Extra Space Storage (NYSE:EXR) PT Raised to $158.00 at Barclays

Extra Space Storage (NYSE:EXRGet Free Report) had its target price boosted by equities research analysts at Barclays from $157.00 to $158.00 in a research report issued to clients and investors on Monday, Benzinga reports. The firm currently has an “overweight” rating on the real estate investment trust’s stock. Barclays‘s price objective indicates a potential upside of 8.16% from the company’s previous close.

A number of other equities research analysts have also issued reports on the stock. Deutsche Bank Aktiengesellschaft initiated coverage on shares of Extra Space Storage in a report on Tuesday, January 30th. They set a “hold” rating and a $141.00 target price for the company. Wells Fargo & Company boosted their price target on shares of Extra Space Storage from $150.00 to $160.00 and gave the company an “overweight” rating in a research report on Friday, April 5th. Evercore ISI lowered their price target on shares of Extra Space Storage from $145.00 to $139.00 in a research report on Wednesday, May 1st. Scotiabank initiated coverage on shares of Extra Space Storage in a research report on Tuesday, February 13th. They issued a “sector underperform” rating and a $131.00 target price on the stock. Finally, StockNews.com cut shares of Extra Space Storage from a “hold” rating to a “sell” rating in a research report on Saturday, March 2nd. Two analysts have rated the stock with a sell rating, six have assigned a hold rating and five have given a buy rating to the company. According to MarketBeat.com, Extra Space Storage has a consensus rating of “Hold” and a consensus target price of $149.75.

Read Our Latest Report on Extra Space Storage

Extra Space Storage Stock Down 2.8 %

NYSE:EXR opened at $146.08 on Monday. The company’s 50-day simple moving average is $142.25 and its 200-day simple moving average is $142.49. The stock has a market capitalization of $30.93 billion, a P/E ratio of 32.53, a P/E/G ratio of 3.73 and a beta of 0.76. The company has a debt-to-equity ratio of 0.73, a quick ratio of 0.15 and a current ratio of 0.15. Extra Space Storage has a fifty-two week low of $101.19 and a fifty-two week high of $164.99.

Extra Space Storage (NYSE:EXRGet Free Report) last announced its quarterly earnings data on Tuesday, February 27th. The real estate investment trust reported $1.02 EPS for the quarter, missing the consensus estimate of $2.03 by ($1.01). The business had revenue of $797.77 million for the quarter, compared to analyst estimates of $778.05 million. Extra Space Storage had a net margin of 29.10% and a return on equity of 6.76%. The business’s revenue was up 57.4% on a year-over-year basis. During the same quarter in the previous year, the firm posted $2.09 earnings per share. On average, equities analysts anticipate that Extra Space Storage will post 8.05 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, EVP Gwyn Goodson Mcneal sold 1,350 shares of the company’s stock in a transaction that occurred on Thursday, March 7th. The shares were sold at an average price of $145.00, for a total transaction of $195,750.00. Following the sale, the executive vice president now directly owns 37,028 shares in the company, valued at $5,369,060. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In other Extra Space Storage news, CMO Samrat Sondhi sold 2,048 shares of the stock in a transaction that occurred on Monday, March 4th. The shares were sold at an average price of $146.46, for a total value of $299,950.08. Following the transaction, the chief marketing officer now directly owns 94,126 shares in the company, valued at $13,785,693.96. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Gwyn Goodson Mcneal sold 1,350 shares of the stock in a transaction that occurred on Thursday, March 7th. The shares were sold at an average price of $145.00, for a total transaction of $195,750.00. Following the completion of the transaction, the executive vice president now owns 37,028 shares in the company, valued at $5,369,060. The disclosure for this sale can be found here. Insiders have sold 3,532 shares of company stock worth $514,819 over the last three months. Company insiders own 1.36% of the company’s stock.

Hedge Funds Weigh In On Extra Space Storage

Several hedge funds have recently added to or reduced their stakes in the stock. Atria Investments Inc increased its stake in Extra Space Storage by 11.3% in the first quarter. Atria Investments Inc now owns 8,081 shares of the real estate investment trust’s stock valued at $1,188,000 after purchasing an additional 818 shares during the last quarter. Swedbank AB purchased a new position in Extra Space Storage in the first quarter valued at approximately $33,912,000. Virtu Financial LLC acquired a new stake in shares of Extra Space Storage in the first quarter valued at approximately $1,305,000. Plato Investment Management Ltd boosted its holdings in shares of Extra Space Storage by 110.3% in the first quarter. Plato Investment Management Ltd now owns 1,182 shares of the real estate investment trust’s stock valued at $174,000 after acquiring an additional 620 shares during the period. Finally, Beacon Capital Management LLC boosted its holdings in shares of Extra Space Storage by 69.3% in the first quarter. Beacon Capital Management LLC now owns 828 shares of the real estate investment trust’s stock valued at $122,000 after acquiring an additional 339 shares during the period. 99.11% of the stock is currently owned by hedge funds and other institutional investors.

Extra Space Storage Company Profile

(Get Free Report)

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.

See Also

Analyst Recommendations for Extra Space Storage (NYSE:EXR)

Receive News & Ratings for Extra Space Storage Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Extra Space Storage and related companies with MarketBeat.com's FREE daily email newsletter.