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Public Storage  (PSA)
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Public Storage's

Competitiveness


 

PSA Sales vs. its Competitors Q2 2021



Comparing the results to its competitors, Public Storage reported Total Revenue increase in the 2 quarter 2021 by 16.92 % year on year.
The revenue growth was below Public Storage's competitors average revenue growth of 21.12 %, recorded in the same quarter.

List of PSA Competitors

With net margin of 49.65 % company achieved higher profitability than its competitors.

More on PSA Margin Comparisons



Revenue Growth Comparisons




Net Income Comparison


Public Storage Net Income in the 2 quarter 2021 grew year on year by 30.37 %, faster than average growth of Public Storage's competitiors of 9.6 %

<<  More on PSA Income Comparisons


Public Storage's Comment on Competitors and Industry Peers


We believe that storage customers generally store their goods within a five mile radius of their home or business. Most of our facilities compete with other nearby self-storage facilities that use the same marketing channels and offer the same service as us. Generally, our competitors attract customers using the same marketing channels we use, including Internet advertising, signage, and banners. As a result, competition is significant and affects the occupancy levels, rental rates, rental income and operating expenses of our facilities.

While competition is significant, the self-storage industry remains fragmented in the U.S. We believe that we own approximately 6% of the aggregate self-storage square footage in the U.S., and that collectively the five largest self-storage operators in the U.S. own approximately 12%, with all other self-storage space owned by numerous private regional and local operators. We believe this market fragmentation enhances the advantage of our brand name, as well as the economies of scale we enjoy with approximately 71% of our same-store revenues in the 20 Metropolitan Statistical Areas with the highest population levels.

Such fragmentation also provides opportunities for us to acquire additional facilities; however, we compete with a wide variety of institutions and other investors who also view self-storage facilities as attractive investments. The amount of capital available for real estate investments greatly influences the competition for ownership interests in facilities and, by extension, the yields that we can achieve on newly acquired investments.





  

Overall company Market Share Q2 2021

Despite strong revenue increase of 16.92 % in Overall company, Public Storage lost market share, to approximate 0.71 %.





<<  More on PSA Market Share.
 

*Market share calculated with total revenue.


PSA's vs. Competition, Data

(Revenue and Income for Trailing 12 Months, in Millions of $, except Employees)



COMPANY NAME MARKET CAP REVENUES INCOME EMPLOYEES
Public Storage 3,086 57,407 1,524 5,300
Berkshire Hathaway Inc 267,320 511,121 81,322 0
Costco Wholesale Corp 195,929 242,688 5,079 205,000
Prologis Inc 4,594 114,650 2,156 1,505
SUBTOTAL 470,929 925,866 90,081 211,805


       
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