Jefferies raises PTs of storage REITs on acquisitions

Extra Space Storage

08/05/2024 11:31

** Jefferies raises PT on shares of Extra Space Storage
 EXR.N  to $152 from $151 and Public Storage  PSA.N  to $322
from $321
    ** Brokerage says EXR is particularly well set up over next
quarter, given strong move-in volume and street rates
    ** "We are positive on acquisition of the Life Storage
portfolio" - Jefferies
    ** Brokerage says PSA's recent acquisitions should
meaningfully contribute to earnings growth
    ** As of Tuesday's close, EXR shares down ~11% and PSA had
fallen ~10% YTD

 (Reporting by Kannaki Deka)
 ((Kannaki.Deka@thomsonreuters.com))