Extra Space Storage (NYSE:EXR) Raised to Outperform at BNP Paribas Exane

Extra Space Storage (NYSE:EXR) was upgraded by analysts at BNP Paribas Exane from a “neutral” rating to an “outperform” rating in a research report issued to clients and investors on Wednesday, MarketBeat Ratings reports. The firm currently has a $154.00 target price on the real estate investment trust’s stock. BNP Paribas Exane’s price target points to a potential upside of 13.36% from the company’s previous close.

A number of other research analysts have also recently weighed in on the stock. Wells Fargo & Company lowered their target price on shares of Extra Space Storage from $160.00 to $150.00 and set an “overweight” rating on the stock in a research note on Thursday, February 5th. Truist Financial raised their price target on Extra Space Storage from $142.00 to $146.00 and gave the company a “hold” rating in a report on Tuesday, January 20th. Morgan Stanley lowered their price objective on Extra Space Storage from $155.00 to $152.00 and set an “equal weight” rating on the stock in a research report on Friday, December 5th. Royal Bank Of Canada upped their price objective on Extra Space Storage from $142.00 to $153.00 and gave the stock a “sector perform” rating in a research note on Monday, February 23rd. Finally, Weiss Ratings reiterated a “hold (c)” rating on shares of Extra Space Storage in a research report on Thursday, January 22nd. Six research analysts have rated the stock with a Buy rating, nine have assigned a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $145.00.

Extra Space Storage Trading Down 0.4%

Extra Space Storage stock opened at $135.85 on Wednesday. Extra Space Storage has a 12-month low of $121.03 and a 12-month high of $155.19. The firm has a market capitalization of $28.68 billion, a price-to-earnings ratio of 29.53, a P/E/G ratio of 2.74 and a beta of 1.24. The firm has a 50 day moving average of $143.68 and a 200 day moving average of $139.68. The company has a current ratio of 0.39, a quick ratio of 0.39 and a debt-to-equity ratio of 0.92.

Extra Space Storage (NYSE:EXR) last issued its quarterly earnings results on Thursday, February 19th. The real estate investment trust reported $2.08 earnings per share for the quarter, beating the consensus estimate of $2.03 by $0.05. The business had revenue of $857.47 million for the quarter, compared to the consensus estimate of $732.92 million. Extra Space Storage had a net margin of 28.84% and a return on equity of 6.79%. The company’s revenue for the quarter was up 4.3% on a year-over-year basis. During the same quarter in the previous year, the firm earned $2.03 earnings per share. Extra Space Storage has set its FY 2026 guidance at 8.050-8.350 EPS. As a group, research analysts predict that Extra Space Storage will post 8.1 earnings per share for the current year.

Insider Activity

In other news, CEO Joseph D. Margolis sold 7,500 shares of Extra Space Storage stock in a transaction dated Friday, March 13th. The stock was sold at an average price of $142.08, for a total value of $1,065,600.00. Following the sale, the chief executive officer directly owned 66,495 shares of the company’s stock, valued at approximately $9,447,609.60. The trade was a 10.14% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Company insiders own 0.96% of the company’s stock.

Hedge Funds Weigh In On Extra Space Storage

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. NewEdge Advisors LLC boosted its position in shares of Extra Space Storage by 9.3% during the 1st quarter. NewEdge Advisors LLC now owns 3,409 shares of the real estate investment trust’s stock valued at $506,000 after acquiring an additional 291 shares during the last quarter. Empowered Funds LLC increased its position in Extra Space Storage by 15.5% in the first quarter. Empowered Funds LLC now owns 4,912 shares of the real estate investment trust’s stock worth $729,000 after purchasing an additional 661 shares during the last quarter. Sivia Capital Partners LLC bought a new stake in Extra Space Storage in the second quarter worth $457,000. Creative Planning raised its stake in Extra Space Storage by 32.1% during the second quarter. Creative Planning now owns 24,784 shares of the real estate investment trust’s stock valued at $3,654,000 after purchasing an additional 6,021 shares in the last quarter. Finally, Intech Investment Management LLC raised its stake in Extra Space Storage by 183.8% during the second quarter. Intech Investment Management LLC now owns 14,755 shares of the real estate investment trust’s stock valued at $2,175,000 after purchasing an additional 9,555 shares in the last quarter. 99.11% of the stock is owned by institutional investors.

About Extra Space Storage

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.