Baron Real Estate Fund reestablished a position in PSA citing potential growth inflection in self-storage demand and rents in 2026.
Baron Real Estate Fund added Public Storage (PSA) to its portfolio in Q1 2026, marking a shift in its stance on the self-storage sector. PSA closed at $324.71 on June 12, 2026, with a 9.05% one-month return and a 9.63% gain over the past year. The company holds a $57.21 billion market capitalization and operates over 3,500 U.S. properties.
The fund had previously avoided self-storage due to flat or negative growth but now sees signs of stabilization in demand and rents, alongside declining new supply. This could drive a growth reacceleration starting in 2026. Hedge fund interest in PSA remained steady, with 39 funds holding the stock at the end of Q1 2026, down slightly from 40 in the prior quarter.