Public Storage (PSA) PT Raised to $326 at Stifel

Stifel analyst Stephen Manaker raised the price target on Public Storage (NYSE: PSA) to $326.00 (from $320.00) while maintaining a Buy rating.

The analyst commented, "We are increasing our earnings estimates for PSA and the rest of our self-storage coverage universe. We put out an industry note (Self-Storage REITs - Raising Estimates On Strong Operating Environment) that explains why we are increasing earnings and our thoughts about the current self-storage environment. Details for the model changes for PSA are below. In addition, we are increasing our target price to $326/share, based on a 25.8x multiple on our 2022 FFO estimate."

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