Extra Space Storage (NYSE:EXR) Upgraded at BNP Paribas Exane

BNP Paribas Exane upgraded shares of Extra Space Storage (NYSE:EXR) from a neutral rating to an outperform rating in a research report released on Wednesday, Marketbeat reports. The brokerage currently has $154.00 price target on the real estate investment trust’s stock.

A number of other equities analysts also recently commented on the stock. Royal Bank Of Canada raised their target price on shares of Extra Space Storage from $142.00 to $153.00 and gave the stock a “sector perform” rating in a research report on Monday, February 23rd. Mizuho boosted their price target on Extra Space Storage from $137.00 to $143.00 and gave the company an “outperform” rating in a report on Monday, January 12th. Bank of America cut Extra Space Storage from a “neutral” rating to an “underperform” rating and set a $143.00 price objective on the stock. in a research note on Thursday, February 5th. Barclays raised their price objective on Extra Space Storage from $164.00 to $170.00 and gave the stock an “overweight” rating in a report on Thursday, March 5th. Finally, Scotiabank lifted their target price on Extra Space Storage from $145.00 to $156.00 and gave the company a “sector perform” rating in a research report on Monday, March 2nd. Six research analysts have rated the stock with a Buy rating, nine have assigned a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat, Extra Space Storage has a consensus rating of “Hold” and a consensus target price of $145.00.

Extra Space Storage Stock Down 4.1%

NYSE:EXR opened at $130.35 on Wednesday. The company has a market cap of $27.52 billion, a price-to-earnings ratio of 28.34, a price-to-earnings-growth ratio of 2.74 and a beta of 1.24. Extra Space Storage has a twelve month low of $121.03 and a twelve month high of $155.19. The company has a current ratio of 0.39, a quick ratio of 0.39 and a debt-to-equity ratio of 0.92. The stock has a fifty day simple moving average of $143.51 and a 200-day simple moving average of $139.59.

Extra Space Storage (NYSE:EXR) last posted its quarterly earnings results on Thursday, February 19th. The real estate investment trust reported $2.08 EPS for the quarter, topping analysts’ consensus estimates of $2.03 by $0.05. Extra Space Storage had a net margin of 28.84% and a return on equity of 6.79%. The firm had revenue of $857.47 million for the quarter, compared to analysts’ expectations of $732.92 million. During the same period in the prior year, the business posted $2.03 earnings per share. The business’s revenue for the quarter was up 4.3% on a year-over-year basis. Extra Space Storage has set its FY 2026 guidance at 8.050-8.350 EPS. Analysts anticipate that Extra Space Storage will post 8.1 EPS for the current year.

Extra Space Storage Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, March 31st. Stockholders of record on Monday, March 16th will be issued a $1.62 dividend. The ex-dividend date is Monday, March 16th. This represents a $6.48 dividend on an annualized basis and a dividend yield of 5.0%. Extra Space Storage’s dividend payout ratio (DPR) is currently 140.87%.

Insider Activity at Extra Space Storage

In other news, CEO Joseph D. Margolis sold 7,500 shares of the business’s stock in a transaction on Friday, March 13th. The stock was sold at an average price of $142.08, for a total value of $1,065,600.00. Following the completion of the transaction, the chief executive officer directly owned 66,495 shares of the company’s stock, valued at approximately $9,447,609.60. The trade was a 10.14% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders own 0.96% of the company’s stock.

Hedge Funds Weigh In On Extra Space Storage

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Avalon Trust Co bought a new stake in shares of Extra Space Storage in the 3rd quarter valued at about $28,000. Caitong International Asset Management Co. Ltd bought a new position in shares of Extra Space Storage during the 3rd quarter worth approximately $28,000. Reflection Asset Management bought a new position in shares of Extra Space Storage during the 4th quarter worth approximately $26,000. Versant Capital Management Inc lifted its position in Extra Space Storage by 60.2% during the third quarter. Versant Capital Management Inc now owns 213 shares of the real estate investment trust’s stock valued at $30,000 after acquiring an additional 80 shares during the last quarter. Finally, Davis Capital Management purchased a new stake in Extra Space Storage during the third quarter valued at approximately $35,000. Hedge funds and other institutional investors 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.