Barclays lifts Public Storage PT, sees steady demand

Extra Space Storage

05/03/2026 13:15

** 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

 (Reporting by Apratim Sarkar in Bengaluru)

 ((Apratim.Sarkar@thomsonreuters.com))