Eric Wolfe, an analyst from Citi, maintained the Hold rating on Extra Space Storage. The associated price target is $150.00.
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Eric Wolfe has given his Hold rating due to a combination of factors related to Extra Space Storage’s recent financial performance and future projections. The company’s second-quarter earnings results prompted an update in the financial model, leading to a reduction in the core Funds From Operations (FFO) per share estimates for 2025 and 2026. This adjustment reflects a cautious outlook on the company’s medium-term storage fundamentals.
Furthermore, the target price for Extra Space Storage has been lowered to $150, indicating a modest expected share price return of 7.9%. These factors suggest a balanced risk-reward scenario, where the potential for significant upside is limited, justifying the Hold rating. Investors are advised to consider these elements as part of their broader investment decision-making process.
Wolfe covers the Real Estate sector, focusing on stocks such as American Homes, Invitation Homes, and Extra Space Storage. According to TipRanks, Wolfe has an average return of 5.7% and a 60.00% success rate on recommended stocks.
In another report released today, TR | OpenAI – 4o also reiterated a Hold rating on the stock with a $151.00 price target.