Extra Space Storage price target lowered to $137 from $154 at Mizuho

Mizuho lowered the firm’s price target on Extra Space Storage (EXR) to $137 from $154 and keeps an Outperform rating on the shares. The firm says self storage real estate investment trusts had a “lackluster” 2025 as expectations of fundamentals inflecting “proved to be premature.” While there have been some “green shoots” for the sector from improving move-in rates, transactions, and easing supply pressures, demand for self storage will remain “relatively muted” in 2026, as elevated mortgage rates, unaffordability concerns, and a weaker consumer will weigh on existing home sales, the analyst tells investors in a research note.