Extra Space Storage Inc. (NYSE:EXR) Given Consensus Recommendation of “Moderate Buy” by Brokerages

Extra Space Storage Inc. (NYSE:EXRGet Rating) has been given a consensus recommendation of “Moderate Buy” by the twelve analysts that are covering the firm, Marketbeat Ratings reports. One analyst has rated the stock with a sell recommendation, two have given a hold recommendation and seven have issued a buy recommendation on the company. The average 1 year price target among analysts that have issued a report on the stock in the last year is $206.09.

Several equities research analysts have recently issued reports on the stock. UBS Group lowered their price objective on shares of Extra Space Storage from $234.00 to $197.00 and set a “buy” rating for the company in a research report on Monday, July 25th. StockNews.com downgraded shares of Extra Space Storage from a “buy” rating to a “hold” rating in a research report on Thursday, August 11th. JPMorgan Chase & Co. raised shares of Extra Space Storage from a “neutral” rating to an “overweight” rating and decreased their target price for the company from $224.00 to $193.00 in a research report on Wednesday, June 22nd. Jefferies Financial Group decreased their target price on shares of Extra Space Storage from $228.00 to $184.00 and set a “hold” rating for the company in a research report on Thursday, June 30th. Finally, Citigroup raised their target price on shares of Extra Space Storage to $229.00 in a research report on Monday, August 22nd.

Extra Space Storage Stock Down 1.3 %

Shares of EXR stock opened at $184.19 on Friday. The firm has a fifty day moving average of $194.02 and a 200-day moving average of $189.71. The company has a quick ratio of 0.41, a current ratio of 0.41 and a debt-to-equity ratio of 1.64. Extra Space Storage has a 12-month low of $156.70 and a 12-month high of $228.84. The company has a market capitalization of $24.67 billion, a price-to-earnings ratio of 27.74, a P/E/G ratio of 2.60 and a beta of 0.48.

Extra Space Storage Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, September 30th. Stockholders of record on Thursday, September 15th will be given a $1.50 dividend. This represents a $6.00 dividend on an annualized basis and a dividend yield of 3.26%. The ex-dividend date is Wednesday, September 14th. Extra Space Storage’s dividend payout ratio (DPR) is presently 90.36%.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of EXR. Norges Bank bought a new position in shares of Extra Space Storage in the 4th quarter valued at about $439,657,000. Zimmer Partners LP lifted its stake in shares of Extra Space Storage by 1,875.0% during the 2nd quarter. Zimmer Partners LP now owns 987,500 shares of the real estate investment trust’s stock worth $167,994,000 after buying an additional 937,500 shares during the last quarter. Ceredex Value Advisors LLC acquired a new stake in shares of Extra Space Storage during the 1st quarter worth about $148,793,000. Invesco Ltd. lifted its stake in shares of Extra Space Storage by 57.5% during the 4th quarter. Invesco Ltd. now owns 1,734,054 shares of the real estate investment trust’s stock worth $393,162,000 after buying an additional 632,809 shares during the last quarter. Finally, State Street Corp lifted its stake in shares of Extra Space Storage by 7.2% during the 1st quarter. State Street Corp now owns 9,119,086 shares of the real estate investment trust’s stock worth $1,874,884,000 after buying an additional 612,842 shares during the last quarter. Institutional investors own 95.10% of the company’s stock.

About Extra Space Storage

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Extra Space Storage Inc, headquartered in Salt Lake City, Utah, is a self-administered and self-managed REIT and a member of the S&P 500. As of September 30, 2020, the Company owned and/or operated 1,906 self-storage stores in 40 states, Washington, DC and Puerto Rico. The Company's stores comprise approximately 1.4 million units and approximately 147.5 million square feet of rentable space.

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Analyst Recommendations for Extra Space Storage (NYSE:EXR)

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