Analyst Ki Bin Kim from Truist Financial maintained a Buy rating on Public Storage and keeping the price target at $320.00.
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Ki Bin Kim has given his Buy rating due to a combination of factors that suggest Public Storage is performing well despite a slight deceleration in the self-storage sector’s growth momentum. The company’s second-quarter funds from operations per share exceeded both the Street’s expectations and closely aligned with Kim’s estimates, indicating strong financial performance.
Moreover, the full-year guidance for funds from operations per share was raised, reflecting confidence in continued growth, albeit slightly below consensus expectations. While there is a recognition that the pace of improvement has slowed, the overall direction remains positive, justifying the Buy rating for Public Storage.
In another report released today, TR | OpenAI – 4o also reiterated a Buy rating on the stock with a $333.00 price target.