Extra Space Storage Inc (NYSE:EXR) Stock Has Consensus Target Price of $148.67 According to Brokerages

Extra Space Storage Inc (NYSE:EXR) has earned a consensus recommendation of “Moderate Buy” from the sixteen ratings firms that are presently covering the stock, MarketBeat reports. Eight research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. The average 12 month target price among brokerages that have issued ratings on the stock in the last year is $148.60.

Several equities analysts recently commented on EXR shares. Mizuho reduced their price target on Extra Space Storage from $155.00 to $152.00 and set an “outperform” rating on the stock in a research report on Wednesday, September 2nd. Royal Bank Of Canada dropped their price objective on shares of Extra Space Storage from $157.00 to $156.00 and set a “sector perform” rating on the stock in a research note on Thursday. Weiss Ratings lowered shares of Extra Space Storage from a “hold (c+)” rating to a “hold (c)” rating in a research note on Tuesday, October 6th. Wall Street Zen raised shares of Extra Space Storage from a “sell” rating to a “hold” rating in a research report on Sunday, August 9th. Finally, Evercore set a $146.00 target price on shares of Extra Space Storage in a research report on Monday, September 21st.

Hedge Funds Weigh In On Extra Space Storage

A number of institutional investors and hedge funds have recently added to or reduced their stakes in EXR. Pathway Financial Advisers LLC acquired a new stake in Extra Space Storage during the 3rd quarter valued at approximately $51,000. Chicago Partners Investment Group LLC raised its position in shares of Extra Space Storage by 86.6% in the 3rd quarter. Chicago Partners Investment Group LLC now owns 4,019 shares of the real estate investment trust’s stock valued at $576,000 after purchasing an additional 1,865 shares in the last quarter. Rakuten Investment Management Inc. raised its position in shares of Extra Space Storage by 9.8% in the 3rd quarter. Rakuten Investment Management Inc. now owns 37,920 shares of the real estate investment trust’s stock valued at $5,062,000 after purchasing an additional 3,370 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. purchased a new position in shares of Extra Space Storage during the 3rd quarter valued at approximately $7,573,000. Finally, Profund Advisors LLC boosted its stake in shares of Extra Space Storage by 42.1% during the 3rd quarter. Profund Advisors LLC now owns 3,929 shares of the real estate investment trust’s stock valued at $517,000 after buying an additional 1,165 shares during the last quarter. 99.11% of the stock is owned by hedge funds and other institutional investors.

Extra Space Storage Stock Up 0.1%

Shares of NYSE EXR opened at $151.50 on Monday. The stock has a fifty day moving average price of $138.55 and a 200 day moving average price of $142.35. The company has a current ratio of 0.25, a quick ratio of 1.56 and a debt-to-equity ratio of 0.97. Extra Space Storage has a 12-month low of $125.71 and a 12-month high of $158.88. The company has a market cap of $32.01 billion, a P/E ratio of 30.79, a P/E/G ratio of 4.43 and a beta of 1.07.

Extra Space Storage (NYSE:EXR) last issued its earnings results on Tuesday, October 27th. The real estate investment trust reported $1.17 earnings per share for the quarter, missing the consensus estimate of $2.10 by ($0.93). Extra Space Storage had a return on equity of 7.36% and a net margin of 29.90%. The company had revenue of $889.79 million during the quarter, compared to analysts’ expectations of $886.61 million. During the same period in the previous year, the company earned $2.08 EPS. Extra Space Storage’s quarterly revenue was up 3.6% on a year-over-year basis. Research analysts anticipate that Extra Space Storage will post 8.45 EPS for the current fiscal year.

Extra Space Storage Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, September 30th. Investors of record on Tuesday, September 15th were paid a dividend of $1.62 per share. The ex-dividend date of this dividend was Tuesday, September 15th. This represents a $6.48 annualized dividend and a yield of 4.3%. Extra Space Storage’s payout ratio is 131.71%.

About Extra Space Storage

Extra Space Storage Inc is a real estate investment trust that owns, operates, manages and develops self-storage properties in the United States. The company provides storage units for residential, business and vehicle-storage customers, with facilities offering a range of unit sizes and access options.

In addition to operating properties under the Extra Space Storage brand, the company provides third-party property management, acquisition and development services for self-storage owners.