Brokerages Set Extra Space Storage Inc (NYSE:EXR) Target Price at $146.27

Shares of Extra Space Storage Inc (NYSE:EXR) have been assigned a consensus rating of “Hold” from the sixteen ratings firms that are presently covering the firm, MarketBeat reports. Ten analysts have rated the stock with a hold recommendation and six have issued a buy recommendation on the company. The average 1-year price objective among brokers that have updated their coverage on the stock in the last year is $146.2667.

EXR has been the topic of several analyst reports. Wall Street Zen upgraded Extra Space Storage from a “sell” rating to a “hold” rating in a report on Saturday, July 18th. UBS Group raised their price objective on shares of Extra Space Storage from $158.00 to $163.00 and gave the stock a “buy” rating in a research report on Friday, July 10th. Raymond James Financial initiated coverage on shares of Extra Space Storage in a research report on Thursday, July 16th. They set an “outperform” rating and a $44.00 price objective for the company. Wells Fargo & Company lifted 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 note on Monday, June 1st. Finally, Barclays boosted their target price on shares of Extra Space Storage from $170.00 to $172.00 and gave the company an “overweight” rating in a report on Friday, July 10th.

Insiders Place Their Bets

In other Extra Space Storage news, EVP Gwyn Goodson Mcneal sold 3,300 shares of the firm’s stock in a transaction on Thursday, June 11th. The stock was sold at an average price of $150.00, for a total transaction of $495,000.00. Following the completion of the sale, the executive vice president owned 37,374 shares of the company’s stock, valued at $5,606,100. This trade represents a 8.11% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 0.96% of the company’s stock.

Hedge Funds Weigh In On Extra Space Storage

Hedge funds have recently modified their holdings of the business. Norges Bank acquired a new stake in shares of Extra Space Storage during the fourth quarter valued at about $1,219,606,000. Capital International Investors lifted its holdings in shares of Extra Space Storage by 73.9% in the 4th quarter. Capital International Investors now owns 6,256,687 shares of the real estate investment trust’s stock worth $814,746,000 after acquiring an additional 2,658,947 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its holdings in shares of Extra Space Storage by 900.0% in the 3rd quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 2,187,795 shares of the real estate investment trust’s stock worth $308,348,000 after acquiring an additional 1,969,013 shares during the last quarter. Cohen & Steers Inc. boosted its position in shares of Extra Space Storage by 13.4% during the 4th quarter. Cohen & Steers Inc. now owns 15,979,424 shares of the real estate investment trust’s stock worth $2,080,971,000 after purchasing an additional 1,888,763 shares during the period. Finally, Resolution Capital Ltd boosted its position in shares of Extra Space Storage by 116.2% during the 2nd quarter. Resolution Capital Ltd now owns 1,950,842 shares of the real estate investment trust’s stock worth $287,632,000 after purchasing an additional 1,048,685 shares during the period. 99.11% of the stock is currently owned by hedge funds and other institutional investors.

Extra Space Storage Price Performance

EXR stock opened at $145.18 on Friday. The company has a debt-to-equity ratio of 0.93, a current ratio of 0.37 and a quick ratio of 0.37. The business has a 50 day simple moving average of $145.43 and a 200-day simple moving average of $142.53. The firm has a market capitalization of $30.67 billion, a PE ratio of 32.55, a price-to-earnings-growth ratio of 4.50 and a beta of 1.19. Extra Space Storage has a 1 year low of $125.71 and a 1 year high of $155.19.

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

Extra Space Storage Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Tuesday, June 30th. Stockholders of record on Monday, June 15th were given a dividend of $1.62 per share. This represents a $6.48 annualized dividend and a dividend yield of 4.5%. The ex-dividend date of this dividend was Monday, June 15th. Extra Space Storage’s payout ratio is presently 145.29%.

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.