PSA
Public Storage
REIT - Industrial
Market Cap$52.46B
5Y Perf.+52.4%
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Stock Comparison
PSA vs EXR
Revenue, margins, valuation, and 5-year total return — side by side.
EXR
Extra Space Storage Inc.
REIT - Industrial
Market Cap$29.52B
5Y Perf.+48.1%
PSA vs EXR — Key Financials
Market cap, revenue, margins, and valuation side-by-side.
| Company Snapshot | PSA | EXR |
|---|---|---|
| Industry | REIT - Industrial | REIT - Industrial |
| Market Cap | $52.46B | $29.52B |
| Revenue (TTM) | $4.86B | $3.38B |
| Net Income (TTM) | $1.90B | $974M |
| Gross Margin | 60.6% | 28.4% |
| Operating Margin | 50.8% | 44.1% |
| Forward P/E | 31.3x | 30.1x |
| Total Debt | $10.25B | $14.97B |
| Cash & Equiv. | $318M | $139M |
PSA vs EXR — Long-Term Stock Performance
Price return indexed to 100 at period start. Dividends excluded.
PSA
EXR
| Stock | May 20 | May 26 | Return |
|---|---|---|---|
| Public Storage (PSA) | 100 | 152.4 | +52.4% |
| Extra Space Storage… (EXR) | 100 | 148.1 | +48.1% |
Price return only. Dividends and distributions are not included.
Quick Verdict: PSA vs EXR
Each card shows where this stock fits in a portfolio — not just who wins on paper.
Bottom line: PSA leads in 5 of 7 categories, making it the strongest pick for growth and revenue expansion and profitability and margin quality. Extra Space Storage Inc. is the stronger pick specifically for valuation and capital efficiency and dividend income and shareholder returns. As sector peers, any of these can serve as alternatives in the same allocation.
PSA
Public Storage
The Real Estate Income Play
PSA carries the broadest edge in this set and is the clearest fit for income & stability and growth exposure.
- Dividend streak 1 yrs, beta 0.51, yield 4.4%
- Rev growth 2.7%, EPS growth -15.3%, 3Y rev CAGR 4.9%
- Lower volatility, beta 0.51, current ratio 0.75x
Best for: income & stability and growth exposure
EXR
Extra Space Storage Inc.
The Real Estate Income Play
EXR is the clearest fit if your priority is long-term compounding and defensive.
- 106.5% 10Y total return vs PSA's 55.6%
- Beta 0.52, yield 4.6%, current ratio 1.28x
- Lower P/E (30.1x vs 31.3x)
Best for: long-term compounding and defensive
See the full category breakdown
| Category | Winner | Why |
|---|---|---|
| Growth | PSA | 2.7% FFO/revenue growth vs EXR's 1.2% |
| Value | EXR | Lower P/E (30.1x vs 31.3x) |
| Quality / Margins | PSA | 39.2% margin vs EXR's 28.8% |
| Stability / Safety | PSA | Beta 0.51 vs EXR's 0.52 |
| Dividends | EXR | 4.6% yield, vs PSA's 4.4% |
| Momentum (1Y) | PSA | +3.5% vs EXR's -2.1% |
| Efficiency (ROA) | PSA | 9.4% ROA vs EXR's 3.3%, ROIC 8.9% vs 3.9% |
PSA vs EXR — Revenue Breakdown by Segment
How each company's revenue is distributed across its business units
FY 2025
FY 2025
PSA vs EXR — Financial Metrics
Side-by-side numbers across 2 stocks — who leads on profitability, valuation, growth, and risk.
BEST OVERALLPSALAGGINGEXR
EXRExtra Space Storage I…
1leads
PSAPublic Storage
4leads
6 Total Categories
CATEGORYLEADERvs EXRMETRICS WON
Income & Cash FlowRevenue, margins, and cash flow strength
PSA5/6
Valuation MetricsMultiples, price ratios, and targets
EXR5/7
Profitability & EfficiencyROE, ROIC, leverage, and quality scores
PSA7/8
Total Returns1Y, 3Y, 5Y total returns with dividends
PSA5/6
Risk & VolatilityBeta, volatility, and downside exposure
PSA2/2
Analyst OutlookRatings, price targets, and dividends
Tied
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Income & Cash Flow (Last 12 Months)
PSA leads this category, winning 5 of 6 comparable metrics.
