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 report sent to investors on Saturday morning.

EXR has been the topic of a number of other reports. JPMorgan Chase & Co. boosted their price objective on Extra Space Storage from $142.00 to $144.00 and gave the company a “neutral” rating in a research note on Monday, March 23rd. Mizuho boosted their price objective on Extra Space Storage from $137.00 to $143.00 and gave the company an “outperform” rating in a research note on Monday, January 12th. Royal Bank Of Canada boosted their price objective on Extra Space Storage from $142.00 to $153.00 and gave the company a “sector perform” rating in a research note on Monday, February 23rd. Scotiabank boosted their price objective on Extra Space Storage from $145.00 to $156.00 and gave the company a “sector perform” rating in a research note on Monday, March 2nd. Finally, Wells Fargo & Company decreased their price objective on Extra Space Storage from $160.00 to $150.00 and set an “overweight” rating on the stock in a research note on Thursday, February 5th. Six equities research analysts have rated the stock with a Buy rating, nine have given a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, Extra Space Storage currently has an average rating of “Hold” and an average target price of $143.80.

Extra Space Storage Stock Performance

Shares of EXR opened at $134.00 on Friday. The firm has a market cap of $28.30 billion, a PE ratio of 29.13, a PEG ratio of 2.69 and a beta of 1.26. The stock’s fifty day moving average price is $140.66 and its two-hundred day moving average price is $138.48. The company has a debt-to-equity ratio of 0.92, a current ratio of 0.39 and a quick ratio of 0.39. Extra Space Storage has a 1 year low of $121.03 and a 1 year high of $155.19.

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

Extra Space Storage Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, March 31st. Investors of record on Monday, March 16th were given a dividend of $1.62 per share. This represents a $6.48 annualized dividend and a yield of 4.8%. The ex-dividend date was Monday, March 16th. Extra Space Storage’s payout ratio is presently 140.87%.

Insider Buying and Selling

In related news, CEO Joseph D. Margolis sold 7,500 shares of the business’s stock in a transaction dated Friday, March 13th. The stock was sold at an average price of $142.08, for a total transaction of $1,065,600.00. Following the completion of the transaction, the chief executive officer directly owned 66,495 shares in the company, valued at $9,447,609.60. The trade was a 10.14% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.96% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Extra Space Storage

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Cibc World Market Inc. lifted its holdings in shares of Extra Space Storage by 19.4% during the 3rd quarter. Cibc World Market Inc. now owns 190,863 shares of the real estate investment trust’s stock worth $26,900,000 after acquiring an additional 30,983 shares during the last quarter. Thrivent Financial for Lutherans increased its stake in Extra Space Storage by 38.2% in the third quarter. Thrivent Financial for Lutherans now owns 589,271 shares of the real estate investment trust’s stock valued at $83,052,000 after acquiring an additional 162,773 shares during the last quarter. Principal Financial Group Inc. raised its position in Extra Space Storage by 6.4% during the third quarter. Principal Financial Group Inc. now owns 6,715,901 shares of the real estate investment trust’s stock valued at $946,540,000 after purchasing an additional 406,146 shares in the last quarter. Resona Asset Management Co. Ltd. raised its position in Extra Space Storage by 6.6% during the third quarter. Resona Asset Management Co. Ltd. now owns 127,235 shares of the real estate investment trust’s stock valued at $17,982,000 after purchasing an additional 7,831 shares in the last quarter. Finally, Metis Global Partners LLC lifted its stake in Extra Space Storage by 28.4% during the third quarter. Metis Global Partners LLC now owns 54,950 shares of the real estate investment trust’s stock worth $7,745,000 after purchasing an additional 12,145 shares during the last quarter. 99.11% of the stock is currently owned by hedge funds and other institutional investors.

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.