Extra Space Storage Inc. (NYSE:EXR) Given Average Rating of “Hold” by Analysts

Shares of Extra Space Storage Inc. (NYSE:EXR) have been assigned an average rating of “Hold” from the twelve ratings firms that are presently covering the firm, Marketbeat Ratings reports. One investment analyst has rated the stock with a sell recommendation, six have given a hold recommendation and five have given a buy recommendation to the company. The average 12-month price objective among brokers that have covered the stock in the last year is $151.83.

Several equities analysts have recently weighed in on the stock. Wells Fargo & Company lifted their price target on shares of Extra Space Storage from $150.00 to $160.00 and gave the company an “overweight” rating in a research note on Friday, April 5th. Evercore ISI dropped their price target on shares of Extra Space Storage from $145.00 to $139.00 in a research note on Wednesday, May 1st. Raymond James reissued an “outperform” rating and issued a $160.00 price target on shares of Extra Space Storage in a research note on Thursday, March 28th. StockNews.com cut shares of Extra Space Storage from a “hold” rating to a “sell” rating in a research note on Saturday, March 2nd. Finally, Barclays lifted their price target on shares of Extra Space Storage from $157.00 to $158.00 and gave the company an “overweight” rating in a research note on Monday, May 20th.

Extra Space Storage Price Performance

NYSE:EXR opened at $155.74 on Friday. The company has a debt-to-equity ratio of 0.73, a current ratio of 0.15 and a quick ratio of 0.15. The firm has a market cap of $32.97 billion, a price-to-earnings ratio of 34.69, a price-to-earnings-growth ratio of 3.77 and a beta of 0.81. The company has a 50 day moving average price of $146.62 and a 200-day moving average price of $146.72. Extra Space Storage has a 1-year low of $101.19 and a 1-year high of $164.99.

Extra Space Storage Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, June 28th. Stockholders of record on Friday, June 14th will be given a dividend of $1.62 per share. The ex-dividend date is Friday, June 14th. This represents a $6.48 annualized dividend and a dividend yield of 4.16%. Extra Space Storage’s payout ratio is 144.32%.

Insider Activity

In related news, Director Joseph J. Bonner sold 677 shares of the business’s stock in a transaction dated Friday, June 7th. The shares were sold at an average price of $148.22, for a total value of $100,344.94. Following the sale, the director now directly owns 5,229 shares in the company, valued at approximately $775,042.38. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Corporate insiders own 1.36% of the company’s stock.

Institutional Trading of Extra Space Storage

Institutional investors and hedge funds have recently bought and sold shares of the business. Pathway Financial Advisers LLC purchased a new stake in shares of Extra Space Storage during the first quarter worth approximately $1,629,000. Boston Partners acquired a new position in Extra Space Storage in the first quarter valued at approximately $130,554,000. Cetera Advisors LLC acquired a new position in Extra Space Storage in the first quarter valued at approximately $410,000. Cetera Investment Advisers boosted its holdings in Extra Space Storage by 658.1% in the first quarter. Cetera Investment Advisers now owns 45,450 shares of the real estate investment trust’s stock valued at $6,681,000 after purchasing an additional 39,455 shares in the last quarter. Finally, PGGM Investments boosted its holdings in Extra Space Storage by 2.8% in the first quarter. PGGM Investments now owns 1,369,446 shares of the real estate investment trust’s stock valued at $201,309,000 after purchasing an additional 37,389 shares in the last quarter. 99.11% of the stock is currently owned by hedge funds and other institutional investors.

Extra Space Storage Company Profile

Extra Space Storage Inc, headquartered in Salt Lake City, Utah, is a self-administered and self-managed REIT and a member of the S&P 500. As of December 31, 2023, the Company owned and/or operated 3,714 self-storage stores in 42 states and Washington, DC The Company's stores comprise approximately 2.6 million units and approximately 283.0 million square feet of rentable space operating under the Extra Space, Life Storage and Storage Express brands.