Wells Fargo has upgraded Extra Space Storage Inc (EXR) to Overweight from Equal-Weight, reflecting a more optimistic outlook on the company's future performance.
Headquartered in Salt Lake City, Utah, Extra Space Storage is a real estate investment trust that operates approximately 4,011 self-storage stores across 42 states and Washington, D.C. With a market capitalisation of $27.5 billion, the company reported a P/E ratio of 28.94 and an EPS of 4.45. The firm offers a range of storage solutions, including month-to-month rentals and tenant reinsurance for goods stored in its facilities.
The upgrade, effective from August 25, 2025, may suggest improved fundamentals or a stronger business performance than previously anticipated. As of the latest data, Extra Space Storage's shares are priced at $131.55.
Analyst ratings, such as this upgrade, provide insights based on research and financial models but should be considered alongside other factors, including company fundamentals and market conditions. The consensus among analysts currently stands at Hold, with 2 Strong Buy, 9 Buy, 13 Hold, 1 Sell, and no Strong Sell recommendations.
Upcoming earnings reports are scheduled for July 28, 2026, with an estimated EPS of $1.25 and revenue of $812.7 million. This follows a mixed earnings performance in 2025, where the company reported an EPS of $0.78 in Q3, significantly below the estimate of $1.21.
Such decisions reflect the evolving sentiment among analysts as they assess the company's strategic direction and market positioning.