Research
BMO Capital Upgrades Extra Space Storage to Outperform From Market Perform, $170 Price Target
Extra Space Storage (EXR) has an average rating of overweight and mean price target of $158.21, according to analysts polled by FactSet.
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13 stories mentioning EXRUpdated 24d ago
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Wire
Evercore ISI Adjusts Price Target on Extra Space Storage to $152 From $149
Extra Space Storage (EXR) has an average rating of overweight and mean price target of $157.21, according to analysts polled by FactSet.Price: $148.65, Change: $+0.44, Percent Change: +0.29%
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Wire
Goldman Sachs Adjusts Price Target on Extra Space Storage to $160 From $152, Maintains Neutral Rating
Extra Space Storage (EXR) has an average rating of overweight and mean price target of $157.21, according to analysts polled by FactSet.Price: $147.33, Change: $-5.52, Percent Change: -3.61%
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Wire
Extra Space Storage Q2 Core FFO, Revenue Rise
Extra Space Storage (EXR) reported Q2 core funds from operations late Tuesday of $2.15 per diluted share, up from $2.05 a year earlier.Analysts polled by FactSet expected $2.07.Revenue for the three months ended June 30 rose to $874.2 million from $841.6 million a year earlier.Analysts expected $875 million.The company raised full-year core FFO guidance to $8.25 to $8.40 a share from the prior range of $8.05 to 8.35. Analysts expect $8.29.The company's shares fell 1.5% in after-hours trading.
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Wire
Extra Space Storage to Benefit From Better-Than-Expected Fundamentals, BofA Says
Extra Space Storage (EXR) is set to benefit from better-than-expected fundamentals in the current macro environment, BofA Securities said in a Tuesday note.Despite general investor concerns on consumers and the sluggish housing market reducing velocity, demand for storage remains steady, BofA analysts said. The main positive factor for the company is less pressure from self-storage supply, the analysts said.Even without an increase in storage demand due to housing mobility, the analysts said they expect the company's continued revenue growth into 2027, underpinned by stable occupancy and low-single-digit growth in move-in rates year over year, according to the note.Positive factors for Extra Space Storage include operating trends holding steady, supply trends moving in the right direction, customer behavior remaining stable, the stock's attractive valuation relative to peers, and the potential for a Q2 beat and raise in guidance, the note said.BofA Securities upgraded the company's stock rating to neutral from underperform and raised the price target to $156 from $147.Price: $147.52, Change: $+0.87, Percent Change: +0.59%
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Research
BofA Securities Upgrades Extra Space Storage to Neutral From Underperform, $156 Price Target
Extra Space Storage (EXR) has an average rating of overweight and mean price target of $155.50, according to analysts polled by FactSet.
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Wire
JPMorgan Raises Extra Space Storage Price Target to $157 From $144
Extra Space Storage (EXR) has an average rating of overweight and mean price target of $154.11, according to analysts polled by FactSet.Price: $150.46, Change: $+0.86, Percent Change: +0.57%
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Wire
Jefferies Adjusts Price Target on Extra Space Storage to $165 From $156
Extra Space Storage (EXR) has an average rating of overweight and mean price target of $152.72, according to analysts polled by FactSet.Price: $143.63, Change: $-0.22, Percent Change: -0.16%
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Research
Research Alert: CFRA Maintains Sell Opinion On Shares Of Extra Space Storage
CFRA, an independent research provider, has providedwith the following research alert. Analysts at CFRA have summarized their opinion as follows:We lower our 12-month target price by $5 to $125, 15.5x our 2026 P/FFO estimate, below self-storage peers (16.7x) given EXR's weak NOI growth outlook and elevated debt levels. We decrease our 2026 FFO estimate by $0.20 to $8.04 and lower 2027 by $0.21 to $8.31. Despite a stronger Q1 same-store performance than expected, management did not increase guidance, which we believe is due to macroeconomic factors that are affecting new customer demand growth (primarily higher gas prices and inflation). These trends have been more pronounced in Sun Belt markets (similar to all self-storage REITs), as the excess supply has severely limited rental growth in the past 18 months. We believe 2H 2026 will have weaker same-property performance, even if the macroeconomic environment improves due to stronger Y/Y comps from 2H 2025. We also see a new risk that PSA's partnership with Welltower Inc (WELL) may negatively impact EXR's value proposition for its third-party management platform.
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Wire
Goldman Sachs Adjusts Extra Space Storage Price Target to $152 From $156
Extra Space Storage (EXR) has an average rating of overweight and mean price target of $152, according to analysts polled by FactSet.Price: $142.12, Change: $+1.59, Percent Change: +1.13%
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Wire
Morgan Stanley Adjusts Price Target on Extra Space Storage to $155 From $152, Maintains Equalweight Rating
Extra Space Storage (EXR) has an average rating of overweight and mean price target of $152.22, according to analysts polled by FactSet.Price: $140.80, Change: $-0.22, Percent Change: -0.16%
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Research
Research Alert: Extra Space Storage Q1: Same-store Revenue Improved Q/q To +1.7%
CFRA, an independent research provider, has providedwith the following research alert. Analysts at CFRA have summarized their opinion as follows:EXR reported Q1 revenue of $856M (+4.4% Y/Y), with property revenue of $733M beating consensus by $5M. Same-store revenue improved to +1.7% Y/Y ($679M) from 0.4% in Q4, while same-store net operating income grew 1.2% Y/Y to $477M as operating expense growth of 2.7% Y/Y continued to outpace revenue performance. The sequential improvement in same-store revenue growth suggests some operational stabilization, though persistent margin pressure remains a concern. Management's current guidance implies elevated expenses in 2H 2026, with same-store expense growth expected to outpace revenue growth again in 2026. We believe the ongoing expense revenue growth imbalance will continue to pressure net operating income margins and limit the company's ability to generate meaningful operating leverage throughout the year. The persistent cost headwinds represent a key structural challenge for EXR's profitability outlook, particularly given management's expectation that this unfavorable dynamic will extend well into next year.
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Wire
Evercore ISI Adjusts Extra Space Storage Price Target to $149 From $150, Maintains In Line Rating
Extra Space Storage (EXR) has an average rating of overweight and mean price target of $153.22, according to analysts polled by FactSet.Price: $137.50, Change: $-1.38, Percent Change: -0.99%
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