Extra Space Storage Inc (NYSE:EXR) Given Average Rating of “Hold” by Analysts

Extra Space Storage Inc (NYSE:EXR) has earned a consensus recommendation of “Hold” from the sixteen analysts that are presently covering the company, Marketbeat reports. One investment analyst has rated the stock with a sell rating, nine have issued a hold rating and six have assigned a buy rating to the company. The average 12 month target price among brokers that have issued ratings on the stock in the last year is $144.6667.

A number of analysts have recently weighed in on the company. Royal Bank Of Canada dropped their price objective on Extra Space Storage from $148.00 to $146.00 and set a “sector perform” rating for the company in a research note on Friday, November 7th. Evercore reaffirmed a “cautious” rating on shares of Extra Space Storage in a research note on Monday, November 3rd. Mizuho increased their price target on shares of Extra Space Storage from $137.00 to $143.00 and gave the company an “outperform” rating in a research report on Monday, January 12th. Wells Fargo & Company cut their price target on shares of Extra Space Storage from $160.00 to $150.00 and set an “overweight” rating on the stock in a report on Thursday, February 5th. Finally, Truist Financial boosted their price objective on shares of Extra Space Storage from $142.00 to $146.00 and gave the company a “hold” rating in a research report on Tuesday, January 20th.

Institutional Investors Weigh In On Extra Space Storage

Institutional investors and hedge funds have recently bought and sold shares of the business. Avalon Trust Co bought a new position in shares of Extra Space Storage during the third quarter valued at approximately $28,000. Caitong International Asset Management Co. Ltd purchased a new position in Extra Space Storage during the 3rd quarter valued at $28,000. Versant Capital Management Inc raised its holdings in Extra Space Storage by 60.2% in the 3rd quarter. Versant Capital Management Inc now owns 213 shares of the real estate investment trust’s stock worth $30,000 after purchasing an additional 80 shares in the last quarter. Davis Capital Management purchased a new stake in shares of Extra Space Storage in the 3rd quarter worth about $35,000. Finally, Rosenberg Matthew Hamilton lifted its position in shares of Extra Space Storage by 442.9% in the 4th quarter. Rosenberg Matthew Hamilton now owns 266 shares of the real estate investment trust’s stock worth $35,000 after purchasing an additional 217 shares during the period. Hedge funds and other institutional investors own 99.11% of the company’s stock.

Extra Space Storage Trading Up 1.0%

Shares of EXR stock opened at $147.83 on Wednesday. The business has a 50-day moving average of $137.57 and a 200 day moving average of $138.66. The company has a debt-to-equity ratio of 0.89, a current ratio of 0.24 and a quick ratio of 0.24. Extra Space Storage has a 1-year low of $121.03 and a 1-year high of $162.77. The stock has a market capitalization of $31.38 billion, a PE ratio of 33.00, a P/E/G ratio of 1.76 and a beta of 1.27.

Extra Space Storage Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, March 31st. Investors of record on Monday, March 16th will be issued a dividend of $1.62 per share. This represents a $6.48 dividend on an annualized basis and a yield of 4.4%. The ex-dividend date is Monday, March 16th. Extra Space Storage’s payout ratio is currently 144.64%.

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.