Barclays Boosts Public Storage (PSA) Target to $347 as Scotiabank Also Raises Forecast

Public Storage (NYSE:PSA) is included among the 13 Best REIT Dividend Stocks to Invest in.

On March 5, Barclays raised the firm’s price recommendation on Public Storage (NYSE:PSA) to $347 from $331. It maintained an Overweight rating on the shares. The firm updated its models for self-storage real estate investment trusts following the Q4 reports.

On March 2, Scotiabank also raised its price target on Public Storage, increasing it to $319 from $300. The firm reiterated an Outperform rating on the shares. The analyst said the firm is updating its price targets for U.S. Real Estate & REIT stocks under coverage after reviewing Q4 results. Scotiabank noted that REITs may need to raise their target development yields and place greater focus on the near-term impact on funds from operations per share. The firm also said external growth through acquisitions offers a “better thematic story.”

Public Storage (NYSE:PSA) is a real estate investment trust. Its main business involves owning and operating self-storage facilities that offer storage space for lease, usually on a month-to-month basis, for both personal and business use, along with related operations.

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