Extra Space Storage (NYSE:EXR) Given New $150.00 Price Target at Truist Financial

Extra Space Storage (NYSE:EXR) had its price objective cut by analysts at Truist Financial from $158.00 to $150.00 in a report issued on Wednesday,Benzinga reports. The brokerage presently has a “hold” rating on the real estate investment trust’s stock. Truist Financial’s target price points to a potential upside of 4.53% from the company’s current price.

EXR has been the subject of several other research reports. BNP Paribas Exane upgraded Extra Space Storage from a “neutral” rating to an “outperform” rating and set a $154.00 target price for the company in a research note on Wednesday, March 18th. Wall Street Zen downgraded shares of Extra Space Storage from a “hold” rating to a “sell” rating in a research report on Saturday, April 25th. Weiss Ratings reissued a “hold (c)” rating on shares of Extra Space Storage in a report on Tuesday, April 21st. Bank of America downgraded Extra Space Storage from a “neutral” rating to an “underperform” rating and set a $143.00 price objective for the company. in a research note on Thursday, February 5th. Finally, JPMorgan Chase & Co. boosted their target price on Extra Space Storage from $142.00 to $144.00 and gave the company a “neutral” rating in a report on Monday, March 23rd. Six equities research analysts have rated the stock with a Buy rating, nine have issued a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $143.93.

Extra Space Storage Stock Performance

EXR stock traded up $3.72 during midday trading on Wednesday, hitting $143.51. 131,191 shares of the stock traded hands, compared to its average volume of 1,318,310. Extra Space Storage has a 1-year low of $125.71 and a 1-year high of $155.19. The company has a debt-to-equity ratio of 0.93, a current ratio of 0.37 and a quick ratio of 0.39. The stock’s fifty day simple moving average is $140.22 and its 200-day simple moving average is $138.37. The firm has a market cap of $30.31 billion, a P/E ratio of 32.15, a PEG ratio of 4.42 and a beta of 1.22.

Extra Space Storage (NYSE:EXR) last announced its quarterly earnings results on Tuesday, April 28th. The real estate investment trust reported $1.14 earnings per share for the quarter, missing the consensus estimate of $2.01 by ($0.87). Extra Space Storage had a net margin of 27.66% and a return on equity of 6.65%. The business had revenue of $856.03 million during the quarter, compared to analysts’ expectations of $851.35 million. During the same quarter in the prior year, the firm earned $2.00 EPS. Extra Space Storage’s revenue for the quarter was up 4.4% on a year-over-year basis. Extra Space Storage has set its FY 2026 guidance at 8.050-8.350 EPS. On average, analysts expect that Extra Space Storage will post 8.23 earnings per share for the current year.

Insiders Place Their Bets

In related news, CEO Joseph D. Margolis sold 7,500 shares of Extra Space Storage stock in a transaction on Friday, March 13th. The shares were sold at an average price of $142.08, for a total transaction of $1,065,600.00. Following the sale, the chief executive officer owned 66,495 shares of the company’s stock, valued at $9,447,609.60. The trade was a 10.14% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Insiders own 0.96% of the company’s stock.

Institutional Trading of Extra Space Storage

A number of hedge funds and other institutional investors have recently modified their holdings of EXR. Vanguard Group Inc. grew its stake in Extra Space Storage by 0.5% during the 3rd quarter. Vanguard Group Inc. now owns 34,430,823 shares of the real estate investment trust’s stock valued at $4,852,680,000 after purchasing an additional 161,171 shares in the last quarter. Cohen & Steers Inc. grew its position in shares of Extra Space Storage by 13.4% during the fourth quarter. Cohen & Steers Inc. now owns 15,979,424 shares of the real estate investment trust’s stock worth $2,080,971,000 after buying an additional 1,888,763 shares in the last quarter. State Street Corp increased its stake in shares of Extra Space Storage by 1.7% in the third quarter. State Street Corp now owns 13,910,878 shares of the real estate investment trust’s stock worth $1,960,599,000 after buying an additional 230,697 shares during the last quarter. Norges Bank bought a new position in Extra Space Storage during the 4th quarter valued at $1,219,606,000. Finally, Capital World Investors boosted its stake in Extra Space Storage by 0.5% during the 3rd quarter. Capital World Investors now owns 7,161,360 shares of the real estate investment trust’s stock valued at $1,009,371,000 after acquiring an additional 33,622 shares during the last quarter. 99.11% of the stock is owned by hedge funds and other institutional investors.

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.