I am still upbeat about shares of Public Storage (PSA), a US real estate investment trust (REIT) specializing in operations involving storage facilities in the US. The company’s market capitalization exceeds USD 40 bn. The company owns 2,266 storage facilities in the US, and it also operates on European markets.The company continues to deliver double-digit growth. According to the recently released report for Q315, revenue rose 9.1% y-o-y to USD 619 mn, funds from operations (Cor FFO) spiked 10.4% y-o-y to USD 2.33 per share, outpacing forecast of Wall Street analysts by 3%. An average annual increase of 6.7% in rental fee became a revenue growth driver. Public Storage has been seeking new growth opportunities by taking over attractive assets. The company acquired two storage facilities in Colorado in Q3. In addition, Public Storage purchased 11 storage facilities (one in California, eight in Florida and two in Texas) in October.A rebound in the US economy encourages higher demand for storage facilities, while supply is quite limited. As expected, revenue of Public Storage, occupancy and FFO will continue to grow against this backdrop. Despite robust upside YTD, we believe that Public Storage shares have prospects for further upside due to improved fundamentals of the US storage industry, the company's strong brand, its footprint in key markets, and expansion of its business through the commissioning of new facilities and strategic acquisitions. The company remains loyal to its shareholders and pays out generous dividends. Public Storage recently raised its quarterly dividend to USD 1.7 (+21% y-o-y), yielding 2.9%.I raised my target price for Public Storage shares to USD 245 and reiterate a Buy recommendation in the mid-term. The short-term technical target is USD 240.