Fly News Breaks for August 21, 2019
Aug 21, 2019 | 09:20 EDT
Baird analyst RJ Milligan upgraded Public Storage (PSA) to Neutral from Underperform and raised his price target to $254 from $200. In a research note to investors, Miligan says it's "difficult" to recommend investors underweight any of the self-storage REITs given the relative safe-haven storage provides during recessions or when fear of a recession increases and the drastic drop in interest rates. The analyst also upgraded Life Storage (LSI) to Neutral.
News For PSA;LSI From the Last 2 Days
Feb 25, 2020 | 16:01 EST
Reports Q4 revenue $717.5M, consensus $721.24M.
Feb 25, 2020 | 08:56 EST
KeyBanc analyst Todd Thomas raised his price target for Life Storage to $122 from $114 saying that despite the challenging self storage environment, the company is "firing on all cylinders" and 2020 is poised to mark a turning point for Life Storage. Revenue growth continues to improve, controllable expenses are being contained, and there appears to be a long runway for capitalizing on a number of other initiatives, he contends. As a result, the analyst notes Life Storage's cost of capital is improving, which provides support for the company's external growth initiatives. Thomas reiterates an Overweight rating on the shares.