09:50 AM EDT, 08/04/2025 (MT Newswires) -- CFRA, an independent research provider, has provided MT Newswires with the following research alert. Analysts at CFRA have summarized their opinion as follows:

We decrease our target by $25 to $290 on a forward P/FFO of 16.5x our 2026 FFO estimate, a premium to self-storage peers at 16.0x and discount to PSA's three-year forward average P/FFO of 17.9x. We increase our 2025 FFO view by $0.07 to $16.87 and increase 2026's estimate by $0.04 to $17.54. PSA has closed on (or is under contract) for $758 million in self-storage properties YTD at 5.25% going-in yields, with management seeing them stabilizing at over 6% in 2H 2026. Management is confident that the self-storage industry has already bottomed, with a slow continued recovery so far in 2025 as results have been seasonally stronger than expected. Regionally, West Coast markets are dramatically outperforming Sun Belt properties now, likely due to the excess construction of properties in the south since 2021. Existing customers continue to accept rate increases, with new customer demand slowly improving. We continue to believe occupancy headwinds will limit growth in 2H 2025, with rental growth picking up in 1H 2026.