With a market cap of $59.1 billion, Public Storage (PSA) is the largest owner and operator of self-storage facilities in the United States, offering month-to-month storage solutions for personal and business use. The Glendale, California-based company operates over 3,000 facilities across 40 states and holds a 35% stake in Shurgard Self Storage, which manages 281 facilities in Western Europe.
Shares of Public Storage have slightly outperformed the broader market over the past 52 weeks. PSA has risen 32.5% over this time frame, while the broader S&P 500 Index ($SPX) has rallied 31%. However, in 2024, shares of PSA are up 10.7%, lagging behind SPX’s 25.2% gain on a YTD basis.
