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

Shares of Extra Space Storage Inc. (NYSE:EXR) have earned a consensus rating of “Hold” from the fifteen brokerages that are currently covering the stock, MarketBeat.com reports. Two investment analysts have rated the stock with a sell recommendation, six have issued a hold recommendation and seven have given a buy recommendation to the company. The average 12-month target price among analysts that have covered the stock in the last year is $170.93.

Several equities research analysts have recently commented on the stock. Truist Financial raised their target price on shares of Extra Space Storage from $152.00 to $167.00 and gave the stock a “hold” rating in a research report on Friday, August 16th. StockNews.com upgraded shares of Extra Space Storage from a “sell” rating to a “hold” rating in a report on Tuesday, July 23rd. KeyCorp lifted their price objective on Extra Space Storage from $172.00 to $178.00 and gave the stock an “overweight” rating in a report on Monday, September 9th. Jefferies Financial Group raised shares of Extra Space Storage from a “hold” rating to a “buy” rating and lifted their target price for the stock from $162.00 to $204.00 in a research report on Wednesday, September 18th. Finally, Barclays increased their target price on Extra Space Storage from $158.00 to $188.00 and gave the company an “overweight” rating in a report on Thursday, August 22nd.

Extra Space Storage Stock Performance

Extra Space Storage stock opened at $169.77 on Friday. The firm has a market cap of $35.94 billion, a P/E ratio of 37.81, a P/E/G ratio of 2.67 and a beta of 0.86. Extra Space Storage has a 1-year low of $101.19 and a 1-year high of $184.87. The firm has a 50-day moving average of $173.27 and a 200-day moving average of $157.73. The company has a current ratio of 0.20, a quick ratio of 0.20 and a debt-to-equity ratio of 0.76.

Extra Space Storage Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, September 30th. Shareholders of record on Monday, September 16th were paid a $1.62 dividend. This represents a $6.48 annualized dividend and a yield of 3.82%. The ex-dividend date was Monday, September 16th. Extra Space Storage’s payout ratio is currently 144.32%.

Insider Buying and Selling at Extra Space Storage

In related news, CEO Joseph D. Margolis sold 7,500 shares of Extra Space Storage stock in a transaction dated Tuesday, October 1st. The stock was sold at an average price of $178.52, for a total value of $1,338,900.00. Following the completion of the transaction, the chief executive officer now owns 24,190 shares in the company, valued at approximately $4,318,398.80. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In other news, Director Kenneth M. Woolley sold 6,647 shares of Extra Space Storage stock in a transaction that occurred on Friday, September 13th. The shares were sold at an average price of $177.23, for a total transaction of $1,178,047.81. Following the completion of the sale, the director now owns 404,306 shares of the company’s stock, valued at approximately $71,655,152.38. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO Joseph D. Margolis sold 7,500 shares of the firm’s stock in a transaction on Tuesday, October 1st. The stock was sold at an average price of $178.52, for a total value of $1,338,900.00. Following the transaction, the chief executive officer now owns 24,190 shares in the company, valued at $4,318,398.80. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 18,970 shares of company stock worth $3,367,307 in the last quarter. 1.36% of the stock is owned by corporate insiders.

Institutional Trading of Extra Space Storage

Hedge funds and other institutional investors have recently bought and sold shares of the stock. EdgeRock Capital LLC acquired a new position in shares of Extra Space Storage during the second quarter worth $25,000. Creekmur Asset Management LLC purchased a new position in Extra Space Storage during the fourth quarter valued at approximately $26,000. Centerpoint Advisors LLC purchased a new stake in Extra Space Storage during the second quarter worth $27,000. Blue Trust Inc. grew its position in shares of Extra Space Storage by 540.5% during 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 during the period. Finally, Whittier Trust Co. of Nevada Inc. increased its position 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 valued at $44,000 after buying an additional 276 shares in 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.