Extra Space Storage (NYSE:EXR) Stock Rating Upgraded by Raymond James Financial

Extra Space Storage (NYSE:EXR) was upgraded by analysts at Raymond James Financial to a “moderate buy” rating in a research report issued to clients and investors on Wednesday,Zacks.com reports.

Several other research analysts have also recently issued reports on EXR. Bank of America upgraded shares of Extra Space Storage from an “underperform” rating to a “neutral” rating and increased their price objective for the company from $147.00 to $156.00 in a report on Tuesday, June 16th. BNP Paribas Exane raised Extra Space Storage from a “neutral” rating to an “outperform” rating and set a $154.00 target price on the stock in a report on Wednesday, March 18th. Wells Fargo & Company upped their target price on Extra Space Storage from $148.00 to $154.00 and gave the stock an “overweight” rating in a research report on Monday, June 1st. Truist Financial increased their price target on Extra Space Storage from $140.00 to $148.00 and gave the company a “hold” rating in a research note on Wednesday, June 17th. Finally, UBS Group lifted their price target on Extra Space Storage from $158.00 to $163.00 and gave the company a “buy” rating in a research report on Friday, July 10th. Six analysts have rated the stock with a Buy rating and ten have issued a Hold rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $146.27.

Extra Space Storage Stock Performance

EXR stock opened at $150.16 on Wednesday. The company has a market capitalization of $31.72 billion, a P/E ratio of 33.67, a PEG ratio of 4.48 and a beta of 1.19. The company has a 50-day simple moving average of $145.21 and a 200 day simple moving average of $142.09. 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 quick ratio of 0.37, a current ratio of 0.37 and a debt-to-equity ratio of 0.93.

Extra Space Storage (NYSE:EXR) last released its earnings results on Tuesday, April 28th. The real estate investment trust reported $1.14 EPS for the quarter, missing the consensus estimate 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 company had revenue of $856.03 million for the quarter, compared to analyst estimates of $851.35 million. During the same period in the previous year, the business posted $2.00 EPS. The firm’s quarterly 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. Sell-side analysts predict that Extra Space Storage will post 8.26 earnings per share for the current fiscal year.

Insider Activity

In related news, EVP Gwyn Goodson Mcneal sold 3,300 shares of the business’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 sale, the executive vice president directly owned 37,374 shares in the company, valued at $5,606,100. The trade was a 8.11% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 0.96% of the stock is owned by corporate insiders.

Institutional Trading of Extra Space Storage

Large investors have recently added to or reduced their stakes in the business. Pensionfund Sabic bought a new stake in shares of Extra Space Storage during the 4th quarter worth $1,153,000. Nomura Asset Management Co. Ltd. raised its position in shares of Extra Space Storage by 2.5% during the fourth quarter. Nomura Asset Management Co. Ltd. now owns 391,044 shares of the real estate investment trust’s stock worth $50,922,000 after purchasing an additional 9,492 shares during the period. Bayhunt Capital LLC purchased a new stake in shares of Extra Space Storage during the fourth quarter valued at $14,650,000. Norges Bank purchased a new stake in shares of Extra Space Storage during the fourth quarter valued at $1,219,606,000. Finally, Manning & Napier Advisors LLC lifted its holdings in shares of Extra Space Storage by 3,007.7% during the fourth quarter. Manning & Napier Advisors LLC now owns 40,089 shares of the real estate investment trust’s stock valued at $5,220,000 after purchasing an additional 38,799 shares during the last quarter. 99.11% of the stock is currently owned by institutional investors.

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.