Barclays initiated coverage of Extra Space Storage with an Overweight rating and $157 price target. The company has an ongoing opportunity to drive growth by bringing the acquired Life Storage portfolio up to the level of performance of its legacy assets, the analyst tells investors in a research note, adding that the occupancy gap has narrowed from 400bps at the time of acquisition in Q3 of 2023, to 200bps in Q4.
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Read More on EXR:
- Extra Space Storage price target lowered to $150 from $155 at Wells Fargo
- Extra Space Storage sees FY24 core FFO $7.85-$8.15, consensus $8.34
- Extra Space Storage reports Q4 core FFO $2.02, consensus $2.03
- Extra Space Storage Inc. Reports 2023 Fourth Quarter and Year-End Results
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