Valued at a market cap of $59.9 billion, Public Storage (PSA) is a leading real estate investment trust (REIT) specializing in self-storage facilities. As the largest operator in the sector, the California-based company acquires, develops, and manages storage spaces for personal and business use across the U.S. and Europe.
Shares of this self-storage facility REIT have underperformed the broader market over the past 52 weeks. PSA has rallied 22.9% over this time frame, while the broader S&P 500 Index ($SPX) has increased 27.5%. In 2024, shares of PSA are up 11.4%, compared to SPX’s 17.8% gain on a YTD basis.
