Extra Space Storage Inc (NYSE:EXR) Receives $146.27 Consensus PT from Brokerages

Shares of Extra Space Storage Inc (NYSE:EXR) have been assigned a consensus rating of “Hold” from the sixteen ratings firms that are currently covering the company, MarketBeat reports. Ten analysts have rated the stock with a hold recommendation and six have assigned a buy recommendation to the company. The average 1-year price objective among brokerages that have covered the stock in the last year is $146.2667.

EXR has been the topic of several research analyst reports. Wall Street Zen raised shares of Extra Space Storage from a “sell” rating to a “hold” rating in a report on Saturday. Wells Fargo & Company lifted their price objective on Extra Space Storage from $148.00 to $154.00 and gave the company an “overweight” rating in a research note on Monday, June 1st. JPMorgan Chase & Co. boosted their target price on Extra Space Storage from $142.00 to $144.00 and gave the stock a “neutral” rating in a research report on Monday, March 23rd. Bank of America raised Extra Space Storage from an “underperform” rating to a “neutral” rating and raised their price target for the company from $147.00 to $156.00 in a report on Tuesday, June 16th. Finally, Weiss Ratings reiterated a “hold (c)” rating on shares of Extra Space Storage in a research report on Tuesday, April 21st.

Insider Transactions at Extra Space Storage

In other Extra Space Storage news, EVP Gwyn Goodson Mcneal sold 3,300 shares of the business’s stock in a transaction that occurred 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 of the company’s stock, valued at $5,606,100. The trade was a 8.11% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.96% of the stock is currently owned by insiders.

Institutional Trading of Extra Space Storage

A number of hedge funds have recently made changes to their positions in EXR. NewEdge Advisors LLC raised its position in Extra Space Storage by 9.3% during the first quarter. NewEdge Advisors LLC now owns 3,409 shares of the real estate investment trust’s stock valued at $506,000 after purchasing an additional 291 shares in the last quarter. Empowered Funds LLC boosted its holdings in shares of Extra Space Storage by 15.5% in the 1st quarter. Empowered Funds LLC now owns 4,912 shares of the real estate investment trust’s stock worth $729,000 after purchasing an additional 661 shares in the last quarter. Sivia Capital Partners LLC bought a new position in shares of Extra Space Storage during the 2nd quarter valued at about $457,000. First Trust Advisors LP increased its position in shares of Extra Space Storage by 184.1% during the 2nd quarter. First Trust Advisors LP now owns 108,205 shares of the real estate investment trust’s stock valued at $15,954,000 after purchasing an additional 70,115 shares during the last quarter. Finally, Brown Advisory Inc. raised its holdings in shares of Extra Space Storage by 1.8% during the 2nd quarter. Brown Advisory Inc. now owns 4,431 shares of the real estate investment trust’s stock valued at $653,000 after buying an additional 80 shares in the last quarter. 99.11% of the stock is owned by institutional investors.

Extra Space Storage Price Performance

Shares of NYSE:EXR opened at $147.35 on Friday. The company has a 50 day moving average of $145.36 and a 200 day moving average of $142.32. The stock has a market cap of $31.13 billion, a P/E ratio of 33.04, a P/E/G ratio of 4.59 and a beta of 1.19. Extra Space Storage has a 12 month low of $125.71 and a 12 month high of $155.19. The company has a current ratio of 0.37, a quick ratio of 0.37 and a debt-to-equity ratio of 0.93.

Extra Space Storage (NYSE:EXR) last posted its earnings results on Tuesday, April 28th. The real estate investment trust reported $1.14 earnings per share (EPS) for the quarter, missing the consensus estimate 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 company earned $2.00 earnings per share. The business’s revenue for the quarter 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, sell-side 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 was paid on Tuesday, June 30th. Investors of record on Monday, June 15th were paid a $1.62 dividend. This represents a $6.48 dividend on an annualized basis and a yield of 4.4%. The ex-dividend date of this dividend was Monday, June 15th. Extra Space Storage’s dividend payout ratio (DPR) is currently 145.29%.

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.