Extra Space Storage (NYSE:EXR) Rating Lowered to Underperform at Bank of America

Extra Space Storage (NYSE:EXR) was downgraded by stock analysts at Bank of America from a “neutral” rating to an “underperform” rating in a research note issued on Thursday, Marketbeat.com reports. They currently have a $143.00 price objective on the real estate investment trust’s stock. Bank of America‘s target price indicates a potential upside of 1.02% from the company’s current price.

A number of other analysts also recently issued reports on the company. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Extra Space Storage in a report on Thursday, January 22nd. Morgan Stanley lowered their price target on Extra Space Storage from $155.00 to $152.00 and set an “equal weight” rating for the company in a report on Friday, December 5th. Royal Bank Of Canada reduced their price objective on shares of Extra Space Storage from $148.00 to $146.00 and set a “sector perform” rating for the company in a research report on Friday, November 7th. UBS Group dropped their target price on shares of Extra Space Storage from $156.00 to $148.00 and set a “buy” rating on the stock in a research report on Thursday, January 8th. Finally, Barclays restated an “overweight” rating and issued a $164.00 price objective on shares of Extra Space Storage in a research note on Tuesday, January 13th. Six equities research analysts have rated the stock with a Buy rating, nine have given a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $145.33.

Extra Space Storage Stock Performance

Shares of Extra Space Storage stock opened at $141.55 on Thursday. The business has a 50-day simple moving average of $135.39 and a 200-day simple moving average of $139.01. The company has a market cap of $30.04 billion, a PE ratio of 31.60, a P/E/G ratio of 2.66 and a beta of 1.27. Extra Space Storage has a one year low of $121.03 and a one year high of $162.77. The company has a debt-to-equity ratio of 0.89, a quick ratio of 0.24 and a current ratio of 0.24.

Institutional Trading of Extra Space Storage

Institutional investors have recently modified their holdings of the business. Avalon Trust Co acquired a new stake in shares of Extra Space Storage in the third quarter valued at approximately $28,000. Caitong International Asset Management Co. Ltd acquired a new position in Extra Space Storage in the third quarter valued at $28,000. Versant Capital Management Inc grew its holdings in Extra Space Storage by 60.2% in the 3rd quarter. Versant Capital Management Inc now owns 213 shares of the real estate investment trust’s stock valued at $30,000 after buying an additional 80 shares during the period. Davis Capital Management purchased a new position in shares of Extra Space Storage during the 3rd quarter worth about $35,000. Finally, Rosenberg Matthew Hamilton grew its holdings in Extra Space Storage by 442.9% in 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. 99.11% of the stock is currently owned by hedge funds and other institutional investors.

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.