Extra Space Storage Inc. (NYSE:EXR) Given Average Recommendation of “Hold” by Analysts

Shares of Extra Space Storage Inc. (NYSE:EXR – Get Rating) have been assigned a consensus rating of “Hold” from the eleven ratings firms that are covering the stock, Marketbeat reports. Two equities research analysts have rated the stock with a sell rating, six have given a hold rating and three have issued a buy rating on the company. The average 1-year price target among brokers that have covered the stock in the last year is $170.33.

A number of research firms recently weighed in on EXR. Wolfe Research lowered shares of Extra Space Storage from an “outperform” rating to a “peer perform” rating in a report on Wednesday, January 18th. They noted that the move was a valuation call. Truist Financial downgraded shares of Extra Space Storage from a “buy” rating to a “hold” rating and reduced their target price for the company from $175.00 to $160.00 in a research report on Tuesday, January 17th. StockNews.com assumed coverage on shares of Extra Space Storage in a report on Wednesday, October 12th. They issued a “hold” rating for the company. Citigroup cut their price objective on shares of Extra Space Storage from $175.00 to $170.00 and set a “neutral” rating for the company in a report on Monday, December 12th. Finally, Morgan Stanley cut their price target on shares of Extra Space Storage from $153.00 to $145.00 and set an “underweight” rating for the company in a report on Wednesday, December 14th.

Hedge Funds Weigh In On Extra Space Storage

A number of large investors have recently added to or reduced their stakes in EXR. Private Advisor Group LLC raised its position in Extra Space Storage by 5.6% in the 1st quarter. Private Advisor Group LLC now owns 1,404 shares of the real estate investment trust’s stock worth $289,000 after purchasing an additional 74 shares during the period. Blair William & Co. IL increased its position in shares of Extra Space Storage by 16.5% in the first quarter. Blair William & Co. IL now owns 1,502 shares of the real estate investment trust’s stock valued at $309,000 after acquiring an additional 213 shares during the period. Prudential PLC purchased a new position in shares of Extra Space Storage in the first quarter valued at about $625,000. Cetera Investment Advisers increased its position in shares of Extra Space Storage by 8.2% in the first quarter. Cetera Investment Advisers now owns 2,522 shares of the real estate investment trust’s stock valued at $519,000 after acquiring an additional 192 shares during the period. Finally, Dakota Wealth Management purchased a new position in shares of Extra Space Storage in the first quarter valued at about $332,000. Hedge funds and other institutional investors own 95.32% of the company’s stock.

Extra Space Storage Trading Up 0.5 %

EXR opened at $152.09 on Friday. The company has a debt-to-equity ratio of 1.72, a current ratio of 0.49 and a quick ratio of 0.49. Extra Space Storage has a fifty-two week low of $139.97 and a fifty-two week high of $222.35. The firm has a market capitalization of $20.37 billion, a PE ratio of 22.07, a P/E/G ratio of 2.07 and a beta of 0.51. The company’s 50-day moving average is $152.07 and its 200 day moving average is $171.43.

Extra Space Storage Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, December 30th. Investors of record on Wednesday, December 14th were given a $1.50 dividend. This represents a $6.00 dividend on an annualized basis and a yield of 3.95%. The ex-dividend date of this dividend was Tuesday, December 13th. Extra Space Storage’s payout ratio is presently 87.08%.

Extra Space Storage Company Profile

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Extra Space Storage, Inc is a real estate investment trust. It operates through the following segments: Self-Storage Operations and Tenant Reinsurance. The Self-Storage Operations segment includes rental operations of wholly-owned stores. The Tenant Reinsurance segment includes reinsurance of risks relating to the loss of goods stored by tenants in stores.