Extra Space Storage Inc. shares rose by 3.01% as the stock reached a 20-day high, reflecting positive market conditions.
This increase is attributed to the promotion of Noah Springer to President, enhancing the company's strategic leadership and operational oversight. His experience and role in developing the Management Plus platform, which has become the largest third-party management platform in the storage sector, are expected to drive further growth and innovation. The executive team will also present at the KeyBanc Capital Markets Self Storage Investor Forum, showcasing the company's strategic direction.
The leadership change is likely to improve operational efficiency and investor confidence, positioning Extra Space Storage for continued success in a competitive market.
Wall Street analysts forecast EXR stock price to rise over the next 12 months. According to Wall Street analysts, the average 1-year price target for EXR is 152.00 USD with a low forecast of 142.00 USD and a high forecast of 178.00 USD. However, analyst price targets are subjective and often lag stock prices, so investors should focus on the objective reasons behind analyst rating changes, which better reflect the company's fundamentals.
11 Analyst Rating
Wall Street analysts forecast EXR stock price to rise over the next 12 months. According to Wall Street analysts, the average 1-year price target for EXR is 152.00 USD with a low forecast of 142.00 USD and a high forecast of 178.00 USD. However, analyst price targets are subjective and often lag stock prices, so investors should focus on the objective reasons behind analyst rating changes, which better reflect the company's fundamentals.
4 Buy
7 Hold
0 Sell
Moderate Buy
Current: 137.160
Low
142.00
Averages
152.00
High
178.00
Current: 137.160
Low
142.00
Averages
152.00
High
178.00
Truist
Hold
maintain
$142 -> $146
2026-01-20
Reason
Truist
Price Target
$142 -> $146
AI Analysis
2026-01-20
maintain
Hold
Reason
Truist raised the firm's price target on Extra Space Storage to $146 from $142 and keeps a Hold rating on the shares. The firm adjusted ratings and targets in the real estate investment trust group as part of its 2026 outlook. Truist remains Neutral on REITs for 2026, saying fundamentals are improving as new supply slows and demand appears steady for high-quality assets. However, the stocks do not appear particularly cheap, the analyst tells investors in a research note. Truist is relatively bullish on healthcare, industrial, strip retail, gaming and lodging REITs, neutral on manufactured housing, multifamily, self-storage and triple net, and relatively cautious on mall and office.
Scotiabank
Nicholas Yulico
Outperform -> Sector Perform
downgrade
$162 -> $145
2026-01-08
Reason
Scotiabank
Nicholas Yulico
Price Target
$162 -> $145
2026-01-08
downgrade
Outperform -> Sector Perform
Reason
As previously reported, Scotiabank analyst Nicholas Yulico downgraded Extra Space Storage (EXR) to Sector Perform from Outperform with a price target of $145, down from $162. Following its meetings at Nareit in December and Q4 company updates, the firm now models a weaker 2026/2027 Self Storage revenue growth setup and expects Extra Space to lose its modest FFO per share multiple premium given it believes growth across several metrics will be similar to main peer Public Storage (PSA).
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UBS
Michael Goldsmith
Buy
downgrade
$156 -> $148
2026-01-08
Reason
UBS
Michael Goldsmith
Price Target
$156 -> $148
2026-01-08
downgrade
Buy
Reason
UBS analyst Michael Goldsmith lowered the firm's price target on Extra Space Storage to $148 from $156 and keeps a Buy rating on the shares. 2026 is expected to mark a pivotal REIT turnaround, with forecast total returns of 9%-11% driven by improving macro conditions, attractive valuations, easing supply pressures, and a more stable political backdrop, the analyst tells investors in a research note. The outlook points to a bifurcated year with defensiveness in the first half of 2026 and stronger catalysts in the second half, favoring Healthcare, Shopping Centers, and Coastal Apartments, UBS says.
Scotiabank
Outperform -> Sector Perform
downgrade
$145
2026-01-07
Reason
Scotiabank
Price Target
$145
2026-01-07
downgrade
Outperform -> Sector Perform
Reason
Scotiabank downgraded Extra Space Storage to Sector Perform from Outperform with a $145 price target.
About EXR
Extra Space Storage, Inc. is a self-administered and self-managed real estate investment trust (REIT). The Company owns, operates, manages, provides lending to, acquires, develops and redevelops self-storage properties (stores). Its stores offer month-to-month rental of storage space for personal or business use. Its segments include self-storage operations and tenant reinsurance. Its self-storage operations segment includes rental operations of wholly owned stores. Its tenant reinsurance segment includes the reinsurance of risks relating to the loss of goods stored by tenants in its stores. The Company owns and operates 4,238 self-storage properties, which comprise approximately 2.9 million units and approximately 326.9 million square feet of rentable storage space operating under the Extra Space brand. It offers customers a selection of conveniently located and secure storage units across the country, including boat storage, RV storage and business storage.
About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
