Extra Space Storage (NYSE:EXR) Now Covered by Analysts at StockNews.com

Investment analysts at StockNews.com initiated coverage on shares of Extra Space Storage (NYSE:EXR – Get Rating) in a research report issued on Thursday. The brokerage set a “hold” rating on the real estate investment trust’s stock.

A number of other research firms have also issued reports on EXR. Citigroup reduced their price target on shares of Extra Space Storage from $175.00 to $170.00 and set a “neutral” rating for the company in a research report on Monday, December 12th. KeyCorp reduced their price target on shares of Extra Space Storage from $220.00 to $190.00 and set an “overweight” rating for the company in a research report on Wednesday, November 30th. Truist Financial raised their price target on shares of Extra Space Storage from $160.00 to $165.00 and gave the stock a “hold” rating in a research report on Wednesday, March 8th. Raymond James raised shares of Extra Space Storage from a “market perform” rating to an “outperform” rating and set a $170.00 target price for the company in a report on Monday, January 9th. Finally, Evercore ISI lowered shares of Extra Space Storage from an “in-line” rating to an “underperform” rating and cut their target price for the company from $162.00 to $150.00 in a report on Monday, November 21st. Two investment analysts have rated the stock with a sell rating, six have issued a hold rating and three have given a buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $170.89.

Extra Space Storage Stock Up 0.1 %

NYSE:EXR opened at $157.58 on Thursday. Extra Space Storage has a fifty-two week low of $139.97 and a fifty-two week high of $222.35. The stock has a market capitalization of $21.27 billion, a P/E ratio of 24.58, a P/E/G ratio of 2.24 and a beta of 0.54. The company has a debt-to-equity ratio of 1.80, a quick ratio of 0.54 and a current ratio of 0.54. The company’s 50-day simple moving average is $157.86 and its 200-day simple moving average is $163.72.

Extra Space Storage (NYSE:EXR – Get Rating) last announced its quarterly earnings data on Wednesday, February 22nd. The real estate investment trust reported $1.52 EPS for the quarter, missing the consensus estimate of $2.08 by ($0.56). The company had revenue of $506.70 million during the quarter, compared to analysts’ expectations of $433.39 million. Extra Space Storage had a net margin of 45.52% and a return on equity of 22.01%. The business’s revenue for the quarter was up 18.4% compared to the same quarter last year. During the same period in the previous year, the business earned $1.91 earnings per share. On average, equities analysts anticipate that Extra Space Storage will post 8.56 earnings per share for the current fiscal year.

Insider Transactions at Extra Space Storage

In related news, COO Matthew T. Herrington sold 650 shares of the business’s stock in a transaction dated Wednesday, March 8th. The shares were sold at an average price of $165.75, for a total value of $107,737.50. Following the sale, the chief operating officer now directly owns 6,405 shares in the company, valued at approximately $1,061,628.75. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. In related news, COO Matthew T. Herrington sold 650 shares of the business’s stock in a transaction dated Wednesday, March 8th. The shares were sold at an average price of $165.75, for a total value of $107,737.50. Following the sale, the chief operating officer now directly owns 6,405 shares in the company, valued at approximately $1,061,628.75. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CMO Samrat Sondhi sold 6,290 shares of the business’s stock in a transaction dated Monday, February 27th. The shares were sold at an average price of $161.88, for a total transaction of $1,018,225.20. Following the completion of the sale, the chief marketing officer now owns 82,653 shares in the company, valued at $13,379,867.64. The disclosure for this sale can be found here. Insiders have sold a total of 8,440 shares of company stock worth $1,371,963 in the last quarter. Company insiders own 1.52% of the company’s stock.

Institutional Trading of Extra Space Storage

Institutional investors and hedge funds have recently bought and sold shares of the stock. Massachusetts Financial Services Co. MA increased its stake in Extra Space Storage by 0.3% during the third quarter. Massachusetts Financial Services Co. MA now owns 3,648,605 shares of the real estate investment trust’s stock worth $630,149,000 after purchasing an additional 10,610 shares during the period. Geode Capital Management LLC increased its stake in Extra Space Storage by 1.2% during the fourth quarter. Geode Capital Management LLC now owns 3,135,848 shares of the real estate investment trust’s stock worth $460,800,000 after purchasing an additional 38,582 shares during the period. FMR LLC increased its stake in Extra Space Storage by 4.3% during the second quarter. FMR LLC now owns 2,608,764 shares of the real estate investment trust’s stock worth $443,803,000 after purchasing an additional 107,178 shares during the period. Norges Bank purchased a new stake in Extra Space Storage during the fourth quarter worth about $380,823,000. Finally, Pictet Asset Management SA increased its stake in Extra Space Storage by 7.5% during the third quarter. Pictet Asset Management SA now owns 2,084,840 shares of the real estate investment trust’s stock worth $359,005,000 after purchasing an additional 145,688 shares during the period. 95.32% of the stock is currently owned by hedge funds and other institutional investors.

About Extra Space Storage

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Extra Space Storage, Inc is a real estate investment trust. It operates through the following segments: Self-Storage Operations and Tenant Reinsurance. The Self-Storage Operations segment includes rental operations of wholly-owned stores. The Tenant Reinsurance segment includes reinsurance of risks relating to the loss of goods stored by tenants in stores.