Industry revenues:

• Self-Storage: 100%

TOP 3 markets:

1. California: approx. 20%
2. Texas: approx. 15%
3. Florida: approx. 10%

Public Storage generates the majority of its revenues from the self-storage industry. The company is one of the leading providers in this sector and owns numerous facilities in the USA.

California is the largest market for Public Storage, followed by Texas and Florida. These markets are particularly important for the company due to their population density and high demand for storage options.

Production: Not applicable

Public Storage (NYSE: PSA) is a Real Estate Investment Trust (REIT) specializing in the rental of storage units. The company does not produce physical products. Instead, it offers services in the form of storage spaces available at various facilities in the USA and Europe.

Public Storage's main activity is to acquire, develop, and manage real estate to provide storage solutions for individuals and businesses.

Current Strategy:

1. Acquisitions and Expansion: Public Storage is increasingly focusing on strategic acquisitions to expand its market presence. This includes both the purchase of existing self-storage facilities and the development of new locations.

2. Technological Innovation: The company is investing in digital technologies to improve customer service and increase operational efficiencies. This includes the implementation of online reservation systems and automated access controls.

3. Sustainability: Public Storage is integrating sustainable practices into its operations, including the use of renewable energies and the implementation of energy-efficient systems in its facilities.

Through these strategies, Public Storage aims to strengthen its market leadership while responding to changing customer needs and market conditions. The focus on acquisitions and technology is intended to maximize growth potential and ensure long-term competitiveness.

Main materials: Steel, concrete, aluminum

Countries of origin:

• Steel: China, India, USA
• Concrete: Local (USA)
• Aluminum: Canada, China

Public Storage, as a leading company in the self-storage industry, mainly requires building materials such as steel, concrete, and aluminum for the construction and maintenance of their storage facilities.

Steel is often imported from China and India, as these countries are among the largest steel producers worldwide. Concrete is usually sourced locally in the USA to minimize transportation costs and ensure availability. Aluminum, used for specific building components and cladding, is frequently imported from Canada and China, as these countries are significant aluminum producers.

However, the selection of suppliers and countries of origin may change depending on market conditions, trade agreements, and price developments.

Market share: 9% (estimated 2025) Industry growth: 5% annually (2023-2025) Return on equity (ROE): 23% (2024)

Public Storage (NYSE:PSA) has a significant competitive advantage based on several factors. The market share of approximately 9% in the highly fragmented self-storage market indicates that the company holds a leading position. This allows PSA to benefit from economies of scale and to have a strong negotiating position with suppliers and customers.

The return on equity of 23% in 2024 suggests that the company operates efficiently and utilizes its investments well to achieve high returns. This is an indicator of a sustainable competitive advantage, as PSA is able to achieve above-average returns compared to many competitors.

Furthermore, the continuous industry growth of about 5% annually supports the expansion and revenue increase of PSA. The ability to operate in a growing market provides the company with the opportunity to further strengthen its market position and attract new customers.

Institutional Investor Share: approx. 80% (estimated for 2025 based on historical data)

Insider Buys/Sells: No significant changes in 2025

Public Storage has traditionally had a high share of institutional investors, which has been around 80% in recent years. This demonstrates the confidence of large investment funds and institutional investors in the company's stability and growth potential.

In 2025, there were no significant insider buys or sells, indicating that management and other insiders do not expect any significant changes in the valuation or future prospects of the company.

Market share of Public Storage (PSA): 18% (2025, estimated)

Main competitors and their market shares:

1. Extra Space Storage (NYSE: EXR): 17%
2. CubeSmart (NYSE: CUBE): 11%
3. Life Storage (NYSE: LSI): 9%
4. National Storage Affiliates Trust (NYSE: NSA): 6%
5. U-Haul International (AMERCO): 5%

Public Storage is one of the leading providers in the self-storage sector in the USA. The market share of 18% indicates a strong presence, although the difference to the largest competitors, especially Extra Space Storage, is relatively small.

Public Storage's moat primarily consists of its extensive geographical presence, brand recognition, and efficient operational processes. The company benefits from a high number of locations and strong brand awareness, which facilitates customer retention and acquisition.

Compared to competitors, Public Storage has a significant advantage in scale efficiency and financial stability. However, Extra Space Storage and CubeSmart are also well-positioned and offer comparable services, intensifying the competition.

Overall, Public Storage has a solid moat, but competition in the self-storage market is fierce, and some competitors may have a stronger advantage in certain regions or segments.

Revenue growth: 6.5% (estimated 2024)
FFO (Funds from Operations) growth: 5.8% (estimated 2024)
Dividend yield: 3.8% (estimated 2024)

Public Storage has recorded stable revenue growth in recent years, attributed to the ongoing demand for self-storage solutions. The company benefits from a strong market position and a diversified real estate base, enabling it to capitalize on regional growth opportunities.

The growth in Funds from Operations (FFO) suggests that the company is improving its operational efficiency and effectively managing its real estate portfolios. The solid dividend yield of 3.8% makes the stock attractive to income-oriented investors.

Overall, Public Storage appears to be a stable investment, especially for investors interested in long-term returns. The continuous expansion and robust business model support this assessment.

Dividend yield: 3.8% (estimated for 2025)
Dividend history: Continuous payout for over 30 years

Public Storage (NYSE: PSA) is known for its reliable dividend policy. The company has consistently distributed dividends for decades, indicating a stable financial foundation and a robust business model.

The estimated dividend yield of 3.8% for 2025 suggests that Public Storage continues to be able to provide attractive payouts to its shareholders. This reliability is supported by its strong position in the self-storage market and its ability to generate stable cash flows.

Therefore, investors can expect a continued dividend payment unless significant market changes or economic challenges occur.