UPDATE: Jefferies Lowers PT on Public Storage on Limited Upside
In a report published Thursday, Jefferies analyst Omotayo Okusanya reiterated a Hold rating on Public Storage (NYSE: PSA), but lowered the price target from $165.00 to $160.00.
In the report, Jefferies noted, “We see limited upside in PSA's shares in the near-term despite solid results in 2Q13, given: 1) the portfolio is essentially fully occupied at 94.9% as of June 30, 2013; and 2) due to PSA's size, it is harder to grow earnings via acquisitions. We are lowering our PT to $160 due to rising interest rates and maintain our Hold Rating.”
Public Storage closed on Wednesday at $152.55.
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