Extra Space Storage price target raised to $156 from $145 at Scotiabank

Scotiabank raised the firm’s price target on Extra Space Storage (EXR) to $156 from $145 and keeps a Sector Perform rating on the shares. The firm is updating its price targets for U.S. Real Estate & REIT stocks under its coverage following Q4 results, the analyst tells investors. Scotiabank believes REITs should be raising target development yields to focus on near-term funds from operations per share impact and believes external growth from acquisitions offer a “better thematic story,” the firm adds.