Wall Street Zen Downgrades Extra Space Storage (NYSE:EXR) to Sell

Extra Space Storage (NYSE:EXR) was downgraded by investment analysts at Wall Street Zen from a “hold” rating to a “sell” rating in a research report issued on Saturday.

Other equities research analysts have also recently issued research reports about the stock. 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. Weiss Ratings reissued a “hold (c)” rating on shares of Extra Space Storage in a report on Tuesday, April 21st. Truist Financial lowered 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 report on Wednesday, May 6th. BNP Paribas Exane raised shares of Extra Space Storage from a “neutral” rating to an “outperform” rating and set a $154.00 target price on the stock in a report on Wednesday, March 18th. Finally, Scotiabank boosted their target price 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. Five equities research analysts have rated the stock with a Buy rating, nine have issued a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, Extra Space Storage has a consensus rating of “Hold” and a consensus price target of $152.29.

Extra Space Storage Trading Up 0.0%

NYSE:EXR opened at $150.33 on Friday. The company has a current ratio of 0.37, a quick ratio of 0.37 and a debt-to-equity ratio of 0.93. The stock has a market capitalization of $31.76 billion, a PE ratio of 33.71, a price-to-earnings-growth ratio of 4.88 and a beta of 1.20. The firm’s 50 day moving average is $142.29 and its 200 day moving average is $139.46. Extra Space Storage has a 12 month low of $125.71 and a 12 month high of $155.19.

Extra Space Storage (NYSE:EXR) last posted its quarterly earnings results on Tuesday, April 28th. The real estate investment trust reported $1.14 EPS for the quarter, missing analysts’ consensus estimates of $2.01 by ($0.87). The company had revenue of $856.03 million during the quarter, compared to the consensus estimate of $851.35 million. Extra Space Storage had a return on equity of 6.65% and a net margin of 27.66%.The company’s revenue for the quarter was up 4.4% compared to the same quarter last year. During the same period last year, the firm posted $2.00 EPS. Extra Space Storage has set its FY 2026 guidance at 8.050-8.350 EPS. Sell-side analysts expect that Extra Space Storage will post 8.24 earnings per share for the current year.

Insider Buying and Selling at Extra Space Storage

In other news, EVP Gwyn Goodson Mcneal sold 3,300 shares of the company’s stock in a transaction on Thursday, June 11th. The shares were sold at an average price of $150.00, for a total value of $495,000.00. Following the transaction, the executive vice president owned 37,374 shares of the company’s stock, valued at approximately $5,606,100. This represents a 8.11% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Insiders own 0.96% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in EXR. NewEdge Advisors LLC increased its holdings in shares of 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 purchasing an additional 291 shares during the period. Empowered Funds LLC increased its holdings in shares of 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 period. Sivia Capital Partners LLC bought a new position in shares of Extra Space Storage in the second quarter worth $457,000. First Trust Advisors LP increased its holdings in shares of Extra Space Storage by 184.1% in the second quarter. First Trust Advisors LP now owns 108,205 shares of the real estate investment trust’s stock worth $15,954,000 after purchasing an additional 70,115 shares during the period. Finally, Brown Advisory Inc. increased its holdings in shares of Extra Space Storage by 1.8% in the second quarter. Brown Advisory Inc. now owns 4,431 shares of the real estate investment trust’s stock worth $653,000 after purchasing an additional 80 shares during the period. 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.