PSA vs NSA

For growth investors, Public Storage (PSA) is the stronger pick with 2.

7% revenue growth year-over-year, versus -2. 3% for National Storage Affiliates Trust (NSA). Public Storage (PSA) offers the better valuation at 33. 2x trailing P/E (31. 3x 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.

On trailing P/E, Public Storage (PSA) is the cheapest at 33.

2x versus National Storage Affiliates Trust at 59. 9x. On forward P/E, Public Storage is actually cheaper at 31. 3x. 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 National Storage Affiliates Trust's 13. 91x.

Over the past 5 years, Public Storage (PSA) delivered a total return of +32.

9%, compared to +16. 4% for National Storage Affiliates Trust (NSA). Over 10 years, the gap is even starker: NSA returned +178. 4% 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.

By beta (market sensitivity over 5 years), Public Storage (PSA) is the lower-risk stock at 0.

51β versus National Storage Affiliates Trust's 0. 81β — meaning NSA is approximately 58% more volatile than PSA relative to the S&P 500. On balance sheet safety, Public Storage (PSA) carries a lower debt/equity ratio of 110% versus 2% for National Storage Affiliates Trust — giving it more financial flexibility in a downturn.

By revenue growth (latest reported year), Public Storage (PSA) is pulling ahead at 2.

7% versus -2. 3% for National Storage Affiliates Trust (NSA). On earnings-per-share growth, the picture is similar: Public Storage grew EPS -15. 3% year-over-year, compared to -40. 7% for National Storage Affiliates Trust. Over a 3-year CAGR, PSA leads at 4. 9% 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.

Public Storage (PSA) is the more profitable company, earning 37.

0% net margin versus 9. 8% for National Storage Affiliates Trust — 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 37. 0% for NSA. At the gross margin level — before operating expenses — NSA leads at 46. 0%, 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.

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 National Storage Affiliates Trust's 13. 91x. Both stocks trade at elevated growth-adjusted valuations, so expected growth needs to materialise. On forward earnings alone, Public Storage (PSA) trades at 31. 3x forward P/E versus 79. 6x for National Storage Affiliates Trust — 48. 3x cheaper on a one-year earnings basis. Analyst consensus price targets imply the most upside for PSA: 2. 0% to $304. 82.

All stocks in this comparison pay dividends.

National Storage Affiliates Trust (NSA) offers the highest yield at 5. 4%, versus 4. 4% for Public Storage (PSA).

For long-horizon retirement investors, Public Storage (PSA) is the stronger choice — it scores higher on the combination of lower volatility, dividend reliability, and long-term compounding (low volatility (β 0.

51), 4. 4% yield). Both have compounded well over 10 years (PSA: +55. 6%, NSA: +178. 4%), 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.

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.