Barclays Forecasts Strong Price Appreciation for Extra Space Storage (NYSE:EXR) Stock

Extra Space Storage (NYSE:EXR) had its target price hoisted by stock analysts at Barclays from $164.00 to $170.00 in a research report issued on Thursday,Benzinga reports. The firm currently has an “overweight” rating on the real estate investment trust’s stock. Barclays‘s price target would indicate a potential upside of 16.12% from the stock’s current price.

A number of other equities research analysts have also recently issued reports on EXR. Morgan Stanley lowered their target price on shares of Extra Space Storage from $155.00 to $152.00 and set an “equal weight” rating on the stock in a report on Friday, December 5th. Mizuho raised their price target on Extra Space Storage from $137.00 to $143.00 and gave the stock an “outperform” rating in a report on Monday, January 12th. Royal Bank Of Canada lifted their price target on Extra Space Storage from $142.00 to $153.00 and gave the company a “sector perform” rating in a research report on Monday, February 23rd. Wells Fargo & Company decreased their price objective on Extra Space Storage from $160.00 to $150.00 and set an “overweight” rating on the stock in a research note on Thursday, February 5th. Finally, UBS Group dropped their price objective on Extra Space Storage from $156.00 to $148.00 and set a “buy” rating on the stock in a report on Thursday, January 8th. Five analysts have rated the stock with a Buy rating, ten have given a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, Extra Space Storage currently has an average rating of “Hold” and a consensus price target of $145.13.

Extra Space Storage Price Performance

EXR opened at $146.40 on Thursday. The company has a market capitalization of $30.91 billion, a price-to-earnings ratio of 31.83, a PEG ratio of 2.97 and a beta of 1.24. The company has a quick ratio of 0.39, a current ratio of 0.39 and a debt-to-equity ratio of 0.92. The firm has a 50-day moving average price of $142.19 and a 200-day moving average price of $139.71. Extra Space Storage has a twelve month low of $121.03 and a twelve month high of $160.58.

Extra Space Storage (NYSE:EXR) last posted its quarterly earnings results on Thursday, February 19th. The real estate investment trust reported $2.08 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.03 by $0.05. The company had revenue of $857.47 million for the quarter, compared to analyst estimates of $732.92 million. Extra Space Storage had a net margin of 28.84% and a return on equity of 6.79%. The company’s quarterly revenue was up 4.3% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $2.03 earnings per share. Extra Space Storage has set its FY 2026 guidance at 8.050-8.350 EPS. Equities analysts expect that Extra Space Storage will post 8.1 EPS for the current year.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the company. Vanguard Group Inc. boosted its stake in Extra Space Storage by 0.5% during the third quarter. Vanguard Group Inc. now owns 34,430,823 shares of the real estate investment trust’s stock valued at $4,852,680,000 after buying an additional 161,171 shares during the period. Cohen & Steers Inc. increased its stake in Extra Space Storage by 13.4% in the 4th 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 raised its holdings in shares of Extra Space Storage by 1.7% in 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 acquiring an additional 230,697 shares in the last quarter. Norges Bank purchased a new stake in shares of Extra Space Storage in the 4th quarter valued at about $1,219,606,000. Finally, Capital World Investors boosted its position in shares of Extra Space Storage by 0.5% during the 3rd quarter. Capital World Investors now owns 7,161,360 shares of the real estate investment trust’s stock valued at $1,009,371,000 after acquiring an additional 33,622 shares during the last quarter. Institutional investors own 99.11% of the company’s stock.

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.