Extra Space Storage downgraded to Neutral from Buy at Citi » 06:2509/2109/21/20
Citi analyst Smedes Rose…
Citi analyst Smedes Rose downgraded Extra Space Storage to Neutral from Buy with a price target of $112, up from $105. The analyst cites valuation for the downgrade but continues to believe that Self-Storage will perform well in an uncertain macro environment.
|Over a week ago|
Fly Intel: Top five analyst upgrades » 10:1609/0109/01/20
ZM, BLMN, QCOM, ZEN, EXR
Catch up on today's…
Catch up on today's top five analyst upgrades with this list compiled by The Fly: 1. Zoom Video (ZM) was upgraded to Neutral from Sell at Goldman Sachs and to Buy from Neutral at BTIG. 2. Bloomin' Brands (BLMN) was upgraded to Strong Buy from Outperform at Raymond James and to Buy from Hold at Deutsche Bank. 3. Qualcomm (QCOM) upgraded to Equal Weight from Underweight at Wells Fargo with analyst Gary Mobley citing higher peer group valuation metrics as well as various possible outcomes to the Huawei situation for the upgrade. 4. Zendesk (ZEN) upgraded to Overweight from Neutral at Piper Sandler with analyst Brent Bracelin saying "several underappreciated levers" could spark a demand recovery into 2021 for Zendesk. 5. Extra Space Storage (EXR) upgraded to Sector Weight from Underweight at KeyBanc with analyst Todd Thomas saying the downside he had anticipated in our April 16 downgrade does not appear to be materializing, and current conditions may lead to improving internal and external growth opportunities. This list is just a portion of The Fly's full analyst coverage. To see The Fly's full Street Research coverage, click here.
Extra Space Storage upgraded to Sector Weight at KeyBanc » 07:0909/0109/01/20
As previously reported,…
As previously reported, KeyBanc analyst Todd Thomas upgraded Extra Space Storage to Sector Weight from Underweight. The analyst notes that the downside he had anticipated in our April 16 downgrade does not appear to be materializing, and current conditions may lead to improving internal and external growth opportunities.
Extra Space Storage upgraded to Sector Weight from Underweight at KeyBanc » 05:2809/0109/01/20
KeyBanc analyst Todd…
KeyBanc analyst Todd Thomas upgraded Extra Space Storage to Sector Weight from Underweight without a price target.
|Over a month ago|
Extra Space Storage Chairman Kenneth Woolley sells over $10M in shares » 16:5508/1808/18/20
Extra Space Storage…
Extra Space Storage Chairman Kenneth Woolley disclosed in a filing that he had sold 97,163 shares of company stock at $104.28 per share on June 5. The total transaction value of the sale was $10,132,265
Extra Space Storage is not providing FY20 guidance » 16:3408/0408/04/20
On May 6 the Company…
On May 6 the Company withdrew its previously provided FFO estimates and annual assumptions for the year ending December 31, 2020 due to the impact of COVID-19. The Company may reinstate guidance once greater visibility is available related to restrictions, customer behavior and general economic conditions related to COVID-19.
Extra Space Storage reports Q2 core FFO $1.23, consensus $1.16 » 16:3308/0408/04/20
Reports Q2 revenue…
Reports Q2 revenue $327.25M, consensus $285.54M. Reports decreases in same-store revenue of (3.1%) and same-store NOI of (4.6%) compared to the same period in 2019. Joe Margolis, CEO, commented: "Despite the impact from COVID-19, we delivered positive year-over-year FFO growth in the quarter. We are pleased with the returning demand we have seen in our need-based sector and our customer acquisition platform's ability to convert that demand into rentals. While we are encouraged by improving leasing activity and occupancy, we recognize the remaining headwinds and uncertainty in 2020 due to new supply, negative rental rates to new customers, restrictions on auctions and existing customer rent increases, the course of the COVID-19 virus and general macro-economic conditions. As a result, we have chosen to not provide 2020 guidance at this time."
|Over a quarter ago|
Extra Space Storage initiated with a Buy at Goldman Sachs » 05:0206/2606/26/20
Goldman Sachs analyst…
Goldman Sachs analyst Richard Skidmore initiated coverage of Extra Space Storage with a Buy rating and $111 price target. The analyst likes Extra Space's "above average forecasted" funds from operations growth, "solid" balance sheet, and track record of dividend growth and valuation. He views the company's dividend as "well covered" and sees 23% upside in the shares.
Extra Space Storage upgraded to In Line from Underperform at Evercore ISI » 06:1606/1506/15/20
Evercore ISI analyst…
Evercore ISI analyst Steve Sakwa upgraded Extra Space Storage to In Line from Underperform.
Extra Space Storage withdraws 2020 guidance 16:5705/0605/06/20