Barclays lifts Public Storage PT, sees steady demand
Barclays raise PT on real estate investment trust Public Storage PSA.N to $347 from $331, maintains rating at "overweight"
New PT implies an upside of 11.6% from the stock's last close
Barclays says co best positioned to capture demand due to their scale, data advantages, and broader ancillary businesses, supporting stronger core FFO growth
Adds that self-storage adoption is likely to keep rising as younger generations increasingly choose it for convenience and affordability
Expects supply and demand to keep improving through 2026, but slowly, as new supply and weak housing demand are still weighing on the market
Peer Extra Space Storage EXR.N also gets a PT hike to $170 from $164
Seven of 21 brokerages rate the stock "buy" or higher, fourteen "hold"; their median PT is $310- data compiled by LSEG
As of last close, stock had risen 19.8% this year
