As previously reported, Scotiabank analyst Nicholas Yulico downgraded Extra Space Storage (EXR) to Sector Perform from Outperform with a price target of $145, down from $162. Following its meetings at Nareit in December and Q4 company updates, the firm now models a weaker 2026/2027 Self Storage revenue growth setup and expects Extra Space to lose its modest FFO per share multiple premium given it believes growth across several metrics will be similar to main peer Public Storage (PSA).
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