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Public StoragePSA +0.43%92 Earnings Yield (Joel Greenblatt) % is 3.38% as of Jun. 2026, which is 5% below its 10-year median of 3.56. GuruFocus rates PSA with a GF Score™ of 92/100 and a GF Value™ of $308.60 (Fairly Valued). The stock has 6 warning signs investors should review. Among 957 REITs companies, Public Storage ranks worse than 53.81% on this metric.
Public Storage's Enterprise Value for the quarter that ended in Jun. 2026 was $70,268 Mil.
Public Storage's EBIT for the trailing twelve months (TTM) ended in Jun. 2026 was $2,375 Mil. Public Storage's Earnings Yield (Joel Greenblatt) for the quarter that ended in Jun. 2026 was 3.38%.
The historical rank and industry rank for Public Storage's Earnings Yield (Joel Greenblatt) % or its related term are showing as below:
PSA'
s Earnings Yield (Joel Greenblatt) % Range Over the Past 10 Years
Min: 2.39 Med: 3.56 Max: 7.96
Current: 3.14
During the past 13 years, the highest Earnings Yield (Joel Greenblatt) of Public Storage was 7.96%. The lowest was 2.39%. And the median was 3.56%.
PSA's Earnings Yield (Joel Greenblatt) % is ranked worse than 53.81% of 957
companies
in the REITs industry
Industry Median: 3.5
vs PSA: 3.14
Joel Greenblatt's definition of earnings yield has the same problems the regular earnings yield does. It does not consider the growth of the company. It only looks at one-year's business operation. For cyclical companies, the earnings yield is usually highest at the peak of the business cycle. But these earnings are rarely sustainable.
A better indicator of the attractiveness of an investment which takes growth into account is the Forward Rate of Return (Yacktman) %. Public Storage's Forward Rate of Return (Yacktman) % for the quarter that ended in Jun. 2026 was 6.64%. The Forward Rate of Return uses the normalized Free Cash Flow of the past five years, and considers growth. The forward rate of return can be thought of as the return that investors buying the stock today can expect from it in the future.
Public Storage (NYSE:PSA) Earnings Yield (Joel Greenblatt) % Explanation
Joel Greenblatt defines the earnings yield using the above equation because it more accurately reflects the company's profitability relative to its stock price. Items like interest payment and tax etc. are not directly related to the company's operational profitability.
Enterprise Value instead of market cap (share price) is used in the calculation because it is the real price stock and bond investors together pay for the company.
Be Aware
Joel Greenblatt's definition of earnings yield has the same problems the regular earnings yield does. It does not consider the growth of the company. It only looks at one-year's business operation. For cyclical companies, the earnings yield is usually highest at the peak of the business cycle. But these earnings are rarely sustainable.
Public Storage Earnings Yield (Joel Greenblatt) % Related Terms
Public Storage Earnings Yield (Joel Greenblatt) % Historical Data
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The historical data trend for Public Storage's Earnings Yield (Joel Greenblatt) % can be seen below:
* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD. * For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.
Public Storage Earnings Yield (Joel Greenblatt) % Chart
For the REIT - Industrial subindustry, Public Storage's Earnings Yield (Joel Greenblatt) %, along with its competitors' market caps and Earnings Yield (Joel Greenblatt) % data, can be viewed below:
* Competitive companies are chosen from companies within the same industry, with headquarter located in same country, with closest market capitalization; x-axis shows the market cap, and y-axis shows the term value; the bigger the dot, the larger the market cap. Note that "N/A" values will not show up in the chart.
Public Storage Earnings Yield (Joel Greenblatt) % vs REITs Industry
For the REITs industry and Real Estate sector, Public Storage's Earnings Yield (Joel Greenblatt) % distribution charts can be found below:
* The bar in red indicates where Public Storage's Earnings Yield (Joel Greenblatt) % falls into.
Public Storage Earnings Yield (Joel Greenblatt) % Calculation
In his book, The Little That Beat the Market, hedge fund manager Joel Greenblatt defines Earnings Yield as operating income divided by enterprise value.
Public Storages Earnings Yield (Joel Greenblatt) for the fiscal year that ended in Dec. 2025 is calculated as
Public Storage's EBIT for the trailing twelve months (TTM) ended in Jun. 2026 adds up the quarterly data reported by the company within the most recent 12 months, which was $2,375 Mil.
What does a Earnings Yield (Joel Greenblatt) % of 3.38% mean?
Public Storage (PSA) has a Earnings Yield (Joel Greenblatt) % of 3.38% as of Jun. 2026. Joel Greenblatt's earnings yield equals the ratio of earnings before interest and taxes to enterprise value. View historical data on Public Storage and its competitors. This is near median its historical median of 3.56. Over the past decade, Public Storage's Earnings Yield (Joel Greenblatt) % has ranged from 2.39 to 7.96. According to the industry distribution chart, Public Storage ranks #515 out of 957 companies in the REITs industry, placing it in the top 53.8%.
