BofA Securities Downgrades Public Storage (PSA) to Neutral

BofA Securities analyst Jeffrey Spector downgraded Public Storage (NYSE: PSA) from Buy to Neutral with a price target of $310.00 (from $336.00).

The analyst comments "We are downgrading PSA to Neutral from Buy and lowering our PO to $310 from $336 based on two key reasons: 1) A lack of meaningful catalysts to drive an improvement, despite bottomed fundamentals & 2) Limited rental rev growth in ‘26 given ongoing LA fire‑related pricing restrictions and the likelihood of a conservative initial guidance that ultimately falls short of expectations. LA accounts for 16.2% of PSA’s SS NOI as of 3Q."

For an analyst ratings summary and ratings history on Public Storage click here. For more ratings news on Public Storage click here.

Shares of Public Storage closed at $288.50 yesterday.

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