Scotiabank Lowers Price Target for Extra Space Storage to $162, Maintains Outperform Rating

Scotiabank has reduced its price target for Extra Space Storage (EXR) from $166 to $162 while maintaining an Outperform rating. The adjustment reflects the firm's review of US Real Estate and REITs sector stocks following the latest Q2 earnings results. Extra Space Storage owns and operates nearly 4,000 self-storage properties across 42 states, with a market capitalization of approximately $30.09 billion. The company's financial health is underscored by strong profitability and revenue growth, but liquidity and insider activity concerns may impact investor sentiment.