Extra Space Storage (NYSE:EXR) Price Target Raised to $146.00

Extra Space Storage (NYSE:EXR) had its price objective lifted by Truist Financial from $142.00 to $146.00 in a research report report published on Tuesday, Marketbeat.com reports. Truist Financial currently has a hold rating on the real estate investment trust’s stock.

A number of other brokerages also recently issued reports on EXR. UBS Group dropped their price target on shares of Extra Space Storage from $156.00 to $148.00 and set a “buy” rating on the stock in a research report on Thursday, January 8th. Royal Bank Of Canada dropped their target price on shares of Extra Space Storage from $148.00 to $146.00 and set a “sector perform” rating on the stock in a report on Friday, November 7th. Evercore ISI reiterated a “cautious” rating on shares of Extra Space Storage in a report on Monday, November 3rd. Morgan Stanley lowered their price objective on Extra Space Storage from $155.00 to $152.00 and set an “equal weight” rating for the company in a research report on Friday, December 5th. Finally, Barclays restated an “overweight” rating and set a $164.00 target price on shares of Extra Space Storage in a research report on Tuesday, January 13th. Six analysts have rated the stock with a Buy rating and ten have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $146.53.

Extra Space Storage Trading Down 1.1%

NYSE EXR opened at $143.82 on Tuesday. The firm has a market capitalization of $30.52 billion, a PE ratio of 32.10, a price-to-earnings-growth ratio of 2.70 and a beta of 1.27. The business’s 50-day moving average price is $134.00 and its two-hundred day moving average price is $139.70. The company has a current ratio of 0.24, a quick ratio of 0.24 and a debt-to-equity ratio of 0.89. Extra Space Storage has a 12 month low of $121.03 and a 12 month high of $162.77.

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

Extra Space Storage Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Wednesday, December 31st. Investors of record on Monday, December 15th were given a $1.62 dividend. This represents a $6.48 dividend on an annualized basis and a yield of 4.5%. The ex-dividend date of this dividend was Monday, December 15th. Extra Space Storage’s payout ratio is presently 144.64%.

Institutional Investors Weigh In On Extra Space Storage

A number of hedge funds have recently added to or reduced their stakes in the company. Vanguard Group Inc. raised its position in shares of Extra Space Storage by 0.5% during 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 purchasing an additional 161,171 shares during the period. State Street Corp raised its holdings in Extra Space Storage by 1.7% during the third quarter. State Street Corp now owns 13,910,878 shares of the real estate investment trust’s stock worth $1,960,599,000 after buying an additional 230,697 shares during the last quarter. Norges Bank bought a new position in shares of Extra Space Storage in the second quarter valued at $1,058,303,000. Capital World Investors lifted its stake in shares of Extra Space Storage by 0.5% in the third quarter. Capital World Investors now owns 7,161,360 shares of the real estate investment trust’s stock valued at $1,009,371,000 after buying an additional 33,622 shares in the last quarter. Finally, Principal Financial Group Inc. grew its holdings in shares of Extra Space Storage by 6.4% during the third quarter. Principal Financial Group Inc. now owns 6,715,901 shares of the real estate investment trust’s stock valued at $946,540,000 after buying an additional 406,146 shares during 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.