Brokerages Set Extra Space Storage Inc (NYSE:EXR) Price Target at $153.07

Shares of Extra Space Storage Inc (NYSE:EXR) have been given a consensus recommendation of “Hold” by the fifteen brokerages that are currently covering the company, Marketbeat.com reports. Ten equities research analysts have rated the stock with a hold rating and five have issued a buy rating on the company. The average 1 year price objective among analysts that have covered the stock in the last year is $153.0714.

A number of research analysts recently issued reports on EXR shares. BNP Paribas Exane upgraded shares of Extra Space Storage from a “neutral” rating to an “outperform” rating and set a $154.00 price target for the company in a research note on Wednesday, March 18th. Truist Financial lifted their price target on shares of Extra Space Storage from $140.00 to $148.00 and gave the stock a “hold” rating in a research note on Wednesday, June 17th. Wells Fargo & Company lifted their price target on shares of Extra Space Storage from $148.00 to $154.00 and gave the stock an “overweight” rating in a research note on Monday, June 1st. Weiss Ratings reiterated a “hold (c)” rating on shares of Extra Space Storage in a research note on Tuesday, April 21st. Finally, JPMorgan Chase & Co. lifted their price target on shares of Extra Space Storage from $142.00 to $144.00 and gave the stock a “neutral” rating in a research note on Monday, March 23rd.

Extra Space Storage Stock Down 0.7%

Shares of Extra Space Storage stock opened at $148.18 on Tuesday. Extra Space Storage has a 52-week low of $125.71 and a 52-week high of $155.19. The company has a 50 day moving average of $144.24 and a 200 day moving average of $140.71. The company has a quick ratio of 0.37, a current ratio of 0.37 and a debt-to-equity ratio of 0.93. The company has a market capitalization of $31.30 billion, a P/E ratio of 33.22, a P/E/G ratio of 4.62 and a beta of 1.20.

Extra Space Storage (NYSE:EXR) last issued its quarterly earnings results on Tuesday, April 28th. The real estate investment trust reported $1.14 earnings per share (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 firm had revenue of $856.03 million during the quarter, compared to analysts’ expectations of $851.35 million. During the same quarter in the prior year, the firm earned $2.00 EPS. The firm’s revenue was up 4.4% compared to the same quarter last year. Extra Space Storage has set its FY 2026 guidance at 8.050-8.350 EPS. As a group, research analysts forecast that Extra Space Storage will post 8.26 EPS for the current fiscal year.

Extra Space Storage Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, June 30th. Stockholders of record on Monday, June 15th will be issued a $1.62 dividend. The ex-dividend date is Monday, June 15th. This represents a $6.48 annualized dividend and a dividend yield of 4.4%. Extra Space Storage’s dividend payout ratio is presently 145.29%.

Insider Activity

In other news, EVP Gwyn Goodson Mcneal sold 3,300 shares of the company’s stock in a transaction on Thursday, June 11th. The shares were 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 position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Insiders own 0.96% of the company’s stock.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the stock. Cromwell Holdings LLC boosted its stake in shares of Extra Space Storage by 14.6% in the 4th quarter. Cromwell Holdings LLC now owns 574 shares of the real estate investment trust’s stock worth $75,000 after buying an additional 73 shares during the last quarter. Apollon Wealth Management LLC increased its position in shares of Extra Space Storage by 1.9% during the first quarter. Apollon Wealth Management LLC now owns 3,986 shares of the real estate investment trust’s stock valued at $523,000 after acquiring an additional 75 shares during the last quarter. Brown Advisory Inc. lifted its holdings in Extra Space Storage by 1.8% during the second quarter. Brown Advisory Inc. now owns 4,431 shares of the real estate investment trust’s stock worth $653,000 after acquiring an additional 80 shares during the period. Gilman Hill Asset Management LLC lifted its holdings in Extra Space Storage by 5.0% during the fourth quarter. Gilman Hill Asset Management LLC now owns 1,690 shares of the real estate investment trust’s stock worth $220,000 after acquiring an additional 80 shares during the period. Finally, Manchester Capital Management LLC grew its stake in Extra Space Storage by 18.9% in the 4th quarter. Manchester Capital Management LLC now owns 540 shares of the real estate investment trust’s stock valued at $70,000 after purchasing an additional 86 shares during the period. Institutional investors and hedge funds 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.