Public Storage (PSA-PL)
ValueMarkers Composite Index
96% below intrinsic value ($495)
Public Storage (PSA-PL) — VMCI valuation read
The headline on Public Storage (PSA-PL) is a 60/100 VMCI score, set against a Real Estate sector median of 50. That 10-point above-median read reflects the five-pillar weighting and, for a mid-cap name, suggests a relative-value tailwind is in the data.
PSA-PL insider activity report: 0 buys, 0 sells filed via Form 4 over the past 30 days. The next datable items are the 10-Q schedule and any 8-K-triggering events; both feed the VMCI Integrity pillar more than the price tape.
**Investor frame.** PSA-PL trades at 19.0x earnings, 6% above the Real Estate median of 18.0x sets the value side. ROIC of 11.0% sits 1.0pp above the Real Estate median (10.0%) sets the quality side. Net debt to EBITDA of 0.5x leaves covenant headroom sets the risk side, the three lines a value buyer reads first on PSA-PL.
PSA-PL fell 1.9% over the trailing 7 days, with a +7.5% read on a 30-day basis.
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.
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