Brokerages Set Extra Space Storage Inc (NYSE:EXR) Target Price at $148.93

Shares of Extra Space Storage Inc (NYSE:EXR) have received an average rating of “Hold” from the sixteen brokerages that are covering the firm, Marketbeat.com reports. Nine research analysts have rated the stock with a hold recommendation and seven have issued a buy recommendation on the company. The average 1 year price objective among brokerages that have issued a report on the stock in the last year is $148.9333.

EXR has been the subject of several analyst reports. Barclays raised their target price on shares of Extra Space Storage from $170.00 to $172.00 and gave the company an “overweight” rating in a research note on Friday, July 10th. Raymond James Financial started coverage on shares of Extra Space Storage in a research note on Thursday, July 16th. They issued an “outperform” rating and a $44.00 price target for the company. Weiss Ratings raised shares of Extra Space Storage from a “hold (c)” rating to a “hold (c+)” rating in a research report on Friday, August 7th. Wall Street Zen upgraded shares of Extra Space Storage from a “sell” rating to a “hold” rating in a research note on Sunday, August 9th. Finally, Scotiabank upped their target price on shares of Extra Space Storage from $157.00 to $158.00 and gave the company a “sector perform” rating in a report on Tuesday, August 18th.

Extra Space Storage Price Performance

NYSE:EXR opened at $139.23 on Friday. Extra Space Storage has a 52-week low of $125.71 and a 52-week high of $158.88. The company has a market cap of $29.41 billion, a P/E ratio of 30.73, a P/E/G ratio of 4.00 and a beta of 1.16. The company has a debt-to-equity ratio of 0.96, a quick ratio of 1.56 and a current ratio of 1.56. The stock’s 50-day simple moving average is $146.18 and its 200 day simple moving average is $143.74.

Extra Space Storage (NYSE:EXR) last issued its quarterly earnings results on Tuesday, July 28th. The real estate investment trust reported $1.25 EPS for the quarter, beating the consensus estimate of $1.16 by $0.09. Extra Space Storage had a return on equity of 6.70% and a net margin of 27.80%.The firm had revenue of $874.15 million during the quarter, compared to analysts’ expectations of $874.99 million. During the same period in the prior year, the firm posted $2.05 earnings per share. The business’s quarterly revenue was up 3.9% compared to the same quarter last year. Extra Space Storage has set its FY 2026 guidance at 8.250-8.400 EPS. As a group, sell-side analysts forecast that Extra Space Storage will post 8.33 EPS for the current fiscal year.

Extra Space Storage Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, September 30th. Shareholders of record on Tuesday, September 15th will be given a dividend of $1.62 per share. This represents a $6.48 dividend on an annualized basis and a yield of 4.7%. The ex-dividend date of this dividend is Tuesday, September 15th. Extra Space Storage’s payout ratio is 143.05%.

Insider Transactions at Extra Space Storage

In other Extra Space Storage news, EVP Gwyn 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 value of $495,000.00. Following the sale, the executive vice president owned 37,374 shares in the company, valued at $5,606,100. This represents a 8.11% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 0.96% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Extra Space Storage

Several hedge funds have recently added to or reduced their stakes in the business. Reflection Asset Management acquired a new stake in shares of Extra Space Storage during the 4th quarter worth about $26,000. Raiffeisen Bank International AG grew its stake in Extra Space Storage by 82.4% in the 2nd quarter. Raiffeisen Bank International AG now owns 186 shares of the real estate investment trust’s stock valued at $28,000 after buying an additional 84 shares during the last quarter. Caitong International Asset Management Co. Ltd acquired a new position in Extra Space Storage in the 3rd quarter valued at about $28,000. Cassaday & Co Wealth Management LLC bought a new position in Extra Space Storage in the 1st quarter valued at about $30,000. Finally, CoreCap Advisors LLC raised 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 acquiring 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.