PSA · a US exchange · USD · Market cap $56.3B · 5,770 employees
Public Storage, a member of the S&P 500, is a REIT that primarily acquires, develops, owns, and operates self-storage facilities.
FAIL · Does not pass the screen
301.60 USD
At the last full screen 2026-09-08
Screened 2026-09-08 · the tape above runs as of 22:12 UTC · 11 Sep · two dates, stated on purpose · verdict and workings shown in full · never trimmed
The Label · The Season, Not the Day
This name holds its markdown label.
Public Storage holds its Markdown at $301.60. Consolidating, no directional conviction, held for 3 days.
As held on the ledger · 2026-09-08
Phase
Markdown · caution
Quantitative state
Consolidating, no directional conviction, held for 3 days
Price at the screen
$301.60
Valuation
28.78 trailing · 29.81 forward price to earnings
Values screen
FAIL· score 10.0
Beta
0.94
The Workings
Five Screens, Shown in Full
Does not pass. Debt ratio
Test
Figure
Limit
What it means
Status
Business activity
Permissible
Core business clean
Its core business isn't built on prohibited lines: no gambling, alcohol, tobacco, weapons, or interest-based lending.
Pass
Debt load
50.74%
Below 33%
Interest-bearing debt is 50.7% of its assets, above the one-third ceiling the screen allows.
Fail
Interest-bearing cash
1.92%
Below 33%
Cash held in interest-bearing accounts and securities is 1.9% of assets, under the one-third limit.
Pass
Receivables
2.28%
Below 49%
Money owed to the company is 2.3% of assets, under the 49% limit.
Pass
Revenue purity
0.76%
Below 5%
Only 0.8% of revenue comes from non-compliant sources, under the 5% line.
Pass
Five checks adapted from AAOIFI screening standards: business activity plus four balance-sheet ratios. All five must pass for ethical clearance. Every figure is arithmetic on public accounts, not judgement.
What the Numbers Say It Is Worth
The Fair Value Range
Our framework reads AVOID: it trades above our $221.90 fair value estimate, strong competitive moat, 3.30% revenue growth.
Fair value range in USD, drawn from the 2026-09-08 screen. The gold marker is the market price at the same screen. The price runs 26.4% above the base estimate.
Third-party analyst targets: 18 covering, consensus Hold. The average target sits +13% from the screen price.
Reading the gap · Our more conservative model reads it as fully-to-richly valued here, while the Street is more bullish: a quality-at-a-fair-price name rather than a deep-value one.
Price History & Projections
Where it has been, where the models see it going. History from market close data; projection points are our fair-value estimates and third-party analyst targets, dated to the 2026-09-08 screen.
Fair value and rating are our own model estimates; the Street's range reflects third-party analyst estimates. Analysis, not advice.
The Business, in Plain Words
Storage units feel essential but the price does not
Think of it as the corner lock-up where families tuck away the furniture they cannot quite let go. Public Storage owns thousands of those facilities across the US and runs a tight operation with 39 percent profit margins and a strong moat. Yet at 318 dollars the shares sit 24 percent above our fair value of 242 dollars, and the 30 times forward earnings multiple leaves little room for the 3 percent revenue growth the business is actually delivering.
We pass because the numbers do not justify the premium. Return on equity of 20 percent is respectable for a REIT, but growth remains modest and the market already prices in perfection with a median analyst target of 336 dollars. The ethical screen also flags a clear fail on the debt ratio, which rules the name out regardless of operational strengths.
The real risk is that investors keep paying for yesterday's stability while interest rates and new supply keep pressure on rents. A cyclical slowdown in moving activity would hit occupancy faster than the current multiple suggests. Analysis, not advice.
The risks · The main risks here are ordinary market swings and the chance our fair-value read proves too optimistic.
Plain-English interpretation of our own screen data. Analysis, not advice.
Where & How to Trade
PSA trades on a US exchange. As a listed security it is accessible through almost any international broker offering its home market. New to this, or investing from abroad? Our guide to accessing global markets covers brokers, currencies and the practical steps.
The Dated Journal · Newest First, Never Edited
Every Entry, As Written
2026-09-10Markdown · changed$301.60-7.9%Entry 5
The framework has shifted from markup to markdown since the last review. Price is trending lower. Sellers are in control and the prior trend has reversed. Price has moved down 7.9% since our last review. Ethical screening: FAIL. This security does not pass our values-based screening criteria. The risk-adjusted return profile shows modest positive risk-adjusted returns. Our composite framework grades it B, carrying a low risk profile. Technically it is holding around 8% above its long-term trend line with momentum reading neutral. Over the past year the shares are up 11%. Our forward projection puts the odds of a 10% gain over the next month near 14%. The street (16 analysts) rates it buy, with a mean price target of $318.
2026-08-09Markup · changed$327.34+5.7%Entry 4
The framework has shifted from distribution to markup since the last review. Price is trending higher with momentum. The crowd has caught on and buyers are in control. Price has moved up 5.7% since our last review. Ethical screening: FAIL. This security does not pass our values-based screening criteria. The risk-adjusted return profile shows good risk-adjusted returns. Our composite framework grades it B, carrying a low risk profile. Technically it is holding around 8% above its long-term trend line with momentum reading neutral. Over the past year the shares are up 11%. Our forward projection puts the odds of a 10% gain over the next month near 14%. The street (16 analysts) rates it buy, with a mean price target of $318.
2026-07-18Distribution$309.68+0.0%Entry 3
The framework reads distribution. Smart money appears to be selling into strength. Institutional holders may be rotating out. Price has moved down 0.0% since our last review. Ethical screening: FAIL. This security does not pass our values-based screening criteria. The risk-adjusted return profile shows good risk-adjusted returns. Our composite framework grades it B, carrying a low risk profile. Technically it is holding around 8% above its long-term trend line with momentum reading neutral. Over the past year the shares are up 11%. Our forward projection puts the odds of a 10% gain over the next month near 14%. The street (16 analysts) rates it buy, with a mean price target of $318.
2026-07-03Distribution$309.68+0.0%Entry 2
The framework reads distribution. Smart money appears to be selling into strength. Institutional holders may be rotating out. Price has moved down 0.0% since our last review. Ethical screening: FAIL. This security does not pass our values-based screening criteria. The risk-adjusted return profile shows good risk-adjusted returns.
2026-07-02Distribution$309.68Entry 1
The framework reads distribution. Smart money appears to be selling into strength. Institutional holders may be rotating out. Ethical screening: FAIL. This security does not pass our values-based screening criteria. The risk-adjusted return profile shows good risk-adjusted returns.
Each entry above was written on its date, before the outcome. A journal you can prune is not a journal.
