Brokerage Firm Rating Update on Extra Space Storage Inc (EXR)

Extra Space Storage Inc (EXR) : The consensus on Extra Space Storage Inc (EXR) based on 12 analyst recommendation on the company stock is 2, which is interpreted as a Buy recommendation. Zacks Investment Research has issued a rank of 3 which endorses a Hold on the stock. However, 5 brokers have a differing view as they consider the stock to be a Strong Buy at current levels. 2 analyst believes that the stock is a Buy, which can produce decent returns in the future. 5 experts consider that the stocks earnings and the quoted price is in harmony, hence, they give it a Hold rating.

Extra Space Storage Inc (EXR) : 11 Wall Street analysts covering Extra Space Storage Inc (EXR) believe that the average level the stock could reach for the short term is $94.82. The maximum price target given is $105 and the minimum target for short term is around $85, hence the standard deviation is calculated at $5.29.


For the current week, the company shares have a recommendation consensus of Buy. Also, Equity Analysts at the Brokerage Firm, Raymond James, downgrades their rating on the shares of Extra Space Storage Inc (NYSE:EXR). Raymond James has a Outperform rating on the shares. Previously, the analysts had a Strong Buy rating on the shares. The rating by the firm was issued on August 12, 2016.

Extra Space Storage Inc (NYSE:EXR): The stock opened at $81.89 and touched an intraday high of $82.82 on Wednesday. During the day, the stock corrected to an intraday low of $81.39, however, the bulls stepped in and pushed the price higher to close in the green at $82.66 with a gain of 0.72% for the day. The total traded volume for the day was 773,731. The stock had closed at $82.07 in the previous trading session.

Extra Space Storage Inc. is a fully integrated, self-administered and self-managed real estate investment trust (REIT). The Company owns, operates, manages, acquires, develops and redevelops professionally managed self-storage properties (stores). The Company operates through three segments: rental operations; tenant reinsurance, and property management, acquisition and development. The Companys rental operations activities include rental operations of self-storage stores. Tenant reinsurance activities include the reinsurance of risks relating to the loss of goods stored by tenants in the Companys self-storage facilities. The Companys property management acquisition and development activities include managing acquiring developing and selling self-storage stores. As of December 31, 2014, it held ownership interests in 828 operating stores. Of these operating stores, 557 are wholly owned and 271 are owned in joint venture partnerships.

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