Analysts Set Extra Space Storage Inc. (NYSE:EXR) Target Price at $151.83

Shares of Extra Space Storage Inc. (NYSE:EXR) have been assigned a consensus rating of “Hold” from the twelve brokerages that are presently covering the firm, Marketbeat Ratings reports. One investment analyst has rated the stock with a sell rating, six have issued a hold rating and five have given a buy rating to the company. The average 12 month target price among brokers that have issued a report on the stock in the last year is $151.83.

A number of brokerages have issued reports on EXR. Citigroup cut their price target on shares of Extra Space Storage from $168.00 to $160.00 and set a “neutral” rating on the stock in a report on Friday, June 7th. Evercore ISI dropped their price objective on Extra Space Storage from $145.00 to $139.00 in a report on Wednesday, May 1st. Barclays boosted their target price on Extra Space Storage from $157.00 to $158.00 and gave the company an “overweight” rating in a research note on Monday, May 20th. Raymond James reaffirmed an “outperform” rating and issued a $160.00 price target on shares of Extra Space Storage in a research note on Thursday, March 28th. Finally, Wells Fargo & Company boosted their price objective on shares of Extra Space Storage from $150.00 to $160.00 and gave the company an “overweight” rating in a research report on Friday, April 5th.

Extra Space Storage Stock Up 0.3 %

Shares of Extra Space Storage stock opened at $154.20 on Friday. The company has a debt-to-equity ratio of 0.73, a quick ratio of 0.15 and a current ratio of 0.15. Extra Space Storage has a 52-week low of $101.19 and a 52-week high of $164.99. The company’s 50 day moving average price is $148.67 and its 200-day moving average price is $146.98. The stock has a market capitalization of $32.65 billion, a price-to-earnings ratio of 34.34, a P/E/G ratio of 3.24 and a beta of 0.83.

Extra Space Storage Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, June 28th. Investors of record on Friday, June 14th were given a dividend of $1.62 per share. This represents a $6.48 dividend on an annualized basis and a yield of 4.20%. The ex-dividend date was Friday, June 14th. Extra Space Storage’s dividend payout ratio (DPR) is presently 144.32%.

Insider Buying and Selling at Extra Space Storage

In other news, CEO Joseph D. Margolis sold 7,500 shares of the stock in a transaction on Monday, July 1st. The stock was sold at an average price of $152.58, for a total value of $1,144,350.00. Following the sale, the chief executive officer now directly owns 31,690 shares of the company’s stock, valued at $4,835,260.20. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. In other news, CEO Joseph D. Margolis sold 7,500 shares of the company’s stock in a transaction that occurred on Monday, July 1st. The shares were sold at an average price of $152.58, for a total value of $1,144,350.00. Following the transaction, the chief executive officer now owns 31,690 shares in the company, valued at $4,835,260.20. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Joseph J. Bonner sold 677 shares of the stock in a transaction that occurred on Friday, June 7th. The shares were sold at an average price of $148.22, for a total transaction of $100,344.94. Following the sale, the director now owns 5,229 shares in the company, valued at approximately $775,042.38. The disclosure for this sale can be found here. 1.36% of the stock is owned by company insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of the business. Whittier Trust Co. raised its position in Extra Space Storage by 4.5% in the 4th quarter. Whittier Trust Co. now owns 1,656 shares of the real estate investment trust’s stock worth $266,000 after buying an additional 72 shares during the last quarter. Massmutual Trust Co. FSB ADV lifted its position in Extra Space Storage by 19.7% during the second quarter. Massmutual Trust Co. FSB ADV now owns 461 shares of the real estate investment trust’s stock valued at $72,000 after purchasing an additional 76 shares during the period. QRG Capital Management Inc. lifted its position in Extra Space Storage by 5.2% during the first quarter. QRG Capital Management Inc. now owns 1,588 shares of the real estate investment trust’s stock valued at $233,000 after purchasing an additional 78 shares during the period. Bank Julius Baer & Co. Ltd Zurich boosted its holdings in Extra Space Storage by 19.1% in the fourth quarter. Bank Julius Baer & Co. Ltd Zurich now owns 706 shares of the real estate investment trust’s stock worth $113,000 after purchasing an additional 113 shares during the last quarter. Finally, Parkside Financial Bank & Trust grew its position in Extra Space Storage by 30.1% in the 4th quarter. Parkside Financial Bank & Trust now owns 515 shares of the real estate investment trust’s stock worth $83,000 after purchasing an additional 119 shares during the period. 99.11% of the stock is 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.