Brokerages Set Extra Space Storage Inc (NYSE:EXR) Price Target at $148.36

Shares of Extra Space Storage Inc (NYSE:EXR) have been assigned an average rating of “Hold” from the sixteen ratings firms that are presently covering the firm, MarketBeat.com reports. Ten equities research analysts have rated the stock with a hold recommendation and six have assigned a buy recommendation to the company. The average 1 year target price among brokerages that have updated their coverage on the stock in the last year is $148.3571.

A number of equities research analysts have recently issued reports on EXR shares. Evercore ISI reiterated a “cautious” rating on shares of Extra Space Storage in a research report on Monday, November 3rd. Scotiabank decreased their price objective on shares of Extra Space Storage from $166.00 to $162.00 and set a “sector outperform” rating on the stock in a research report on Thursday, August 28th. Barclays lowered their price target on shares of Extra Space Storage from $178.00 to $169.00 and set an “overweight” rating on the stock in a research report on Friday, August 8th. UBS Group cut their target price on shares of Extra Space Storage from $169.00 to $160.00 and set a “buy” rating for the company in a research note on Tuesday, September 16th. Finally, Royal Bank Of Canada dropped their target price on Extra Space Storage from $148.00 to $146.00 and set a “sector perform” rating for the company in a research note on Friday, November 7th.

Extra Space Storage Price Performance

Extra Space Storage stock opened at $132.78 on Monday. The company has a market cap of $28.18 billion, a P/E ratio of 29.64, a price-to-earnings-growth ratio of 2.56 and a beta of 1.14. Extra Space Storage has a one year low of $121.03 and a one year high of $175.57. The business has a fifty day moving average of $142.29 and a two-hundred day moving average of $144.83. The company has a debt-to-equity ratio of 0.88, a quick ratio of 0.29 and a current ratio of 0.29.

Extra Space Storage (NYSE:EXR) last posted its quarterly earnings results on Wednesday, October 29th. The real estate investment trust reported $2.08 earnings per share for the quarter, topping analysts’ consensus estimates of $2.06 by $0.02. Extra Space Storage had a net margin of 28.40% and a return on equity of 6.53%. The business had revenue of $838.53 million for the quarter, compared to analysts’ expectations of $736.26 million. During the same period in the prior year, the company posted $2.07 EPS. The business’s revenue for the quarter was up 4.1% on a year-over-year basis. Extra Space Storage has set its FY 2025 guidance at 8.120-8.20 EPS. As a group, analysts predict that Extra Space Storage will post 8.1 earnings per share for the current fiscal year.

Extra Space Storage Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, September 30th. Investors of record on Monday, September 15th were given a $1.62 dividend. This represents a $6.48 annualized dividend and a dividend yield of 4.9%. The ex-dividend date of this dividend was Monday, September 15th. Extra Space Storage’s dividend payout ratio (DPR) is 144.64%.

Insider Buying and Selling

In other news, CEO Joseph D. Margolis sold 7,500 shares of the firm’s stock in a transaction dated Wednesday, October 1st. The stock was sold at an average price of $141.41, for a total value of $1,060,575.00. Following the transaction, the chief executive officer directly owned 19,760 shares in the company, valued at $2,794,261.60. This trade represents a 27.51% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 1.36% of the stock is owned by corporate insiders.

Institutional Trading of Extra Space Storage

Institutional investors and hedge funds have recently bought and sold shares of the business. Vanguard Group Inc. grew its stake in Extra Space Storage by 0.5% during the third quarter. Vanguard Group Inc. now owns 34,430,823 shares of the real estate investment trust’s stock worth $4,852,680,000 after buying an additional 161,171 shares during the period. State Street Corp lifted its holdings in shares of Extra Space Storage by 1.6% during the 2nd quarter. State Street Corp now owns 13,680,181 shares of the real estate investment trust’s stock valued at $2,017,006,000 after acquiring an additional 210,466 shares in the last quarter. Norges Bank purchased a new stake in Extra Space Storage during the 2nd quarter worth $1,058,303,000. Principal Financial Group Inc. increased its holdings in Extra Space Storage by 6.4% in the 3rd quarter. Principal Financial Group Inc. now owns 6,715,901 shares of the real estate investment trust’s stock valued at $946,540,000 after purchasing an additional 406,146 shares in the last quarter. Finally, Geode Capital Management LLC raised its position in Extra Space Storage by 1.8% in the second quarter. Geode Capital Management LLC now owns 5,795,253 shares of the real estate investment trust’s stock valued at $851,070,000 after purchasing an additional 100,637 shares during the period. Institutional investors and hedge funds 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.