Extra Space Storage reiterated at Overweight, NSA downgraded at KeyBanc

seekingalpha09-09

KeyBanc Capital Markets reiterated its Overweight rating on Extra Space Storage (NYSE:EXR) in a recent note as analyst Todd Thomas sees potential for the REIT to generate premium growth over the ...

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The company continues to extract value and realize operating synergies from its $12.4B acquisition of Life Storage completed in July 2023, he wrote in a note to clients. Going forward, he added, \"we expect EXR’s revenue management platform, third-party management business, and external growth strategies  to provide additional support.\" On the other side of the fence, Thomas downgraded National Storage Affiliates Trust  to Sector Weight from Overweight on the expectation that the company's portfolio will keep lagging vs. peers against a backdrop of a weaker-than-expected demand environment. \"The challenging operating environment is likely to pressure occupancy and NOI growth for a more extended period of time than previously anticipated,\" the analyst wrote, expressing cautio","collect":0,"end_time":0,"defaultTopTitle":"seekingalpha.com","property":["rate"],"viewcount":null,"language":"en","relate_stocks":{"NSA":"National Storage Affiliates Trust","EXR":"Extra Space Storage Inc"},"translate_title":"跑赢大盘重申额外空间存储，NSA下调KeyBanc评级","themeId":null,"isJumpTheme":false,"ttsUrl":null,"symbols_score_info":{"EXR":1,"NSA":1},"content_text":"KeyBanc Capital Markets reiterated its Overweight rating on Extra Space Storage (NYSE:EXR) in a recent note as analyst Todd Thomas sees potential for the REIT to generate premium growth over the medium-term relative to peers. The company continues to extract value and realize operating synergies from its $12.4B acquisition of Life Storage completed in July 2023, he wrote in a note to clients. Going forward, he added, \"we expect EXR’s revenue management platform, third-party management business, and external growth strategies (including its structured finance book) to provide additional support.\" On the other side of the fence, Thomas downgraded National Storage Affiliates Trust (NYSE:NSA) to Sector Weight from Overweight on the expectation that the company's portfolio will keep lagging vs. peers against a backdrop of a weaker-than-expected demand environment. \"The challenging operating environment is likely to pressure occupancy and NOI growth for a more extended period of time than previously anticipated,\" the analyst wrote, expressing caution about fundamentals over the near-term. In Monday morning trading, (EXR) gained 1.2%, while (NSA) was little changed. Seeking Alpha's Quant system gives (EXR) the highest rating among publicly traded self-storage REITs, followed by CubeSmart (CUBE), $Public Storage(PSA-N)$ (PSA) and National Storage Affiliates (NSA).","kind":null,"is_publish_news":true,"is_publish_highlight":false,"is_publish_live":false,"is_publish_wemedia":null,"editions":null,"column":"","sentiment":"0","news_tag":"","news_rank":0,"symbols":[],"gpt_button":1},"commentList":[],"isCommentEnd":true,"newsSizeData":{"likeSize":0,"commentSize":0,"repostSize":0,"favoriteSize":0,"likeStatus":false,"favoriteStatus":false},"APP":{"userAgent":"Mozilla/5.0 AppleWebKit/537.36 (KHTML, like Gecko; compatible; ClaudeBot/1.0; +claudebot@anthropic.com)","isDev":false,"isTTM":true,"deviceId":"web-server-community-laohu8-v3","version":"4.28.3","shortVersion":"4.28.3","platform":"web","vendor":"web","appName":"ttm","isIOS":false,"isAndroid":false,"isTiger":false,"isTHS":false,"isWeiXin":false,"isWeiXinMini":false,"isWeiBo":false,"isQQ":false,"isBaiduSwan":false,"isBaiduBox":false,"isDingTalk":false,"isToutiao":false,"isOnePlus":false,"isHuaWei":false,"isXiaomi":false,"isXiaomiWebView":false,"isOppo":false,"isVivo":false,"isSamsung":false,"isMobile":false},"href":"/m/news/2466719771"}