Extra Space Storage Inc (NYSE:EXR) Receives Average Rating of “Hold” from Brokerages

Shares of Extra Space Storage Inc (NYSE:EXR) have earned a consensus rating of “Hold” from the fifteen ratings firms that are covering the firm, MarketBeat reports. One analyst has rated the stock with a sell rating, nine have issued a hold rating and five have given a buy rating to the company. The average 12-month price target among brokers that have issued ratings on the stock in the last year is $151.8571.

A number of research analysts have recently commented on EXR shares. BNP Paribas Exane upgraded shares of Extra Space Storage from a “neutral” rating to an “outperform” rating and set a $154.00 price target on the stock in a report on Wednesday, March 18th. Scotiabank lifted their price objective on shares of Extra Space Storage from $145.00 to $156.00 and gave the company a “sector perform” rating in a report on Monday, March 2nd. JPMorgan Chase & Co. upped their target price on shares of Extra Space Storage from $142.00 to $144.00 and gave the stock a “neutral” rating in a research note on Monday, March 23rd. Truist Financial reduced their target price on shares of Extra Space Storage from $158.00 to $150.00 and set a “hold” rating on the stock in a research report on Wednesday, May 6th. Finally, Mizuho lifted their price target on shares of Extra Space Storage from $150.00 to $155.00 and gave the company an “outperform” rating in a research note on Wednesday.

Extra Space Storage Price Performance

Shares of EXR stock opened at $145.99 on Friday. The stock has a 50 day moving average price of $139.08 and a 200 day moving average price of $138.38. Extra Space Storage has a 52-week low of $125.71 and a 52-week high of $155.19. The company has a debt-to-equity ratio of 0.93, a quick ratio of 0.37 and a current ratio of 0.37. The firm has a market capitalization of $30.84 billion, a P/E ratio of 32.73, a P/E/G ratio of 4.70 and a beta of 1.22.

Extra Space Storage (NYSE:EXR) last announced its quarterly earnings data on Tuesday, April 28th. The real estate investment trust reported $1.14 EPS 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 the consensus estimate of $851.35 million. During the same period last year, the company earned $2.00 EPS. The business’s revenue was up 4.4% compared to the same quarter last year. Extra Space Storage has set its FY 2026 guidance at 8.050-8.350 EPS. As a group, sell-side analysts predict that Extra Space Storage will post 8.23 earnings per share for the current year.

Extra Space Storage Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 30th. Investors of record on Monday, June 15th will be paid a $1.62 dividend. The ex-dividend date of this dividend is Monday, June 15th. This represents a $6.48 annualized dividend and a yield of 4.4%. Extra Space Storage’s dividend payout ratio is 145.29%.

Insider Buying and Selling

In other Extra Space Storage news, CEO Joseph D. Margolis sold 7,500 shares of Extra Space Storage stock in a transaction on Friday, March 13th. The stock was 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 of the company’s stock, valued at $9,447,609.60. The trade was a 10.14% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. 0.96% of the stock is owned by insiders.

Hedge Funds Weigh In On Extra Space Storage

Hedge funds and other institutional investors have recently made changes to their positions in the company. Glenmede Trust Co. NA increased its stake in shares of Extra Space Storage by 8.7% during the first quarter. Glenmede Trust Co. NA now owns 4,997 shares of the real estate investment trust’s stock valued at $655,000 after buying an additional 399 shares during the period. Bank of America Corp DE lifted its stake in Extra Space Storage by 24.9% in the first quarter. Bank of America Corp DE now owns 780,236 shares of the real estate investment trust’s stock worth $102,312,000 after acquiring an additional 155,501 shares during the period. Edgestream Partners L.P. lifted its stake in Extra Space Storage by 27.3% in the first quarter. Edgestream Partners L.P. now owns 32,371 shares of the real estate investment trust’s stock worth $4,245,000 after acquiring an additional 6,940 shares during the period. Arkadios Wealth Advisors grew its holdings in Extra Space Storage by 6.7% during the 1st quarter. Arkadios Wealth Advisors now owns 16,295 shares of the real estate investment trust’s stock worth $2,137,000 after acquiring an additional 1,022 shares in the last quarter. Finally, EverSource Wealth Advisors LLC grew its holdings in Extra Space Storage by 13.7% during the 1st quarter. EverSource Wealth Advisors LLC now owns 861 shares of the real estate investment trust’s stock worth $113,000 after acquiring an additional 104 shares in the last quarter. Institutional investors own 99.11% of the company’s stock.

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.