JPMorgan Chase & Co. Lowers Extra Space Storage (NYSE:EXR) Price Target to $153.00

Extra Space Storage (NYSE:EXR) had its price objective lowered by equities research analysts at JPMorgan Chase & Co. from $157.00 to $153.00 in a research report issued on Monday, Benzinga reports. The brokerage presently has a “neutral” rating on the real estate investment trust’s stock. JPMorgan Chase & Co.‘s target price suggests a potential upside of 13.42% from the stock’s previous close.

Other research analysts have also recently issued reports about the company. Royal Bank Of Canada raised their target price on Extra Space Storage from $153.00 to $157.00 and gave the stock a “sector perform” rating in a research report on Thursday, July 30th. Mizuho lowered their price target on shares of Extra Space Storage from $155.00 to $152.00 and set an “outperform” rating on the stock in a report on Wednesday, September 2nd. Bank of America upgraded shares of Extra Space Storage from an “underperform” rating to a “neutral” rating and increased their price objective for the company from $147.00 to $156.00 in a research note on Tuesday, June 16th. Raymond James Financial began coverage on shares of Extra Space Storage in a report on Thursday, July 16th. They set an “outperform” rating and a $44.00 price objective for the company. Finally, BMO Capital Markets raised shares of Extra Space Storage from a “market perform” rating to an “outperform” rating and upped their target price for the company from $160.00 to $170.00 in a research note on Thursday, August 27th. Seven investment analysts have rated the stock with a Buy rating and nine have assigned a Hold rating to the stock. According to MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $149.47.

Extra Space Storage Trading Down 1.9%

Shares of EXR opened at $134.90 on Monday. Extra Space Storage has a 12-month low of $125.71 and a 12-month high of $158.88. The company has a quick ratio of 1.56, a current ratio of 1.56 and a debt-to-equity ratio of 0.96. The firm has a market capitalization of $28.50 billion, a price-to-earnings ratio of 29.78, a P/E/G ratio of 3.93 and a beta of 1.16. The stock’s 50-day moving average price is $144.38 and its 200 day moving average price is $142.85.

Extra Space Storage (NYSE:EXR) last announced its quarterly earnings data on Tuesday, July 28th. The real estate investment trust reported $1.25 EPS for the quarter, topping analysts’ consensus estimates of $1.16 by $0.09. The company had revenue of $874.15 million during the quarter, compared to the consensus estimate of $874.99 million. Extra Space Storage had a return on equity of 6.70% and a net margin of 27.80%.The company’s quarterly revenue was up 3.9% on a year-over-year basis. During the same quarter last year, the company earned $2.05 EPS. Extra Space Storage has set its FY 2026 guidance at 8.250-8.400 EPS. As a group, research analysts predict that Extra Space Storage will post 8.36 earnings per share for the current year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of the business. Security National Bank of SO Dak acquired a new stake in Extra Space Storage in the 2nd quarter valued at approximately $34,000. Van Hulzen Asset Management LLC boosted its position in Extra Space Storage by 2.8% during the 2nd quarter. Van Hulzen Asset Management LLC now owns 3,630 shares of the real estate investment trust’s stock worth $527,000 after acquiring an additional 100 shares during the last quarter. Engineers Gate Manager LP acquired a new position in Extra Space Storage during the 2nd quarter worth approximately $647,000. NewEdge Advisors LLC grew its stake in shares of Extra Space Storage by 5.1% during the 2nd quarter. NewEdge Advisors LLC now owns 6,121 shares of the real estate investment trust’s stock worth $889,000 after acquiring an additional 299 shares in the last quarter. Finally, Squarepoint Ops LLC grew its stake in shares of Extra Space Storage by 359.9% during the 2nd quarter. Squarepoint Ops LLC now owns 25,949 shares of the real estate investment trust’s stock worth $3,770,000 after acquiring an additional 20,307 shares in the last quarter. 99.11% of the stock is owned by institutional investors and hedge funds.

About Extra Space Storage

Extra Space Storage Inc is a real estate investment trust (REIT) that owns, operates, manages and acquires self-storage facilities. Its properties provide individuals and businesses with rental storage units in a range of sizes, along with vehicle, boat and recreational vehicle storage at select locations.

The company also provides third-party management services for self-storage properties owned by other investors and operators. Its services generally include facility operations, marketing, customer support, revenue management and technology solutions.