Extra Space Storage Shares Are Down As Weak Demand, Low Housing Churn Clouds Future
5
0
Extra Space Storage Inc. (NYSE:EXR) shares are trading lower today. Bank of America Securities analyst Joshua Dennerlei downgraded the stock to Underperform from Neutral and lowered the price target to $155 from $172.
Last week, the company reported sales of $697.1 million, missing the street view of $728.8 million.
Second-quarter funds from operations (FFO) came in at $2.06, surpassing the estimate of $2.00.
The company expects core FFO of $7.95-$8.15 for fiscal 2024.
The analyst expects declining storage demand prospects through 2025, …
Full story available on Benzinga.com
Visited 5 times, 1 visit(s) today