Expectations trend
FY2027 · fiscal year ending 2027-12-31 · fmp
Public Storage (PSA)
NYSEReal EstateReit - IndustrialSnapshot 2026-11-04
$342.76+2.81%
Close 2026-11-04 · 1-day change
NYSEReal EstateReit - IndustrialSnapshot 2026-11-04
The long-term thesis, the evidence coming in, and the environment around it. Thesis dated Jul 8, 2026.
Next-FY EPS estimate change · 30 days
9.83 → 9.93 EPS · FY ending Dec 31, 2027 · 7 analysts
One observable signal. This measures changing earnings expectations, not the probability of a gain or loss.
Change in the same fiscal period’s mean EPS estimate from Oct 5, 2026 to Nov 4, 2026: (new ÷ prior − 1). Contributor count changed from 6 to 7; this is not the number of analysts revising. The ±10% axis is a display range.
The EPS and P/E reference is not available for PSA yet.
| Measure / period | Management expectations | Analyst expectations |
|---|
Management figures unavailable.
Current consensus figures unavailable.
4 published thesis conditions, with dated milestones shown separately.
| Key Factor | Why It Matters | Current Status | Break Condition | Latest Evidence |
|---|---|---|---|---|
Successful integration of accretive acquisitions like Public Storage Canada | The company expands through accretive acquisitions like the $1.2B Canadian deal. | Improving | Acquisitions fail to deliver expected synergies or growth within 12 months | Qualitative: NSAT closed Jul 2026, Canada integrated, FFO guidance raised NSAT deal closed; Canada debt issued; 2026 FFO guidance raised to $16.90-$17.10. Nov 4, 2026Last status assessment Nov 4, 2026Compare required operating outcomesCompare scope, accounting basis and period before treating this evidence as progress against an annual requirement. |
Compare these dated observations with the operating requirements above
FY2027 · fiscal year ending 2027-12-31 · fmp
The evidence, the remaining questions, and what comes next
No recovery evidence is reported in the available driver assessments.
Next earnings date unavailable
Observed price history; separate from operating scenarios
The weekly editorial context below is a separate assessment from the dated monitor evidence above. Recovery observations do not automatically change the published thesis. Unverified outside influences are hypotheses, not measured driver evidence.
PSA is a real estate growth and operating-execution story, with acquisitions adding scale and same-store operations still improving modestly. The long-term thesis weakened this week as recent financial performance fell to the bottom half of its industry, despite a recent earnings beat.
Valuation is tagged as stretched, and PSA carries a 1.56 premium versus peers, with a medium-confidence expectation gap of 0.13. Recent valuation expansion reflects re-rating, while the low fragility assessment suggests the market is not pricing in a broad combination of expensive valuation, weak execution, and turbulence.
Near term, acquisition integration through the PS Next platform appears on track, and non-Same Store revenue and NOI grew sharply, partly because the portfolio is larger. Same-store NOI returned to modest year-over-year growth in the third quarter, but execution remains mixed and recent relative performance has weakened; the risk of a miss is assessed as low, though past misses remain a concern.
Over the next few quarters, the key test is whether PSA can sustain same-store improvement while integrating acquisitions and realizing synergies. A reversal of recently raised guidance would damage management credibility, while lower interest rates could support the real estate sector; weakness among sector peers could remove that support.
Over a 1-3 year view, PSA has acquisition growth and early same-store progress, but the thesis is weakened by mixed execution and stretched valuation. The main evidence to watch is whether operating gains persist without a guidance reversal. Not investment advice.
Not investment advice. Scores describe historical and current data; they are not forecasts of future returns. Consult a licensed advisor before making investment decisions.
| Capital structure is solid with $3B credit facility and $1B commercial paper program. |
| Intact |
| Loss or reduction of $3B credit facility or $1B commercial paper program |
Direct metric needs a verified mapping The published measure or accounting basis is not supported by an exact source binding. Date unavailableLast status assessment Nov 4, 2026Compare required operating outcomesCompare scope, accounting basis and period before treating this evidence as progress against an annual requirement. |
EPS near $0.42 next quarter with stable profit margins | Profit margins stay strong with EPS guidance at $0.42 next quarter. | Intact | EPS guidance falls below $0.35 next quarter | Direct metric needs a verified mapping The published measure or accounting basis is not supported by an exact source binding. Date unavailableLast status assessment Nov 4, 2026Compare required operating outcomesCompare scope, accounting basis and period before treating this evidence as progress against an annual requirement. |
Revenue growth of about 7% per year | Public Storage grows revenue about 7% a year. | Intact | YoY revenue growth falls below 5% next year | Revenue growth: 11.61% FY2026-Q3; GAAP. Published target: >=7% YoY. Reported actuals cannot certify a consensus target without an explicit period and accounting-basis binding. Oct 26, 202611.612909 percent · calculatedLast status assessment Nov 4, 2026Compare required operating outcomesCompare scope, accounting basis and period before treating this evidence as progress against an annual requirement. |
Stored thesis · Jul 8, 2026. Latest Evidence uses source-matched measurements where available, alongside the last thesis-monitor assessment. Source periods and assessment dates are shown separately. A new measurement does not automatically change the published status or verify an older target.
