Extra Space Storage Inc (NYSE:EXR) Receives Consensus Rating of “Moderate Buy” from Brokerages

Shares of Extra Space Storage Inc (NYSE:EXR) have earned an average recommendation of “Moderate Buy” from the sixteen research firms that are currently covering the company, MarketBeat.com reports. Eight analysts have rated the stock with a hold rating and eight have given a buy rating to the company. The average 1 year target price among brokerages that have issued ratings on the stock in the last year is $149.40.

A number of equities analysts have weighed in on EXR shares. The Goldman Sachs Group reaffirmed a “neutral” rating and set a $160.00 price target on shares of Extra Space Storage in a research note on Thursday, July 30th. Scotiabank boosted their price objective 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. JPMorgan Chase & Co. dropped their price objective on Extra Space Storage from $157.00 to $153.00 and set a “neutral” rating for the company in a report on Monday, September 21st. Bank of America raised Extra Space Storage from an “underperform” rating to a “neutral” rating and increased their target price for the stock from $147.00 to $156.00 in a research report on Tuesday, June 16th. Finally, Weiss Ratings cut Extra Space Storage from a “hold (c+)” rating to a “hold (c)” rating in a report on Tuesday.

Hedge Funds Weigh In On Extra Space Storage

Hedge funds and other institutional investors have recently modified their holdings of the company. Rosenberg Matthew Hamilton increased its position in Extra Space Storage by 44.8% during the 3rd quarter. Rosenberg Matthew Hamilton now owns 705 shares of the real estate investment trust’s stock worth $93,000 after purchasing an additional 218 shares in the last quarter. Versant Capital Management Inc lifted its position in Extra Space Storage by 43.4% during the third quarter. Versant Capital Management Inc now owns 1,245 shares of the real estate investment trust’s stock valued at $164,000 after buying an additional 377 shares in the last quarter. QRG Capital Management Inc. lifted its position in Extra Space Storage by 17.2% during the second quarter. QRG Capital Management Inc. now owns 3,377 shares of the real estate investment trust’s stock valued at $491,000 after buying an additional 495 shares in the last quarter. Security National Bank of SO Dak purchased a new stake in Extra Space Storage during the second quarter worth approximately $34,000. Finally, Van Hulzen Asset Management LLC grew its stake in Extra Space Storage by 2.8% during the second quarter. Van Hulzen Asset Management LLC now owns 3,630 shares of the real estate investment trust’s stock worth $527,000 after buying an additional 100 shares during the period. 99.11% of the stock is owned by institutional investors and hedge funds.

Extra Space Storage Trading Down 1.6%

NYSE EXR opened at $131.70 on Thursday. The company has a market cap of $27.82 billion, a P/E ratio of 29.07, a P/E/G ratio of 3.97 and a beta of 1.15. Extra Space Storage has a 12 month low of $125.71 and a 12 month high of $158.88. The company has a debt-to-equity ratio of 0.96, a current ratio of 1.56 and a quick ratio of 1.56. The company has a 50-day moving average of $141.05 and a 200-day moving average of $142.16.

Extra Space Storage (NYSE:EXR) last released its earnings results on Tuesday, July 28th. The real estate investment trust reported $1.25 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.16 by $0.09. Extra Space Storage had a net margin of 27.80% and a return on equity of 6.70%. The business had revenue of $874.15 million for the quarter, compared to analysts’ expectations of $874.99 million. During the same period last year, the company earned $2.05 earnings per share. The company’s quarterly revenue was up 3.9% on a year-over-year basis. Extra Space Storage has set its FY 2026 guidance at 8.250-8.400 EPS. As a group, equities analysts predict that Extra Space Storage will post 8.34 earnings per share for the current year.

Extra Space Storage Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, September 30th. Stockholders of record on Tuesday, September 15th were issued a $1.62 dividend. This represents a $6.48 dividend on an annualized basis and a dividend yield of 4.9%. The ex-dividend date was Tuesday, September 15th. Extra Space Storage’s dividend payout ratio (DPR) is 143.05%.

Extra Space Storage Company Profile

Extra Space Storage Inc is a real estate investment trust (REIT) that owns, operates, manages and develops self-storage facilities. Its properties provide personal and business customers with space for storing household goods, vehicles, business inventory and other belongings in a range of unit sizes. Many facilities offer features such as climate-controlled units, drive-up access, online rentals and electronic payments.

The company also provides third-party management services for self-storage properties owned by other investors and participates in joint ventures.