Analysts Set Extra Space Storage Inc. (NYSE:EXR) Price Target at $171.07

Shares of Extra Space Storage Inc. (NYSE:EXR) have earned a consensus rating of “Hold” from the fifteen research firms that are covering the stock, MarketBeat reports. Two analysts have rated the stock with a sell rating, seven have given a hold rating and six have issued a buy rating on the company. The average 12-month price objective among brokers that have updated their coverage on the stock in the last year is $171.07.

Several analysts recently weighed in on the company. Bank of America lowered Extra Space Storage from a “neutral” rating to an “underperform” rating and lowered their price objective for the company from $172.00 to $155.00 in a report on Monday, August 5th. KeyCorp upped their price target on Extra Space Storage from $172.00 to $178.00 and gave the company an “overweight” rating in a research report on Monday, September 9th. Barclays lifted their price objective on shares of Extra Space Storage from $188.00 to $192.00 and gave the stock an “overweight” rating in a report on Monday, October 28th. Truist Financial increased their target price on shares of Extra Space Storage from $152.00 to $167.00 and gave the stock a “hold” rating in a report on Friday, August 16th. Finally, Royal Bank of Canada started coverage on shares of Extra Space Storage in a report on Tuesday, September 10th. They issued a “sector perform” rating and a $180.00 price target for the company.

Insider Buying and Selling at Extra Space Storage

In other Extra Space Storage news, EVP Gwyn Goodson Mcneal sold 2,823 shares of the business’s 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 owns 32,855 shares in the company, valued at approximately $5,815,663.55. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. In other news, EVP Gwyn Goodson Mcneal sold 2,823 shares of the company’s stock in a transaction that occurred on Friday, August 23rd. The shares were sold at an average price of $177.01, for a total value of $499,699.23. Following the completion of the sale, the executive vice president now directly owns 32,855 shares of the company’s stock, valued at approximately $5,815,663.55. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO Joseph D. Margolis sold 7,500 shares of the 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 transaction, the chief executive officer now owns 24,190 shares of the company’s stock, valued at $4,318,398.80. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 18,970 shares of company stock valued at $3,367,307 in the last quarter. Corporate insiders own 1.36% of the company’s stock.

Hedge Funds Weigh In On Extra Space Storage

Several hedge funds have recently modified their holdings of the company. EdgeRock Capital LLC bought a new position in Extra Space Storage during the second quarter valued at about $25,000. Centerpoint Advisors LLC acquired a new stake in Extra Space Storage in the 2nd quarter valued at about $27,000. Ashton Thomas Securities LLC bought a new position in shares of Extra Space Storage during the 3rd quarter valued at about $33,000. Blue Trust Inc. grew its stake in shares of Extra Space Storage by 540.5% in the 2nd quarter. Blue Trust Inc. now owns 237 shares of the real estate investment trust’s stock worth $35,000 after purchasing an additional 200 shares during the last quarter. Finally, Whittier Trust Co. of Nevada Inc. raised its holdings in shares of Extra Space Storage by 2,760.0% in the 2nd quarter. Whittier Trust Co. of Nevada Inc. now owns 286 shares of the real estate investment trust’s stock worth $44,000 after purchasing an additional 276 shares in the last quarter. 99.11% of the stock is currently owned by institutional investors and hedge funds.

Extra Space Storage Stock Down 4.5 %

EXR stock opened at $161.03 on Thursday. The company has a current ratio of 0.23, a quick ratio of 0.20 and a debt-to-equity ratio of 0.77. The firm has a 50 day simple moving average of $173.03 and a 200-day simple moving average of $161.17. The company has a market capitalization of $34.13 billion, a P/E ratio of 42.15, a PEG ratio of 6.06 and a beta of 0.87. Extra Space Storage has a twelve month low of $104.88 and a twelve month high of $184.87.

Extra Space Storage (NYSE:EXR) last announced its quarterly earnings data on Tuesday, October 29th. The real estate investment trust reported $0.91 earnings per share for the quarter, missing the consensus estimate of $2.03 by ($1.12). The company had revenue of $824.80 million for the quarter, compared to analyst estimates of $826.93 million. Extra Space Storage had a return on equity of 5.51% and a net margin of 25.35%. Extra Space Storage’s revenue was up 10.2% on a year-over-year basis. During the same period in the prior year, the business earned $2.02 earnings per share. On average, equities research analysts predict that Extra Space Storage will post 8.08 earnings per share for the current fiscal year.

Extra Space Storage Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, September 30th. Investors of record on Monday, September 16th were issued a $1.62 dividend. This represents a $6.48 dividend on an annualized basis and a yield of 4.02%. The ex-dividend date was Monday, September 16th. Extra Space Storage’s dividend payout ratio (DPR) is 169.63%.

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.