$10.50 → $9.93 · observed estimates
$5.20B → $5.71B · observed estimates
One fiscal period and provider throughout. At least five contributors are required for each plotted metric; missing coverage stays a gap. Axes show the observed range. Counts measure coverage, not revisions.
| Snapshot | EPS | Revenue | EPS / revenue analysts |
|---|---|---|---|
| 2026-07-24 | $10.50 | $5,197,643,000 | 3 / 5 |
| 2026-07-25 | $9.88 | $5,425,655,116 | 5 / 5 |
| 2026-07-26 | $10.50 | $5,226,489,250 | 3 / 4 |
| 2026-07-27 | $10.50 | $5,226,489,250 | 3 / 4 |
| 2026-07-28 | $10.50 | $5,226,489,250 | 3 / 4 |
| 2026-07-29 | $9.77 | $5,388,835,359 | 5 / 4 |
| 2026-07-30 | $9.77 | $5,388,835,355 | 6 / 5 |
| 2026-07-31 | $9.77 | $5,403,289,900 | 6 / 5 |
| 2026-08-01 | $9.77 | $5,403,289,900 | 6 / 5 |
| 2026-08-02 | $9.77 | $5,407,958,264 | 5 / 5 |
| 2026-08-03 | $9.19 | $5,403,665,200 | 1 / 6 |
| 2026-08-04 | $9.19 | $5,403,665,200 | 1 / 6 |
| 2026-08-05 | $9.77 | $5,407,958,264 | 5 / 5 |
| 2026-08-06 | $9.77 | $5,407,958,264 | 5 / 5 |
| 2026-08-07 | $9.77 | $5,407,958,264 | 5 / 5 |
| 2026-08-08 | $9.19 | $5,403,665,200 | 1 / 6 |
| 2026-08-09 | $9.19 | $5,403,665,200 | 1 / 6 |
| 2026-08-10 | $9.77 | $5,407,958,264 | 5 / 5 |
| 2026-08-12 | $9.19 | $5,403,665,200 | 1 / 6 |
| 2026-08-13 | $9.19 | $5,403,665,200 | 1 / 6 |
| 2026-08-14 | $9.77 | $5,407,958,264 | 5 / 5 |
| 2026-08-15 | $9.77 | $5,407,958,264 | 3 / 6 |
| 2026-08-16 | $9.77 | $5,407,958,264 | 3 / 6 |
| 2026-08-17 | $9.77 | $5,407,958,264 | 3 / 6 |
| 2026-08-18 | $9.77 | $5,407,958,264 | 3 / 6 |
| 2026-08-19 | $9.77 | $5,407,958,264 | 3 / 6 |
| 2026-08-20 | $10.22 | $5,588,423,380 | 4 / 7 |
| 2026-08-21 | $10.18 | $5,588,423,380 | 5 / 7 |
| 2026-08-22 | $10.18 | $5,588,423,380 | 5 / 7 |
| 2026-08-23 | $10.17 | $5,589,672,984 | 5 / 7 |
| 2026-08-24 | $10.17 | $5,589,672,984 | 5 / 7 |
| 2026-08-25 | $10.17 | $5,589,672,984 | 5 / 7 |
| 2026-08-26 | $10.17 | $5,589,672,984 | 5 / 7 |
| 2026-08-27 | $10.17 | $5,589,672,984 | 5 / 7 |
| 2026-08-28 | $10.17 | $5,589,672,984 | 5 / 7 |
| 2026-08-29 | $10.17 | $5,589,672,984 | 5 / 7 |
| 2026-08-30 | $10.17 | $5,589,672,984 | 5 / 7 |
| 2026-08-31 | $10.17 | $5,589,672,984 | 5 / 7 |
| 2026-09-01 | $10.17 | $5,568,369,582 | 5 / 7 |
| 2026-09-02 | $10.14 | $5,579,063,257 | 5 / 7 |
| 2026-09-03 | $10.14 | $5,584,643,902 | 5 / 7 |
| 2026-09-04 | $10.14 | $5,584,643,902 | 5 / 8 |
| 2026-09-05 | $10.14 | $5,584,643,902 | 5 / 8 |
| 2026-09-06 | $10.14 | $5,584,643,902 | 5 / 8 |
| 2026-09-07 | $10.14 | $5,584,643,902 | 5 / 8 |
| 2026-09-08 | $10.14 | $5,584,643,902 | 5 / 8 |
| 2026-09-09 | $10.14 | $5,584,643,902 | 5 / 8 |
| 2026-09-10 | $10.14 | $5,584,643,902 | 5 / 8 |
| 2026-09-11 | $10.14 | $5,584,643,902 | 5 / 8 |
| 2026-09-12 | $10.14 | $5,584,643,902 | 5 / 8 |
| 2026-09-13 | $10.14 | $5,584,643,902 | 5 / 8 |
| 2026-09-14 | $10.14 | $5,584,643,902 | 5 / 8 |
| 2026-09-15 | $10.14 | $5,584,643,902 | 5 / 8 |
| 2026-09-16 | $10.14 | $5,632,148,902 | 5 / 8 |
| 2026-09-17 | $10.12 | $5,630,004,674 | 5 / 8 |
| 2026-09-18 | $10.12 | $5,630,004,674 | 5 / 8 |
| 2026-09-19 | $10.12 | $5,630,004,674 | 5 / 8 |
