Extra Space Storage Inc. (NYSE:EXR) Receives $171.50 Average PT from Brokerages

Shares of Extra Space Storage Inc. (NYSE:EXR) have received an average rating of “Hold” from the fourteen research firms that are presently covering the company, MarketBeat reports. Two investment analysts have rated the stock with a sell rating, seven have issued a hold rating and five have issued a buy rating on the company. The average 12 month price target among analysts that have issued ratings on the stock in the last year is $171.36.

Several analysts have issued reports on the stock. StockNews.com downgraded shares of Extra Space Storage from a “hold” rating to a “sell” rating in a research note on Thursday, October 31st. Scotiabank lowered their price target on shares of Extra Space Storage from $169.00 to $167.00 and set a “sector underperform” rating on the stock in a report on Monday, November 25th. KeyCorp boosted their price target on shares of Extra Space Storage from $172.00 to $178.00 and gave the company an “overweight” rating in a report on Monday, September 9th. Barclays boosted their price target on shares of Extra Space Storage from $188.00 to $192.00 and gave the company an “overweight” rating in a report on Monday, October 28th. Finally, Truist Financial boosted their price target on shares of Extra Space Storage from $152.00 to $167.00 and gave the company a “hold” rating in a report on Friday, August 16th.

Insider Buying and Selling at Extra Space Storage

In other Extra Space Storage news, Director Kenneth M. Woolley sold 6,647 shares of the company’s stock in a transaction dated Friday, September 13th. The shares were sold at an average price of $177.23, for a total transaction of $1,178,047.81. Following the completion of the sale, the director now directly owns 404,306 shares in the company, valued at $71,655,152.38. This represents a 1.62 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Diane Olmstead sold 3,081 shares of the company’s stock in a transaction dated Friday, November 15th. The shares were sold at an average price of $164.56, for a total transaction of $507,009.36. Following the transaction, the director now directly owns 5,877 shares of the company’s stock, valued at $967,119.12. This represents a 34.39 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 17,228 shares of company stock worth $3,023,957 over the last ninety days. Company insiders own 1.36% of the company’s stock.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in the stock. Tidal Investments LLC raised its position in shares of Extra Space Storage by 34.4% during the third quarter. Tidal Investments LLC now owns 12,640 shares of the real estate investment trust’s stock valued at $2,278,000 after buying an additional 3,234 shares during the last quarter. Wilmington Savings Fund Society FSB acquired a new position in shares of Extra Space Storage during the third quarter valued at about $654,000. World Investment Advisors LLC acquired a new position in shares of Extra Space Storage during the third quarter valued at about $216,000. Sanctuary Advisors LLC raised its position in Extra Space Storage by 9.1% in the third quarter. Sanctuary Advisors LLC now owns 18,480 shares of the real estate investment trust’s stock worth $3,107,000 after purchasing an additional 1,549 shares in the last quarter. Finally, Brown Financial Advisors raised its position in Extra Space Storage by 69.1% in the third quarter. Brown Financial Advisors now owns 9,134 shares of the real estate investment trust’s stock worth $1,646,000 after purchasing an additional 3,731 shares in the last quarter. Institutional investors and hedge funds own 99.11% of the company’s stock.

Extra Space Storage Stock Performance

EXR opened at $170.96 on Monday. The company has a market capitalization of $36.24 billion, a price-to-earnings ratio of 44.75, a price-to-earnings-growth ratio of 8.61 and a beta of 0.87. The company has a debt-to-equity ratio of 0.77, a current ratio of 0.23 and a quick ratio of 0.23. Extra Space Storage has a 1-year low of $129.23 and a 1-year high of $184.87. The business has a 50 day moving average price of $169.64 and a two-hundred day moving average price of $164.51.

Extra Space Storage (NYSE:EXR) last posted its quarterly earnings results on Tuesday, October 29th. The real estate investment trust reported $0.91 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.03 by ($1.12). The company had revenue of $824.80 million during the quarter, compared to the consensus estimate of $826.93 million. Extra Space Storage had a net margin of 25.35% and a return on equity of 5.51%. Extra Space Storage’s quarterly revenue was up 10.2% on a year-over-year basis. During the same period in the prior year, the company posted $2.02 EPS. Research analysts predict that Extra Space Storage will post 8.09 EPS for the current fiscal year.

Extra Space Storage Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, December 31st. Shareholders of record on Monday, December 16th will be issued a dividend of $1.62 per share. This represents a $6.48 dividend on an annualized basis and a yield of 3.79%. The ex-dividend date of this dividend is Monday, December 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.