Public Storage price target lowered to $315 from $320 at Truist

Truist lowered the firm’s price target on Public Storage (PSA) to $315 from $320 but keeps a Buy rating on the shares. The firm is increasing its 2025 normalized FFO estimate by 0.6% and its 2026 estimate by 1.8%, largely driven by a higher net operating income run rate from Q3 results, the analyst tells investors in a research note. Despite the price target cut, the firm still sees multiple expansion for Public Storage, Truist added.