Keefe, Bruyette & Woods Reports on Public Storage

Keefe, Bruyette & Woods commented on Public Storage PSA in a report released earlier today. In the report, Keefe was mildly positive in its assessment. Keefe writes, "We are increasing our price target and earnings outlook for PSA, reflecting continued improvement in operating trends, lower interest expense as the company calls preferred shares, and ongoing acquisitions. Our price target increases to $115 from $110, or 20x 2012E adjusted FFO of $5.83." Keefe currently has a Market Perform rating on Public Storage and a price target of $115. Shares of the company closed at $117.31 yesterday, down slightly from the opening price of $117.68.