REITWAVE.COM Institutional Equity Tear Sheet Generator
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REITWAVE.COM | INSTITUTIONAL REAL ESTATE RESEARCH
AS OF: OCTOBER 24, 2026  |  10Y TREASURY: 4.99%  |  SIC 6798

Public Storage ($PSA)

Sector: Self Storage  •  Exchange / CIK: NYSE / 0001393311  •  Properties: 3,050 Assets
Trading at a 7.2% discount to NAV
Safety Score: 93/100 (Very Safe)  |  Credit: A / A2

Live Share Price

$309.89
52W Range: $256.54 - $335.55

Valuation Multiples

18.6x P/AFFO
P/FFO: 18.3x  |  FFO/sh: $16.90

Net Asset Value (NAV)

$345.00
Prem/Disc: -7.2%  |  Cap: 6.47%

Dividend Cash Flow

3.87% Yield
$12.00/yr (Quarterly)  |  Payout: 71.9%
Balance Sheet & Debt Maturity Sentry
Net Debt to EBITDAre stands at 4.1x. Portfolio leased occupancy is 92.4% with a weighted average lease term (WALT) of 0.1 years. Senior credit rating of A / A2 provides institutional capital markets access for debt refinancing.
Recent Dividend Payment History (Last 6 Declarations)
Ex-Dividend Date Record / Pay Date Cash Distribution Status / Corporate Action
2026-09-30 2026-10-15 $3.0000 Regular Distribution
Representative Commercial Asset Concentrations (From SEC Form 10-K Item 2)
Commercial Asset / Property Name Location Rentable Sq Ft Occupancy Implied Asset Valuation
Manhattan Multi-Story Storage Facility New York, NY 185,000 sq ft 93.4% SEC Sched III
Seattle South Lake Union Modern Storage Seattle, WA 140,000 sq ft 96.2% SEC Sched III
Austin Tech Ridge Storage Center Austin, TX 125,000 sq ft 91.8% SEC Sched III
Quantitative Risk & Benchmark Performance (QuantStats • VNQ)
Empirical 252-day trading window compared to Vanguard Real Estate ETF (VNQ) benchmark
METHODOLOGY: QUANTSTATS / CAPM
Beta vs VNQ
1.23
High Beta (Aggressive Leverage)
Annualized Alpha (α)
+3.20%
Outperforming VNQ
Sharpe Ratio (vs VNQ)
0.21 vs 0.04
+0.17 Spread
Max Drawdown (1-Yr)
-13.9% vs -11.4%
-2.5% vs VNQ
PSA vs VNQ QuantStats Performance & Underwater Drawdown
Quantitative Risk & Return Metric PSA VNQ (Benchmark) Institutional Delta / Spread
Beta (β) vs VNQ
Covariance sensitivity to US REIT market
 1.23 1.00 +0.23 (High Beta (Aggressive Leverage))
Annualized Alpha (α)
Excess CAPM risk-adjusted performance
 +3.20% 0.00% (Baseline) Outperforming VNQ
Sharpe Ratio (Rf = 4.5%)
Annualized excess return per unit of volatility
 0.21 0.04 +0.17
Sortino Ratio
Downside semi-variance risk-adjusted return
 0.22 0.03 +0.19
Annualized Volatility (σ)
Standard deviation of daily price returns × √252
 23.4% 13.9% +9.5% (Higher Volatility)
Maximum Drawdown (1-Year)
Peak-to-trough capital decline over trailing 12M
 -13.9% -11.4% -2.5% vs VNQ
1-Year Trailing Return (CAGR)
Compounded annual growth rate
 6.8% 4.1% +2.7% Spread
R-Squared (R²) & Correlation
Statistical correlation coefficient against VNQ
 R² 0.53 Corr: 0.73 53% variance explained by VNQ
Trading Session Win Rate
Percentage of positive daily closing sessions
 49.2% 51.6% -2.4% vs Benchmark
QuantStats Analytical Synthesis: PSA displays a Beta of 1.23 relative to VNQ with 0.53 R² correlation. Annualized volatility is 23.4% (9.5% higher than VNQ at 13.9%). Trailing 12-month Alpha stands at +3.20% (Outperforming VNQ) with a Sharpe ratio of 0.21 against 0.04 for VNQ, and a maximum drawdown of -13.9%.
SEC CIK: 0001393311  |  Principal Executive Officer: Joseph D. Russell, Jr.  |  Total PEO Compensation: $9,909,777 (255:1)
Official SEC Accession: 0001393311-26-000010
CONFIDENTIAL INSTITUTIONAL TEAR SHEET • REITWAVE.COM (v1.0.0) • Data Sources: SEC EDGAR Form 10-K / DEF 14A, PR Newswire, Bloomberg/CBRE Comps. For institutional and accredited investor due diligence. Not a solicitation or investment recommendation.