Public Storage

Public Storage is a REIT that acquires, develops, and operates self-storage facilities. As of December 31, 2023, it has interests in 3,044 US facilities with approximately 218 million net rentable square feet. It also has a 35% equity stake in Shurgard Self Storage Limited, which owns 275 Western European facilities with around 15 million net rentable square feet.

Overview

Sector

REIT

Target Price

97.5 USD

Current Price

289.1 USD

Potential

-66%

Strengths

The company has high returns. ROIC (16.41%) is higher than the sector mean (11.74%).
Strong EBITDA Margin of 72.70%.

Weaknesses

With a depreciation Potential of -66.24%, based on our fundamental analysis, it suggests the stock may be overvalued.
Price to book ratio (5.22) is significantly higher than the sector mean (3.55).
Analysts expect revenues to decline in the coming year.

Key Financial Data

Indicator	Value
PER	24.5
EV/EBITDA	17.5
Price/Free Cash Flow'	18.7
ROIC	16.4%
Net Debt/EBITDA	2.6