PSA
Public StorageEvidence as of 2026-10-09The desk's Snapshot
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Overview · Public Storage
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 December 31, 2022, we had: (i) interests in 2,869 self-storage facilities located in 40 states with approximately 204 million net rentable square feet in the United States and (ii) a 35% common equity interest in Shurgard Self Storage Limited (Euronext Brussels:SHUR),…
Management team
- Mr. Nathaniel A. Vitan · Senior VP, Chief Legal Officer & Corporate SecretaryFind on LinkedIn
- Ms. Natalia N. Johnson · Senior VP & Chief Administrative OfficerFind on LinkedIn
- Rear Admiral Christopher C. Sambar · Senior VP & COOFind on LinkedIn
- Mr. H. Thomas Boyle III · Senior VP, Chief Investment Officer & CFOFind on LinkedIn
Start free to see the full management team.
Links open LinkedIn searches, not verified profiles. Team data from our market-data vendor's company profile.
Moneyta sentiment
Where the published evidence leans after the desk debated it, not a rating or a recommendation.
−0.5 on a −2 to +2 scale.
What builds the score
Solid bars are analyst rubric scores; faded bars are computed directly from data. Claims dropped in debate count for nothing; weakened claims count at half weight.
Editor's note
Written after the debate settled. The rest of the page is the evidence behind it.
The evidence balance remains Cautious ( -0.5 of a possible +2 ) with high confidence. Revenues held roughly steady across the reported periods: $1,201,094,000 in fiscal Q2 2025 (2025-07-23), $1,224,043,000 in fiscal Q3 2025 (2025-10-22), $1,217,741,000 in fiscal Q1 2026 (2026-04-20), and $1,232,881,000 in fiscal Q2 2026 (2026-07-21). Net income and diluted EPS show stronger quarterly variation—net income was $358,419,000 in fiscal Q2 2025, $511,063,000 in fiscal Q3 2025, $526,273,000 in fiscal Q1 2026, and $499,960,000 in fiscal Q2 2026, with diluted EPS of $1.76, $2.62, $2.71, and $2.55 over those same fiscal quarters respectively.
Balance-sheet and market metrics anchor the picture: long-term debt declined into March 2026 and rose to $10,180,215,000 as of 2026-06-30, net cash and equivalents were $259,936,000 on 2026-06-30, market capitalization is $50,143,346,180 on price 285.52 (price date 2026-10-08), EV/EBITDA (ttm) is 19.65 with EBITDA (ttm) $3,057,024,000, and P/E (ttm) is 29.62 with EPS (ttm) 9.64. The company’s trailing twelve‑month dividend yield is +4.20% (89th percentile of the 881-stock universe), while price momentum and moving-average position show recent softness: 3‑month momentum -10.9%, price is below the 50‑ and 200‑day SMAs on 2026-10-08 even though a golden_cross flag is true.
How this note was made
every stage ran before the note was writtenAnalyst desk
Mercer, Oakes, Nash, Ellis, Yates, Talbot and Archer. The desk: named AI agents, not people. Each reads one slice of the evidence and nothing else (no outside knowledge, no browsing), so every finding traces to a source you can open.
Reads the XBRL figures companies file with the SEC (revenue, margins, income, debt and share count, quarter by quarter) and reports which way the trend is running.
Revenues were $1,201,094,000 in fiscal Q2 2025 (2025-04-01 to 2025-06-30), $1,224,043,000 in fiscal Q3 2025 (2025-07-01 to 2025-09-30), $1,217,741,000 in fiscal Q1 2026 (2026-01-01 to 2026-03-31), and $1,232,881,000 in fiscal Q2 2026 (2026-04-01 to 2026-06-30).
XBRL companyfacts · 0001628280-26-050612Net income was $358,419,000 in fiscal Q2 2025 (2025-04-01 to 2025-06-30), $511,063,000 in fiscal Q3 2025 (2025-07-01 to 2025-09-30), $526,273,000 in fiscal Q1 2026 (2026-01-01 to 2026-03-31), and $499,960,000 in fiscal Q2 2026 (2026-04-01 to 2026-06-30).
XBRL companyfacts · 0001628280-26-050612Reads the filings themselves, above all the year-over-year diff of Item 1A risk factors: which risks a company added, dropped or quietly reworded since its last annual report.
