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Fly News Breaks for November 13, 2015
EXR
Nov 13, 2015 | 08:02 EDT
As previously reported, Raymond James upgraded Extra Space Storage to Strong Buy from Outperform and raised its price target to $90 from $80 on shares. Analyst Jonathan Hughes expects the $1.3B SmartStop portfolio to result in robust NOI and earnings growth in the coming years. Hughes believes significant rent and occupancy increases are attainable once SmartStop is incorporated into Extra Space's operating platform and that NOI growth in the double-digits over the next several years is more the likely.
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