NEW YORK (TheStreet) -- Shares of Extra Space Storage (EXR) are rising, up 0.17% to $65.52 after BMO Capital raised its 2015 earnings estimates to $2.96 from $2.95, with 2016 earnings estimates increased to $3.31 from $3.12.
Extra Space Storage is a fully integrated, self-administered and self-managed real estate investment trust (REIT) that owns, operates, manages, acquires, develops and redevelops professionally managed self-storage properties and stores.
The firm maintained its "market perform" rating with a price target of $70 on the stock.
"Extra Space Storage should be able to boost the yield relatively quickly by integrating the properties into its technology-driven platform and boost internet search presence," BMO Capital analysts said.
Another positive for the transaction is that Extra Space Storage has a better cost of capital than most potential buyers, which improves the accretion potential, BMO Capital added.
Extra Space Storage is expected to announce its second quarter earnings results on July 29 after the market closes.
Separately, TheStreet Ratings team rates EXTRA SPACE STORAGE INC as a Buy with a ratings score of B. TheStreet Ratings Team has this to say about their recommendation:
"We rate EXTRA SPACE STORAGE INC (EXR) a BUY. This is driven by multiple strengths, which we believe should have a greater impact than any weaknesses, and should give investors a better performance opportunity than most stocks we cover. The company's strengths can be seen in multiple areas, such as its revenue growth, solid stock price performance, growth in earnings per share, increase in net income and expanding profit margins. Although the company may harbor some minor weaknesses, we feel they are unlikely to have a significant impact on results."