AAL

Extra Space Storage Stock Wavers After Downgrade

The equity is still up 3% in the last week

Deputy Editor
Apr 8, 2020 at 10:13 AM
facebook X logo linkedin


Extra Space Storage Inc (NYSE:EXR) is down 0.6% to trade at $96.89 this morning, following a downgrade from Raymond James. Their analyst in coverage, Jonathan Hughes, cited that the "risk/reward skews negatively," and moved EXR to "underperform" from "market perform."

Since a three-year low of $72.70 on March 23, Extra Space Storage stock has been moving up on the charts -- and on Monday toppled resistance at the 30-day moving average for the first time since early March. The equity is up 3% in the last week, though still down 8.4% year-to-date. 

Raymond James' downgrade reflects the overall analyst sentiment. Coming into today, six out of 10 analysts sported a lukewarm "hold," with three considering a "strong buy" and one at "strong sell." Meanwhile, the 12-month consensus price target of $104.3 is a slim 7% premium to current levels. 

Short interest has started falling off, down 9.7% in the last reporting period. The 5.71 million shares sold short still accounts for 4.5% of the stock's available float, and would take six days to cover at EXR's average pace of trading. This indicates bears remain firmly in control of the equity.

 

 

Two High-Octane Trade Ideas. One Simple Goal: Intraday Profits.

Dynamite Day Trading Signals delivers two same-day options trades every week — powered by proprietary intraday analysis and 43+ years of trading expertise.

But this isn’t just another stream of alerts.

It’s a structured plan with clear entry and exit points – designed for traders who want to act fast, trade smart, and wrap up gains before the closing bell.

No guesswork. No overnight exposure – Just two well-researched setups per week — whether you prefer buying premium or selling it.

And the results speak for themselves: subscribers have locked in +245.8% total profit over the last six months (since inception!).

👉 Start your one-month trial now for just $10, and be ready for the next trade alert.