Which filings the desk reads
The desk reads the annual 10-K in full: its risk factors, and how they changed since last year. Quarterly 10-Qs and event filings (8-Ks, insider Form 4s) are listed for context but not read line by line: the 10-K is where the material risk disclosures live. A brand-new company, or one we have only just begun tracking, may have no annual report on file yet; its risk analysis fills in once that lands.
The Company added a risk factor about natural disasters and business interruption noting that such events "have in the past and may in the future adversely impact our business and financial results" and that damage and business interruption losses could exceed insurance limits (10-K filed February 12, 2026).
Item 1A risk-factor diff · 0001628280-26-007696 vs 0001393311-25-000036The Company added or broadened risk language (filed February 12, 2026) highlighting increased development risks for self-storage projects, including delays, cost increases, failure to meet regulatory requirements, and that newly developed self-storage space is generally not pre-leased which can cause delayed rent-up and reduced cash-flow yields.
Item 1A risk-factor diff · 0001628280-26-007696 vs 0001393311-25-000036Reads the signal panel above (momentum, volatility, drawdown, relative strength and beta) and ranks each against the whole research universe rather than judging it in isolation.
PSA's trailing twelve-month dividend yield is +4.20% and its dividend yield ranks in the 89th percentile of the 881-stock research universe on 2026-10-08.
Moneyta signal set · 2026-10-08Price momentum over the past 3 months is -10.9% and over the past 6 months is -2.6%, with the 6-month momentum ranked in the 38th percentile of the 881-stock research universe on 2026-10-08.
Moneyta signal set · 2026-10-08weakened in debateReads which funds hold the name and at what weight, plus insider Form 4 filings, to show the exposure you may already carry through index funds.
Institutional 13F-reported holdings totaled "$44.62B" as of 2026-06-30, with reported aggregate value rising 24.1% quarter-over-quarter and 1132 institutional holders listed.
13F holdings · 1132 filers · as of 2026-06-30Top reported institutional holders include BlackRock, Inc. at "$5.50B", VANGUARD PORTFOLIO MANAGEMENT LLC at "$4.33B", and VANGUARD CAPITAL MANAGEMENT LLC at "$3.29B" (13F data as of 2026-06-30).
13F holdings · 1132 filers · as of 2026-06-30Reads recent headlines that are genuinely about this company, ignoring rating chatter and market-wide stories. Findings argue in the debate but never move the sentiment score.
Two outlets ran direct peer-comparison headlines framed as “Public Storage (PSA) vs. Extra Space (EXR)” on 8 October 2026, indicating media attention focused on how PSA stacks up against a major industry peer.
News · insidermonkey.com · 2026-10-08A similar peer-comparison piece with the same framing appeared on a different outlet on 8 October 2026, showing the comparison theme was carried by multiple distinct outlets on the same day.
News · finance.yahoo.com · 2026-10-08Reads parsed Forms 3/4/5: who bought or sold, at what size, and whether a 10b5-1 plan was involved. Flags clustered open-market officer buying; treats plan sales as routine and never counts a fund or 10%-holder as an officer.
Insiders reported aggregate sales totaling "$772k" and aggregate purchases totaling "$0" over the 180-day window; net shares reported were "-2364".
Form 4 · Vitan Nathaniel A. (Chief Legal Officer) · $463k sold · 2026-08-13Nathaniel A. Vitan, Chief Legal Officer, reported a sale of "1414" shares valued at "$463k" on 2026-08-13.
Form 4 · Vitan Nathaniel A. (Chief Legal Officer) · $463k sold · 2026-08-13Reads the implied-expectations math built from the company's own filings (the growth rate today's price would justify, and the multiples beside it) and argues whether the market's bar looks high or low for this business. Never turns the math into a target.
As of the price date 2026-10-08, the share price used is 285.52 and the market capitalization is 50,143,346,180.
Valuation inputs · SEC XBRL + stored EOD closeEnterprise value is reported as 60,063,625,180 and EV/EBITDA (ttm) is 19.65, with EBITDA (ttm) of 3,057,024,000.
Valuation inputs · SEC XBRL + stored EOD closeDebate and risk review
A bull and a bear contest the claims and the chair rules on each; the risk review stress-tests what survived.
A bull and a bear argue the analysts' claims across two rounds, then a chair rules on each one. Only what survives feeds the score. The argument is shown, not hidden, so you can judge the reasoning yourself.
