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

Extra Space Storage (NYSE:EXR) had its price objective increased by equities researchers at Mizuho from $137.00 to $143.00 in a report issued on Monday,Benzinga reports. The firm presently has an “outperform” rating on the real estate investment trust’s stock. Mizuho’s price target points to a potential upside of 1.41% from the company’s previous close.

Several other equities research analysts have also commented on EXR. Truist Financial decreased their price objective on shares of Extra Space Storage from $150.00 to $142.00 and set a “hold” rating on the stock in a research report on Tuesday, December 16th. Morgan Stanley cut their price target 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. Royal Bank Of Canada reduced their price target on Extra Space Storage from $148.00 to $146.00 and set a “sector perform” rating on the stock in a research report on Friday, November 7th. UBS Group cut their target price on Extra Space Storage from $156.00 to $148.00 and set a “buy” rating on the stock in a research report on Thursday. Finally, Wall Street Zen downgraded Extra Space Storage from a “hold” rating to a “sell” rating in a report on Saturday, November 1st. Six analysts have rated the stock with a Buy rating and eleven have assigned a Hold rating to the company. According to MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $146.60.

Extra Space Storage Stock Up 1.3%

Extra Space Storage stock traded up $1.82 during midday trading on Monday, reaching $141.02. The company’s stock had a trading volume of 134,655 shares, compared to its average volume of 1,304,070. Extra Space Storage has a 52-week low of $121.03 and a 52-week high of $162.77. The stock’s 50-day simple moving average is $131.67 and its 200-day simple moving average is $139.85. The company has a debt-to-equity ratio of 0.89, a current ratio of 0.24 and a quick ratio of 0.24. The stock has a market capitalization of $29.93 billion, a P/E ratio of 31.46, a PEG ratio of 2.57 and a beta of 1.27.

Extra Space Storage (NYSE:EXR) last announced its earnings results on Wednesday, October 29th. The real estate investment trust reported $2.08 EPS for the quarter, beating analysts’ consensus estimates of $2.06 by $0.02. The business had revenue of $858.46 million during the quarter, compared to analysts’ expectations of $736.26 million. Extra Space Storage had a return on equity of 6.56% and a net margin of 28.40%.The business’s revenue was up 4.1% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $2.07 earnings per share. Extra Space Storage has set its FY 2025 guidance at 8.120-8.20 EPS. On average, sell-side analysts expect that Extra Space Storage will post 8.1 EPS for the current year.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in the stock. Norges Bank acquired a new position in Extra Space Storage during the 2nd quarter valued at $1,058,303,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its position in Extra Space Storage by 900.0% in the third quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 2,187,795 shares of the real estate investment trust’s stock valued at $308,348,000 after buying an additional 1,969,013 shares in the last quarter. Resolution Capital Ltd grew its position in Extra Space Storage by 116.2% during the 2nd quarter. Resolution Capital Ltd now owns 1,950,842 shares of the real estate investment trust’s stock worth $287,632,000 after acquiring an additional 1,048,685 shares during the last quarter. Russell Investments Group Ltd. lifted its position in Extra Space Storage by 85.7% during the 3rd quarter. Russell Investments Group Ltd. now owns 1,441,444 shares of the real estate investment trust’s stock worth $203,160,000 after buying an additional 665,204 shares in the last quarter. Finally, Marshall Wace LLP lifted its holdings in Extra Space Storage by 60.1% during the 2nd quarter. Marshall Wace LLP now owns 1,477,404 shares of the real estate investment trust’s stock worth $217,828,000 after buying an additional 554,666 shares in the last quarter. Institutional investors and hedge funds 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.