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Fly News Breaks for August 28, 2019
PSA
Aug 28, 2019 | 07:27 EDT
Argus analyst Jacob Kilstein raised his price target on Public Storage to $290 and kept his Buy rating, saying the relatively higher yielding REITs should be more attractive to investors as interest rates come down. The analyst is also positive on the company's "economies of scale, strong brand recognition, and assets in locations with high barriers to entry." Kilstein contends that the valuation premium of Public Storage relative to peers is justified by its "consistent" performance and pricing power.
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