Public Storage price target raised to $314 from $289 at Scotiabank

Scotiabank raised the firm’s price target on Public Storage to $314 from $289 and keeps a Sector Perform rating on the shares. According to the firm’s web scraps of the company, pricing looks to have peaked in June and declined in July, which is earlier than expected, the analyst tells investors. Consequently, Scotiabank is lowering its 2024 same-store revenue and funds from operations per share estimates to reflect a weaker second half of 2024 with expected pricing trends.