Extra Space Storage (NYSE:EXR) Lowered to “Sell” Rating by Wall Street Zen

Wall Street Zen downgraded shares of Extra Space Storage (NYSE:EXR) from a hold rating to a sell rating in a report released on Saturday.

A number of other brokerages have also recently issued reports on EXR. Weiss Ratings reiterated a “hold (c)” rating on shares of Extra Space Storage in a report on Friday, July 17th. Raymond James Financial started coverage on Extra Space Storage in a research report on Thursday, July 16th. They issued an “outperform” rating and a $44.00 price target for the company. The Goldman Sachs Group reissued a “neutral” rating and set a $160.00 price objective on shares of Extra Space Storage in a report on Thursday. Bank of America upgraded Extra Space Storage from an “underperform” rating to a “neutral” rating and boosted their target price for the stock from $147.00 to $156.00 in a report on Tuesday, June 16th. Finally, UBS Group upped their target price on Extra Space Storage from $158.00 to $163.00 and gave the stock a “buy” rating in a research report on Friday, July 10th. Six investment analysts have rated the stock with a Buy rating and ten have assigned a Hold rating to the stock. According to data from MarketBeat, Extra Space Storage currently has a consensus rating of “Hold” and an average target price of $147.73.

Extra Space Storage Price Performance

NYSE EXR opened at $148.49 on Friday. The company has a quick ratio of 0.37, a current ratio of 1.56 and a debt-to-equity ratio of 0.96. The stock has a market capitalization of $31.37 billion, a PE ratio of 32.78, a price-to-earnings-growth ratio of 4.56 and a beta of 1.19. The company has a 50 day moving average price of $146.52 and a two-hundred day moving average price of $143.18. Extra Space Storage has a 12-month low of $125.71 and a 12-month high of $158.88.

Extra Space Storage (NYSE:EXR) last posted its earnings results on Tuesday, July 28th. The real estate investment trust reported $1.25 EPS for the quarter, topping the consensus estimate of $1.16 by $0.09. Extra Space Storage had a net margin of 27.80% and a return on equity of 6.70%. The company had revenue of $874.15 million during the quarter, compared to the consensus estimate of $874.99 million. The company’s revenue for the quarter was up 3.9% compared to the same quarter last year. During the same period in the previous year, the firm posted $2.05 earnings per share. Extra Space Storage has set its FY 2026 guidance at 8.250-8.400 EPS. As a group, equities analysts predict that Extra Space Storage will post 8.29 earnings per share for the current fiscal year.

Extra Space Storage Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, June 30th. Shareholders of record on Monday, June 15th were issued a $1.62 dividend. The ex-dividend date of this dividend was Monday, June 15th. This represents a $6.48 dividend on an annualized basis and a yield of 4.4%. Extra Space Storage’s dividend payout ratio is 143.05%.

Insider Transactions at Extra Space Storage

In other Extra Space Storage news, EVP Gwyn Goodson Mcneal sold 3,300 shares of the firm’s stock in a transaction on Thursday, June 11th. The shares were sold at an average price of $150.00, for a total value of $495,000.00. Following the sale, the executive vice president directly owned 37,374 shares in the company, valued at $5,606,100. This trade represents a 8.11% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. 0.96% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Extra Space Storage

A number of institutional investors have recently added to or reduced their stakes in EXR. NewEdge Advisors LLC grew its holdings in shares of Extra Space Storage by 9.3% during the 1st quarter. NewEdge Advisors LLC now owns 3,409 shares of the real estate investment trust’s stock worth $506,000 after purchasing an additional 291 shares in the last quarter. Empowered Funds LLC raised its stake in shares of Extra Space Storage by 15.5% in the first quarter. Empowered Funds LLC now owns 4,912 shares of the real estate investment trust’s stock valued at $729,000 after purchasing an additional 661 shares in the last quarter. Sivia Capital Partners LLC acquired a new position in shares of Extra Space Storage in the second quarter valued at $457,000. First Trust Advisors LP lifted its position in Extra Space Storage by 184.1% in the second quarter. First Trust Advisors LP now owns 108,205 shares of the real estate investment trust’s stock worth $15,954,000 after purchasing an additional 70,115 shares during the period. Finally, Brown Advisory Inc. lifted its position in Extra Space Storage by 1.8% in the second quarter. Brown Advisory Inc. now owns 4,431 shares of the real estate investment trust’s stock worth $653,000 after purchasing an additional 80 shares during the period. 99.11% of the stock is owned by institutional investors and hedge funds.

Extra Space Storage Company Profile

Extra Space Storage (NYSE: EXR) is a real estate investment trust that specializes in the ownership, development and operation of self-storage properties. The company provides storage solutions for residential and commercial customers, offering a range of unit sizes, climate-controlled units and specialized options such as vehicle and boat storage. Extra Space Storage markets itself as a customer-focused operator, with online rentals, contactless move-in options and ancillary retail products like packing supplies and insurance to support tenant needs.

Its business model combines property ownership with third-party management and development activities.