Extra Space Storage Inc. (NYSE:EXR) Receives Consensus Rating of “Hold” from Analysts

Extra Space Storage Inc. (NYSE:EXR) has been assigned an average rating of “Hold” from the fourteen research firms that are presently covering the company, MarketBeat.com reports. Two analysts have rated the stock with a sell rating, six have issued a hold rating and six have given a buy rating to the company. The average 1 year price target among brokerages that have updated their coverage on the stock in the last year is $168.57.

EXR has been the topic of several recent analyst reports. KeyCorp lifted their price target on Extra Space Storage from $172.00 to $178.00 and gave the stock an “overweight” rating in a research report on Monday, September 9th. StockNews.com raised shares of Extra Space Storage from a “sell” rating to a “hold” rating in a research report on Tuesday, July 23rd. Evercore ISI increased their price target on shares of Extra Space Storage from $167.00 to $170.00 and gave the company an “in-line” rating in a report on Monday. Royal Bank of Canada began coverage on shares of Extra Space Storage in a report on Tuesday, September 10th. They set a “sector perform” rating and a $180.00 price objective on the stock. Finally, Scotiabank increased their target price on shares of Extra Space Storage from $159.00 to $169.00 and gave the company a “sector underperform” rating in a research note on Thursday, August 22nd.

Extra Space Storage Trading Up 0.8 %

Extra Space Storage stock opened at $179.02 on Wednesday. The business’s 50-day simple moving average is $168.68 and its 200-day simple moving average is $154.08. Extra Space Storage has a 52 week low of $101.19 and a 52 week high of $179.42. The firm has a market capitalization of $37.90 billion, a PE ratio of 39.87, a PEG ratio of 2.56 and a beta of 0.86. The company has a debt-to-equity ratio of 0.76, a quick ratio of 0.20 and a current ratio of 0.20.

Extra Space Storage Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, September 30th. Investors of record on Monday, September 16th will be given a dividend of $1.62 per share. The ex-dividend date of this dividend is Monday, September 16th. This represents a $6.48 annualized dividend and a dividend yield of 3.62%. Extra Space Storage’s dividend payout ratio (DPR) is presently 144.32%.

Insider Activity at Extra Space Storage

In other Extra Space Storage news, EVP Gwyn Goodson Mcneal sold 2,823 shares of the stock in a transaction on Friday, August 23rd. The stock was sold at an average price of $177.01, for a total transaction of $499,699.23. Following the completion of the transaction, the executive vice president now directly owns 32,855 shares in the company, valued at $5,815,663.55. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other Extra Space Storage news, EVP Gwyn Goodson Mcneal sold 2,823 shares of the company’s stock in a transaction dated Friday, August 23rd. The shares were sold at an average price of $177.01, for a total transaction of $499,699.23. Following the sale, the executive vice president now directly owns 32,855 shares of the company’s stock, valued at $5,815,663.55. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, CEO Joseph D. Margolis sold 7,500 shares of Extra Space Storage stock in a transaction that occurred on Monday, July 1st. The shares were sold at an average price of $152.58, for a total transaction of $1,144,350.00. Following the completion of the transaction, the chief executive officer now owns 31,690 shares of the company’s stock, valued at approximately $4,835,260.20. The disclosure for this sale can be found here. Insiders have sold a total of 18,970 shares of company stock valued at $3,172,757 in the last 90 days. 1.36% of the stock is owned by corporate insiders.

Institutional Trading of Extra Space Storage

Several large investors have recently made changes to their positions in the business. GSA Capital Partners LLP acquired a new position in Extra Space Storage during the 4th quarter worth $3,304,000. State of Tennessee Treasury Department increased its position in Extra Space Storage by 252.1% in the fourth quarter. State of Tennessee Treasury Department now owns 114,819 shares of the real estate investment trust’s stock worth $18,409,000 after purchasing an additional 82,207 shares during the period. Mitsubishi UFJ Trust & Banking Corp raised its holdings in Extra Space Storage by 19.3% during the 1st quarter. Mitsubishi UFJ Trust & Banking Corp now owns 247,203 shares of the real estate investment trust’s stock worth $36,307,000 after purchasing an additional 40,055 shares during the last quarter. Norden Group LLC acquired a new position in Extra Space Storage during the 1st quarter valued at about $1,947,000. Finally, Gateway Investment Advisers LLC acquired a new position in Extra Space Storage during the 2nd quarter valued at about $16,026,000. Institutional investors own 99.11% of the company’s stock.

Extra Space Storage Company Profile

Extra Space Storage Inc, headquartered in Salt Lake City, Utah, is a self-administered and self-managed REIT and a member of the S&P 500. As of December 31, 2023, the Company owned and/or operated 3,714 self-storage stores in 42 states and Washington, DC The Company's stores comprise approximately 2.6 million units and approximately 283.0 million square feet of rentable space operating under the Extra Space, Life Storage and Storage Express brands.