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JPMorgan maintained its Overweight rating on Public Storage (NYSE:PSA) with a price target of $324.00 on Friday. The target sits within the broader analyst range of $287 to $380, with 4 analysts recently revising their earnings expectations upward according to InvestingPro data.
The research firm’s analysis of the self-storage real estate investment trust reaffirms its positive outlook on the company’s market position and financial performance.
Public Storage operates more than 2,800 self-storage facilities across the United States, making it one of the largest players in the self-storage industry.
The company has demonstrated resilience in the real estate sector, with its business model focusing on short-term leases that allow for more frequent price adjustments compared to other commercial real estate segments.
The maintained price target represents JPMorgan’s assessment of Public Storage’s potential value based on factors including revenue growth prospects, operational efficiency, and the overall market conditions in the self-storage sector.
In other recent news, Public Storage reported its first-quarter 2025 financial results, revealing a mixed performance. The company posted an earnings per share (EPS) of $2.04, which fell short of the forecasted $2.42. However, revenue was in line with expectations at $1.18 billion. Despite the EPS miss, Public Storage demonstrated a 2.2% year-over-year increase in core funds from operations (FFO) per share, reaching $4.12. The company is also expanding internationally with a proposed acquisition in Australia and New Zealand. Analysts from firms like Morgan Stanley (NYSE:MS) and KeyBanc Capital Markets have been closely monitoring these developments. Public Storage maintained its 2025 guidance, anticipating some impact from Los Angeles rent restrictions, while remaining optimistic about its development investments. The company’s digital transformation efforts are progressing, with 85% of customer interactions now digital.
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