Barclays Issues Positive Forecast for Extra Space Storage (NYSE:EXR) Stock Price

Extra Space Storage (NYSE:EXR) had its price objective boosted by Barclays from $164.00 to $170.00 in a research note published on Thursday morning,Benzinga reports. They currently have an overweight rating on the real estate investment trust’s stock.

Several other equities research analysts have also issued reports on the stock. Truist Financial raised their price target on shares of Extra Space Storage from $142.00 to $146.00 and gave the stock a “hold” rating in a research note on Tuesday, January 20th. Morgan Stanley reduced their price objective 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. Scotiabank boosted their target price on Extra Space Storage from $145.00 to $156.00 and gave the company a “sector perform” rating in a research note on Monday. Mizuho upped their price target on Extra Space Storage from $137.00 to $143.00 and gave the company an “outperform” rating in a research report on Monday, January 12th. Finally, Wells Fargo & Company decreased their price objective on Extra Space Storage from $160.00 to $150.00 and set an “overweight” rating for the company in a report on Thursday, February 5th. Five research analysts have rated the stock with a Buy rating, ten have assigned a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $145.13.

Extra Space Storage Trading Down 2.0%

Shares of Extra Space Storage stock opened at $147.32 on Thursday. The firm has a market cap of $31.11 billion, a PE ratio of 32.03, a P/E/G ratio of 3.02 and a beta of 1.24. Extra Space Storage has a 1 year low of $121.03 and a 1 year high of $160.58. The company has a debt-to-equity ratio of 0.92, a current ratio of 0.39 and a quick ratio of 0.39. The stock has a fifty day moving average price of $141.88 and a 200-day moving average price of $139.64.

Extra Space Storage (NYSE:EXR) last posted its quarterly earnings results on Thursday, February 19th. The real estate investment trust reported $2.08 earnings per share for the quarter, beating the consensus estimate of $2.03 by $0.05. Extra Space Storage had a net margin of 28.84% and a return on equity of 6.79%. The company had revenue of $857.47 million during the quarter, compared to analyst estimates of $732.92 million. During the same quarter in the prior year, the business earned $2.03 earnings per share. The firm’s revenue for the quarter was up 4.3% on a year-over-year basis. Extra Space Storage has set its FY 2026 guidance at 8.050-8.350 EPS. Equities research analysts anticipate that Extra Space Storage will post 8.1 EPS for the current year.

Extra Space Storage Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, March 31st. Stockholders of record on Monday, March 16th will be given a $1.62 dividend. The ex-dividend date is Monday, March 16th. This represents a $6.48 annualized dividend and a dividend yield of 4.4%. Extra Space Storage’s payout ratio is 140.87%.

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in the stock. Avalon Trust Co bought a new stake in shares of Extra Space Storage during the third quarter valued at about $28,000. Caitong International Asset Management Co. Ltd purchased a new position in Extra Space Storage during the third quarter valued at approximately $28,000. Reflection Asset Management bought a new stake in Extra Space Storage during the 4th quarter worth approximately $26,000. Versant Capital Management Inc lifted its stake 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 worth $30,000 after purchasing an additional 80 shares in the last quarter. Finally, Davis Capital Management bought a new position in Extra Space Storage in the 3rd quarter valued at $35,000. 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.