Extra Space Storage (NYSE:EXR) had its price target increased by Stifel Nicolaus from $216.00 to $230.00 in a report published on Tuesday, The Fly reports. The firm currently has a buy rating on the real estate investment trust’s stock. The analysts noted that the move was a valuation call.
Other equities analysts have also issued reports about the stock. KeyCorp raised their target price on shares of Extra Space Storage from $194.00 to $209.00 and gave the stock an overweight rating in a research report on Thursday, November 18th. Zacks Investment Research lowered shares of Extra Space Storage from a buy rating to a hold rating and set a $211.00 target price on the stock. in a research report on Wednesday, November 17th. Truist increased their price target on Extra Space Storage from $176.00 to $188.00 and gave the stock a buy rating in a report on Monday, August 16th. They noted that the move was a valuation call. The Goldman Sachs Group reaffirmed a buy rating and set a $237.00 price target on shares of Extra Space Storage in a report on Monday, November 1st. Finally, Evercore ISI reaffirmed a hold rating and set a $196.00 price target on shares of Extra Space Storage in a report on Friday, October 22nd. One analyst has rated the stock with a sell rating, five have given a hold rating and ten have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of Buy and an average target price of $186.25.
Shares of Extra Space Storage stock opened at $200.00 on Tuesday. The firm has a market capitalization of $26.78 billion, a P/E ratio of 37.24, a P/E/G ratio of 2.56 and a beta of 0.29. Extra Space Storage has a 52 week low of $106.56 and a 52 week high of $204.98. The company has a quick ratio of 0.49, a current ratio of 0.49 and a debt-to-equity ratio of 1.65. The firm’s 50 day moving average is $187.91 and its two-hundred day moving average is $176.03.
Extra Space Storage (NYSE:EXR) last announced its earnings results on Wednesday, October 27th. The real estate investment trust reported $1.40 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.71 by ($0.31). The business had revenue of $351.36 million for the quarter, compared to analysts’ expectations of $338.35 million. Extra Space Storage had a return on equity of 22.72% and a net margin of 49.09%. The business’s revenue was up 21.0% on a year-over-year basis. During the same quarter last year, the business posted $1.31 earnings per share. As a group, research analysts expect that Extra Space Storage will post 6.85 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Friday, December 31st. Stockholders of record on Wednesday, December 15th will be paid a dividend of $1.25 per share. This represents a $5.00 annualized dividend and a dividend yield of 2.50%. The ex-dividend date of this dividend is Tuesday, December 14th. Extra Space Storage’s dividend payout ratio (DPR) is presently 93.11%.
In related news, CEO Joseph D. Margolis sold 3,750 shares of Extra Space Storage stock in a transaction dated Friday, October 1st. The stock was sold at an average price of $168.81, for a total transaction of $633,037.50. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, COO Matthew T. Herrington sold 400 shares of Extra Space Storage stock in a transaction dated Tuesday, November 2nd. The stock was sold at an average price of $202.53, for a total value of $81,012.00. The disclosure for this sale can be found here. Insiders own 2.20% of the company’s stock.
Institutional investors and hedge funds have recently bought and sold shares of the business. Koshinski Asset Management Inc. purchased a new stake in Extra Space Storage in the 3rd quarter valued at about $34,000. CX Institutional grew its holdings in Extra Space Storage by 29.4% in the 2nd quarter. CX Institutional now owns 255 shares of the real estate investment trust’s stock valued at $42,000 after buying an additional 58 shares during the period. Newbridge Financial Services Group Inc. grew its holdings in Extra Space Storage by 96.4% in the 3rd quarter. Newbridge Financial Services Group Inc. now owns 275 shares of the real estate investment trust’s stock valued at $46,000 after buying an additional 135 shares during the period. Berman Capital Advisors LLC grew its holdings in Extra Space Storage by 73.2% in the 3rd quarter. Berman Capital Advisors LLC now owns 291 shares of the real estate investment trust’s stock valued at $48,000 after buying an additional 123 shares during the period. Finally, O Shaughnessy Asset Management LLC grew its holdings in Extra Space Storage by 25.9% in the 2nd quarter. O Shaughnessy Asset Management LLC now owns 301 shares of the real estate investment trust’s stock valued at $49,000 after buying an additional 62 shares during the period. Institutional investors own 95.37% of the company’s stock.
About Extra Space Storage
Extra Space Storage, Inc is a real estate investment trust. It operates through the following segments: Self-Storage Operations and Tenant Reinsurance. The Self-Storage Operations segment includes rental operations of wholly-owned stores. The Tenant Reinsurance segment includes reinsurance of risks relating to the loss of goods stored by tenants in stores.
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