JPMorgan Chase & Co. Raises Extra Space Storage (NYSE:EXR) Price Target to $144.00

Extra Space Storage (NYSE:EXR) had its price target increased by investment analysts at JPMorgan Chase & Co. from $142.00 to $144.00 in a report issued on Monday,Benzinga reports. The firm presently has a “neutral” rating on the real estate investment trust’s stock. JPMorgan Chase & Co.‘s target price indicates a potential upside of 10.99% from the stock’s previous close.

Other equities research analysts have also recently issued reports about the stock. Truist Financial raised their price objective on shares of Extra Space Storage from $142.00 to $146.00 and gave the stock a “hold” rating in a research report on Tuesday, January 20th. Barclays boosted their target price on shares of Extra Space Storage from $164.00 to $170.00 and gave the company an “overweight” rating in a report on Thursday, March 5th. BNP Paribas Exane raised shares of Extra Space Storage from a “neutral” rating to an “outperform” rating and set a $154.00 price target for the company in a research note on Wednesday, March 18th. Mizuho raised their price target on shares of Extra Space Storage from $137.00 to $143.00 and gave the stock an “outperform” rating in a report on Monday, January 12th. Finally, Weiss Ratings reaffirmed a “hold (c)” rating on shares of Extra Space Storage in a research report on Thursday, January 22nd. Six equities research analysts have rated the stock with a Buy rating, nine have issued a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $143.80.

Extra Space Storage Stock Performance

NYSE EXR opened at $129.74 on Monday. The company has a debt-to-equity ratio of 0.92, a quick ratio of 0.39 and a current ratio of 0.39. The stock’s fifty day moving average is $143.13 and its two-hundred day moving average is $139.35. The firm has a market capitalization of $27.39 billion, a P/E ratio of 28.20, a price-to-earnings-growth ratio of 2.65 and a beta of 1.24. Extra Space Storage has a fifty-two week low of $121.03 and a fifty-two week high of $155.19.

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

Insiders Place Their Bets

In other Extra Space Storage news, CEO Joseph D. Margolis sold 7,500 shares of Extra Space Storage stock in a transaction dated 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 completion of the sale, the chief executive officer directly owned 66,495 shares in the company, valued at $9,447,609.60. This trade represents a 10.14% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 1.36% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Extra Space Storage

Large investors have recently made changes to their positions in the stock. 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 valued at $506,000 after purchasing an additional 291 shares during the period. Empowered Funds LLC boosted its position in shares of Extra Space Storage by 15.5% during the first 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 position in shares of Extra Space Storage during the second quarter worth $457,000. Dynamic Technology Lab Private Ltd acquired a new stake in shares of Extra Space Storage in the second quarter valued at $453,000. Finally, Prudential PLC grew its stake in shares of Extra Space Storage by 110.4% in the second quarter. Prudential PLC now owns 4,274 shares of the real estate investment trust’s stock valued at $630,000 after buying an additional 2,243 shares in the last quarter. 99.11% of the stock is currently owned by institutional investors and hedge funds.

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.