Digital Realty Trust, Inc. (DLR) vs Public Storage (PSA)
A side-by-side comparison of Digital Realty Trust, Inc. and Public Storage across valuation, profitability, dividends, and growth — built entirely from reported fundamentals, as of September 11, 2026. Differences are shown without an overall score or investment verdict.
Total return — DLR vs PSA
growth of $100 · dividends reinvested · last 10yDLR vs PSA: by the numbers
- •DLR is the larger company ($69.77B vs $55.29B market cap).
- •PSA converts more revenue to profit (41.80% vs 11.67% net margin).
- •DLR grew revenue faster over the past five years (9.91% vs 9.62% CAGR).
- •PSA pays the higher dividend yield (4.07% vs 2.63%).
Metrics side by side
Valuation
| Metric | DLR | PSA |
|---|---|---|
| P/E ratio | 91.10 | 28.29 |
| Forward P/E | 69.63 | 29.57 |
| P/S ratio | 10.19 | 11.31 |
| P/B ratio | 2.54 | 6.02 |
| EV / EBITDA | 26.75 | 18.49 |
| FCF yield | 1.96% | 5.10% |
For REITs like Digital Realty Trust, Inc., GAAP P/E is distorted: heavy non-cash property depreciation depresses reported earnings and overstates the multiple. Real-estate companies are valued on funds from operations (FFO / AFFO) and price-to-FFO — see the Funds From Operations section. The P/E is shown for reference only.
For REITs like Public Storage, GAAP P/E is distorted: heavy non-cash property depreciation depresses reported earnings and overstates the multiple. Real-estate companies are valued on funds from operations (FFO / AFFO) and price-to-FFO — see the Funds From Operations section. The P/E is shown for reference only.
Profitability
| Metric | DLR | PSA |
|---|---|---|
| Gross margin | 55.39% | 24.96% |
| Operating margin | 17.87% | 48.30% |
| Net margin | 11.67% | 41.80% |
| ROE | 2.91% | 22.24% |
| ROIC | 2.25% | 11.74% |
Dividends
| Metric | DLR | PSA |
|---|---|---|
| Dividend yield | 2.63% | 4.07% |
| Payout ratio | 235.75% | 114.50% |
Digital Realty Trust, Inc.'s payout ratio is measured against GAAP earnings, which non-cash depreciation depresses for REITs — the dividend is conventionally assessed against funds from operations (FFO / AFFO) instead, so the GAAP figure overstates the payout burden.
Public Storage's payout ratio is measured against GAAP earnings, which non-cash depreciation depresses for REITs — the dividend is conventionally assessed against funds from operations (FFO / AFFO) instead, so the GAAP figure overstates the payout burden.
Growth (annualized)
| Metric | DLR | PSA |
|---|---|---|
| Revenue CAGR (5Y) | 9.91% | 9.62% |
| EPS CAGR (5Y) | 29.87% | 7.52% |
| FCF CAGR (5Y) | 12.36% | 9.64% |
| Total return CAGR (5Y) | 7.20% | 1.70% |
Frequently asked
- Which has grown faster, DLR or PSA?
- Over the past five years, DLR grew revenue faster — DLR at a 9.91% CAGR versus PSA at 9.62%.
- Does DLR or PSA pay a bigger dividend?
- DLR yields 2.63% and PSA yields 4.07% based on trailing dividends and the latest price.
- Is DLR or PSA more profitable?
- PSA runs the higher net margin — DLR at 11.67% versus PSA at 41.80%.
- How have DLR and PSA total returns compared?
- Over the past 10 years, DLR delivered 10.50% and PSA delivered 6.81% annualized total return. Past performance doesn't predict future results.
Go deeper
Dig into the metrics
Digital Realty Trust & Public Storage appear in these rankings
Figures are sourced from reported fundamentals and the latest end-of-day price. This comparison is informational only and is not investment advice. Past performance does not predict future results. See our methodology. Compiled by TGMCharts Research · data verified September 11, 2026.