Zacks Dubs Public Storage 'Bull of the Day'

Public Storage, a real estate investment trust based in Glendale, Calif., was named the "Bull of the Day" for July 2 by Zacks Equity Research, Chicago.Shares of the self-storage REIT "have traded down about 17% since mid-April," Zacks said, attributing the phenomenon to a correction in the sector during which investors have taken profits after multiyear gains. "We think the sell-off has been overblown," Zacks said, citing the REIT's "strong earnings momentum" and predicting "even greater returns" as the economy strengthens. "With the acquisition of Shurgard, [Public Storage] removed a major competitor, and is by far the largest self-storage operator in the U.S.," the research firm said. The companies can be found online at http://www.zacks.com and http://www.publicstorage.com..