Extra Space Storage (NYSE:EXR) Given New $192.00 Price Target at Barclays

Extra Space Storage (NYSE:EXR) had its price target raised by Barclays from $188.00 to $192.00 in a research report sent to investors on Monday morning, Benzinga reports. Barclays currently has an overweight rating on the real estate investment trust’s stock.

EXR has been the topic of several other reports. StockNews.com raised Extra Space Storage from a “sell” rating to a “hold” rating in a report on Tuesday, July 23rd. Wells Fargo & Company reissued an “equal weight” rating and issued a $175.00 target price on shares of Extra Space Storage in a report on Monday, October 21st. Bank of America downgraded shares of Extra Space Storage from a “neutral” rating to an “underperform” rating and cut their price target for the stock from $172.00 to $155.00 in a report on Monday, August 5th. Jefferies Financial Group upgraded shares of Extra Space Storage from a “hold” rating to a “buy” rating and increased their price target for the stock from $162.00 to $204.00 in a research report on Wednesday, September 18th. Finally, Truist Financial boosted their price objective on shares of Extra Space Storage from $152.00 to $167.00 and gave the company a “hold” rating in a research report on Friday, August 16th. Two investment analysts have rated the stock with a sell rating, eight have given a hold rating and six have issued a buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $171.07.

Extra Space Storage Trading Down 0.5 %

Shares of NYSE:EXR opened at $164.74 on Monday. The business’s 50 day simple moving average is $174.33 and its 200 day simple moving average is $160.18. Extra Space Storage has a 1 year low of $101.19 and a 1 year high of $184.87. The company has a debt-to-equity ratio of 0.76, a current ratio of 0.20 and a quick ratio of 0.20. The company has a market capitalization of $34.88 billion, a P/E ratio of 36.69, a P/E/G ratio of 6.25 and a beta of 0.86.

Extra Space Storage Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, September 30th. Shareholders of record on Monday, September 16th were given a $1.62 dividend. The ex-dividend date was Monday, September 16th. This represents a $6.48 annualized dividend and a yield of 3.93%. Extra Space Storage’s dividend payout ratio is presently 144.32%.

Insider Activity

In related news, EVP Gwyn Goodson Mcneal sold 2,823 shares of the firm’s stock in a transaction that occurred on Friday, August 23rd. The shares were sold at an average price of $177.01, for a total value of $499,699.23. Following the completion of the transaction, the executive vice president now owns 32,855 shares in the company, valued at $5,815,663.55. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In related news, EVP Gwyn Goodson Mcneal sold 2,823 shares of the business’s stock in a transaction on Friday, August 23rd. The shares were 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 of the company’s stock, valued at $5,815,663.55. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. 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 directly owns 24,190 shares of the company’s stock, valued at approximately $4,318,398.80. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 18,970 shares of company stock valued at $3,367,307. 1.36% of the stock is currently owned by corporate insiders.

Institutional Trading of Extra Space Storage

Several institutional investors have recently added to or reduced their stakes in the stock. Pathway Financial Advisers LLC lifted its position in shares of Extra Space Storage by 17,832.9% in the 3rd quarter. Pathway Financial Advisers LLC now owns 2,018,884 shares of the real estate investment trust’s stock worth $363,783,000 after purchasing an additional 2,007,626 shares during the period. Boston Partners acquired a new position in Extra Space Storage in the first quarter valued at $130,554,000. Janus Henderson Group PLC boosted its position in Extra Space Storage by 2,244.2% during the first quarter. Janus Henderson Group PLC now owns 597,729 shares of the real estate investment trust’s stock valued at $87,824,000 after acquiring an additional 572,231 shares during the last quarter. Canada Pension Plan Investment Board grew its holdings in Extra Space Storage by 43.7% during the 1st quarter. Canada Pension Plan Investment Board now owns 1,557,135 shares of the real estate investment trust’s stock worth $228,899,000 after acquiring an additional 473,559 shares during the period. Finally, American Century Companies Inc. raised its position in shares of Extra Space Storage by 543.5% in the 2nd quarter. American Century Companies Inc. now owns 397,170 shares of the real estate investment trust’s stock worth $61,724,000 after acquiring an additional 335,447 shares in the last quarter. 99.11% of the stock is currently owned by 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.