Income & Cash Flow (Last 12 Months)
PSA and EXR operate at a comparable scale, with $4.9B and $3.4B in trailing revenue. PSA is the more profitable business, keeping 39.2% of every revenue dollar as net income compared to EXR's 28.8%. On growth, EXR holds the edge at +9.3% YoY revenue growth, suggesting stronger near-term business momentum.
| Metric | PSAPublic Storage | EXRExtra Space Stora… |
|---|---|---|
| RevenueTrailing 12 months | $4.9B | $3.4B |
| EBITDAEarnings before interest/tax | $3.6B | $2.2B |
| Net IncomeAfter-tax profit | $1.9B | $974M |
| Free Cash FlowCash after capex | $3.1B | $1.8B |
| Gross MarginGross profit ÷ Revenue | +60.6% | +28.4% |
| Operating MarginEBIT ÷ Revenue | +50.8% | +44.1% |
| Net MarginNet income ÷ Revenue | +39.2% | +28.8% |
| FCF MarginFCF ÷ Revenue | +63.1% | +54.6% |
| Rev. Growth (YoY)Latest quarter vs prior year | +2.9% | +9.3% |
| EPS Growth (YoY)Latest quarter vs prior year | +33.1% | +4.8% |
PSA leads this category, winning 5 of 6 comparable metrics.
Valuation Metrics
EXR leads this category, winning 5 of 7 comparable metrics.
Valuation Metrics
At 30.5x trailing earnings, EXR trades at a 8% valuation discount to PSA's 33.2x P/E. Adjusting for growth (PEG ratio), PSA offers better value at 4.45x vs EXR's 7.00x — a lower PEG means you pay less per unit of expected earnings growth.
| Metric | PSAPublic Storage | EXRExtra Space Stora… |
|---|---|---|
| Market CapShares × price | $52.5B | $29.5B |
| Enterprise ValueMkt cap + debt − cash | $62.4B | $44.4B |
| Trailing P/EPrice ÷ TTM EPS | 33.17x | 30.46x |
| Forward P/EPrice ÷ next-FY EPS est. | 31.29x | 30.07x |
| PEG RatioP/E ÷ EPS growth rate | 4.45x | 7.00x |
| EV / EBITDAEnterprise value multiple | 18.32x | 20.12x |
| Price / SalesMarket cap ÷ Revenue | 10.87x | 8.74x |
| Price / BookPrice ÷ Book value/share | 5.63x | 2.07x |
| Price / FCFMarket cap ÷ FCF | 18.11x | 16.14x |
EXR leads this category, winning 5 of 7 comparable metrics.
Profitability & Efficiency
PSA leads this category, winning 7 of 8 comparable metrics.
Profitability & Efficiency
PSA delivers a 20.3% return on equity — every $100 of shareholder capital generates $20 in annual profit, vs $7 for EXR. EXR carries lower financial leverage with a 1.05x debt-to-equity ratio, signaling a more conservative balance sheet compared to PSA's 1.10x.
| Metric | PSAPublic Storage | EXRExtra Space Stora… |
|---|---|---|
| ROE (TTM)Return on equity | +20.3% | +6.7% |
| ROA (TTM)Return on assets | +9.4% | +3.3% |
| ROICReturn on invested capital | +8.9% | +3.9% |
| ROCEReturn on capital employed | +11.6% | +5.4% |
| Piotroski ScoreFundamental quality 0–9 | 5 | 5 |
| Debt / EquityFinancial leverage | 1.10x | 1.05x |
| Net DebtTotal debt minus cash | $9.9B | $14.8B |
| Cash & Equiv.Liquid assets | $318M | $139M |
| Total DebtShort + long-term debt | $10.3B | $15.0B |
| Interest CoverageEBIT ÷ Interest expense | 6.88x | 2.68x |
PSA leads this category, winning 7 of 8 comparable metrics.
Total Returns (Dividends Reinvested)
PSA leads this category, winning 5 of 6 comparable metrics.
