Raymond James Financial Begins Coverage on Extra Space Storage (NYSE:EXR)

Equities researchers at Raymond James Financial started coverage on shares of Extra Space Storage (NYSE:EXR) in a report released on Thursday. The firm set an “outperform” rating and a $44.00 price target on the real estate investment trust’s stock. Raymond James Financial’s price objective points to a potential downside of 70.35% from the stock’s previous close.

Several other analysts have also commented on the company. UBS Group raised their price objective on Extra Space Storage from $158.00 to $163.00 and gave the company a “buy” rating in a report on Friday, July 10th. Mizuho increased their target price on Extra Space Storage from $150.00 to $155.00 and gave the company an “outperform” rating in a research report on Wednesday, May 27th. Truist Financial lifted their price target on shares of Extra Space Storage from $140.00 to $148.00 and gave the company a “hold” rating in a research note on Wednesday, June 17th. Bank of America upgraded shares of Extra Space Storage from an “underperform” rating to a “neutral” rating and upped their price objective for the stock from $147.00 to $156.00 in a research report on Tuesday, June 16th. Finally, Wells Fargo & Company boosted their target price on shares of Extra Space Storage from $148.00 to $154.00 and gave the stock an “overweight” rating in a research note on Monday, June 1st. Six equities research analysts have rated the stock with a Buy rating and ten have issued a Hold rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $146.27.

Extra Space Storage Trading Down 1.3%

Shares of Extra Space Storage stock opened at $148.38 on Thursday. The firm has a 50-day simple moving average of $145.31 and a two-hundred day simple moving average of $142.13. The company has a market cap of $31.35 billion, a P/E ratio of 33.27, a price-to-earnings-growth ratio of 4.66 and a beta of 1.19. Extra Space Storage has a fifty-two week low of $125.71 and a fifty-two 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.

Extra Space Storage (NYSE:EXR) last posted its 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). 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 for the quarter, compared to analyst estimates of $851.35 million. During the same quarter last year, the business earned $2.00 earnings per share. Extra Space Storage’s revenue was up 4.4% on a year-over-year basis. Extra Space Storage has set its FY 2026 guidance at 8.050-8.350 EPS. As a group, equities analysts predict that Extra Space Storage will post 8.26 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Extra Space Storage news, EVP Gwyn Goodson Mcneal sold 3,300 shares of the firm’s stock in a transaction that occurred 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 directly owned 37,374 shares of the company’s stock, valued at $5,606,100. This trade represents a 8.11% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Insiders own 0.96% of the company’s stock.

Institutional Investors Weigh In On Extra Space Storage

Several hedge funds and other institutional investors have recently made changes to their positions in the stock. Caitong International Asset Management Co. Ltd acquired a new position in Extra Space Storage during the third quarter worth $28,000. Reflection Asset Management acquired a new stake in shares of Extra Space Storage in the 4th quarter worth $26,000. Cassaday & Co Wealth Management LLC acquired a new stake in shares of Extra Space Storage in the 1st quarter worth $30,000. CoreCap Advisors LLC raised its holdings in shares of Extra Space Storage by 975.0% during the 2nd quarter. CoreCap Advisors LLC now owns 258 shares of the real estate investment trust’s stock worth $37,000 after acquiring an additional 234 shares during the period. Finally, Rosenberg Matthew Hamilton raised its holdings in shares of Extra Space Storage by 442.9% during the 4th quarter. Rosenberg Matthew Hamilton now owns 266 shares of the real estate investment trust’s stock worth $35,000 after acquiring an additional 217 shares during the period. Institutional investors and hedge funds own 99.11% of the company’s stock.

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.