Here's Why You Should Hold Public Storage (PSA) Stock Now
Here's Why You Should Hold Public Storage (PSA) Stock Now. Public Storage PSA has been banking on growth opportunities through a series of acquisitions, of late. This has made the company well poised to benefit from the robust industry fundamentals and favorable market demographics. However, stiff competition in the self-storage industry has compelled the company to keep its pricing down, affecting the top line.The ‘Public Storage’ brand is the most recognized and established name in the self-storage industry, with presence in all major metropolitan markets of the United States. In fact, as of Jun 30, 2018, it had several facilities in development (2.2 million net rentable square feet), with an estimated cost of $315 million, as well as expansion projects (3.9 million net rentable square feet) worth roughly $364 million.Public Storage estimates to incur the remaining $445 million of development costs related to these projects mainly over the next 18 months.