Scotiabank analyst Nicholas Yulico raised the firm’s price target on Extra Space Storage to $159 from $140 and keeps an Underperform rating on the shares. According to the firm’s web scraps of the company, pricing looks to have peaked in June and declined in July, which is earlier than expected, the analyst tells investors. Consequently, Scotiabank is lowering its 2024 same-store revenue and funds from operations per share estimates to reflect a weaker second half of 2024 with expected pricing trends.
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Read More on EXR:
- Extra Space Storage management to meet virtually with Seaport Research
- Citi opens ‘positive catalyst watch’ on Extra Space Storage
- Extra Space Storage price target lowered to $160 from $168 at Citi
- Extra Space Storage Inc. Announces 2nd Quarter 2024 Dividend
- Extra Space Storage price target raised to $158 from $157 at Barclays
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