Extra Space Storage (NYSE:EXR) Price Target Raised to $156.00

Extra Space Storage (NYSE:EXR) had its price target boosted by Scotiabank from $145.00 to $156.00 in a research report sent to investors on Monday morning,Benzinga reports. They currently have a sector perform rating on the real estate investment trust’s stock.

EXR has been the subject of several other research reports. Bank of America downgraded Extra Space Storage from a “neutral” rating to an “underperform” rating and set a $143.00 price target for the company. in a research note on Thursday, February 5th. Morgan Stanley decreased their target price on Extra Space Storage from $155.00 to $152.00 and set an “equal weight” rating for the company in a research report on Friday, December 5th. Evercore reiterated a “cautious” rating on shares of Extra Space Storage in a report on Monday, November 3rd. Truist Financial lifted their price target on shares of Extra Space Storage from $142.00 to $146.00 and gave the company a “hold” rating in a research report on Tuesday, January 20th. Finally, UBS Group decreased their price objective on shares of Extra Space Storage from $156.00 to $148.00 and set a “buy” rating for the company in a report on Thursday, January 8th. Five research analysts have rated the stock with a Buy rating, ten have assigned a Hold rating and one has given a Sell rating to the company. According to MarketBeat, Extra Space Storage has a consensus rating of “Hold” and a consensus target price of $144.73.

Extra Space Storage Stock Up 0.4%

Extra Space Storage stock opened at $150.35 on Monday. The company has a market capitalization of $31.74 billion, a P/E ratio of 32.68, a P/E/G ratio of 3.01 and a beta of 1.24. The firm’s fifty day simple moving average is $141.54 and its 200-day simple moving average is $139.59. The company has a current ratio of 0.39, a quick ratio of 0.39 and a debt-to-equity ratio of 0.92. Extra Space Storage has a 1-year low of $121.03 and a 1-year high of $160.58.

Extra Space Storage (NYSE:EXR) last issued its quarterly earnings data on Thursday, February 19th. The real estate investment trust reported $2.08 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.03 by $0.05. The firm had revenue of $857.47 million during the quarter, compared to analysts’ expectations of $732.92 million. Extra Space Storage had a net margin of 28.84% and a return on equity of 6.79%. Extra Space Storage’s revenue for the quarter was up 4.3% on a year-over-year basis. During the same period in the prior year, the company posted $2.03 earnings per share. Extra Space Storage has set its FY 2026 guidance at 8.050-8.350 EPS. Sell-side analysts forecast that Extra Space Storage will post 8.1 earnings per share for the current fiscal year.

Extra Space Storage Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, March 31st. Shareholders of record on Monday, March 16th will be issued a $1.62 dividend. The ex-dividend date of this dividend is Monday, March 16th. This represents a $6.48 dividend on an annualized basis and a yield of 4.3%. Extra Space Storage’s dividend payout ratio is 140.87%.

Institutional Investors Weigh In On Extra Space Storage

Hedge funds have recently made changes to their positions in the stock. Avalon Trust Co bought a new position in Extra Space Storage during the third quarter valued at about $28,000. Caitong International Asset Management Co. Ltd bought a new stake in shares of Extra Space Storage during the third quarter valued at approximately $28,000. Reflection Asset Management acquired a new position in shares of Extra Space Storage in the fourth quarter valued at $26,000. Versant Capital Management Inc lifted its position in Extra Space Storage by 60.2% in the third quarter. Versant Capital Management Inc now owns 213 shares of the real estate investment trust’s stock worth $30,000 after purchasing an additional 80 shares during the period. Finally, Davis Capital Management bought a new position in Extra Space Storage in the third quarter worth $35,000. Institutional investors own 99.11% of the company’s stock.

About Extra Space Storage

Extra Space Storage (NYSE: EXR) is a real estate investment trust that specializes in the ownership, development and operation of self-storage properties. The company provides storage solutions for residential and commercial customers, offering a range of unit sizes, climate-controlled units and specialized options such as vehicle and boat storage. Extra Space Storage markets itself as a customer-focused operator, with online rentals, contactless move-in options and ancillary retail products like packing supplies and insurance to support tenant needs.

Its business model combines property ownership with third-party management and development activities.