Extra Space Storage Inc ($EXR) Stock Forecast: Up 6.3% Today

What is Extra Space Storage Inc?

Extra Space Storage (NYSE: EXR) is a real estate investment trust that owns, operates, and manages self-storage properties in the United States. The company provides storage spaces for residential and commercial customers.

Why is Extra Space Storage Inc going up?

EXR stock is up 6.3% on Jun 12, 2024 13:56

• Analysts have expressed varied viewpoints on Extra Space Storage, with some showing optimism about the stock.
• This optimistic outlook from analysts might have influenced the significant upward movement in EXR's stock price today.
• Investors seem to be responding favorably to the company's growth opportunities and performance outlook, leading to the upward trend in the stock.

EXR Price Chart

EXR Technical Analysis

EXR News

5 Analysts Have This To Say About Extra Space Storage

5 analysts have expressed a variety of opinions on Extra Space Storage ( NYSE:EXR ) over the past quarter, offering a diverse set of opinions from bullish to bearish. The following table provides a quick overview of their recent ratings, highlighting the changing sentiments over the past 30 ...

https://markets.businessinsider.com/news/stocks/5-analysts-have-this-to-say-about-extra-space-storage-1033462368

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Extra Space Storage Inc Price History

14.10.2023 - EXR Stock was up 6.8%

• The bullish movement in the stock of Extra Space Storage (EXR) today could be attributed to several factors:
• 1. Positive growth prospects: The article mentioning the stock's growth potential for the upcoming year could have sparked investor optimism and led to increased buying activity.
• 2. Downgrade reversal: The downgrade of EXR to a "sell" rating in an article from Stocknews.com might have initially caused a dip in the stock price. However, investors may have reevaluated the stock and found value in it, leading to a subsequent upward movement.
• 3. Strong historical performance: The article highlighting EXR's outperformance of the market over the past 10 years could have attracted investors seeking long-term returns, contributing to the bullish movement.
• 4. Earnings call transcript: Although not explicitly mentioned in the provided excerpt, the Q3 2023 earnings call transcript could have contained positive news or outlook for the company, influencing investor sentiment and driving the stock price higher.

12.05.2024 - EXR Stock was up 6.3%

• Analysts have expressed varied viewpoints on Extra Space Storage, with some showing optimism about the stock.
• This optimistic outlook from analysts might have influenced the significant upward movement in EXR's stock price today.
• Investors seem to be responding favorably to the company's growth opportunities and performance outlook, leading to the upward trend in the stock.

14.02.2024 - EXR Stock was down 5.1%

• Concerns about reduced new customer rates potentially affecting revenue growth could be driving the bearish movement in EXR stock.
• The company's borrowing costs may have been negatively influenced by high interest rates, contributing to the current downward trend.
• Despite its positive qualities, investors seem to be exercising caution in the face of uncertain economic conditions, leading to a sell-off in EXR shares.

04.07.2023 - EXR Stock was down 6.2%

• The bearish movement in EXR today can be attributed to the following factors:
• 1. Missed Q2 FFO and Revenue Estimates: The company reported lower-than-expected FFO and revenue for the second quarter, indicating potential challenges in its financial performance.
• 2. Declining Q2 Profit: Extra Space Storage's net income for the second quarter was down compared to the previous year, suggesting a potential decrease in profitability.
• 3. Pricing Pressure and Vacating Volumes: Anticipated rise in vacating volumes leading to pricing pressure might have impacted the company's performance, contributing to the bearish market movement.
• 4. Long-Term Performance: Despite the bearish movement today, Extra Space Storage has shown strong long-term performance, outperforming the market over the past 15 years. However, this may not have been enough to offset the negative sentiment surrounding its recent financial results.
• Overall, the bearish movement in EXR today can be attributed to the company's missed estimates, declining profit, pricing pressure, and potential challenges in its financial performance.