Extra Space Storage (NYSE:EXR) Given New $153.00 Price Target at Mizuho

Extra Space Storage (NYSE:EXR) had its target price upped by investment analysts at Mizuho from $141.00 to $153.00 in a note issued to investors on Wednesday,Benzinga reports. The firm currently has an “outperform” rating on the real estate investment trust’s stock. Mizuho’s target price suggests a potential upside of 3.41% from the stock’s current price.

Several other research firms have also recently issued reports on EXR. Wells Fargo & Company lowered their price objective on Extra Space Storage from $170.00 to $165.00 and set an “equal weight” rating for the company in a research report on Friday, February 21st. Benchmark reduced their target price on Extra Space Storage from $61.00 to $55.00 and set a “buy” rating for the company in a report on Tuesday, May 13th. The Goldman Sachs Group reissued a “buy” rating on shares of Extra Space Storage in a report on Thursday, March 6th. Barclays decreased their price objective on Extra Space Storage from $181.00 to $178.00 and set an “overweight” rating for the company in a research report on Friday, May 16th. Finally, Bank of America increased their target price on Extra Space Storage from $155.00 to $161.00 and gave the stock a “neutral” rating in a research note on Tuesday, May 13th. Seven equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $159.38.

Extra Space Storage Price Performance

Shares of NYSE:EXR traded up $0.03 during trading on Wednesday, reaching $147.95. The stock had a trading volume of 353,901 shares, compared to its average volume of 1,054,328. The company has a debt-to-equity ratio of 0.77, a quick ratio of 0.23 and a current ratio of 0.23. The business has a fifty day moving average price of $143.28 and a 200-day moving average price of $151.20. The stock has a market cap of $31.40 billion, a PE ratio of 38.72, a PEG ratio of 7.76 and a beta of 1.14. Extra Space Storage has a 1-year low of $121.03 and a 1-year high of $184.87.

Extra Space Storage (NYSE:EXR) last posted its earnings results on Tuesday, April 29th. The real estate investment trust reported $2.00 EPS for the quarter, beating analysts’ consensus estimates of $1.96 by $0.04. The company had revenue of $820.00 million for the quarter, compared to the consensus estimate of $705.12 million. Extra Space Storage had a return on equity of 5.51% and a net margin of 25.35%. The company’s revenue for the quarter was up 2.6% on a year-over-year basis. During the same quarter in the previous year, the business earned $1.96 earnings per share. On average, equities analysts forecast that Extra Space Storage will post 8.1 earnings per share for the current fiscal year.

Insider Activity

In related news, Director Joseph J. Bonner sold 672 shares of the stock in a transaction dated Thursday, March 13th. The shares were sold at an average price of $149.10, for a total value of $100,195.20. Following the completion of the sale, the director now owns 4,557 shares in the company, valued at approximately $679,448.70. This trade represents a 12.85% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP William N. Springer sold 1,220 shares of the stock in a transaction dated Friday, February 28th. The shares were sold at an average price of $152.66, for a total transaction of $186,245.20. Following the completion of the sale, the executive vice president now owns 20,158 shares of the company’s stock, valued at approximately $3,077,320.28. The trade was a 5.71% decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 9,392 shares of company stock valued at $1,392,315. 0.96% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Extra Space Storage

A number of hedge funds and other institutional investors have recently bought and sold shares of EXR. Intrua Financial LLC grew its holdings in shares of Extra Space Storage by 7.4% in the 1st quarter. Intrua Financial LLC now owns 3,196 shares of the real estate investment trust’s stock valued at $475,000 after buying an additional 219 shares during the period. Mattson Financial Services LLC lifted its holdings in Extra Space Storage by 17.7% during the 1st quarter. Mattson Financial Services LLC now owns 21,231 shares of the real estate investment trust’s stock worth $3,153,000 after purchasing an additional 3,187 shares during the last quarter. Advisory Alpha LLC acquired a new stake in Extra Space Storage during the 1st quarter worth approximately $231,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its holdings in Extra Space Storage by 5.8% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 2,268,023 shares of the real estate investment trust’s stock valued at $336,779,000 after acquiring an additional 124,976 shares in the last quarter. Finally, Woodline Partners LP raised its holdings in shares of Extra Space Storage by 157.4% during the 1st quarter. Woodline Partners LP now owns 389,716 shares of the real estate investment trust’s stock worth $57,869,000 after buying an additional 238,303 shares in the last quarter. 99.11% of the stock is owned by institutional investors and hedge funds.

Extra Space Storage Company Profile

Extra Space Storage Inc, headquartered in Salt Lake City, Utah, is a self-administered and self-managed REIT and a member of the S&P 500. As of December 31, 2023, the Company owned and/or operated 3,714 self-storage stores in 42 states and Washington, DC The Company's stores comprise approximately 2.6 million units and approximately 283.0 million square feet of rentable space operating under the Extra Space, Life Storage and Storage Express brands.