UBS Group Issues Positive Forecast for Extra Space Storage (NYSE:EXR) Stock Price

Extra Space Storage (NYSE:EXR) had its price target raised by investment analysts at UBS Group from $152.00 to $174.00 in a research note issued on Wednesday, Benzinga reports. The brokerage currently has a “buy” rating on the real estate investment trust’s stock. UBS Group‘s target price would suggest a potential upside of 7.86% from the company’s previous close.

EXR has been the topic of a number of other research reports. BNP Paribas Exane increased their price objective on shares of Extra Space Storage from $156.00 to $163.00 and gave the stock an “outperform” rating in a report on Thursday, August 13th. Royal Bank Of Canada reduced their target price on shares of Extra Space Storage from $157.00 to $156.00 and set a “sector perform” rating for the company in a research note on Thursday, October 29th. Wells Fargo & Company decreased their target price on shares of Extra Space Storage from $158.00 to $157.00 and set an “overweight” rating for the company in a research report on Tuesday, September 1st. Evercore raised their price target on shares of Extra Space Storage from $142.00 to $146.00 in a research note on Wednesday, October 28th. Finally, The Goldman Sachs Group reaffirmed a “neutral” rating and set a $160.00 price target (up from $152.00) on shares of Extra Space Storage in a report on Thursday, July 30th. Eight equities research analysts have rated the stock with a Buy rating and eight have assigned a Hold rating to the company’s stock. According to data from MarketBeat, Extra Space Storage currently has a consensus rating of “Moderate Buy” and a consensus price target of $156.75.

Extra Space Storage Stock Performance

NYSE EXR traded up $5.09 during trading hours on Wednesday, hitting $161.32. The company had a trading volume of 1,953,816 shares, compared to its average volume of 1,269,576. The company has a quick ratio of 1.56, a current ratio of 0.25 and a debt-to-equity ratio of 0.97. The firm has a market cap of $33.67 billion, a P/E ratio of 32.79, a price-to-earnings-growth ratio of 4.56 and a beta of 1.07. Extra Space Storage has a fifty-two week low of $125.71 and a fifty-two week high of $162.28. The business has a fifty day simple moving average of $138.93 and a 200-day simple moving average of $142.49.

Extra Space Storage (NYSE:EXR) last announced its quarterly earnings results on Tuesday, October 27th. The real estate investment trust reported $1.17 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.10 by ($0.93). Extra Space Storage had a net margin of 29.90% and a return on equity of 7.36%. The firm had revenue of $889.79 million for the quarter, compared to analyst estimates of $886.61 million. The business’s revenue was up 3.6% compared to the same quarter last year. During the same period last year, the firm posted $2.08 EPS. Equities analysts predict that Extra Space Storage will post 8.46 EPS for the current year.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the business. VIRGINIA RETIREMENT SYSTEMS ET Al acquired a new stake in Extra Space Storage in the second quarter worth about $5,535,000. Squarepoint Ops LLC grew its position in Extra Space Storage by 359.9% in the 2nd quarter. Squarepoint Ops LLC now owns 25,949 shares of the real estate investment trust’s stock valued at $3,770,000 after buying an additional 20,307 shares in the last quarter. Osmosis Investment Management UK Ltd acquired a new position in Extra Space Storage during the 2nd quarter valued at about $924,000. OVERSEA CHINESE BANKING Corp Ltd acquired a new position in Extra Space Storage during the 2nd quarter valued at about $6,042,000. Finally, Legal & General Group Plc acquired a new position in Extra Space Storage during the 2nd quarter valued at about $299,746,000. 99.11% of the stock is owned by institutional investors and hedge funds.

Extra Space Storage Company Profile

Extra Space Storage Inc is a real estate investment trust that owns, operates, manages and develops self-storage properties in the United States. The company provides storage units for residential, business and vehicle-storage customers, with facilities offering a range of unit sizes and access options.

In addition to operating properties under the Extra Space Storage brand, the company provides third-party property management, acquisition and development services for self-storage owners.