Total Returns (Dividends Reinvested)
A $10,000 investment in PSA five years ago would be worth $13,290 today (with dividends reinvested), compared to $11,680 for EXR. Over the past 12 months, PSA leads with a +3.5% total return vs EXR's -2.1%. The 3-year compound annual growth rate (CAGR) favors PSA at 4.2% vs EXR's 1.0% — a key indicator of consistent wealth creation.
| Metric | PSAPublic Storage | EXRExtra Space Stora… |
|---|---|---|
| YTD ReturnYear-to-date | +16.8% | +8.0% |
| 1-Year ReturnPast 12 months | +3.5% | -2.1% |
| 3-Year ReturnCumulative with dividends | +13.1% | +2.9% |
| 5-Year ReturnCumulative with dividends | +32.9% | +16.8% |
| 10-Year ReturnCumulative with dividends | +55.6% | +106.5% |
| CAGR (3Y)Annualised 3-year return | +4.2% | +1.0% |
PSA leads this category, winning 5 of 6 comparable metrics.
Risk & Volatility
PSA leads this category, winning 2 of 2 comparable metrics.
Risk & Volatility
PSA is the less volatile stock with a 0.51 beta — it tends to amplify market swings less than EXR's 0.52 beta. A beta below 1.0 means the stock typically moves less than the S&P 500. PSA currently trades 95.3% from its 52-week high vs EXR's 90.1% drawdown — a narrower gap to the peak suggests stronger recent price momentum.
| Metric | PSAPublic Storage | EXRExtra Space Stora… |
|---|---|---|
| Beta (5Y)Sensitivity to S&P 500 | 0.51x | 0.52x |
| 52-Week HighHighest price in past year | $313.51 | $155.19 |
| 52-Week LowLowest price in past year | $256.54 | $125.71 |
| % of 52W HighCurrent price vs 52-week peak | +95.3% | +90.1% |
| RSI (14)Momentum oscillator 0–100 | 48.6 | 48.0 |
| Avg Volume (50D)Average daily shares traded | 1.1M | 1.1M |
PSA leads this category, winning 2 of 2 comparable metrics.
Analyst Outlook
Evenly matched — PSA and EXR each lead in 1 of 2 comparable metrics.
Analyst Outlook
Wall Street rates PSA as "Hold" and EXR as "Hold". Consensus price targets imply 6.7% upside for EXR (target: $149) vs 2.0% for PSA (target: $305). For income investors, EXR offers the higher dividend yield at 4.64% vs PSA's 4.38%.
| Metric | PSAPublic Storage | EXRExtra Space Stora… |
|---|---|---|
| Analyst RatingConsensus buy/hold/sell | Hold | Hold |
| Price TargetConsensus 12-month target | $304.82 | $149.13 |
| # AnalystsCovering analysts | 36 | 28 |
| Dividend YieldAnnual dividend ÷ price | +4.4% | +4.6% |
| Dividend StreakConsecutive years of raises | 1 | 0 |
| Dividend / ShareAnnual DPS | $13.09 | $6.49 |
| Buyback YieldShare repurchases ÷ mkt cap | 0.0% | +0.5% |
Evenly matched — PSA and EXR each lead in 1 of 2 comparable metrics.
Key Takeaway
PSA leads in 4 of 6 categories (Income & Cash Flow, Profitability & Efficiency). EXR leads in 1 (Valuation Metrics). 1 tied.
Best OverallPublic Storage (PSA)Leads 4 of 6 categories
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PSA vs EXR: Frequently Asked Questions
10 questions · data-driven answers · updated daily
01Is PSA or EXR a better buy right now?
For growth investors, Public Storage (PSA) is the stronger pick with 2.
7% revenue growth year-over-year, versus 1. 2% for Extra Space Storage Inc. (EXR). Extra Space Storage Inc. (EXR) offers the better valuation at 30. 5x trailing P/E (30. 1x forward), making it the more compelling value choice. Analysts rate Public Storage (PSA) a "Hold" — based on 36 analyst ratings — the highest consensus in this comparison. The "better buy" depends entirely on your goals: growth investors should weight revenue trajectory, value investors should weight P/E and PEG, and income investors should weight dividend yield and streak.
02Which has the better valuation — PSA or EXR?
On trailing P/E, Extra Space Storage Inc.
