Self-Storage REITs Analyst Is Bullish On Extra Space Storage, But No Longer Bullish On This Stock
Portfolio Pulse from Priya Nigam
KeyBanc Capital Markets' analyst Todd Thomas has downgraded National Storage Affiliates Trust (NSA) from Overweight to Sector Weight, while maintaining an Overweight rating on Extra Space Storage Inc (EXR) and raising its price target to $178. The self-storage REITs market is expected to stabilize, with EXR planning to collapse the Life Storage brand and potential acquisition activity ahead.
September 09, 2024 | 3:53 pm
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NEGATIVE IMPACT
Todd Thomas downgraded National Storage Affiliates Trust from Overweight to Sector Weight due to weaker demand environment, expecting its portfolio to lag behind peers.
The downgrade from Overweight to Sector Weight indicates a less favorable outlook for NSA, driven by a weaker demand environment. This suggests potential underperformance compared to peers, likely impacting short-term stock price negatively.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 90
POSITIVE IMPACT
Todd Thomas reiterated an Overweight rating on Extra Space Storage, raising the price target to $178. EXR plans to collapse the Life Storage brand, with potential acquisition activity ahead.
The reiteration of an Overweight rating and increased price target to $178 reflects a positive outlook for EXR. The strategic move to collapse the Life Storage brand and potential acquisitions could drive growth, positively impacting the stock price.
CONFIDENCE 95
IMPORTANCE 85
RELEVANCE 95