UBS Reaffirms Buy on Extra Space Storage (EXR) After PT Increase

Extra Space Storage Inc. (NYSE:EXR) is included among the 10 Best June Dividend Stocks to Buy.

UBS Reaffirms Buy on Extra Space Storage (EXR) After PT Increase

On May 18, UBS analyst Michael Goldsmith raised the firm’s price recommendation on Extra Space Storage Inc. (NYSE:EXR) to $158 from $148. He reiterated a Buy rating on the shares.

During the company’s Q1 2026 earnings call, CEO and Director Joseph Margolis said core FFO reached $2.04 per share, up 2% from the prior year. He added that same-store revenue growth came in at 1.7%, ahead of the company’s internal expectations, while same-store occupancy ended the quarter at 93%.

Margolis said the company was seeing broad-based improvement in revenue trends across its markets, helped mainly by lower levels of new supply. He also noted that sequential gains in new customer rates over the past several quarters were beginning to support revenue growth.

Looking ahead, Margolis said the company expects total acquisitions in 2026 to reach around $200 million. He said the outlook reflects expectations for a materially higher number of transactions, mainly through asset-light joint venture structures.

He also stated that the company’s bridge loan program continued to perform well, maintaining an average balance of about $1.5 billion during the first quarter. In addition, the third-party management platform added 84 stores during the quarter, resulting in net growth of 60 stores.

Extra Space Storage Inc. (NYSE:EXR) is a self-administered and self-managed real estate investment trust. The company owns, operates, manages, lends to, acquires, develops, and redevelops self-storage properties.

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