Truist raised its price target on Public Storage to $338 from $302 while maintaining a Buy rating. Analyst Michael Lewis cited the company's recent outperformance versus the broader REIT sector and improving fundamentals, supported by a strong, low-levered balance sheet. The new target implies over 4% upside from current levels. The move follows Public Storage's announcement that it will acquire Public Storage Canada in a stock-and-cash deal valued at approximately $1.2 billion, expected to close in the second half of 2026.
Public StorageTruist raised price target to $338, citing outperformance and improving fundamentals, and Public Storage announced a $1.2B acquisition.
Truist Financial Corp