Extra Space Storage (NYSE:EXR) Raised to “Moderate Buy” at Raymond James Financial

Extra Space Storage (NYSE:EXR) was upgraded by research analysts at Raymond James Financial to a “moderate buy” rating in a research report issued on Wednesday,Zacks.com reports.

A number of other research firms also recently weighed in on EXR. Mizuho raised their price target on shares of Extra Space Storage from $150.00 to $155.00 and gave the company an “outperform” rating in a report on Wednesday, May 27th. Barclays upped their price objective on shares of Extra Space Storage from $170.00 to $172.00 and gave the stock an “overweight” rating in a report on Friday, July 10th. Weiss Ratings reissued a “hold (c)” rating on shares of Extra Space Storage in a research report on Tuesday, April 21st. Truist Financial increased their target price on shares of Extra Space Storage from $140.00 to $148.00 and gave the stock a “hold” rating in a research report on Wednesday, June 17th. Finally, BNP Paribas Exane upgraded Extra Space Storage from a “neutral” rating to an “outperform” rating and set a $154.00 target price on the stock in a report on Wednesday, March 18th. Six investment analysts have rated the stock with a Buy rating and ten have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $146.27.

Extra Space Storage Trading Up 3.8%

NYSE:EXR opened at $150.16 on Wednesday. The company has a market capitalization of $31.72 billion, a P/E ratio of 33.67, a P/E/G ratio of 4.48 and a beta of 1.19. The stock’s 50 day moving average price is $145.21 and its 200 day moving average price is $142.09. The company has a debt-to-equity ratio of 0.93, a quick ratio of 0.37 and a current ratio of 0.37. Extra Space Storage has a 52 week low of $125.71 and a 52 week high of $155.19.

Extra Space Storage (NYSE:EXR) last posted its earnings results on Tuesday, April 28th. The real estate investment trust reported $1.14 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.01 by ($0.87). The business had revenue of $856.03 million during the quarter, compared to analyst estimates of $851.35 million. Extra Space Storage had a net margin of 27.66% and a return on equity of 6.65%. Extra Space Storage’s revenue was up 4.4% compared to the same quarter last year. During the same quarter last year, the firm earned $2.00 earnings per share. Extra Space Storage has set its FY 2026 guidance at 8.050-8.350 EPS. On average, research analysts forecast that Extra Space Storage will post 8.26 EPS for the current fiscal year.

Insider Activity at Extra Space Storage

In other news, EVP Gwyn Goodson Mcneal sold 3,300 shares of the company’s stock in a transaction that occurred on Thursday, June 11th. The stock was sold at an average price of $150.00, for a total transaction of $495,000.00. Following the completion of the transaction, the executive vice president directly owned 37,374 shares in the company, valued at $5,606,100. The trade was a 8.11% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.96% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Extra Space Storage

Several hedge funds and other institutional investors have recently modified their holdings of EXR. Reflection Asset Management bought a new position in Extra Space Storage during the fourth quarter worth $26,000. Caitong International Asset Management Co. Ltd acquired a new position in Extra Space Storage during the 3rd quarter valued at $28,000. Cassaday & Co Wealth Management LLC acquired a new position in Extra Space Storage during the 1st quarter valued at $30,000. Rosenberg Matthew Hamilton boosted its holdings in Extra Space Storage by 442.9% in the 4th quarter. Rosenberg Matthew Hamilton now owns 266 shares of the real estate investment trust’s stock valued at $35,000 after purchasing an additional 217 shares during the period. Finally, CoreCap Advisors LLC boosted its holdings in Extra Space Storage by 975.0% in the 2nd quarter. CoreCap Advisors LLC now owns 258 shares of the real estate investment trust’s stock valued at $37,000 after purchasing an additional 234 shares during the period. Institutional investors and hedge funds 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.