Public Storage’s reported operating metrics and transaction-level evidence together support a constructive read: revenues and diluted EPS have been consistently high and stable across four recent quarters (fundamentals-0, fundamentals-2), net income levels are elevated (fundamentals-1), and the July 2026 merger materially increases scale to ~4,500 locations and ~327 million rentable square feet (filings-5). Market signals show an attractive income profile with a high trailing dividend yield relative to the research universe and low beta/low correlation to the market, suggesting income-focused investors may value the stock differently than momentum-based screens (market-0, market-5). Institutional reported holdings rose sharply quarter-over-quarter and the roster of large holders (ownership-0, ownership-1) provides corroborating demand from long-term holders. The bearish points—broadened risk disclosures, leadership succession language, recent insider sales, and compressed price momentum/valuation multiples—are documented but are either standard risk-language additions tied to size and transactions (filings-0 through filings-3) or reflect market/price dynamics rather than a deterioration of the company’s recent operating cash generation (valuation-4), making them less persuasive against the combination of scale, income profile, and institutional accumulation.
Chair's verdict, claim by claim
Fragility · computed, not argued
balanced0.36
41 surviving claims rest on 16 distinct sources; the heaviest analyst carries 17% of them, and 98% of what the desk raised survived the debate.
The read rests on a moderate breadth of documentary sources but a relatively concentrated analyst influence and very high survival through debate, so these claims carry informative signal yet limited robustness. Source concentration and a single analyst accounting for a notable share of claims mean the set is somewhat sensitive to a small number of inputs; strong survival through debate suggests few internal challenges but also that alternative interpretations may be under‑represented.
Peer context · computed, not argued
12-1 momentum ranks 4th of 5 in REIT—Industrial (as of 2026-10-08).
90-day volatility ranks 2nd of 5 in REIT—Industrial (as of 2026-10-08).
dividend yield ranks 2nd of 5 in REIT—Industrial (as of 2026-10-08).
Disconfirming evidence · base rates · falsifiers
Context
Outside consensus, and where this name already sits in your own portfolio.
Third-party consensus shown for context. It never enters Moneyta sentiment. When the two diverge, the debate above is where the why lives.
What this was built from
Every figure on this page traces to one of these. The desk reads only what is listed here (no outside knowledge, no browsing), and each card shows who read it and what it contributed to the score.
11 filings· 2 cited
SEC XBRL filings
Quarterly figures as filed with the SEC, read straight from EDGAR's structured data, not retyped or estimated.
Read by Mercer−0.1 to the score
13 documents· 2 cited
SEC filing documents
The filings themselves, including the year-over-year comparison of Item 1A risk factors.
Read by Oakes−0.4 to the score
1 signal set
Moneyta signal set
Computed from our own end-of-day price history and ranked against the whole research universe. No AI involved.
Read by Nash+0.3 to the score
3 holdings records· 1 cited
Fund holdings
Which funds hold this name and at what weight, plus insider Form 4 filings.
Read by Ellis+0.5 to the score
8 headlines· 2 cited
News coverage
Recent headlines about this company, rating chatter excluded and nothing published after the report date.
Read by Yatesnothing survived
7 filings· 1 cited
Insider filings
Parsed Forms 3/4/5 from EDGAR: named insiders, share counts, prices, and 10b5-1 plan state, with stated and inferred flags kept apart.
Read by Talbot−1.2 to the score
1 computation
Valuation inputs
TTM cash-flow figures from the company's own XBRL filings, priced with the stored closing price. Implied growth and multiples only; no fair-value dollar figure reaches the desk, by design.
Read by Archercontext only
1 record· 0 cited
Company profile
Sector, industry and company details.
1 record· 0 cited
Analyst consensus
Third-party consensus, shown for context only; it never enters Moneyta sentiment.
Read means we pulled and handed it to an analyst; cited means a claim on this page points at it. Reading twelve quarters to state one trend is normal; the gap is shown rather than hidden.
Written by AI, checked against sources
The analysts, the bull–bear debate and the editor's note are AI agents reading only the evidence listed on this page. They can misread a filing or a headline, which is why every claim cites a source you can open and check yourself. The sentiment score is arithmetic over the claims that survived the debate, not a language model's opinion.
Educational analysis of published data. Moneyta does not give investment advice or make recommendations. Past patterns do not indicate future results.
The full terminal on PSA Gold
Who holds it, who's buying, what the Street thinks: live behind the lock, updated as filings land.
Institutional holders
Net institutional flow, Q/Q
Largest holder position
Insider buys, 90 days
Clustered insider value
Street target range
The real figures are for members. Educational analysis, not advice.
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Educational analysis of published data. Moneyta does not give investment advice or make recommendations.