Extra Space Storage (NYSE:EXR) Coverage Initiated by Analysts at Raymond James Financial

Investment analysts at Raymond James Financial assumed coverage on shares of Extra Space Storage (NYSE:EXR) in a note issued to investors on Thursday. The firm set an “outperform” rating and a $44.00 price target on the real estate investment trust’s stock. Raymond James Financial’s price objective would indicate a potential downside of 70.07% from the company’s current price.

Other research analysts also recently issued reports about the stock. Wall Street Zen downgraded shares of Extra Space Storage from a “hold” rating to a “sell” rating in a research report on Saturday, June 13th. Wells Fargo & Company upped 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. BNP Paribas Exane raised Extra Space Storage from a “neutral” rating to an “outperform” rating and set a $154.00 target price for the company in a research note on Wednesday, March 18th. UBS Group upped their price target on shares of Extra Space Storage from $158.00 to $163.00 and gave the company a “buy” rating in a report on Friday, July 10th. Finally, Barclays upped their price objective on shares of Extra Space Storage from $170.00 to $172.00 and gave the company an “overweight” rating in a research note on Friday, July 10th. Six research analysts have rated the stock with a Buy rating and ten have assigned a Hold rating to the company. According to data from MarketBeat, the company has an average rating of “Hold” and an average target price of $146.27.

Extra Space Storage Price Performance

NYSE:EXR traded up $1.52 during trading hours on Thursday, reaching $147.02. 16,588 shares of the company were exchanged, compared to its average volume of 1,248,701. The business has a 50 day moving average of $145.07 and a 200 day moving average of $141.95. The company has a debt-to-equity ratio of 0.93, a current ratio of 0.37 and a quick ratio of 0.37. Extra Space Storage has a 1-year low of $125.71 and a 1-year high of $155.19. The company has a market capitalization of $31.06 billion, a P/E ratio of 33.02, a P/E/G ratio of 4.51 and a beta of 1.19.

Extra Space Storage (NYSE:EXR) last issued its quarterly earnings results 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). Extra Space Storage had a return on equity of 6.65% and a net margin of 27.66%.The business had revenue of $856.03 million for the quarter, compared to analyst estimates of $851.35 million. During the same quarter last year, the firm posted $2.00 EPS. Extra Space Storage’s revenue for the quarter 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. Research analysts forecast that Extra Space Storage will post 8.26 EPS for the current year.

Insider Buying and Selling at Extra Space Storage

In other Extra Space Storage news, EVP Gwyn Goodson Mcneal sold 3,300 shares of the stock in a transaction on Thursday, June 11th. The stock was sold at an average price of $150.00, for a total value of $495,000.00. Following the completion of the transaction, the executive vice president owned 37,374 shares in the company, valued at approximately $5,606,100. This represents a 8.11% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 0.96% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in EXR. Cohen & Steers Inc. grew its stake in shares of Extra Space Storage by 13.4% in the fourth quarter. Cohen & Steers Inc. now owns 15,979,424 shares of the real estate investment trust’s stock worth $2,080,971,000 after acquiring an additional 1,888,763 shares during the last quarter. State Street Corp grew its position in Extra Space Storage by 1.7% during the 3rd quarter. State Street Corp now owns 13,910,878 shares of the real estate investment trust’s stock valued at $1,960,599,000 after purchasing an additional 230,697 shares during the last quarter. Norges Bank bought a new stake in Extra Space Storage during the 4th quarter valued at about $1,219,606,000. Capital International Investors raised its holdings in Extra Space Storage by 73.9% in the fourth quarter. Capital International Investors now owns 6,256,687 shares of the real estate investment trust’s stock worth $814,746,000 after buying an additional 2,658,947 shares during the last quarter. Finally, Geode Capital Management LLC lifted its stake in shares of Extra Space Storage by 1.0% in the fourth quarter. Geode Capital Management LLC now owns 5,945,315 shares of the real estate investment trust’s stock worth $771,397,000 after buying an additional 56,118 shares in the last quarter. Institutional investors own 99.11% of the company’s stock.

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.