Extra Space Storage price target raised to $166 from $149 at Scotiabank

Scotiabank raised the firm’s price target on Extra Space Storage (EXR) to $166 from $149 and keeps an Outperform rating on the shares. The firm is adjusting its estimates on U.S. Real Estate & REITs in its coverage following Q1 results, the analyst tells investors. Quarterly results contained some negative surprises, but generally played out as expected, with most companies maintaining FY25 guidance, the firm notes. Real estate fundamentals tend to lag, so many are looking to see the potential impact of the slowing economy on H2 2025 results, the firm adds. Scotiabank notes it prefers Extra Space Storage.