Extra Space Storage Inc (NYSE:EXR) Receives Average Rating of “Hold” from Brokerages

Extra Space Storage Inc (NYSE:EXR) has been assigned a consensus rating of “Hold” from the sixteen research firms that are currently covering the firm, Marketbeat reports. Nine equities research analysts have rated the stock with a hold recommendation and seven have assigned a buy recommendation to the company. The average 1 year price target among analysts that have issued a report on the stock in the last year is $148.9333.

EXR has been the topic of a number of recent research reports. Wells Fargo & Company reduced their target price on shares of Extra Space Storage from $158.00 to $157.00 and set an “overweight” rating on the stock in a research report on Tuesday, September 1st. 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 target for the company. Mizuho dropped their price objective on shares of Extra Space Storage from $155.00 to $152.00 and set an “outperform” rating on the stock in a research note on Wednesday, September 2nd. BMO Capital Markets upgraded shares of Extra Space Storage from a “market perform” rating to an “outperform” rating and upped their price objective for the stock from $160.00 to $170.00 in a report on Thursday, August 27th. Finally, Scotiabank raised their target price on shares of Extra Space Storage from $157.00 to $158.00 and gave the company a “sector perform” rating in a research note on Tuesday, August 18th.

Extra Space Storage Trading Up 1.0%

NYSE EXR opened at $137.83 on Friday. The company has a quick ratio of 1.56, a current ratio of 1.56 and a debt-to-equity ratio of 0.96. Extra Space Storage has a twelve month low of $125.71 and a twelve month high of $158.88. The firm has a market capitalization of $29.12 billion, a PE ratio of 30.43, a P/E/G ratio of 3.95 and a beta of 1.16. The stock’s 50 day moving average is $145.46 and its 200 day moving average is $143.51.

Extra Space Storage (NYSE:EXR) last posted its quarterly earnings data on Tuesday, July 28th. The real estate investment trust reported $1.25 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.16 by $0.09. The business had revenue of $874.15 million during the quarter, compared to the consensus estimate of $874.99 million. Extra Space Storage had a return on equity of 6.70% and a net margin of 27.80%.The firm’s quarterly revenue was up 3.9% compared to the same quarter last year. During the same quarter in the prior year, the company earned $2.05 earnings per share. Extra Space Storage has set its FY 2026 guidance at 8.250-8.400 EPS. Research analysts forecast that Extra Space Storage will post 8.33 earnings per share for the current fiscal year.

Extra Space Storage Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, September 30th. Investors of record on Tuesday, September 15th will be paid a $1.62 dividend. The ex-dividend date is Tuesday, September 15th. This represents a $6.48 annualized dividend and a dividend yield of 4.7%. Extra Space Storage’s dividend payout ratio is presently 143.05%.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in EXR. NewEdge Advisors LLC increased its holdings in shares of Extra Space Storage by 9.3% during the first quarter. NewEdge Advisors LLC now owns 3,409 shares of the real estate investment trust’s stock valued at $506,000 after acquiring an additional 291 shares in the last quarter. Empowered Funds LLC boosted its stake in Extra Space Storage by 15.5% in the 1st quarter. Empowered Funds LLC now owns 4,912 shares of the real estate investment trust’s stock worth $729,000 after purchasing an additional 661 shares in the last quarter. Sivia Capital Partners LLC bought a new position in Extra Space Storage in the 2nd quarter worth about $457,000. First Trust Advisors LP boosted its stake in Extra Space Storage by 184.1% in the 2nd quarter. First Trust Advisors LP now owns 108,205 shares of the real estate investment trust’s stock worth $15,954,000 after purchasing an additional 70,115 shares in the last quarter. Finally, Brown Advisory Inc. grew its position in Extra Space Storage by 1.8% during the 2nd quarter. Brown Advisory Inc. now owns 4,431 shares of the real estate investment trust’s stock valued at $653,000 after purchasing an additional 80 shares during the last quarter. Institutional investors own 99.11% of the company’s stock.

Extra Space Storage Company Profile

Extra Space Storage Inc is a real estate investment trust (REIT) that owns, operates, manages and acquires self-storage facilities. Its properties provide individuals and businesses with rental storage units in a range of sizes, along with vehicle, boat and recreational vehicle storage at select locations.

The company also provides third-party management services for self-storage properties owned by other investors and operators. Its services generally include facility operations, marketing, customer support, revenue management and technology solutions.