Extra Space Storage (NYSE:EXR) Price Target Raised to $170.00 at Evercore ISI

Extra Space Storage (NYSE:EXR) had its price target boosted by equities researchers at Evercore ISI from $167.00 to $170.00 in a research note issued to investors on Monday, Benzinga reports. The brokerage presently has an “in-line” rating on the real estate investment trust’s stock. Evercore ISI’s target price would indicate a potential downside of 5.04% from the company’s current price.

Several other brokerages also recently issued reports on EXR. Truist Financial raised their price objective on shares of Extra Space Storage from $152.00 to $167.00 and gave the stock a “hold” rating in a research note on Friday, August 16th. KeyCorp raised their price target on shares of Extra Space Storage from $172.00 to $178.00 and gave the stock an “overweight” rating in a research report on Monday, September 9th. Bank of America lowered shares of Extra Space Storage from a “neutral” rating to an “underperform” rating and cut their price objective for the company from $172.00 to $155.00 in a research report on Monday, August 5th. Barclays lifted their target price on Extra Space Storage from $158.00 to $188.00 and gave the stock an “overweight” rating in a research report on Thursday, August 22nd. Finally, Wells Fargo & Company upped their price target on Extra Space Storage from $160.00 to $175.00 and gave the company an “overweight” rating in a report on Friday, July 26th. Two analysts have rated the stock with a sell rating, seven have assigned a hold rating and six have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $168.57.

Extra Space Storage Price Performance

Shares of NYSE:EXR opened at $179.02 on Monday. The company has a market cap of $37.90 billion, a price-to-earnings ratio of 39.87, a PEG ratio of 2.56 and a beta of 0.86. The business has a 50 day moving average price of $168.68 and a 200 day moving average price of $154.08. The company has a quick ratio of 0.20, a current ratio of 0.20 and a debt-to-equity ratio of 0.76. Extra Space Storage has a twelve month low of $101.19 and a twelve month high of $179.42.

Insider Activity at Extra Space Storage

In other Extra Space Storage news, EVP Gwyn Goodson Mcneal sold 2,823 shares of the stock in a transaction on Friday, August 23rd. The stock was sold at an average price of $177.01, for a total transaction of $499,699.23. Following the completion of the transaction, the executive vice president now directly owns 32,855 shares in the company, valued at $5,815,663.55. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, CEO Joseph D. Margolis sold 7,500 shares of Extra Space Storage stock in a transaction that occurred on Monday, July 1st. The shares were sold at an average price of $152.58, for a total value of $1,144,350.00. Following the completion of the transaction, the chief executive officer now owns 31,690 shares in the company, valued at $4,835,260.20. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Gwyn Goodson Mcneal sold 2,823 shares of the stock in a transaction that occurred on Friday, August 23rd. The stock was sold at an average price of $177.01, for a total value of $499,699.23. Following the sale, the executive vice president now owns 32,855 shares in the company, valued at $5,815,663.55. The disclosure for this sale can be found here. Insiders have sold a total of 18,970 shares of company stock valued at $3,172,757 in the last 90 days. 1.36% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Extra Space Storage

Institutional investors have recently bought and sold shares of the business. EdgeRock Capital LLC bought a new stake in shares of Extra Space Storage during the second quarter worth $25,000. Creekmur Asset Management LLC acquired a new position in Extra Space Storage during the 4th quarter worth about $26,000. Centerpoint Advisors LLC bought a new stake in Extra Space Storage during the 2nd quarter worth about $27,000. Blue Trust Inc. increased its position in Extra Space Storage by 540.5% in the 2nd quarter. Blue Trust Inc. now owns 237 shares of the real estate investment trust’s stock valued at $35,000 after acquiring an additional 200 shares in the last quarter. Finally, Whittier Trust Co. of Nevada Inc. raised its stake in shares of Extra Space Storage by 2,760.0% in the second quarter. Whittier Trust Co. of Nevada Inc. now owns 286 shares of the real estate investment trust’s stock worth $44,000 after acquiring an additional 276 shares during the last quarter. Institutional investors own 99.11% of the company’s stock.

About Extra Space Storage

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.