Deutsche Bank lowered the firm’s price target on Extra Space Storage (EXR) to $157 from $159 and keeps a Hold rating on the shares. The firm says that after a year of bearishness on the self-storage sector, it is shifting to a neutral outlook. The change reflects the November Yardi data indicating that year-over-year declines in street rate growth have decelerated over the past few months, and self-storage real estate investment trusts reporting an uptick in investment activity, which should help drive external growth, the analyst tells investors in a research note.
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Read More on EXR:
- Extra Space Storage upgraded to Sector Perform from Underperform at Scotiabank
- Extra Space Storage price target lowered to $175 from $198 at Jefferies
- Extra Space Storage price target lowered to $167 from $173 at RBC Capital
- Extra Space Storage price target raised to $168 from $167 at Truist
- Extra Space Storage price target lowered to $167 from $169 at Scotiabank