| 2026-09-20 | $10.19 | $5,676,994,464 | 6 / 8 |
| 2026-09-21 | $10.19 | $5,676,994,464 | 6 / 8 |
| 2026-09-22 | $10.13 | $5,676,994,464 | 6 / 8 |
| 2026-09-23 | $10.13 | $5,673,761,573 | 6 / 8 |
| 2026-09-24 | $10.13 | $5,673,761,573 | 6 / 8 |
| 2026-09-25 | $10.13 | $5,673,761,573 | 6 / 8 |
| 2026-09-26 | $10.13 | $5,673,761,573 | 6 / 8 |
| 2026-09-27 | $10.13 | $5,673,761,573 | 6 / 8 |
| 2026-09-28 | $10.13 | $5,673,761,573 | 6 / 8 |
| 2026-09-29 | $10.13 | $5,673,761,573 | 6 / 8 |
| 2026-09-30 | $10.13 | $5,673,761,573 | 6 / 8 |
| 2026-10-01 | $10.13 | $5,654,987,031 | 6 / 8 |
| 2026-10-02 | $10.13 | $5,666,590,245 | 6 / 8 |
| 2026-10-03 | $9.83 | $5,666,591,695 | 7 / 9 |
| 2026-10-04 | $9.83 | $5,666,591,695 | 6 / 8 |
| 2026-10-05 | $9.83 | $5,666,591,695 | 6 / 8 |
| 2026-10-06 | $9.83 | $5,666,591,695 | 6 / 8 |
| 2026-10-07 | $9.83 | $5,666,591,695 | 6 / 8 |
| 2026-10-08 | $9.83 | $5,666,591,695 | 6 / 8 |
| 2026-10-09 | $9.83 | $5,666,591,695 | 6 / 8 |
| 2026-10-10 | $9.83 | $5,666,591,695 | 6 / 8 |
| 2026-10-11 | $9.90 | $5,666,591,695 | 6 / 8 |
| 2026-10-12 | $9.90 | $5,666,591,695 | 6 / 8 |
| 2026-10-13 | $9.90 | $5,666,591,695 | 6 / 8 |
| 2026-10-14 | $9.90 | $5,666,591,695 | 7 / 8 |
| 2026-10-15 | $9.90 | $5,666,591,695 | 7 / 8 |
| 2026-10-16 | $9.90 | $5,666,591,695 | 7 / 8 |
| 2026-10-17 | $9.90 | $5,666,591,695 | 7 / 8 |
| 2026-10-18 | $9.90 | $5,666,591,695 | 7 / 8 |
| 2026-10-19 | $9.90 | $5,666,591,695 | 7 / 8 |
| 2026-10-20 | $9.90 | $5,666,591,695 | 7 / 8 |
| 2026-10-21 | $9.93 | $5,655,376,123 | 7 / 7 |
| 2026-10-22 | $9.93 | $5,655,376,123 | 7 / 7 |
| 2026-10-23 | $9.93 | $5,655,376,123 | 7 / 7 |
| 2026-10-24 | $9.93 | $5,655,376,123 | 7 / 7 |
| 2026-10-25 | $9.93 | $5,655,376,123 | 7 / 7 |
| 2026-10-26 | $9.93 | $5,655,376,123 | 7 / 7 |
| 2026-10-27 | $9.93 | $5,655,376,123 | 7 / 7 |
| 2026-10-28 | $9.91 | $5,732,086,350 | 7 / 7 |
| 2026-10-29 | $9.91 | $5,732,086,350 | 7 / 7 |
| 2026-10-30 | $9.91 | $5,732,086,350 | 7 / 7 |
| 2026-10-31 | $9.93 | $5,732,086,350 | 7 / 7 |
| 2026-11-01 | $9.93 | $5,732,086,350 | 7 / 7 |
| 2026-11-02 | $9.93 | $5,732,086,350 | 7 / 7 |
| 2026-11-03 | $9.93 | $5,707,757,588 | 7 / 7 |
| 2026-11-04 | $9.93 | $5,707,757,588 | 7 / 7 |
Revenue and EPS estimates track expectations. They are not delivered results or like-for-like proof of a required annual path.
Latest: 7 Buy / Strong Buy · 16 Hold · 0 Sell / Strong Sell
Recent actions · Oct 6–Nov 4 · 4 recorded
1 raises · 1 cuts · 0 unchanged · 0 without a comparable prior
Oct 6, 2026–Nov 4, 2026. Each firm's latest positive target is paired only with its immediately prior positive target from the same provider, at most 180 days earlier. Unmatched observations have one dot; conflicting observations are not compared.
Look for updated results and guidance against the published targets, plus direct evidence for unresolved drivers.
3 of 4 published conditions remain under pressure or need verification. The next results need to address those conditions.
The dated weekly assessment and its assumptions are available in Read detailed Outlook.