Public Storage (PSA-PO)
ValueMarkers Composite Index
97% below intrinsic value ($495)
Public Storage (PSA-PO) — VMCI valuation read
Public Storage (PSA-PO) carries a VMCI composite of 60/100, 10 points above the Real Estate sector median of 50. Among mid-cap names, that gap places PSA-PO in the top third on the five-pillar weighting (Value 35%, Quality 30%, Integrity 15%, Growth 12%, Risk 8%).
The PSA-PO insider tape has been silent for the past 30 days on Form 4. Where executives neither buy nor sell, the bull and bear cases lean harder on filings cadence and the next earnings line.
**Investor frame.** Value reads PSA-PO trades at 24.0x earnings, 33% above the Real Estate median of 18.0x, which compresses or extends through the 11.0x EV/EBITDA versus a Real Estate 12.0x. Quality: ROIC of 10.0% sits 0.0pp above the Real Estate median (10.0%). Risk: net debt to EBITDA of 1.8x is the rate-sensitivity line to watch, the line to track on Public Storage's next 10-Q.
PSA-PO rose 2.0% over the trailing 7 days, with a -1.2% 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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