American Tower vs Public Storage (AMT vs PSA)
Side by side from their SEC filings: revenue, margins, growth, returns and valuation, plus short interest, insider activity and institutional ownership.
American Tower is the larger company by revenue ($10.6B vs $4.8B) and market value ($83.6B vs $54.0B). Public Storage has grown revenue faster over the last 4 fiscal years (+41.2% cumulative vs +13.8%). American Tower trades at the lower trailing P/E (24.7x vs 27.6x).
About American Tower
American Tower Corp is a global real estate investment trust that owns, operates, and develops multitenant communications real estate. The company leases space on its communications sites, including towers and distributed antenna system networks, to wireless service providers, broadcasters, government agencies, and other tenants. It also operates data centers and provides tower-related services such as site application, zoning, permitting, and construction management primarily in the United States.
About Public Storage
Public Storage is a real estate investment trust that owns, develops, and operates self-storage facilities across the United States. It leases storage spaces on a month-to-month basis for personal and business use and manages insurance programs for tenants. The company also offers merchandise such as locks and boxes, provides bridge lending to third-party self-storage owners, and holds a significant interest in a European self-storage company.
Head to head (AMT FY2025 vs PSA FY2025)
| Metric | AMTFY2025 | PSAFY2025 |
|---|---|---|
| Revenue | $10.64B | $4.82B |
| Revenue growth (YoY) | 5.1% | 2.7% |
| Gross margin | — | — |
| Operating margin | 45.5% | — |
| Net margin | 24.7% | 37.0% |
| Net income | $2.63B | $1.78B |
| Diluted EPS | $5.40 | $9.01 |
| FCF margin | 35.5% | — |
| ROE | 25.4% | 19.1% |
| Long-term debt / equity | 3.27× | 1.10× |
| Market cap | $83.59B | $53.96B |
| P/E | 24.7× | 27.6× |
Fundamentals are from each company’s SEC filings (AMT FY2025, PSA FY2025). ROE is net income over fiscal-year-end equity; long-term debt / equity counts non-current term debt only. P/E and market cap are derived from stored market prices, last retrieved on a rolling basis and typically within the past week.
Five-year trend (as reported)
| Revenue | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 |
|---|---|---|---|---|---|
| AMT | $9.36B | $9.65B | $10.01B | $10.13B | $10.64B |
| PSA | $3.42B | $4.18B | $4.52B | $4.70B | $4.82B |
Peer standing
Where each company ranks among the 165 REITs, on the same scale. Each figure is ranked only against peers that report it. Percentiles describe position in the distribution, not a rating.
| Metric | AMT | PSA |
|---|---|---|
| Net margin | 24.7%71st percentile of 157 | 37.0%85th percentile of 157 |
| Revenue growth (YoY) | +5.1%60th percentile of 161 | +2.7%47th percentile of 161 |
| ROE | 25.4%96th percentile of 142 | 19.1%93rd percentile of 142 |
| P/E | 24.7×50th percentile of 105 | 27.6×58th percentile of 105 |
| Long-term debt / equity | 3.27×89th percentile of 100 | 1.10×51st percentile of 100 |
| Short interest (days to cover) | 2.43d23rd percentile of 154 | 7.05d82nd percentile of 154 |
Short interest
| FINRA settlement data | AMT | PSA |
|---|---|---|
| Shares sold short | 7.3M | 6.7M |
| Change vs prior settlement | +20.8% | +8.1% |
| Days to cover | 2.43 | 7.05 |
| As of settlement | 2026-09-30 | 2026-09-30 |
Source: FINRA Consolidated Short Interest. FINRA is the owner and source of the FINRA-supplied data; republishing or redistributing it is not permitted. Not presented as a percentage of float. No FINRA endorsement of this product is implied.
Insider activity (last 90 days)
| Form 4 activity (codes P/S) | AMT | PSA |
|---|---|---|
| Buys | 1 ($500,733) | 0 |
| Sells | 3 ($1.2M) | 1 ($463,133) |
Non-derivative purchases (code P) and sales (code S) reported on SEC Form 4, which may be open-market or private (grants, exercises and tax withholding excluded). For context, about 15% of covered companies saw any reported insider purchase (code P) in a 90-day window.
Held by the same investors
6 tracked 13F managers hold both American Tower and Public Storage as of their latest quarterly filings: AQR Capital Management, Citadel Advisors, D. E. Shaw, Gotham Asset Management, Millennium Management, Two Sigma Investments. See which superinvestors hold your own portfolio with the smart money checker.
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Data sourced from SEC EDGAR. Figures are as-reported and may be unaudited or restated; verify against the source filings before relying on them. Comparisons are descriptive (higher or lower on a reported figure), not a rating or a recommendation. Informational only. Not investment advice.