In this article, we discuss the 5 stocks recently upgraded by analysts. If you want to read our detailed analysis of these companies, go directly to Analysts Just Upgraded These 10 Stocks.
5. Extra Space Storage Inc. (NYSE:EXR)
Number of Hedge Fund Holders: 29
Extra Space Storage Inc. (NYSE:EXR) is a real estate investment trust focused on self-storage facilities. It is the second-biggest provider of self-storage services in the U.S. Customers can store things like boats and RVs in the company’s secure storage units spread across the country.
Shares of Extra Space Storage Inc. (NYSE:EXR) rose nearly two percent on Wednesday, June 22, 2022, after JPMorgan upgraded the Utah-based company from “Neutral” to “Overweight,” citing optimism surrounding the self-storage sector.
JPMorgan analyst Michael Mueller expects Extra Space Storage Inc. (NYSE:EXR) to produce operating income growth in the mid-teens, which is significantly higher than the consensus for the real estate investment trust group.