01/05/2025, 05:18 AM UTC
公共存储是一家吸引人的公司,但不是一个吸引人的前景Public Storage Is An Appealing Firm, But Not An Appealing Prospect
1、尽管公共存储在自存储行业中是一个强大的运营商,拥有显著的市场份额,但由于估值过高,仍维持‘持有’评级;2、收入增长由收购驱动,但由于每平方英尺的租金收入和入住率下降,利润和现金流有所下降;3、与同行相比,公共存储的净杠杆率较低,在行业供应增长放缓的背景下,提供了运营灵活性和战略收购的潜力。1. Public Storage remains a 'hold' due to high valuation despite being a strong operator in the self-storage industry with a significant market share; 2. Revenue growth driven by acquisitions, but profits and cash flows have declined due to lower rental revenue per square foot and occupancy rates; 3. Public Storage has less net leverage compared to peers, providing operational flexibility and potential for strategic acquisitions amid slower industry supply growth.---
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