Public Storage Expansion Follows Price Target Cut After Q2 Results

Public Storage (NYSE:PSA) is one of the 12 Best REIT Stocks to Buy Right Now.

Hold rating and lowered price target on the stock following the Q2 earnings results announcement and expansion.

California-based company, Public Storage (NYSE:PSA), is North America’s largest self‑storage REIT, operating over 3,300 facilities across the U.S. and Europe. The company possesses more than 170 million net rentable square feet in high‑density markets. Founded in 1972, Public Storage (NYSE:PSA) generates recurring revenue via month‑to‑month leasing of storage units, packing supplies, and ancillary customer services through thousands of locations.

Public Storage (NYSE:PSA) reported its Q2 earnings results on July 31, 2025. Revenues during the quarter met expectations at $1.2 billion while same-store NOI saw a slight decline of 0.6% year-over-year in Q2 2025. However, the company’s NOI growth from non-same-store facilities contributed positively. Occupancy rate during the period stood at 92.6%. As per its 2025 outlook, the company’s full-year core FFO per share guidance is raised to a range of $16.45 – $17.00. In terms of expansion, the company has acquired 25 new self-storage facilities and added 0.9 million net rentable square feet by completing development projects.

While Scotiabank reiterated its Buy rating on the stock, RBC Capital maintained its Hold rating and lowered the price target significantly from $328 to $309. Additionally, Insider Monkey database recorded 42 hedge funds invested in the stock, signaling trust in the consistent demand for self-storage.

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