Public Storage announced that its operating partners have agreed to acquire Public Storage Canada for approximately $1.2 billion, or CAD1.67 billion. The acquisition is expected to expand the company's network into major Canadian markets and create sustainable internal and external development potential. UBS recently restated a Neutral rating on Public Storage with a $314 price target, noting that the non-same-store pool will be a key growth catalyst amid sluggish demand. The firm cautioned that if Public Storage cannot improve external expansion in non-same-store markets, the integration could be a significant undertaking with limited upside.
Public StoragePublic Storage acquires Public Storage Canada for $1.2B, expanding into Canadian markets.
UBS Group AG