Extra Space Storage (NYSE:EXR) Price Target Lowered to $153.00 at JPMorgan Chase & Co.

Extra Space Storage (NYSE:EXR) had its price target decreased by JPMorgan Chase & Co. from $157.00 to $153.00 in a research note released on Monday,Benzinga reports. JPMorgan Chase & Co. currently has a neutral rating on the real estate investment trust’s stock.

Several other analysts have also recently commented on the stock. The Goldman Sachs Group reaffirmed a “neutral” rating and issued a $160.00 target price on shares of Extra Space Storage in a research note on Thursday, July 30th. BMO Capital Markets raised shares of Extra Space Storage from a “market perform” rating to an “outperform” rating and increased their price target for the stock from $160.00 to $170.00 in a research note on Thursday, August 27th. Scotiabank lifted their price objective on Extra Space Storage from $157.00 to $158.00 and gave the company a “sector perform” rating in a research note on Tuesday, August 18th. Wall Street Zen raised Extra Space Storage from a “sell” rating to a “hold” rating in a research report on Sunday, August 9th. Finally, Raymond James Financial started coverage on shares of Extra Space Storage in a research note on Thursday, July 16th. They set an “outperform” rating and a $44.00 price objective on the stock. Seven equities research analysts have rated the stock with a Buy rating and nine have assigned a Hold rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $149.47.

Extra Space Storage Price Performance

NYSE:EXR opened at $137.51 on Monday. The firm has a market cap of $29.05 billion, a price-to-earnings ratio of 30.36, a price-to-earnings-growth ratio of 3.92 and a beta of 1.16. The company has a current ratio of 1.56, a quick ratio of 1.56 and a debt-to-equity ratio of 0.96. The company’s 50-day moving average is $144.59 and its two-hundred day moving average is $142.96. Extra Space Storage has a 12-month low of $125.71 and a 12-month high of $158.88.

Extra Space Storage (NYSE:EXR) last released its quarterly earnings results on Tuesday, July 28th. The real estate investment trust reported $1.25 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.16 by $0.09. The company had revenue of $874.15 million for the quarter, compared to analysts’ expectations of $874.99 million. Extra Space Storage had a net margin of 27.80% and a return on equity of 6.70%. The firm’s revenue for the quarter was up 3.9% compared to the same quarter last year. During the same period last year, the company earned $2.05 EPS. Extra Space Storage has set its FY 2026 guidance at 8.250-8.400 EPS. Research analysts expect that Extra Space Storage will post 8.34 EPS for the current year.

Extra Space Storage Announces Dividend

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

Hedge Funds Weigh In On Extra Space Storage

Hedge funds and other institutional investors have recently made changes to their positions in the business. VIRGINIA RETIREMENT SYSTEMS ET Al acquired a new stake in shares of Extra Space Storage during the 2nd quarter valued at $5,535,000. Nomura Asset Management Co. Ltd. grew its holdings in shares of Extra Space Storage by 2.5% in the 4th quarter. Nomura Asset Management Co. Ltd. now owns 391,044 shares of the real estate investment trust’s stock worth $50,922,000 after acquiring an additional 9,492 shares during the last quarter. Norges Bank acquired a new stake in shares of Extra Space Storage during the fourth quarter worth $1,219,606,000. Harbour Investments Inc. raised its position in shares of Extra Space Storage by 15,978.4% during the fourth quarter. Harbour Investments Inc. now owns 8,200 shares of the real estate investment trust’s stock worth $1,068,000 after purchasing an additional 8,149 shares during the period. Finally, SG Americas Securities LLC lifted its holdings in shares of Extra Space Storage by 54.8% during the first quarter. SG Americas Securities LLC now owns 292,159 shares of the real estate investment trust’s stock valued at $38,311,000 after purchasing an additional 103,443 shares during the last quarter. 99.11% of the stock is currently owned by institutional investors and hedge funds.

Extra Space Storage Company Profile

Extra Space Storage Inc is a real estate investment trust (REIT) that owns, operates, manages and acquires self-storage facilities. Its properties provide individuals and businesses with rental storage units in a range of sizes, along with vehicle, boat and recreational vehicle storage at select locations.

The company also provides third-party management services for self-storage properties owned by other investors and operators. Its services generally include facility operations, marketing, customer support, revenue management and technology solutions.