Positive Indicators and Strong Performance Justify Buy Rating for Public Storage

Analyst Ki Bin Kim of Truist Financial maintained a Buy rating on Public Storage (PSA – Research Report), retaining the price target of $310.00.

Ki Bin Kim’s rating is based on several positive indicators for Public Storage. The company has shown signs of market stabilization, with move-in rent declines improving from previous quarters. March saw a smaller year-over-year decline in move-in rents, suggesting a positive trend. Additionally, same-store revenue and net operating income were flat year-over-year, which is better than the previous quarter’s performance and ahead of full-year guidance.
Furthermore, the first quarter of 2025 saw a funds from operations (FFO) per share of $4.12, surpassing both consensus and internal estimates. Although the full-year FFO guidance remains slightly below street estimates, the company’s pricing strategy appears robust. The management has reported no demand degradation due to macroeconomic concerns, indicating that the demand for self-storage is improving compared to last year. These factors combined justify Ki Bin Kim’s Buy rating for Public Storage.

According to TipRanks, Bin Kim is a 5-star analyst with an average return of 8.3% and a 59.38% success rate. Bin Kim covers the Real Estate sector, focusing on stocks such as Public Storage, Eastgroup Properties, and Acadia Realty.

In another report released today, BMO Capital also reiterated a Buy rating on the stock with a $340.00 price target.