Morgan Stanley resumed coverage of Public Storage with an Equal Weight rating and $250 price target, arguing that slowing demand offsets the company’s “strong balance sheet.” Self storage demand moderated for the first time post-COVID in the last three months and the firm sees four incremental near-term demand headwinds, the analyst tells investors.
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Read More on PSA:
- Public Storage price target lowered to $330 from $360 at Stifel
- Public Storage price target lowered to $305 from $320 at Truist
- Public Storage files automatic mixed securities shelf
- Public Storage sees FY23 core FFO $16.40-$16.80, consensus $16.78
- Public Storage reports Q2 core FFO $4.28, consensus $4.20
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