Scotiabank Issues Positive Forecast for Extra Space Storage (NYSE:EXR) Stock Price

Extra Space Storage (NYSE:EXR) had its price objective raised by Scotiabank from $145.00 to $156.00 in a research report sent to investors on Monday morning,Benzinga reports. Scotiabank currently has a sector perform rating on the real estate investment trust’s stock.

Several other analysts also recently weighed in on EXR. Weiss Ratings restated a “hold (c)” rating on shares of Extra Space Storage in a research note on Thursday, January 22nd. Barclays restated an “overweight” rating and set a $164.00 price objective on shares of Extra Space Storage in a research note on Tuesday, January 13th. Bank of America lowered Extra Space Storage from a “neutral” rating to an “underperform” rating and set a $143.00 target price on the stock. in a research report on Thursday, February 5th. Royal Bank Of Canada increased their target price on Extra Space Storage from $142.00 to $153.00 and gave the company a “sector perform” rating in a research note on Monday, February 23rd. Finally, Truist Financial lifted their price target on shares of Extra Space Storage from $142.00 to $146.00 and gave the stock a “hold” rating in a research note on Tuesday, January 20th. Five equities research analysts have rated the stock with a Buy rating, ten have assigned a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, Extra Space Storage currently has an average rating of “Hold” and a consensus price target of $144.73.

Extra Space Storage Stock Up 1.1%

NYSE EXR opened at $152.75 on Monday. The company has a quick ratio of 0.39, a current ratio of 0.39 and a debt-to-equity ratio of 0.92. Extra Space Storage has a fifty-two week low of $121.03 and a fifty-two week high of $160.58. The business has a 50 day moving average price of $140.73 and a two-hundred day moving average price of $139.42. The stock has a market cap of $32.25 billion, a PE ratio of 33.21, a P/E/G ratio of 3.04 and a beta of 1.24.

Extra Space Storage (NYSE:EXR) last posted its 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. The business had revenue of $857.47 million for the quarter, compared to analysts’ expectations of $732.92 million. Extra Space Storage had a net margin of 28.84% and a return on equity of 6.79%. The business’s revenue for the quarter was up 4.3% compared to the same quarter last year. During the same period in the previous year, the company posted $2.03 earnings per share. Extra Space Storage has set its FY 2026 guidance at 8.050-8.350 EPS. As a group, sell-side analysts predict that Extra Space Storage will post 8.1 EPS for the current fiscal year.

Extra Space Storage Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, March 31st. Investors of record on Monday, March 16th will be issued a $1.62 dividend. The ex-dividend date of this dividend is Monday, March 16th. This represents a $6.48 annualized dividend and a yield of 4.2%. Extra Space Storage’s dividend payout ratio is presently 140.87%.

Institutional Trading of Extra Space Storage

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. NewEdge Advisors LLC boosted its holdings in shares of Extra Space Storage by 9.3% in 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 lifted its position in Extra Space Storage by 15.5% in the first 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 during the period. Sivia Capital Partners LLC bought a new position in Extra Space Storage during the 2nd quarter valued at $457,000. Assetmark Inc. increased its position in shares of Extra Space Storage by 7.9% during the 2nd quarter. Assetmark Inc. now owns 7,312 shares of the real estate investment trust’s stock valued at $1,078,000 after purchasing an additional 537 shares during the period. Finally, Plato Investment Management Ltd increased its position in shares of Extra Space Storage by 1,062.8% during the 2nd quarter. Plato Investment Management Ltd now owns 1,093 shares of the real estate investment trust’s stock valued at $161,000 after purchasing an additional 999 shares during the period. 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.