Is Public Storage's Earnings Yield (Joel Greenblatt) % too high?
Public Storage's current Earnings Yield (Joel Greenblatt) % of 3.38% is near median its 10-year median of 3.56. Over the past 10 years, this metric has ranged from a low of 2.39 to a high of 7.96. The REITs industry median Earnings Yield (Joel Greenblatt) % is 3.50. Public Storage's value of 3.38% is 3.4% below this industry median. Based on the distribution chart, Public Storage ranks #515 out of 957 companies in the REITs industry, which is below the industry midpoint. Overall, Public Storage has a GF Score™ of 92/100 and is considered Fairly Valued, reflecting its overall financial health beyond just this single metric.
How does Public Storage's Earnings Yield (Joel Greenblatt) % compare to EXR and EGP?
According to the REITs industry distribution chart, Public Storage ranks #515 out of 957 companies for Earnings Yield (Joel Greenblatt) %. This places Public Storage in the lower half of its industry. The industry median Earnings Yield (Joel Greenblatt) % is 3.50. Public Storage's value of 3.38% is 3.4% below this benchmark. Historically, Public Storage's own Earnings Yield (Joel Greenblatt) % has ranged from 2.39 to 7.96 over the past decade. While the company's 10-year median is 3.56 vs. the industry median of 3.50, Public Storage has consistently been below the industry average. See the competitive comparison table and distribution chart on this page for a detailed peer-by-peer breakdown.
What is a good Earnings Yield (Joel Greenblatt) % for a REITs company?
The median Earnings Yield (Joel Greenblatt) % among REITs companies is 3.50, based on 957 companies in the industry. Companies in the top quartile (top 25%) have a Earnings Yield (Joel Greenblatt) % significantly above this median, while those in the bottom quartile fall well below. However, Earnings Yield (Joel Greenblatt) % should not be evaluated in isolation — investors should consider it alongside profitability, growth, and financial strength metrics. Public Storage's current Earnings Yield (Joel Greenblatt) % of 3.38% is 3.4% below the industry median. Use the industry distribution chart on this page to see where any company falls relative to its peers.
What does a high Earnings Yield (Joel Greenblatt) % mean?
A high Earnings Yield (Joel Greenblatt) % can signal that a stock is expensive relative to its fundamentals. Joel Greenblatt's earnings yield equals the ratio of earnings before interest and taxes to enterprise value. View historical data on Public Storage and its competitors. For the REITs industry, the median Earnings Yield (Joel Greenblatt) % is 3.50 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Public Storage's current Earnings Yield (Joel Greenblatt) % is 3.38%, which is near median its own 10-year median of 3.56. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Public Storage stock overvalued right now?
Based on GuruFocus' analysis, Public Storage (PSA) is currently considered Fairly Valued. The stock's GF Value™ is $308.60, compared to a current price of $328.40 — trading 6.4% above its estimated fair value. The current Earnings Yield (Joel Greenblatt) % is 3.38%, which is near median its 10-year median of 3.56 and 3.4% below the REITs industry median of 3.50. Public Storage's overall GF Score™ is 92/100 with 6 warning signs to review. Investors should evaluate multiple metrics — including profitability, growth, and financial strength — before making a decision.
How is Earnings Yield (Joel Greenblatt) % calculated?
Earnings Yield (Joel Greenblatt) % is calculated from a company's financial statements. For Public Storage (PSA), the current Earnings Yield (Joel Greenblatt) % is 3.38% as of Jun. 2026. GuruFocus calculates this using data sourced from SEC filings and annual reports. See the calculation section and 30-year financial data on this page for the full breakdown.
Is Public Storage (PSA) Overvalued in 2026?
Based on GuruFocus' analysis, Public Storage stock appears to be overvalued.
The current stock price of $328.40 is trading 6.4% above its estimated GF Value™ of $308.60.
GuruFocus considers Public Storage to be Fairly Valued.
Key valuation signals for PSA:
Earnings Yield (Joel Greenblatt) %: 3.38% (near median its 10-year median of 3.56)
GF Value™: $308.60 vs. price of $328.40 (6.4% above fair value)
Industry Position: 3.4% below the REITs median (#515 of 957)
No single metric tells the full story. See the PSA stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
Public Storage is the largest owner of self-storage facilities in the US, with more than 3,500 self-storage facilities in 40 states and approximately 258 million square feet of rentable space. Through equity interests, it also has exposure to the European self-storage market through Shurgard Self Storage. The company also has a merchandise business, a third-party property management business, and an insurance business that offers products to cover losses for the goods in self-storage facilities.
92GF Score
Get the complete analysis for PSA
Earnings Yield (Joel Greenblatt) % is just one metric. See GF Value™, 30-year financials, guru trades, warning signs, and more.
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