Extra Space Storage (NYSE:EXR) Price Target Increased to $175.00 by Analysts at Raymond James

Extra Space Storage (NYSE:EXR) had its target price boosted by research analysts at Raymond James from $160.00 to $175.00 in a report issued on Tuesday, Benzinga reports. The brokerage currently has an “outperform” rating on the real estate investment trust’s stock. Raymond James’ price target would suggest a potential upside of 5.41% from the stock’s current price.

EXR has been the topic of several other reports. Citigroup reduced their price target on Extra Space Storage from $168.00 to $160.00 and set a “neutral” rating on the stock in a report on Friday, June 7th. Scotiabank increased their price objective on Extra Space Storage from $140.00 to $159.00 and gave the company a “sector underperform” rating in a report on Friday. Wells Fargo & Company raised their target price on Extra Space Storage from $150.00 to $160.00 and gave the stock an “overweight” rating in a research report on Friday, April 5th. Evercore ISI increased their price target on Extra Space Storage from $140.00 to $151.00 and gave the company an “in-line” rating in a research note on Monday, July 15th. Finally, Barclays lifted their price objective on Extra Space Storage from $157.00 to $158.00 and gave the stock an “overweight” rating in a research note on Monday, May 20th. Two research analysts have rated the stock with a sell rating, six have given a hold rating and five have assigned a buy rating to the company’s stock. Based on data from MarketBeat, Extra Space Storage has an average rating of “Hold” and a consensus price target of $156.42.

Extra Space Storage Price Performance

EXR traded up $0.25 during trading on Tuesday, hitting $166.02. 374,158 shares of the stock traded hands, compared to its average volume of 1,075,169. The business has a 50 day moving average price of $153.39 and a 200 day moving average price of $147.07. The company has a market cap of $35.15 billion, a price-to-earnings ratio of 36.98, a PEG ratio of 3.46 and a beta of 0.83. Extra Space Storage has a twelve month low of $101.19 and a twelve month high of $171.46. The company has a debt-to-equity ratio of 0.73, a current ratio of 0.15 and a quick ratio of 0.15.

Insiders Place Their Bets

In other Extra Space Storage news, CEO Joseph D. Margolis sold 7,500 shares of the firm’s stock in a transaction dated Monday, July 1st. The stock was sold at an average price of $152.58, for a total transaction of $1,144,350.00. Following the sale, the chief executive officer now owns 31,690 shares in the company, valued at $4,835,260.20. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In other Extra Space Storage news, Director Joseph J. Bonner sold 677 shares of the stock in a transaction 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 completion of the sale, the director now owns 5,229 shares of the company’s stock, valued at approximately $775,042.38. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CEO Joseph D. Margolis sold 7,500 shares of the business’s stock in a transaction dated Monday, July 1st. The shares were sold at an average price of $152.58, for a total transaction of $1,144,350.00. Following the completion of the transaction, the chief executive officer now owns 31,690 shares in the company, valued at approximately $4,835,260.20. The disclosure for this sale can be found here. Corporate insiders own 1.36% of the company’s stock.

Institutional Trading of Extra Space Storage

Large investors have recently modified their holdings of the business. Norges Bank bought a new position in shares of Extra Space Storage during the fourth quarter valued at approximately $1,022,811,000. Boston Partners purchased a new stake in Extra Space Storage in the first quarter worth $130,554,000. Capital Research Global Investors lifted its position in Extra Space Storage by 111.4% during the 4th 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 acquiring an additional 810,158 shares during the period. Principal Financial Group Inc. grew its holdings in Extra Space Storage by 8.9% in the fourth quarter. Principal Financial Group Inc. now owns 7,083,752 shares of the real estate investment trust’s stock worth $1,135,738,000 after purchasing an additional 577,918 shares during the period. Finally, Janus Henderson Group PLC grew its stake in shares of Extra Space Storage by 2,244.2% in the 1st quarter. Janus Henderson Group PLC now owns 597,729 shares of the real estate investment trust’s stock worth $87,824,000 after buying an additional 572,231 shares during the last quarter. 99.11% of the stock is owned by institutional investors.

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.