Extra Space Storage (NYSE:EXR) Given New $168.00 Price Target at Evercore ISI

Extra Space Storage (NYSE:EXR) had its target price lowered by investment analysts at Evercore ISI from $170.00 to $168.00 in a research note issued to investors on Monday, Benzinga reports. The firm presently has an “in-line” rating on the real estate investment trust’s stock. Evercore ISI’s target price points to a potential downside of 1.49% from the stock’s previous close.

A number of other analysts have also commented on EXR. Wells Fargo & Company lifted their price target on Extra Space Storage from $160.00 to $175.00 and gave the company an “overweight” rating in a research note on Friday, July 26th. Jefferies Financial Group upgraded 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. Barclays upped their price target on shares of Extra Space Storage from $158.00 to $188.00 and gave the company an “overweight” rating in a research report on Thursday, August 22nd. Bank of America lowered 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. Finally, Royal Bank of Canada initiated coverage on Extra Space Storage in a report on Tuesday, September 10th. They issued a “sector perform” rating and a $180.00 price objective for the company. Two investment analysts have rated the stock with a sell rating, seven have assigned a hold rating and seven have given a buy rating to the stock. According to MarketBeat, Extra Space Storage has an average rating of “Hold” and a consensus price target of $170.80.

Extra Space Storage Stock Up 0.5 %

Shares of EXR opened at $170.54 on Monday. The company has a debt-to-equity ratio of 0.76, a quick ratio of 0.20 and a current ratio of 0.20. Extra Space Storage has a 52 week low of $101.19 and a 52 week high of $184.87. The stock has a market capitalization of $36.11 billion, a price-to-earnings ratio of 37.98, a PEG ratio of 6.47 and a beta of 0.86. The stock has a fifty day moving average of $173.58 and a 200-day moving average of $158.22.

Insiders Place Their Bets

In other news, CEO Joseph D. Margolis sold 7,500 shares of Extra Space Storage stock in a transaction on Tuesday, October 1st. The shares were sold at an average price of $178.52, for a total value of $1,338,900.00. Following the completion of the sale, 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 position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. In other Extra Space Storage news, CEO Joseph D. Margolis sold 7,500 shares of the firm’s stock in a transaction on Tuesday, October 1st. The shares were sold at an average price of $178.52, for a total value of $1,338,900.00. Following the completion of the sale, the chief executive officer now directly 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 document filed with the SEC, which can be accessed through this hyperlink. Also, EVP William N. Springer sold 2,000 shares of the company’s stock in a transaction dated Wednesday, August 28th. The shares were sold at an average price of $175.33, for a total transaction of $350,660.00. Following the transaction, the executive vice president now owns 11,919 shares in the company, valued at $2,089,758.27. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 18,970 shares of company stock worth $3,367,307. Corporate insiders own 1.36% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. EdgeRock Capital LLC acquired a new position in shares of Extra Space Storage during the second quarter worth approximately $25,000. Creekmur Asset Management LLC bought a new stake in Extra Space Storage during the 4th quarter valued at $26,000. Centerpoint Advisors LLC acquired a new position in Extra Space Storage during the second quarter worth $27,000. Blue Trust Inc. lifted its stake in shares of Extra Space Storage by 540.5% in the second quarter. Blue Trust Inc. now owns 237 shares of the real estate investment trust’s stock valued at $35,000 after buying an additional 200 shares in the last quarter. Finally, Whittier Trust Co. of Nevada Inc. grew its holdings in shares of Extra Space Storage by 2,760.0% during 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 during the last quarter. Institutional investors own 99.11% of the company’s stock.

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.