Wells Fargo & Company Reiterates Equal Weight Rating for Extra Space Storage (NYSE:EXR)

Wells Fargo & Company reaffirmed their equal weight rating on shares of Extra Space Storage (NYSE:EXR) in a research note published on Monday, Marketbeat Ratings reports. They currently have a $175.00 price target on the real estate investment trust’s stock.

A number of other analysts also recently issued reports on EXR. Evercore ISI dropped their price objective on shares of Extra Space Storage from $170.00 to $168.00 and set an “in-line” rating for the company in a report on Monday, October 14th. KeyCorp boosted their price target on shares of Extra Space Storage from $172.00 to $178.00 and gave the stock an “overweight” rating in a research note on Monday, September 9th. Raymond James boosted their price target on shares of Extra Space Storage from $160.00 to $175.00 and gave the stock an “outperform” rating in a research note on Tuesday, July 23rd. Bank of America downgraded shares of Extra Space Storage from a “neutral” rating to an “underperform” rating and lowered their price objective for the company from $172.00 to $155.00 in a research note on Monday, August 5th. Finally, Scotiabank upped their price objective on shares of Extra Space Storage from $159.00 to $169.00 and gave the company a “sector underperform” rating in a research note on Thursday, August 22nd. Two research analysts have rated the stock with a sell rating, eight have given a hold rating and six have issued a buy rating to the stock. According to MarketBeat.com, Extra Space Storage has an average rating of “Hold” and a consensus price target of $170.80.

Extra Space Storage Stock Performance

NYSE EXR opened at $168.35 on Monday. Extra Space Storage has a 52-week low of $101.19 and a 52-week high of $184.87. The company has a debt-to-equity ratio of 0.76, a quick ratio of 0.20 and a current ratio of 0.20. The company has a market capitalization of $35.64 billion, a P/E ratio of 37.49, a P/E/G ratio of 6.47 and a beta of 0.86. The company has a fifty day moving average of $174.58 and a 200-day moving average of $159.51.

Extra Space Storage Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, September 30th. Shareholders of record on Monday, September 16th were issued a $1.62 dividend. This represents a $6.48 dividend on an annualized basis and a yield of 3.85%. The ex-dividend date of this dividend was Monday, September 16th. Extra Space Storage’s dividend payout ratio (DPR) is presently 144.32%.

Insiders Place Their Bets

In other news, EVP William N. Springer sold 2,000 shares of the company’s stock in a transaction that occurred on Wednesday, August 28th. The shares were sold at an average price of $175.33, for a total value of $350,660.00. Following the transaction, the executive vice president now owns 11,919 shares in the company, valued at approximately $2,089,758.27. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this link. In related news, EVP William N. Springer sold 2,000 shares of the stock in a transaction that occurred on Wednesday, August 28th. The shares were sold at an average price of $175.33, for a total transaction of $350,660.00. Following the transaction, the executive vice president now owns 11,919 shares in the company, valued at $2,089,758.27. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Gwyn Goodson Mcneal sold 2,823 shares of the stock in a transaction that occurred on Friday, August 23rd. The shares were sold at an average price of $177.01, for a total transaction of $499,699.23. Following the transaction, the executive vice president now owns 32,855 shares in the company, valued at approximately $5,815,663.55. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 18,970 shares of company stock worth $3,367,307. 1.36% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the business. Pathway Financial Advisers LLC increased its stake in shares of Extra Space Storage by 17,832.9% in the third quarter. Pathway Financial Advisers LLC now owns 2,018,884 shares of the real estate investment trust’s stock worth $363,783,000 after purchasing an additional 2,007,626 shares in the last quarter. Boston Partners purchased a new stake in shares of Extra Space Storage in the first quarter worth $130,554,000. Janus Henderson Group PLC increased its stake in shares of Extra Space Storage by 2,244.2% in the first quarter. Janus Henderson Group PLC now owns 597,729 shares of the real estate investment trust’s stock worth $87,824,000 after purchasing an additional 572,231 shares in the last quarter. Canada Pension Plan Investment Board grew its stake in Extra Space Storage by 43.7% during the first quarter. Canada Pension Plan Investment Board now owns 1,557,135 shares of the real estate investment trust’s stock valued at $228,899,000 after acquiring an additional 473,559 shares in the last quarter. Finally, American Century Companies Inc. grew its stake in Extra Space Storage by 543.5% during the second quarter. American Century Companies Inc. now owns 397,170 shares of the real estate investment trust’s stock valued at $61,724,000 after acquiring an additional 335,447 shares in the last quarter. 99.11% of the stock is currently owned by institutional investors.

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.