Extra Space Storage (NYSE:EXR) Upgraded at Wall Street Zen

Wall Street Zen upgraded shares of Extra Space Storage (NYSE:EXR) from a sell rating to a hold rating in a research note published on Saturday.

Other equities analysts also recently issued reports about the stock. Bank of America raised shares of Extra Space Storage from an “underperform” rating to a “neutral” rating and lifted their target price for the stock from $147.00 to $156.00 in a research note on Tuesday, June 16th. Barclays raised their price target 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. Truist Financial upped their price objective on Extra Space Storage from $140.00 to $148.00 and gave the company a “hold” rating in a report on Wednesday, June 17th. Wells Fargo & Company increased their price objective on Extra Space Storage from $148.00 to $154.00 and gave the stock an “overweight” rating in a research report on Monday, June 1st. Finally, Weiss Ratings reissued a “hold (c)” rating on shares of Extra Space Storage in a research note on Tuesday, April 21st. Six equities research analysts have rated the stock with a Buy rating and ten have issued a Hold rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $146.27.

Extra Space Storage Stock Down 0.5%

Shares of EXR opened at $147.35 on Friday. Extra Space Storage has a 52-week low of $125.71 and a 52-week 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 stock has a fifty day simple moving average of $145.36 and a two-hundred day simple moving average of $142.32. The company has a market capitalization of $31.13 billion, a PE ratio of 33.04, a price-to-earnings-growth ratio of 4.59 and a beta of 1.19.

Extra Space Storage (NYSE:EXR) last announced its quarterly earnings results on Tuesday, April 28th. The real estate investment trust reported $1.14 earnings per share for the quarter, missing the consensus estimate 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 firm had revenue of $856.03 million for the quarter, compared to analyst estimates of $851.35 million. During the same period in the previous year, the firm posted $2.00 EPS. The company’s 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. As a group, equities analysts forecast that Extra Space Storage will post 8.26 EPS for the current year.

Extra Space Storage Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, June 30th. Stockholders of record on Monday, June 15th were paid a $1.62 dividend. 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 payout ratio is 145.29%.

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 shares were sold at an average price of $150.00, for a total value of $495,000.00. Following the transaction, the executive vice president directly owned 37,374 shares in the company, valued at approximately $5,606,100. This represents a 8.11% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Corporate insiders own 0.96% of the company’s stock.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in EXR. Caitong International Asset Management Co. Ltd acquired a new stake in shares of Extra Space Storage in the third quarter valued at $28,000. Reflection Asset Management acquired a new position in Extra Space Storage during the 4th quarter worth about $26,000. Cassaday & Co Wealth Management LLC purchased a new position in Extra Space Storage during the 1st quarter valued at about $30,000. CoreCap Advisors LLC grew its position 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 acquiring an additional 234 shares in the last quarter. Finally, DV Equities LLC acquired a new position in Extra Space Storage in the 4th quarter valued at about $39,000. 99.11% of the stock is currently owned by institutional investors and hedge funds.

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.