Extra Space Storage Inc (NYSE:EXR) Given Consensus Rating of “Hold” by Analysts

Shares of Extra Space Storage Inc (NYSE:EXR) have received an average rating of “Hold” from the seventeen ratings firms that are currently covering the company, Marketbeat Ratings reports. Eleven equities research analysts have rated the stock with a hold rating and six have issued a buy rating on the company. The average 12 month price target among brokers that have issued a report on the stock in the last year is $147.00.

A number of analysts have recently weighed in on the stock. Weiss Ratings restated a “hold (c)” rating on shares of Extra Space Storage in a report on Wednesday, October 8th. Morgan Stanley dropped their price target on Extra Space Storage from $155.00 to $152.00 and set an “equal weight” rating for the company in a research report on Friday, December 5th. Royal Bank Of Canada reduced their price objective on Extra Space Storage from $148.00 to $146.00 and set a “sector perform” rating on the stock in a research note on Friday, November 7th. UBS Group lowered their price objective on Extra Space Storage from $169.00 to $160.00 and set a “buy” rating for the company in a research note on Tuesday, September 16th. Finally, Wall Street Zen cut Extra Space Storage from a “hold” rating to a “sell” rating in a report on Saturday, November 1st.

Insider Buying and Selling at Extra Space Storage

In other news, CEO Joseph D. Margolis sold 7,500 shares of the stock in a transaction on Wednesday, October 1st. The shares were sold at an average price of $141.41, for a total value of $1,060,575.00. Following the sale, the chief executive officer owned 19,760 shares of the company’s stock, valued at approximately $2,794,261.60. This represents a 27.51% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Corporate insiders own 0.96% of the company’s stock.

Hedge Funds Weigh In On Extra Space Storage

Several hedge funds have recently added to or reduced their stakes in EXR. FARMERS & MERCHANTS TRUST Co OF LONG BEACH increased its stake in shares of Extra Space Storage by 4.6% during the second quarter. FARMERS & MERCHANTS TRUST Co OF LONG BEACH now owns 1,825 shares of the real estate investment trust’s stock valued at $269,000 after buying an additional 80 shares during the period. Versant Capital Management Inc grew its holdings in Extra Space Storage by 60.2% during the 3rd quarter. Versant Capital Management Inc now owns 213 shares of the real estate investment trust’s stock worth $30,000 after acquiring an additional 80 shares in the last quarter. Brown Advisory Inc. grew its holdings in Extra Space Storage by 1.8% during the 2nd quarter. Brown Advisory Inc. now owns 4,431 shares of the real estate investment trust’s stock worth $653,000 after acquiring an additional 80 shares in the last quarter. Prestige Wealth Management Group LLC increased its position in Extra Space Storage by 2.9% during the 3rd quarter. Prestige Wealth Management Group LLC now owns 3,128 shares of the real estate investment trust’s stock valued at $441,000 after purchasing an additional 88 shares during the period. Finally, Exchange Traded Concepts LLC raised its holdings in shares of Extra Space Storage by 10.2% in the 3rd quarter. Exchange Traded Concepts LLC now owns 983 shares of the real estate investment trust’s stock valued at $139,000 after purchasing an additional 91 shares in the last quarter. 99.11% of the stock is currently owned by institutional investors.

Extra Space Storage Price Performance

Shares of Extra Space Storage stock opened at $130.64 on Tuesday. The stock has a 50 day moving average of $133.91 and a 200 day moving average of $140.76. Extra Space Storage has a 12 month low of $121.03 and a 12 month high of $162.77. The firm has a market cap of $27.73 billion, a PE ratio of 29.16, a PEG ratio of 2.47 and a beta of 1.27. The company has a current ratio of 0.24, a quick ratio of 0.24 and a debt-to-equity ratio of 0.89.

Extra Space Storage (NYSE:EXR) last released its quarterly earnings data on Wednesday, October 29th. The real estate investment trust reported $2.08 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.06 by $0.02. The business had revenue of $858.46 million for the quarter, compared to the consensus estimate of $736.26 million. Extra Space Storage had a return on equity of 6.56% and a net margin of 28.40%.The company’s revenue was up 4.1% compared to the same quarter last year. During the same quarter in the previous year, the company posted $2.07 EPS. Extra Space Storage has set its FY 2025 guidance at 8.120-8.20 EPS. On average, research analysts expect that Extra Space Storage will post 8.1 EPS for the current fiscal year.

Extra Space Storage Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 31st. Shareholders of record on Monday, December 15th will be paid a dividend of $1.62 per share. This represents a $6.48 annualized dividend and a yield of 5.0%. The ex-dividend date of this dividend is Monday, December 15th. Extra Space Storage’s payout ratio is presently 144.64%.

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.