Public Storage targets 14% stock gain after $1.2B Canada deal despite Q2 earnings miss.

Public Storage reported Q2 2026 core Funds From Operations (FFO) per share of $4.17, slightly missing analyst estimates by 1.9% due to a 2.2% drop in same-store net operating income. Despite this, the company completed a $1.2 billion acquisition of Public Storage Canada and improved average occupancy to 92.5%, signaling strategic growth and stable demand. Scotiabank raised its price target to $343, implying a 14% upside from the current stock price, reflecting confidence in the company's future prospects amid recent market shifts.