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

Shares of Extra Space Storage Inc. (NYSE:EXR) have been given an average rating of “Hold” by the twelve brokerages that are currently covering the stock, MarketBeat Ratings reports. One equities research analyst has rated the stock with a sell rating, six have given a hold rating and five have assigned a buy rating to the company. The average 1 year price objective among brokers that have issued ratings on the stock in the last year is $151.83.

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

Extra Space Storage Stock Performance

Shares of NYSE EXR opened at $153.72 on Friday. Extra Space Storage has a one year low of $101.19 and a one year high of $164.99. The company has a current ratio of 0.15, a quick ratio of 0.15 and a debt-to-equity ratio of 0.73. The business has a fifty day simple moving average of $147.87 and a 200 day simple moving average of $146.88. The firm has a market capitalization of $32.55 billion, a price-to-earnings ratio of 34.24, a PEG ratio of 3.73 and a beta of 0.83.

Extra Space Storage Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, June 28th. Stockholders of record on Friday, June 14th were given a dividend of $1.62 per share. The ex-dividend date was Friday, June 14th. This represents a $6.48 dividend on an annualized basis and a dividend yield of 4.22%. Extra Space Storage’s payout ratio is currently 144.32%.

Insider Activity

In other Extra Space Storage news, Director Joseph J. Bonner sold 677 shares of the business’s stock in a transaction dated Friday, June 7th. The stock was sold at an average price of $148.22, for a total transaction of $100,344.94. Following the completion of the sale, the director now directly owns 5,229 shares of the company’s stock, valued at approximately $775,042.38. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 1.36% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the stock. Vanguard Group Inc. increased its holdings in Extra Space Storage by 55.7% in the third quarter. Vanguard Group Inc. now owns 33,686,341 shares of the real estate investment trust’s stock valued at $4,095,585,000 after purchasing an additional 12,055,172 shares during the last quarter. Norges Bank acquired a new stake in shares of Extra Space Storage in the 4th quarter valued at approximately $1,022,811,000. JPMorgan Chase & Co. boosted its stake in Extra Space Storage by 599.8% during the 3rd quarter. JPMorgan Chase & Co. now owns 3,345,787 shares of the real estate investment trust’s stock worth $406,781,000 after acquiring an additional 2,867,657 shares during the last quarter. Boston Partners acquired a new position in Extra Space Storage during the first quarter valued at approximately $130,554,000. Finally, Capital Research Global Investors increased its stake in Extra Space Storage by 111.4% in the fourth quarter. Capital Research Global Investors now owns 1,537,317 shares of the real estate investment trust’s stock valued at $246,478,000 after purchasing an additional 810,158 shares in the last quarter. Institutional investors and hedge funds own 99.11% of the company’s stock.

Extra Space Storage Company Profile

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.