0118 GMT - The entry of U.S.-listed $Public Storage(PSA-N)$ into the Australian self-storage market could increase competitiveness, Citi analysts write in a note. They think that Public Storage, which has teamed up with privately held Ki Corp for a tilt at ASX-listed Abacus Storage King, could bring increased capital for expansion and development. Public Storage previously withdrew an offer for Australia's National Storage REIT in 2020 due to the uncertainty generated by the Covid-19 pandemic, they add. Citi has a last-published buy rating and A$1.40 target price on Abacus Storage King shares, which are up 14% at A$1.325. (stuart.condie@wsj.com)
(END) Dow Jones Newswires
April 06, 2025 21:18 ET (01:18 GMT)
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