Source: Dolly.com
Public Storage (PSA) appears to be heading for trouble in the near future. This self-storage company and its industry have experienced steady growth over the past 10 years. But because of so much rapid growth, the market seems to be saturated and individual Public Storage locations are ultimately competing with each other. As a result, Bank of America has downgraded the company citing elevated supply and limited earnings vision for 2020. Other bad news facing the company includes a California settlement over claims of Public Storage's price-gouging tactics.
When considering