PSA
9/9 ScorePublic Storage
Analysis Date: March 22, 2026
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.
Buffettology Criteria
All 9 of 9 criteria passed
High ROE
Return on Equity > 12%
Value: 19.0%
High ROIC
Return on Invested Capital > 9%
Value: 13.0%
Cash Machine
FCF / Assets > 5%
Value: 0.14
Fair Valuation
Earnings Yield > 3.5%
Value: 3.8%
Share Buybacks
Share Count is Dropping
Value: 0.1%
Defensible Moat
Gross Profit Margin > 40%
Value: 60.5%
Simple Business
Not in a speculative sector (e.g., Biotech)
Value: Real Estate
Conservative Debt
Debt to Equity < 1.5
Value: 1.11x
Consistent Growth
5-Year Growth is Positive
Value: 30.8%
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