Extra Space Storage (NYSE:EXR) Price Target Lowered to $160.00 at UBS Group

Extra Space Storage (NYSE:EXR) had its price target cut by UBS Group from $169.00 to $160.00 in a research note issued to investors on Tuesday, Marketbeat reports. They currently have a buy rating on the real estate investment trust’s stock.

Several other brokerages also recently commented on EXR. Barclays reduced their target price on shares of Extra Space Storage from $178.00 to $169.00 and set an “overweight” rating on the stock in a research note on Friday, August 8th. Wells Fargo & Company upgraded shares of Extra Space Storage from an “equal weight” rating to an “overweight” rating and set a $160.00 price target on the stock in a research report on Tuesday, August 26th. Royal Bank Of Canada reduced their price target on shares of Extra Space Storage from $160.00 to $148.00 and set a “sector perform” rating on the stock in a research report on Monday, August 4th. Citigroup reduced their price target on shares of Extra Space Storage from $165.00 to $150.00 and set a “neutral” rating on the stock in a research report on Friday, August 22nd. Finally, The Goldman Sachs Group reiterated a “neutral” rating and set a $146.00 price target (down previously from $169.00) on shares of Extra Space Storage in a research report on Thursday, August 21st. Seven research analysts have rated the stock with a Buy rating and nine have given a Hold rating to the company. According to MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $152.20.

Extra Space Storage Stock Down 0.2%

Shares of NYSE:EXR opened at $143.49 on Tuesday. Extra Space Storage has a 52 week low of $121.03 and a 52 week high of $184.87. The company has a debt-to-equity ratio of 0.88, a quick ratio of 0.29 and a current ratio of 0.29. The company’s fifty day moving average is $143.66 and its 200-day moving average is $145.39. The company has a market capitalization of $30.46 billion, a PE ratio of 31.13, a P/E/G ratio of 3.48 and a beta of 1.09.

Extra Space Storage (NYSE:EXR) last issued its earnings results on Wednesday, July 30th. The real estate investment trust reported $2.05 EPS for the quarter, missing the consensus estimate of $2.06 by ($0.01). Extra Space Storage had a net margin of 29.51% and a return on equity of 6.69%. The firm had revenue of $841.62 million during the quarter, compared to analyst estimates of $719.43 million. During the same quarter in the prior year, the firm posted $2.06 EPS. The firm’s revenue for the quarter was up 3.8% on a year-over-year basis. Extra Space Storage has set its FY 2025 guidance at 8.050-8.25 EPS. Equities research analysts predict that Extra Space Storage will post 8.1 earnings per share for the current fiscal year.

Extra Space Storage Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, September 30th. Investors of record on Monday, September 15th will be given a $1.62 dividend. This represents a $6.48 dividend on an annualized basis and a dividend yield of 4.5%. The ex-dividend date is Monday, September 15th. Extra Space Storage’s dividend payout ratio (DPR) is currently 140.56%.

Insider Transactions at Extra Space Storage

In related news, CEO Joseph D. Margolis sold 7,500 shares of the stock in a transaction that occurred on Tuesday, July 1st. The stock was sold at an average price of $150.35, for a total transaction of $1,127,625.00. Following the completion of the sale, the chief executive officer directly owned 27,260 shares of the company’s stock, valued at approximately $4,098,541. This represents a 21.58% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 1.36% of the company’s stock.

Institutional Trading of Extra Space Storage

Large investors have recently bought and sold shares of the business. GKV Capital Management Co. Inc. bought a new stake in Extra Space Storage during the 1st quarter worth approximately $29,000. Chung Wu Investment Group LLC bought a new position in shares of Extra Space Storage during the 2nd quarter worth approximately $29,000. Elevation Point Wealth Partners LLC bought a new position in shares of Extra Space Storage during the 2nd quarter worth approximately $37,000. MTM Investment Management LLC bought a new position in shares of Extra Space Storage during the 2nd quarter worth approximately $38,000. Finally, Zions Bancorporation National Association UT bought a new position in shares of Extra Space Storage during the 1st quarter worth approximately $50,000. 99.11% of the stock is owned by institutional investors.

Extra Space Storage Company Profile

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.