Two downgrades in public storage space


Public Storage (PSA -1.1%) and Extra Storage Space (EXR -0.7%) are lower after each lost their Buy ratings at Jefferies.

Analyst Omotayo Okusanya boosted full year 2014 and 2015 FFO per share estimates for EXR to $2.48 and $2.72, respectively, but still, the 2015 expectation represents just 10% annualized growth, the lowest since 2010. The price target remains at $53.

The 2014 and 2015 core FFO per share estimates for PSA are lowered to $8.04 and $8.56, respectively, with the 2015 number representing just 7% growth, also the lowest since 2010. The PSA price target is cut to $175 from $185.

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Comments (2)
  • Patent News
    , contributor
    Comments (1464) | Send Message
     
    interesting... it would seem people are buying more stuff thus public storage can still outperform?
    8 May 2014, 12:24 PM Reply Like
  • JMajoris
    , contributor
    Comments (1408) | Send Message
     
    We do a lot of construction progress aerial photography and most of my clients are building multi family rentals vs condos and townhouses which were the norm pre 2008.

     

    These units are tiny. = Good for the public storage sector.
    7 Jul 2014, 07:15 AM Reply Like
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