Extra Space Storage (NYSE:EXR) Stock Price Expected to Rise, Truist Financial Analyst Says

Extra Space Storage (NYSE:EXR) had its price target lifted by investment analysts at Truist Financial from $142.00 to $146.00 in a research report issued to clients and investors on Tuesday, MarketBeat.com reports. The brokerage currently has a “hold” rating on the real estate investment trust’s stock. Truist Financial’s price objective would indicate a potential upside of 0.41% from the company’s current price.

A number of other equities analysts have also recently weighed in on the stock. Wall Street Zen cut shares of Extra Space Storage from a “hold” rating to a “sell” rating in a research report on Saturday, November 1st. Mizuho increased their price target on Extra Space Storage from $137.00 to $143.00 and gave the company an “outperform” rating in a report on Monday, January 12th. Evercore ISI restated a “cautious” rating on shares of Extra Space Storage in a research note on Monday, November 3rd. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Extra Space Storage in a research report on Wednesday, October 8th. Finally, Barclays reiterated an “overweight” rating and set a $164.00 target price on shares of Extra Space Storage in a research note on Tuesday, January 13th. Six analysts have rated the stock with a Buy rating and ten have given a Hold rating to the company’s stock. According to MarketBeat.com, Extra Space Storage currently has an average rating of “Hold” and an average target price of $146.53.

Extra Space Storage Stock Down 0.1%

EXR opened at $145.41 on Tuesday. The firm has a market cap of $30.86 billion, a P/E ratio of 32.46, a PEG ratio of 2.70 and a beta of 1.27. The business’s fifty day simple moving average is $133.76 and its 200 day simple moving average is $139.68. Extra Space Storage has a 52 week low of $121.03 and a 52 week high of $162.77. The company has a quick ratio of 0.24, a current ratio of 0.24 and a debt-to-equity ratio of 0.89.

Extra Space Storage (NYSE:EXR) last announced its earnings results on Wednesday, October 29th. The real estate investment trust reported $2.08 earnings per share (EPS) 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 6.56%. The firm had revenue of $858.46 million for the quarter, compared to analyst estimates of $736.26 million. During the same quarter last year, the business earned $2.07 earnings per share. Extra Space Storage’s revenue was up 4.1% compared to the same quarter last year. Extra Space Storage has set its FY 2025 guidance at 8.120-8.20 EPS. As a group, equities research analysts anticipate that Extra Space Storage will post 8.1 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of the business. NewEdge Advisors LLC raised its position in Extra Space Storage by 9.3% in the first quarter. NewEdge Advisors LLC now owns 3,409 shares of the real estate investment trust’s stock worth $506,000 after acquiring an additional 291 shares in the last quarter. Empowered Funds LLC raised its holdings in Extra Space Storage by 15.5% during the 1st quarter. Empowered Funds LLC now owns 4,912 shares of the real estate investment trust’s stock worth $729,000 after buying an additional 661 shares during the period. Sivia Capital Partners LLC purchased a new stake in Extra Space Storage during the second quarter valued at about $457,000. Wealth Enhancement Advisory Services LLC boosted its holdings in shares of Extra Space Storage by 52.1% in the second quarter. Wealth Enhancement Advisory Services LLC now owns 34,355 shares of the real estate investment trust’s stock worth $5,252,000 after buying an additional 11,762 shares during the period. Finally, CX Institutional grew its holdings in shares of Extra Space Storage by 28.1% during the second quarter. CX Institutional now owns 1,098 shares of the real estate investment trust’s stock valued at $162,000 after buying an additional 241 shares in the last quarter. Institutional investors own 99.11% of the company’s stock.

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.