How Is Public Storage's Stock Performance Compared to Other REIT - Industrial Stocks?

Company Overview - Public Storage (PSA) is the largest owner and operator of self-storage facilities with a market cap of $51.7 billion, structured as a REIT [1] - As of June 30, 2025, the company managed 3,432 facilities across 40 states and holds a 35% equity interest in Shurgard Self Storage Limited, which operates 321 facilities in Western Europe [2] Stock Performance - PSA shares have decreased 20.5% from their 52-week high of $369.99 and have fallen 2.8% over the past three months, underperforming the Pacer Benchmark Industrial Real Estate SCTR ETF (INDS) which rose by 1.1% during the same period [3] - Year-to-date, PSA's shares have declined by 1.8%, while INDS gained 5.8%. Over the past 52 weeks, PSA stock dropped 16.3%, compared to INDS's nearly 12% decline [4] Financial Performance - In Q2 2025, Public Storage reported a core FFO of $4.28 per share and revenues of $1.2 billion. However, same-store occupancy declined by 0.4% year-over-year to 92.6%, and same-store NOI slipped by 0.6% [5] - Expenses rose by 2.9%, indicating margin pressure, and management's updated guidance suggested muted same-store growth and highlighted higher costs, which led to a 5.8% drop in shares the following day [5] Competitive Landscape - In comparison, rival Extra Space Storage Inc. (EXR) has shown a less pronounced decline, with a YTD dip of 1.7% and a 15.9% drop over the past 52 weeks [6] - Analysts maintain a moderately optimistic outlook for PSA, with a consensus rating of "Moderate Buy" from 22 analysts and a mean price target of $323.31, representing a 9.7% premium to current levels [6]