Public Storage Continues to Rally

Four years ago, I highlighted Public Storage (PSA). The stock has continued to rally. Here’s a description:

If the attic or garage are packed, Public Storage can help. The real estate investment trust (REIT), is one of the largest self-storage companies in the US. It operates more than 2,250 storage facilities comprising some 146 million sq. ft. of storage space in the US and more than 190 facilities in Europe (through its Shurgard Europe affiliate). The firm’s self-storage properties, located in densely populated areas, generate more than 90% of the company’s sales. Public Storage, which was founded in 1980, also rents trucks, and sells moving supplies such as locks, boxes, and packing supplies. It also owns about 42% of publicly traded PS Business Parks, an office building REIT.

The stock reached a low of $6.25 per share in 1990. Today, it’s at $203 per share. But that doesn’t include the quarterly dividend which has risen from 20 cents in 1990 to $1.70 per share today. That means PSA was yielding 12.8% at its 1990 low. With dividends, the stock is up 100-fold in 25 years.

So many people waste their time trying to find the “next Apple” or “next Google.” Few people think about the “next Public Storage.”

Or the current one for that matter.

Posted by on July 28th, 2015 at 10:41 am


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