Extra Space Storage Inc. (NYSE:EXR) Given Average Recommendation of “Hold” by Brokerages

Shares of Extra Space Storage Inc. (NYSE:EXR) have been given a consensus rating of “Hold” by the twelve ratings firms that are covering the stock, MarketBeat Ratings reports. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating and five have issued a buy rating on the company. The average twelve-month price target among analysts that have issued a report on the stock in the last year is $151.83.

Several analysts have issued reports on the company. Evercore ISI dropped their target price on Extra Space Storage from $145.00 to $139.00 in a research report on Wednesday, May 1st. Citigroup cut their target price on Extra Space Storage from $168.00 to $160.00 and set a “neutral” rating on the stock in a research note on Friday, June 7th. Wells Fargo & Company increased their price target on shares of Extra Space Storage from $150.00 to $160.00 and gave the company an “overweight” rating in a research report on Friday, April 5th. Barclays lifted their price objective on shares of Extra Space Storage from $157.00 to $158.00 and gave the stock an “overweight” rating in a research report on Monday, May 20th. Finally, Raymond James reaffirmed an “outperform” rating and set a $160.00 target price on shares of Extra Space Storage in a research report on Thursday, March 28th.

Extra Space Storage Price Performance

Shares of EXR opened at $154.20 on Friday. The company has a debt-to-equity ratio of 0.73, a quick ratio of 0.15 and a current ratio of 0.15. The company has a 50 day moving average price of $148.67 and a 200-day moving average price of $146.98. Extra Space Storage has a fifty-two week low of $101.19 and a fifty-two week high of $164.99. The stock has a market capitalization of $32.65 billion, a PE ratio of 34.34, a PEG ratio of 3.24 and a beta of 0.83.

Extra Space Storage Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, June 28th. Shareholders of record on Friday, June 14th were paid a dividend of $1.62 per share. This represents a $6.48 annualized dividend and a yield of 4.20%. The ex-dividend date of this dividend was Friday, June 14th. Extra Space Storage’s payout ratio is 144.32%.

Insider Transactions at Extra Space Storage

In other Extra Space Storage news, CEO Joseph D. Margolis sold 7,500 shares of the company’s stock in a transaction on Monday, July 1st. The shares were sold at an average price of $152.58, for a total value of $1,144,350.00. Following the sale, the chief executive officer now directly owns 31,690 shares of the company’s stock, valued at $4,835,260.20. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. In other Extra Space Storage news, CEO Joseph D. Margolis sold 7,500 shares of the company’s stock in a transaction that occurred on Monday, July 1st. The stock was sold at an average price of $152.58, for a total value of $1,144,350.00. Following the sale, the chief executive officer now owns 31,690 shares in the company, valued at approximately $4,835,260.20. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, Director Joseph J. Bonner sold 677 shares of Extra Space Storage stock in a transaction that occurred on Friday, June 7th. The shares were sold at an average price of $148.22, for a total transaction of $100,344.94. Following the transaction, the director now directly owns 5,229 shares of the company’s stock, valued at $775,042.38. The disclosure for this sale can be found here. Company insiders own 1.36% of the company’s stock.

Institutional Investors Weigh In On Extra Space Storage

Hedge funds have recently modified their holdings of the company. LPL Financial LLC boosted its position in Extra Space Storage by 184.7% during the third quarter. LPL Financial LLC now owns 106,406 shares of the real estate investment trust’s stock worth $12,937,000 after purchasing an additional 69,029 shares in the last quarter. Cary Street Partners Investment Advisory LLC lifted its position in shares of Extra Space Storage by 608.0% during the 3rd quarter. Cary Street Partners Investment Advisory LLC now owns 708 shares of the real estate investment trust’s stock valued at $86,000 after buying an additional 608 shares in the last quarter. Natixis Advisors L.P. grew its stake in Extra Space Storage by 77.2% in the 3rd quarter. Natixis Advisors L.P. now owns 58,168 shares of the real estate investment trust’s stock valued at $7,072,000 after acquiring an additional 25,342 shares during the period. Profund Advisors LLC increased its holdings in Extra Space Storage by 50.5% in the 3rd quarter. Profund Advisors LLC now owns 3,123 shares of the real estate investment trust’s stock worth $380,000 after acquiring an additional 1,048 shares in the last quarter. Finally, O Shaughnessy Asset Management LLC acquired a new position in Extra Space Storage during the third quarter worth $439,000. 99.11% of the stock is owned by hedge funds and other institutional investors.

About Extra Space Storage

Extra Space Storage Inc, headquartered in Salt Lake City, Utah, is a self-administered and self-managed REIT and a member of the S&P 500. As of December 31, 2023, the Company owned and/or operated 3,714 self-storage stores in 42 states and Washington, DC The Company's stores comprise approximately 2.6 million units and approximately 283.0 million square feet of rentable space operating under the Extra Space, Life Storage and Storage Express brands.