Caitlin Burrows, an analyst from Goldman Sachs, maintained the Buy rating on Extra Space Storage (EXR – Research Report). The associated price target is $175.00.
Caitlin Burrows has given her Buy rating due to a combination of factors that suggest potential growth for Extra Space Storage. Despite the company’s 4Q24 core FFOPS being slightly below expectations, the initial guidance for 2025 indicates a slight improvement in Core FFO growth, which is a positive signal for future performance.
Furthermore, Extra Space Storage’s management strategy of prioritizing high occupancy rates over rental rates is expected to position the company well for growth when market conditions improve. Additionally, the narrowing gap between move-in and move-out rates, with move-in rates showing improvement, is likely to positively impact same-store revenue growth, making the stock an attractive buy for investors.
In another report released today, Barclays also maintained a Buy rating on the stock with a $184.00 price target.
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