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Public Storage

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Public Storage is slated to report fourth-quarter 2016 results on Feb 22. The company recently unveiled a new facility in Jersey City, NJ. Specifically, the company has transformed a 100-year old building into one of the largest modern self-storage facilities with climate controlled units. The move came as part of the company’s effort to expand in the region. Notably, shares of the company outperformed the Zacks categorized REIT and Equity Trust – Other industry over the past three months. However, its estimates for full year 2016 have remained unchanged over the past 60 days. The company is a recognized and established name in the self-storage industry in the U.S. and its acquisition and expansion efforts are encouraging. However, softness in demand and rising supply in some of the markets are its concerns. Rate hike also adds to its woes.


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