Extra Space Storage (NYSE:EXR) Price Target Raised to $158.00

Extra Space Storage (NYSE:EXR) had its price target raised by Scotiabank from $157.00 to $158.00 in a research note released on Tuesday morning, Marketbeat reports. They currently have a sector perform rating on the real estate investment trust’s stock.

Other research analysts also recently issued research reports about the company. Royal Bank Of Canada boosted their price target on Extra Space Storage from $153.00 to $157.00 and gave the company a “sector perform” rating in a research note on Thursday, July 30th. Raymond James Financial initiated coverage on shares of Extra Space Storage in a research note on Thursday, July 16th. They set an “outperform” rating and a $44.00 price objective on the stock. The Goldman Sachs Group reissued a “neutral” rating and issued a $160.00 target price on shares of Extra Space Storage in a report on Thursday, July 30th. Weiss Ratings raised shares of Extra Space Storage from a “hold (c)” rating to a “hold (c+)” rating in a report on Friday, August 7th. Finally, Wells Fargo & Company lifted their price objective on shares of Extra Space Storage from $154.00 to $158.00 and gave the company an “overweight” rating in a research note on Friday, July 24th. Six equities research analysts have rated the stock with a Buy rating and ten have given a Hold rating to the company’s stock. According to data from MarketBeat.com, Extra Space Storage presently has an average rating of “Hold” and an average price target of $147.87.

Extra Space Storage Price Performance

Shares of NYSE EXR opened at $147.53 on Tuesday. The company has a debt-to-equity ratio of 0.96, a current ratio of 1.56 and a quick ratio of 1.56. The business has a 50-day moving average of $147.37 and a 200-day moving average of $143.74. The stock has a market capitalization of $31.17 billion, a price-to-earnings ratio of 32.57, a PEG ratio of 4.25 and a beta of 1.18. Extra Space Storage has a fifty-two week low of $125.71 and a fifty-two week high of $158.88.

Extra Space Storage (NYSE:EXR) last issued its earnings results on Tuesday, July 28th. The real estate investment trust reported $1.25 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.16 by $0.09. Extra Space Storage had a net margin of 27.80% and a return on equity of 6.70%. The business had revenue of $874.15 million during the quarter, compared to the consensus estimate of $874.99 million. During the same period last year, the business posted $2.05 EPS. Extra Space Storage’s revenue was up 3.9% on a year-over-year basis. Extra Space Storage has set its FY 2026 guidance at 8.250-8.400 EPS. As a group, sell-side analysts predict that Extra Space Storage will post 8.32 earnings per share for the current fiscal year.

Extra Space Storage Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, September 30th. Investors of record on Tuesday, September 15th will be paid a dividend of $1.62 per share. The ex-dividend date of this dividend is Tuesday, September 15th. This represents a $6.48 annualized dividend and a yield of 4.4%. Extra Space Storage’s dividend payout ratio is currently 143.05%.

Insider Activity at Extra Space Storage

In related news, EVP Gwyn Goodson Mcneal sold 3,300 shares of Extra Space Storage stock in a transaction 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 sale, the executive vice president owned 37,374 shares of the company’s stock, valued at approximately $5,606,100. This trade represents a 8.11% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 0.96% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Extra Space Storage

Several large investors have recently bought and sold shares of the stock. NewEdge Advisors LLC lifted its holdings 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 during the last quarter. Empowered Funds LLC raised its position in shares of Extra Space Storage by 15.5% in the first quarter. Empowered Funds LLC now owns 4,912 shares of the real estate investment trust’s stock valued at $729,000 after purchasing an additional 661 shares during the period. Sivia Capital Partners LLC bought a new stake in shares of Extra Space Storage in the second quarter valued at approximately $457,000. First Trust Advisors LP boosted its holdings in Extra Space Storage by 184.1% in the 2nd quarter. First Trust Advisors LP now owns 108,205 shares of the real estate investment trust’s stock worth $15,954,000 after buying an additional 70,115 shares during the period. Finally, Brown Advisory Inc. raised its holdings in 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 acquiring an additional 80 shares during the period. 99.11% of the stock is currently owned by institutional investors.

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.