Is Public Storage Stock Outperforming the Nasdaq?

Valued at a market cap of $54.5 billion, Public Storage (PSA) is a Frisco, Texas-based Real Estate Investment Trust (REIT) that acquires, develops, and operates self-storage facilities.

Companies valued at $10 billion or more are typically classified as “large-cap stocks,” and PSA fits the label perfectly, with its market cap exceeding this threshold, underscoring its size, influence, and dominance within the REIT - Industrial industry. A major recent development is the launch of its 'PS4.0' strategy, which includes a leadership transition to incoming CEO Tom Boyle and a groundbreaking data science partnership with Welltower Inc. (WELL) to integrate advanced AI into its capital allocation and property management. 

This self-storage REIT is currently trading 4.9% below its 52-week high of $322.49, reached on Mar. 10, 2025. Shares of PSA have surged 12.7% over the past three months, outpacing the Nasdaq Composite’s ($NASX) 3.4% drop during the same time frame.

Moreover, on a YTD basis, shares of PSA are up 18.2%, compared to NASX’s 2% decline. However, in the longer term, PSA has decreased 1.5% over the past 52 weeks, considerably lagging behind NASX’s 22.8% uptick over the same time frame. 

To confirm its recent bullish trend, PSA has been trading above its 200-day moving average since early February, and has remained above its 50-day moving average since early January. 

On Feb. 12, PSA reported better-than-expected Q4 earnings, driving its shares up 2.7% in the following trading session. Stronger engagement from existing customers and effective efforts to attract new move-ins helped lift quarter-end occupancy by 0.5% year over year, marking the first occupancy increase in more than four years and indicating improving operating fundamentals heading into 2026. While the company’s same-store revenue edged down slightly year over year to $936.2 million, its core FFO rose 1.2% to $4.26 per share, surpassing consensus estimate of $4.21.

PSA has underperformed its rival, Prologis, Inc. (PLD), which soared 10.6% over the past 52 weeks. However, it has outpaced PLD’s 7.4% YTD rise. 

Looking at PSA’s recent outperformance, analysts remain moderately optimistic about its prospects. The stock has a consensus rating of "Moderate Buy” from the 21 analysts covering it. While the company is trading above its mean price target of $306, its Street-high price target of $331 suggests an 8.1% premium to its current price levels.