NEW YORK (TheStreet) -- Public Storage (PSA - Get Report) shares are jumping 1.56% to $253.90 on Friday morning after Jefferies earlier today increased its price target to $254 from $252, citing numerous catalysts.
Analysts are bullish on the overall self-storage sector, as occupancies keep rising, rent growth is strong and supply remains largely in check.
Additionally, "We think there is still a significant consolidation opportunity in the self-storage sector," analysts said.
Despite its positive outlook, the firm is keeping its "hold" rating on the stock and prefers CubeSmart (CUBE), Extra Space Storage (EXR) and National Storage Affiliates Trust (NSA) over Public Storage.
Based in Glendale, CA, Public Storage is an equity real estate investment trust. It engages in the acquisition, development, ownership, and operation of self-storage facilities in the U.S. and Europe.
Separately, TheStreet Ratings currently has a "Buy" rating on the stock with a letter grade of A.
The company's strengths can be seen in multiple areas, such as its solid stock price performance, growth in earnings per share, increase in net income, revenue growth and expanding profit margins. We feel its strengths outweigh the fact that the company shows weak operating cash flow.
Recently, TheStreet Ratings objectively rated this stock according to its "risk-adjusted" total return prospect over a 12-month investment horizon. Not based on the news in any given day, the rating may differ from Jim Cramer's view or that of this articles' author.
You can view the full analysis from the report here: PSA