Wall Street Zen Upgrades Extra Space Storage (NYSE:EXR) to Hold

Extra Space Storage (NYSE:EXR) was upgraded by equities researchers at Wall Street Zen from a “sell” rating to a “hold” rating in a research report issued on Saturday.

A number of other equities research analysts have also recently commented on EXR. Weiss Ratings reiterated a “hold (c)” rating on shares of Extra Space Storage in a report on Tuesday, April 21st. UBS Group boosted their price objective on shares of Extra Space Storage from $158.00 to $163.00 and gave the company a “buy” rating in a research report on Friday, July 10th. JPMorgan Chase & Co. upped their price objective on shares of Extra Space Storage from $142.00 to $144.00 and gave the company a “neutral” rating in a research note on Monday, March 23rd. Wells Fargo & Company raised their target price on shares of Extra Space Storage from $148.00 to $154.00 and gave the stock an “overweight” rating in a research report on Monday, June 1st. Finally, Bank of America raised shares of Extra Space Storage from an “underperform” rating to a “neutral” rating and lifted their target price for the stock from $147.00 to $156.00 in a research note on Tuesday, June 16th. Six equities research analysts have rated the stock with a Buy rating and ten have given a Hold rating to the company’s stock. According to MarketBeat, Extra Space Storage has a consensus rating of “Hold” and an average price target of $146.27.

Extra Space Storage Price Performance

Extra Space Storage stock opened at $148.38 on Friday. Extra Space Storage has a 52 week low of $125.71 and a 52 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. The firm’s 50-day simple moving average is $145.31 and its 200 day simple moving average is $142.21. The firm has a market capitalization of $31.35 billion, a PE ratio of 33.27, a P/E/G ratio of 4.59 and a beta of 1.19.

Extra Space Storage (NYSE:EXR) last posted its earnings results on Tuesday, April 28th. The real estate investment trust reported $1.14 earnings per share for the quarter, missing the consensus estimate of $2.01 by ($0.87). The business had revenue of $856.03 million for the quarter, compared to analysts’ expectations of $851.35 million. Extra Space Storage had a net margin of 27.66% and a return on equity of 6.65%. The business’s revenue was up 4.4% compared to the same quarter last year. During the same quarter last year, the business posted $2.00 earnings per share. Extra Space Storage has set its FY 2026 guidance at 8.050-8.350 EPS. On average, equities research analysts predict that Extra Space Storage will post 8.26 EPS for the current fiscal year.

Insider Activity at Extra Space Storage

In other news, EVP Gwyn Goodson Mcneal sold 3,300 shares of the company’s stock in a transaction dated Thursday, June 11th. The shares were sold at an average price of $150.00, for a total transaction of $495,000.00. Following the completion of the transaction, the executive vice president owned 37,374 shares of the company’s stock, valued at $5,606,100. This represents a 8.11% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. 0.96% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Extra Space Storage

Several hedge funds have recently modified their holdings of EXR. Pensionfund Sabic acquired a new position in Extra Space Storage in the fourth quarter valued at $1,153,000. Nomura Asset Management Co. Ltd. grew its position in 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 valued at $50,922,000 after acquiring an additional 9,492 shares during the period. Bayhunt Capital LLC acquired a new stake in Extra Space Storage during the fourth quarter worth about $14,650,000. Norges Bank purchased a new position in shares of Extra Space Storage in the 4th quarter worth about $1,219,606,000. Finally, Manning & Napier Advisors LLC raised its holdings in shares of Extra Space Storage by 3,007.7% in the 4th quarter. Manning & Napier Advisors LLC now owns 40,089 shares of the real estate investment trust’s stock worth $5,220,000 after purchasing an additional 38,799 shares during the period. 99.11% of the stock is owned by institutional investors and hedge funds.

About Extra Space Storage

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.