With an annual dividend yield of 3.70%, Public Storage (NYSE:PSA) is included among the 12 Best NYSE Stocks to Buy for Dividends.
Public Storage (NYSE:PSA) is the leading provider of storage units for your personal, business, and vehicle needs with thousands of locations in the United States.
On June 23, Truist analyst Michael Lewis upped the firm’s price objective on Public Storage (NYSE:PSA) from $302 to $338, while maintaining a ‘Buy’ rating on the shares. The revised target implies an upside of over 4% from the current price level.
According to the analyst firm, Public Storage has recently outperformed the broader REIT sector. Despite the stock’s recent gains, Truist continues to see more upside, supported by improving fundamentals and the company’s strong, low-levered balance sheet.
Notably, Public Storage (NYSE:PSA) announced earlier on June 22 that it would acquirePublic Storage Canada, a separate company operating under the same brand, in a stock-and-cash deal valued at approximately $1.2 billion. The transaction is expected to close in the second half of 2026.
Tom Boyle, CEO of Public Storage (NYSE:PSA), commented:
“The acquisition of PS Canada represents a strategic opportunity to expand the Public Storage platform into major Canadian markets with attractive long-term fundamentals. This portfolio includes high-quality real estate in key markets, carries the Public Storage brand, and offers meaningful upside through our PS Next™ operating platform. Together with our previously announced National Storage Affiliates Trust transaction, this acquisition demonstrates the momentum of our value creation engine and the opportunity to deploy capital into highly strategic external growth opportunities. We are grateful to Tamara Hughes Gustavson and family for the opportunity to acquire this exceptional portfolio, which was thoughtfully built and operated for many decades. We are humbled by their continued confidence in the Company through a meaningful further investment as part of this transaction.”
While we acknowledge the risk and potential of PSA as an investment, our conviction lies in the belief that some AI stocks hold greater promise for delivering higher returns and doing so within a shorter time frame. If you are looking for an AI stock that is more promising than PSA and that has 10,000% upside potential, check out our report about this cheapest AI stock.
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