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.
Claim 55% Off TipRanks
- Unlock hedge fund-level data and powerful investing tools for smarter, sharper decisions
- Discover top-performing stock ideas and upgrade to a portfolio of market leaders with Smart Investor Picks
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on EXR:
- Extra Space Storage Inc. Reports Strong Q1 2025 Results
- Extra Space Storage Inc. Reports Strong Q1 Performance
- Cautious Hold Rating on Extra Space Storage Amid Positive Trends and Macroeconomic Uncertainties
- Balanced Outlook: Extra Space Storage’s Mixed Performance Warrants Hold Rating
- Extra Space Storage reports Q1 core FFO $2.00, consensus $1.96