Acquisition Talks, Withdrawing Offer To Acquire Abacus Storage King Following Review
📉 NegativePublic Storage, Extra Space Storage upgraded on positive self-storage REITs sector view
📈 PositiveFrequently Asked Questions about PSA
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