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Investing.com - Truist Securities lowered its price target on Extra Space Storage (NYSE:EXR) to $150.00 from $158.00 on Tuesday, while maintaining a Hold rating on the real estate investment trust. The stock, currently trading at $138.13, has a market capitalization of $30.5 billion and offers a 4.73% dividend yield. According to InvestingPro, the company has maintained dividend payments for 22 consecutive years.
The firm reduced its 2025 funds from operations (FFO) per share estimate to $8.18 from $8.22 and lowered its 2026 FFO estimate to $8.42 from $8.45.
Truist made these adjustments based on Extra Space Storage’s second quarter results, recent events, and revised revenue growth and expense assumptions.
The analyst firm continues to view Extra Space Storage as "one of the highest quality REITs, with an excellent track record and management team/platform."
Truist maintained its Hold rating on the stock, citing "relative fair valuation levels" for the self-storage REIT operator.
In other recent news, Extra Space Storage Inc. reported its second-quarter 2025 earnings results, which showed a mixed performance. The company exceeded earnings per share (EPS) expectations with a reported EPS of $1.18, slightly above the forecast of $1.15. However, revenue figures did not meet expectations, coming in at $841.62 million against the anticipated $844.76 million. In another significant development, Extra Space Storage announced the pricing of $800 million in 4.950% senior notes due January 15, 2033. The notes were priced at 99.739% of the principal amount, and the offering is expected to close around August 8, 2025, subject to customary conditions. These recent developments highlight the company’s ongoing financial strategies and performance metrics.
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