Extra Space Storage (NYSE:EXR) Price Target Increased to $192.00 by Analysts at Barclays

Extra Space Storage (NYSE:EXR) had its price target raised by analysts at Barclays from $188.00 to $192.00 in a research note issued on Monday, Benzinga reports. The brokerage currently has an “overweight” rating on the real estate investment trust’s stock. Barclays‘s target price indicates a potential upside of 13.64% from the company’s current price.

A number of other brokerages have also weighed in on EXR. Wells Fargo & Company restated an “equal weight” rating and set a $175.00 price objective on shares of Extra Space Storage in a research report on Monday, October 21st. Royal Bank of Canada assumed 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 for the company. Jefferies Financial Group raised shares of Extra Space Storage from a “hold” rating to a “buy” rating and lifted their target price for the stock from $162.00 to $204.00 in a research note on Wednesday, September 18th. Bank of America cut shares of Extra Space Storage from a “neutral” rating to an “underperform” rating and reduced their price target for the company from $172.00 to $155.00 in a research report on Monday, August 5th. Finally, Raymond James upped their price target on shares of Extra Space Storage from $160.00 to $175.00 and gave the stock an “outperform” rating in a research note on Tuesday, July 23rd. Two research analysts have rated the stock with a sell rating, eight have assigned a hold rating and six have issued a buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $171.07.

Extra Space Storage Stock Up 1.5 %

NYSE EXR traded up $2.56 during trading on Monday, hitting $168.96. The stock had a trading volume of 12,047 shares, compared to its average volume of 1,032,507. The company has a market capitalization of $35.77 billion, a PE ratio of 37.63, a P/E/G ratio of 6.25 and a beta of 0.86. The company’s 50-day moving average price is $174.56 and its two-hundred day moving average price is $159.68. 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 has a 12 month low of $101.19 and a 12 month high of $184.87.

Insider Activity

In other Extra Space Storage news, EVP William N. Springer sold 2,000 shares of the business’s stock in a transaction dated Wednesday, August 28th. The stock was sold at an average price of $175.33, for a total value of $350,660.00. Following the transaction, the executive vice president now owns 11,919 shares in the company, valued at $2,089,758.27. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. In related news, CEO Joseph D. Margolis sold 7,500 shares of the business’s stock in a transaction that occurred on Tuesday, October 1st. The shares were sold at an average price of $178.52, for a total transaction of $1,338,900.00. Following the completion of the sale, the chief executive officer now directly owns 24,190 shares of the company’s stock, valued at $4,318,398.80. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, EVP William N. Springer sold 2,000 shares of Extra Space Storage stock in a transaction on Wednesday, August 28th. The stock was sold at an average price of $175.33, for a total transaction of $350,660.00. Following the transaction, the executive vice president now directly owns 11,919 shares in the company, valued at approximately $2,089,758.27. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 18,970 shares of company stock worth $3,367,307. Insiders own 1.36% of the company’s stock.

Institutional Trading of Extra Space Storage

A number of hedge funds and other institutional investors have recently made changes to their positions in EXR. Hummer Financial Advisory Services Inc boosted its holdings in shares of Extra Space Storage by 1.2% during the third quarter. Hummer Financial Advisory Services Inc now owns 5,920 shares of the real estate investment trust’s stock worth $1,067,000 after acquiring an additional 70 shares during the period. Buckley Wealth Management LLC raised its position in shares of Extra Space Storage by 1.9% during the third quarter. Buckley Wealth Management LLC now owns 3,811 shares of the real estate investment trust’s stock worth $687,000 after acquiring an additional 71 shares during the last quarter. Massmutual Trust Co. FSB ADV lifted its position in shares of Extra Space Storage by 19.7% in the 2nd quarter. Massmutual Trust Co. FSB ADV now owns 461 shares of the real estate investment trust’s stock worth $72,000 after purchasing an additional 76 shares during the period. Bleakley Financial Group LLC raised its position in shares of Extra Space Storage by 4.1% in the 3rd quarter. Bleakley Financial Group LLC now owns 1,973 shares of the real estate investment trust’s stock worth $356,000 after acquiring an additional 77 shares in the last quarter. Finally, QRG Capital Management Inc. boosted its stake in Extra Space Storage by 5.2% during the first quarter. QRG Capital Management Inc. now owns 1,588 shares of the real estate investment trust’s stock worth $233,000 after acquiring an additional 78 shares in the last quarter. 99.11% of the stock is currently owned by institutional investors and hedge funds.

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.