Extra Space Storage (NYSE:EXR) Rating Increased to Hold at StockNews.com

StockNews.com upgraded shares of Extra Space Storage (NYSE:EXR) from a sell rating to a hold rating in a report released on Tuesday.

Other analysts also recently issued reports about the company. Scotiabank increased their price objective on Extra Space Storage from $140.00 to $159.00 and gave the company a sector underperform rating in a report on Friday, July 19th. Barclays increased their price target on Extra Space Storage from $157.00 to $158.00 and gave the stock an overweight rating in a report on Monday, May 20th. Raymond James increased their price target on Extra Space Storage from $160.00 to $175.00 and gave the stock an outperform rating in a report on Tuesday. Citigroup decreased their price target on Extra Space Storage from $168.00 to $160.00 and set a neutral rating for the company in a report on Friday, June 7th. Finally, Evercore ISI increased their price target on Extra Space Storage from $140.00 to $151.00 and gave the stock an in-line rating in a report on Monday, July 15th. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating and five have issued a buy rating to the company’s stock. According to data from MarketBeat, Extra Space Storage has a consensus rating of Hold and a consensus target price of $157.67.

Extra Space Storage Stock Performance

NYSE EXR opened at $164.61 on Tuesday. The company has a market capitalization of $34.85 billion, a price-to-earnings ratio of 36.66, a PEG ratio of 3.41 and a beta of 0.83. Extra Space Storage has a twelve month low of $101.19 and a twelve month high of $171.46. The stock has a fifty day simple moving average of $154.38 and a 200 day simple moving average of $147.36. The company has a quick ratio of 0.15, a current ratio of 0.15 and a debt-to-equity ratio of 0.73.

Extra Space Storage Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, June 28th. Stockholders of record on Friday, June 14th were given a dividend of $1.62 per share. The ex-dividend date of this dividend was Friday, June 14th. This represents a $6.48 dividend on an annualized basis and a dividend yield of 3.94%. Extra Space Storage’s dividend payout ratio (DPR) is presently 144.32%.

Insider Transactions at Extra Space Storage

In related news, Director Joseph J. Bonner sold 677 shares of the firm’s stock in a transaction dated Friday, June 7th. The shares were sold at an average price of $148.22, for a total value of $100,344.94. Following the transaction, the director now owns 5,229 shares of the company’s stock, valued at approximately $775,042.38. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. In related news, CEO Joseph D. Margolis sold 7,500 shares of the firm’s stock in a transaction dated 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 of the company’s stock, valued at approximately $4,835,260.20. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director Joseph J. Bonner sold 677 shares of the firm’s stock in a transaction dated Friday, June 7th. The shares were sold at an average price of $148.22, for a total transaction of $100,344.94. Following the completion of the transaction, the director now directly owns 5,229 shares in the company, valued at approximately $775,042.38. The disclosure for this sale can be found here. Insiders own 1.36% of the company’s stock.

Institutional Investors Weigh In On Extra Space Storage

Several institutional investors and hedge funds have recently added to or reduced their stakes in EXR. EdgeRock Capital LLC purchased a new stake in Extra Space Storage in the 2nd quarter valued at about $25,000. Creekmur Asset Management LLC purchased a new stake in Extra Space Storage in the 4th quarter valued at about $26,000. Blue Trust Inc. increased its stake in Extra Space Storage by 540.5% in the 2nd 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 during the last quarter. Livforsakringsbolaget Skandia Omsesidigt increased its stake in Extra Space Storage by 200.0% in the 4th quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 300 shares of the real estate investment trust’s stock valued at $48,000 after buying an additional 200 shares during the last quarter. Finally, Massmutual Trust Co. FSB ADV increased its stake in Extra Space Storage by 19.7% in the 2nd quarter. Massmutual Trust Co. FSB ADV now owns 461 shares of the real estate investment trust’s stock valued at $72,000 after buying an additional 76 shares during the last quarter. Hedge funds and other institutional investors own 99.11% of the company’s stock.

About Extra Space Storage

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.