(EXR) is the cheapest at 30. 5x versus Public Storage at 33. 2x. On forward P/E, Extra Space Storage Inc. is actually cheaper at 30. 1x. The PEG ratio (P/E divided by earnings growth rate) is the most growth-adjusted single valuation metric: Public Storage wins at 4. 20x versus Extra Space Storage Inc. 's 6. 91x.
03Which is the better long-term investment — PSA or EXR?
Over the past 5 years, Public Storage (PSA) delivered a total return of +32.
9%, compared to +16. 8% for Extra Space Storage Inc. (EXR). Over 10 years, the gap is even starker: EXR returned +106. 5% versus PSA's +55. 6%. Past returns do not guarantee future results, and the stock with the higher historical return may already have its best growth priced in.
04Which is safer — PSA or EXR?
By beta (market sensitivity over 5 years), Public Storage (PSA) is the lower-risk stock at 0.
51β versus Extra Space Storage Inc. 's 0. 52β — meaning EXR is approximately 1% more volatile than PSA relative to the S&P 500. On balance sheet safety, Extra Space Storage Inc. (EXR) carries a lower debt/equity ratio of 105% versus 110% for Public Storage — giving it more financial flexibility in a downturn.
05Which is growing faster — PSA or EXR?
By revenue growth (latest reported year), Public Storage (PSA) is pulling ahead at 2.
7% versus 1. 2% for Extra Space Storage Inc. (EXR). On earnings-per-share growth, the picture is similar: Extra Space Storage Inc. grew EPS 13. 9% year-over-year, compared to -15. 3% for Public Storage. Over a 3-year CAGR, EXR leads at 19. 8% annualised revenue growth. Higher growth typically commands a higher valuation multiple — check whether the premium P/E or P/S is justified by the growth rate using the PEG ratio.
06Which has better profit margins — PSA or EXR?
Public Storage (PSA) is the more profitable company, earning 37.
0% net margin versus 28. 8% for Extra Space Storage Inc. — meaning it keeps 37. 0% of every revenue dollar as bottom-line profit. Operating margin tells a similar story: PSA leads at 46. 7% versus 44. 1% for EXR. At the gross margin level — before operating expenses — EXR leads at 28. 4%, reflecting greater pricing power or product mix advantage. Stronger margins indicate durable pricing power, lower cost of revenue, or higher mix of software/services. They are one of the clearest signs of business quality.
07Is PSA or EXR more undervalued right now?
The PEG ratio (forward P/E divided by expected earnings growth rate) is the most precise measure of undervaluation relative to growth potential.
By this metric, Public Storage (PSA) is the more undervalued stock at a PEG of 4. 20x versus Extra Space Storage Inc. 's 6. 91x. Both stocks trade at elevated growth-adjusted valuations, so expected growth needs to materialise. On forward earnings alone, Extra Space Storage Inc. (EXR) trades at 30. 1x forward P/E versus 31. 3x for Public Storage — 1. 2x cheaper on a one-year earnings basis. Analyst consensus price targets imply the most upside for EXR: 6. 7% to $149. 13.
08Which pays a better dividend — PSA or EXR?
All stocks in this comparison pay dividends.
Extra Space Storage Inc. (EXR) offers the highest yield at 4. 6%, versus 4. 4% for Public Storage (PSA).
09Is PSA or EXR better for a retirement portfolio?
For long-horizon retirement investors, Extra Space Storage Inc.
(EXR) is the stronger choice — it scores higher on the combination of lower volatility, dividend reliability, and long-term compounding (low volatility (β 0. 52), 4. 6% yield, +106. 5% 10Y return). Both have compounded well over 10 years (EXR: +106. 5%, PSA: +55. 6%), confirming both are viable long-term holds — but the lower-volatility option typically results in less emotional selling during corrections. Retirement portfolios generally favour predictability over maximum returns. Consult a financial advisor before making allocation decisions.
10What are the main differences between PSA and EXR?
Both stocks operate in the Real Estate sector, making this a peer-level intra-sector comparison — the same macro tailwinds and headwinds will affect both.
These fundamental differences mean investors should not choose between them on a single metric — the "better stock" depends entirely on which of these characteristics aligns with your investment strategy.
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Revenue Growth>
%
(PSA: 2.9% · EXR: 9.3%)Net Margin>
%
(PSA: 39.2% · EXR: 28.8%)P/E Ratio<
x
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