Public Storage price target raised to $289 from $270 at Scotiabank

Scotiabank analyst Nicholas Yulico raised the firm’s price target on Public Storage to $289 from $270 and keeps a Sector Perform rating on the shares. Following Q1, the firm remains cautious on the U.S. Self-Storage REITs subsector given its view that housing mobility and home sales need to improve to spur more storage rental demand, which is not expected to occur during this Spring/Summer leasing season, the analyst tells investors.