03:55 PM EDT, 05/01/2026 (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 increase our target by $4 to $322 on a forward P/FFO of 19.2x our 2026 FFO estimate, a premium to self-storage peers at 16.7x and to PSA's three-year forward average P/FFO of 17.4x. We decrease our 2025 FFO view by $0.26 to $16.73 and decrease 2027 by $0.09 to $17.93. Q1's most positive news was a material reduction in customer churn that led to lower move-out activity, improving occupancy by 40 bps Y/Y. If this continues throughout FY 2026 we would have to increase our FFO outlook. However, weakness remains in the Sun Belt markets, with Atlanta, Phoenix, and parts of Florida facing headwinds from negative same-property revenue growth Y/Y. Los Angeles also remains a drag, with the state of emergency negatively impacting pricing and creating an 80 bps drag on same-store revenue growth this year. We expect PSA's top-line performance to weaken in Q2-Q3 this year with revenue headwinds before the outlook improves in Q4 heading into 2027.