Extra Space Storage (NYSE:EXR) Research Coverage Started at Raymond James Financial

Raymond James Financial began coverage on shares of Extra Space Storage (NYSE:EXR) in a research note released on Thursday morning. The brokerage issued an outperform rating and a $44.00 target price on the real estate investment trust’s stock.

Several other equities analysts have also issued reports on the company. JPMorgan Chase & Co. lifted their price target on Extra Space Storage from $142.00 to $144.00 and gave the stock a “neutral” rating in a research report on Monday, March 23rd. Wells Fargo & Company upped their price target on shares of Extra Space Storage from $148.00 to $154.00 and gave the stock an “overweight” rating in a research note on Monday, June 1st. Weiss Ratings reissued a “hold (c)” rating on shares of Extra Space Storage in a research report on Tuesday, April 21st. Mizuho raised their price objective on shares of Extra Space Storage from $150.00 to $155.00 and gave the company an “outperform” rating in a research note on Wednesday, May 27th. Finally, UBS Group lifted their target price on shares of Extra Space Storage from $158.00 to $163.00 and gave the stock a “buy” rating in a report on Friday, July 10th. Six equities research analysts have rated the stock with a Buy rating and ten have assigned a Hold rating to the stock. According to data from MarketBeat.com, Extra Space Storage currently has a consensus rating of “Hold” and an average target price of $146.27.

Extra Space Storage Stock Down 1.3%

EXR stock opened at $148.38 on Thursday. Extra Space Storage has a twelve month low of $125.71 and a twelve month high of $155.19. The company has a quick ratio of 0.37, a current ratio of 0.37 and a debt-to-equity ratio of 0.93. The firm has a market cap of $31.35 billion, a PE ratio of 33.27, a price-to-earnings-growth ratio of 4.59 and a beta of 1.19. The business has a 50 day moving average of $145.31 and a 200 day moving average of $142.13.

Extra Space Storage (NYSE:EXR) last announced its quarterly earnings data 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). Extra Space Storage had a net margin of 27.66% and a return on equity of 6.65%. The company had revenue of $856.03 million for the quarter, compared to analysts’ expectations of $851.35 million. During the same quarter in the previous year, the firm posted $2.00 EPS. The firm’s quarterly revenue was up 4.4% compared to the same quarter last year. 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.

Extra Space Storage Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, June 30th. Stockholders of record on Monday, June 15th were issued a dividend of $1.62 per share. This represents a $6.48 dividend on an annualized basis and a dividend yield of 4.4%. The ex-dividend date of this dividend was Monday, June 15th. Extra Space Storage’s dividend payout ratio is presently 145.29%.

Insider Activity at Extra Space Storage

In related news, EVP Gwyn Goodson Mcneal sold 3,300 shares of the stock in a transaction 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 sale, the executive vice president directly owned 37,374 shares of the company’s stock, valued at $5,606,100. This trade represents a 8.11% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. 0.96% of the stock is owned by company insiders.

Hedge Funds Weigh In On Extra Space Storage

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Caitong International Asset Management Co. Ltd purchased a new stake in shares of Extra Space Storage during the 3rd quarter valued at about $28,000. Reflection Asset Management purchased a new position in shares of Extra Space Storage during the fourth quarter valued at approximately $26,000. Cassaday & Co Wealth Management LLC purchased a new position in shares of Extra Space Storage during the first quarter valued at approximately $30,000. CoreCap Advisors LLC lifted its position in Extra Space Storage by 975.0% during the second 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. Finally, Rosenberg Matthew Hamilton lifted its position in Extra Space Storage by 442.9% during the fourth 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. Institutional investors own 99.11% of the company’s stock.

Extra Space Storage Company Profile

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.