RBC Capital lowered the firm’s price target on Extra Space Storage (EXR) to $160 from $163 and keeps a Sector Perform rating on the shares. The firm notes the company’s Q1 results were slightly above its expectations, while occupancy is in a strong position and move-in rates have finally gotten back to year-over-year parity. Most encouraging is that the demand backdrop has not become significantly stronger, suggesting further upside if demand eventually does pick up, RBC adds.
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Read More on EXR:
- Extra Space Storage Inc. Reports Strong Q1 2025 Results
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