California-based Public Storage (PSA) is a REIT that primarily acquires, develops, owns, and operates self-storage facilities and offers storage spaces for lease on a month-to-month basis for personal and business use. Valued at a market cap of $53.3 billion, the company also provides other related operations, including tenant reinsurance and third-party self-storage management.
Shares of this self-storage REIT have underperformed the broader market over the past 52 weeks. Public Storage has gained 6.5% over this time frame, while the broader S&P 500 Index ($SPX) has soared 17.6%. Moreover, on a YTD basis, the stock is up 1.3%, compared to SPX’s 1.7% rise.
