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

Extra Space Storage (NYSE:EXR) had its price objective increased by Evercore ISI from $167.00 to $170.00 in a research note released on Monday, Benzinga reports. They currently have an in-line rating on the real estate investment trust’s stock.

A number of other equities analysts also recently weighed in on EXR. Barclays boosted their target price on Extra Space Storage from $158.00 to $188.00 and gave the stock an overweight rating in a research note on Thursday, August 22nd. Wells Fargo & Company boosted their price objective on Extra Space Storage from $160.00 to $175.00 and gave the stock an overweight rating in a research report on Friday, July 26th. Bank of America downgraded Extra Space Storage from a neutral rating to an underperform rating and reduced their price objective for the company from $172.00 to $155.00 in a research note on Monday, August 5th. Raymond James lifted their target price on Extra Space Storage from $160.00 to $175.00 and gave the stock an outperform rating in a research note on Tuesday, July 23rd. Finally, KeyCorp boosted their price target on shares of Extra Space Storage from $172.00 to $178.00 and gave the stock an overweight rating in a report on Monday, September 9th. Two analysts have rated the stock with a sell rating, seven have given a hold rating and seven have given a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of Hold and a consensus target price of $170.93.

Extra Space Storage Trading Down 0.9 %

EXR opened at $180.09 on Monday. Extra Space Storage has a fifty-two week low of $101.19 and a fifty-two week high of $184.87. The firm has a market capitalization of $38.13 billion, a PE ratio of 40.11, a P/E/G ratio of 2.56 and a beta of 0.86. 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’s 50-day moving average is $169.66 and its 200 day moving average is $154.46.

Extra Space Storage Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, September 30th. Stockholders of record on Monday, September 16th will be given a dividend of $1.62 per share. This represents a $6.48 dividend on an annualized basis and a dividend yield of 3.60%. The ex-dividend date of this dividend is Monday, September 16th. Extra Space Storage’s payout ratio is 144.32%.

Insider Activity

In other Extra Space Storage news, EVP Gwyn Goodson Mcneal sold 2,823 shares of the stock in a transaction dated Friday, August 23rd. The shares were sold at an average price of $177.01, for a total transaction of $499,699.23. Following the completion of the sale, the executive vice president now directly owns 32,855 shares of the company’s stock, valued at $5,815,663.55. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. In related news, EVP William N. Springer sold 2,000 shares of the firm’s stock in a transaction on Wednesday, August 28th. The shares were sold at an average price of $175.33, for a total transaction of $350,660.00. Following the sale, the executive vice president now owns 11,919 shares in the company, valued at $2,089,758.27. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, EVP Gwyn Goodson Mcneal sold 2,823 shares of the company’s stock in a transaction dated Friday, August 23rd. The stock was 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 directly owns 32,855 shares of the company’s stock, valued at approximately $5,815,663.55. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 18,970 shares of company stock worth $3,172,757. Corporate insiders own 1.36% of the company’s stock.

Institutional Trading of Extra Space Storage

A number of institutional investors have recently made changes to their positions in EXR. QRG Capital Management Inc. acquired a new position in Extra Space Storage during the fourth quarter worth about $242,000. Beacon Pointe Advisors LLC grew its position in shares of Extra Space Storage by 21.2% in the fourth quarter. Beacon Pointe Advisors LLC now owns 2,130 shares of the real estate investment trust’s stock valued at $341,000 after purchasing an additional 373 shares in the last quarter. Financial Advocates Investment Management acquired a new stake in shares of Extra Space Storage in the fourth quarter valued at approximately $301,000. Brown Advisory Inc. lifted its position in Extra Space Storage by 5.4% during the fourth quarter. Brown Advisory Inc. now owns 4,336 shares of the real estate investment trust’s stock worth $695,000 after buying an additional 221 shares in the last quarter. Finally, ING Groep NV boosted its stake in Extra Space Storage by 30.7% during the fourth quarter. ING Groep NV now owns 10,225 shares of the real estate investment trust’s stock worth $1,639,000 after buying an additional 2,401 shares during the last quarter. 99.11% of the stock is owned by institutional investors and hedge funds.

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.