Extra Space Storage (EXR) PT Raised to $178 at Stifel

June 18, 2021 6:36 AM EDT
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Price: $175.73 --0%

Rating Summary:
    12 Buy, 7 Hold, 2 Sell

Rating Trend: = Flat

Today's Overall Ratings:
    Up: 18 | Down: 21 | New: 43
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Stifel analyst Stephen Manaker raised the price target on Extra Space Storage (NYSE: EXR) to $178.00 (from $166.00) while maintaining a Buy rating.

The analyst commented, "We are increasing our earnings estimates for EXR and the rest of our self-storage coverage universe. We put out an industry note (Self-Storage REITs - Raising Estimates On Strong Operating Environment) that explains why we are increasing earnings and our thoughts about the current self-storage environment. Details for the model changes for EXR are below. In addition, we are increasing our target price to $178/share, based on a 27.5x multiple on our 2022 FFO estimate."

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