Scotiabank initiated coverage of Extra Space Storage (EXR) with an Underperform rating and $131 price target. The firm, which also started Public Storage (PSA) with a Sector Perform rating, thinks both stocks will face relative valuation pressure based on its “more negative” 2024-2025 funds from operations per share growth outlook for Storage REITs than for U.S. REITs overall, the analyst tells investors.
Elevate Your Investing Strategy:
- Take advantage of TipRanks Premium at 50% off! Unlock powerful investing tools, advanced data, and expert analyst insights to help you invest with confidence.
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
See the top stocks recommended by analysts >>
Read More on EXR:
- Extra Space Storage initiated with a Hold at Deutsche Bank
- Extra Space Storage Inc. Announces Tax Reporting Information for 2023 Distributions and Life Storage, Inc.’s 2023 Distributions
- Extra Space Storage price target raised to $166 from $125 at Jefferies
- Extra Space Storage price target raised to $152 from $138 at Truist
- Extra Space Storage upgraded to Equal Weight from Underweight at Morgan Stanley