Extra Space Storage (NYSE:EXR) Downgraded by Scotiabank but Still Holds Growth Potential

Scotiabank downgraded Extra Space Storage (NYSE:EXR) to "Sector Perform" from "Outperform" with a current stock price of $133.88.Despite the downgrade, EXR is rated as a "Buy" with a price target of $145, indicating potential for growth supported by a strong balance sheet and a 5% dividend yield.The company is well-positioned for consolidation opportunities in the self-storage industry, with supply growth expected to drop below 2% in 2026, potentially stabilizing occupancy rates and leading to rent growth.E ...