Extra Space Storage (NYSE:EXR) Price Target Cut to $160.00 by Analysts at Citigroup

Extra Space Storage (NYSE:EXRFree Report) had its price target reduced by Citigroup from $168.00 to $160.00 in a research note published on Friday morning, Benzinga reports. Citigroup currently has a neutral rating on the real estate investment trust’s stock.

A number of other research analysts have also recently issued reports on the company. Wells Fargo & Company lifted their price target on Extra Space Storage from $150.00 to $160.00 and gave the company an overweight rating in a report on Friday, April 5th. Raymond James reaffirmed an outperform rating and issued a $160.00 price target on shares of Extra Space Storage in a report on Thursday, March 28th. StockNews.com cut Extra Space Storage from a hold rating to a sell rating in a report on Saturday, March 2nd. Scotiabank started coverage on Extra Space Storage in a report on Tuesday, February 13th. They issued a sector underperform rating and a $131.00 price target for the company. Finally, Evercore ISI cut their price target on Extra Space Storage from $145.00 to $139.00 in a report on Wednesday, May 1st. Two investment analysts have rated the stock with a sell rating, six have issued a hold rating and five have assigned a buy rating to the company’s stock. Based on data from MarketBeat, Extra Space Storage currently has a consensus rating of Hold and a consensus price target of $151.83.

Check Out Our Latest Stock Report on EXR

Extra Space Storage Stock Down 0.3 %

Shares of NYSE EXR opened at $148.02 on Friday. The business has a fifty day moving average of $142.80 and a two-hundred day moving average of $144.30. The company has a debt-to-equity ratio of 0.73, a quick ratio of 0.15 and a current ratio of 0.15. Extra Space Storage has a 52-week low of $101.19 and a 52-week high of $164.99. The stock has a market cap of $31.34 billion, a PE ratio of 32.97, a PEG ratio of 3.56 and a beta of 0.81.

Extra Space Storage Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, June 28th. Stockholders of record on Friday, June 14th will be given a dividend of $1.62 per share. The ex-dividend date is Friday, June 14th. This represents a $6.48 annualized dividend and a dividend yield of 4.38%. Extra Space Storage’s payout ratio is currently 144.32%.

Hedge Funds Weigh In On Extra Space Storage

Institutional investors have recently modified their holdings of the stock. Zurcher Kantonalbank Zurich Cantonalbank grew its position in shares of Extra Space Storage by 17.0% during the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 118,087 shares of the real estate investment trust’s stock worth $18,933,000 after buying an additional 17,163 shares during the period. NewEdge Wealth LLC acquired a new position in shares of Extra Space Storage in the 3rd quarter valued at approximately $341,000. Vanguard Personalized Indexing Management LLC grew its position in shares of Extra Space Storage by 110.8% in the 3rd quarter. Vanguard Personalized Indexing Management LLC now owns 11,914 shares of the real estate investment trust’s stock valued at $1,448,000 after purchasing an additional 6,262 shares during the period. Daiwa Securities Group Inc. grew its position in shares of Extra Space Storage by 8.4% in the 4th quarter. Daiwa Securities Group Inc. now owns 2,724,293 shares of the real estate investment trust’s stock valued at $436,786,000 after purchasing an additional 211,395 shares during the period. Finally, Vanguard Group Inc. grew its position in shares of Extra Space Storage by 55.7% in the 3rd quarter. Vanguard Group Inc. now owns 33,686,341 shares of the real estate investment trust’s stock valued at $4,095,585,000 after purchasing an additional 12,055,172 shares during the period. 99.11% of the stock is currently owned by institutional investors and hedge funds.

Extra Space Storage Company Profile

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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 December 31, 2023, the Company owned and/or operated 3,714 self-storage stores in 42 states and Washington, DC The Company's stores comprise approximately 2.6 million units and approximately 283.0 million square feet of rentable space operating under the Extra Space, Life Storage and Storage Express brands.

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Analyst Recommendations for Extra Space Storage (NYSE:EXR)

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