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Public Storage Expands Presence in Texas with Frisco Facility

Public StoragePSA disclosed the opening of a new self-storage facility in Frisco, TX. The move is part of the company's efforts of enhancing its footprint in the region. The facility is offering over 1,000 self-storage spaces on five acres in the center of Frisco, which marks the company's first location in the town.

Frisco is a fast-paced suburb in the country. The neighborhood houses young families, good schools and parks, and has very low crime rates as well. This makes it a good place to live, thereby offering Public Storage a way to leverage on the storage needs of the region.

The company is offering the climate-controlled as well as budget-friendly units at the new facility. Located right on a main road and just off of the Dallas-North Tollway, this facility is likely to help Public Storage to reap decent gains. Notably, Public Storage, with over 2,250 locations around the nation, has a total of nine units in cities north of Dallas.

Going forward, we have faith in Public Storage's strong brand image, which is a recognized name in the self-storage industry. Healthy performance of its U.S. portfolio, high brand value and strong presence in key cities serve as important growth drivers. Expansion and acquisition initiatives are further likely to aid its performance.

Public Storage, which, along with its storage operations, enjoys a 42% common equity in another REIT - PS Business Parks PSB , which currently has a Zacks Rank #2 (Buy). Investors interested in the REIT industry may also consider stocks like CubeSmart CUBE and Sovran Self Storage Inc. SSS . Both these stocks have the same rank.

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PUBLIC STORAGE (PSA): Free Stock Analysis Report

PS BUSINESS PKS (PSB): Free Stock Analysis Report

SOVRAN SLF STOR (SSS): Free Stock Analysis Report

CUBESMART (CUBE): Free Stock Analysis Report

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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.


The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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