Extra Space Storage (NYSE:EXR) Price Target Raised to $144.00

Extra Space Storage (NYSE:EXR) had its price objective raised by JPMorgan Chase & Co. from $142.00 to $144.00 in a research note issued to investors on Monday morning,Benzinga reports. They currently have a neutral rating on the real estate investment trust’s stock.

Several other equities analysts have also recently issued reports on the company. Wells Fargo & Company dropped their price target on Extra Space Storage from $160.00 to $150.00 and set an “overweight” rating on the stock in a research report on Thursday, February 5th. Mizuho increased their price objective on Extra Space Storage from $137.00 to $143.00 and gave the stock an “outperform” rating in a research report on Monday, January 12th. Truist Financial lifted their target price on Extra Space Storage from $142.00 to $146.00 and gave the company a “hold” rating in a research note on Tuesday, January 20th. BNP Paribas Exane raised Extra Space Storage from a “neutral” rating to an “outperform” rating and set a $154.00 target price on the stock in a report on Wednesday, March 18th. Finally, Barclays upped their price target on Extra Space Storage from $164.00 to $170.00 and gave the stock an “overweight” rating in a research note on Thursday, March 5th. Six equities research analysts have rated the stock with a Buy rating, nine have issued a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $143.80.

Extra Space Storage Stock Up 0.1%

EXR stock opened at $129.96 on Monday. The company has a market cap of $27.44 billion, a price-to-earnings ratio of 28.25, a price-to-earnings-growth ratio of 2.61 and a beta of 1.24. The company has a fifty day moving average price of $142.83 and a 200 day moving average price of $139.28. The company has a debt-to-equity ratio of 0.92, a current ratio of 0.39 and a quick ratio of 0.39. Extra Space Storage has a 12 month low of $121.03 and a 12 month high of $155.19.

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

Extra Space Storage Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, March 31st. Investors of record on Monday, March 16th will be given a $1.62 dividend. The ex-dividend date is Monday, March 16th. This represents a $6.48 dividend on an annualized basis and a yield of 5.0%. Extra Space Storage’s dividend payout ratio (DPR) is presently 140.87%.

Insiders Place Their Bets

In other Extra Space Storage news, CEO Joseph D. Margolis sold 7,500 shares of Extra Space Storage stock in a transaction that occurred on Friday, March 13th. The stock was sold at an average price of $142.08, for a total value of $1,065,600.00. Following the sale, the chief executive officer owned 66,495 shares of the company’s stock, valued at approximately $9,447,609.60. The trade was a 10.14% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 0.96% of the company’s stock.

Institutional Trading of Extra Space Storage

Several hedge funds have recently modified their holdings of the business. Vanguard Group Inc. raised its position in Extra Space Storage by 0.5% in the third quarter. Vanguard Group Inc. now owns 34,430,823 shares of the real estate investment trust’s stock worth $4,852,680,000 after acquiring an additional 161,171 shares in the last quarter. Cohen & Steers Inc. boosted its position in shares of Extra Space Storage by 13.4% during 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 purchasing an additional 1,888,763 shares in the last quarter. State Street Corp boosted its position in shares of 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 worth $1,960,599,000 after purchasing an additional 230,697 shares in the last quarter. Norges Bank acquired a new position in shares of Extra Space Storage during the 4th quarter worth $1,219,606,000. Finally, Capital World Investors grew its stake 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 worth $1,009,371,000 after purchasing an additional 33,622 shares during the period. 99.11% of the stock is owned by institutional investors and hedge funds.

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.