Why Did BMO Capital Upgrade Extra Space Storage’s Stock?

By Carrie Williams

BMO Capital analyst Juan C. Sanabria upgraded Extra Space Storage (EXRResearch Report) to Buy today and set a price target of $145.00. The company’s shares closed last Monday at $123.79, close to its 52-week high of $131.59.

According to TipRanks.com, Sanabria is a 1-star analyst with an average return of 0.2% and a 47.7% success rate. Sanabria covers the Financial sector, focusing on stocks such as National Storage Affiliates, Healthpeak Properties, and Sabra Healthcare REIT.

Extra Space Storage has an analyst consensus of Moderate Buy, with a price target consensus of $126.67, which is a -0.1% downside from current levels. In a report issued on February 24, KeyBanc also maintained a Buy rating on the stock with a $134.00 price target.

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Extra Space Storage’s market cap is currently $16.33B and has a P/E ratio of 34.00. The company has a Price to Book ratio of 6.51.

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Extra Space Storage, Inc. is a real estate investment trust. It operates through the following segments: Self-Storage Operations and Tenant Reinsurance. The Self-Storage Operations segment includes rents The Tenant Reinsurance segment consists of reinsurance of risks relating to the loss of good stored by tenants in the firm’s stores. The company was founded by Kenneth Musser Woolley on April 30, 2004 and is headquartered in Salt Lake City, UT.