Extra Space Storage Inc (NYSE:EXR) Receives Consensus Recommendation of “Hold” from Brokerages

Extra Space Storage Inc (NYSE:EXR) has been assigned a consensus recommendation of “Hold” from the sixteen research firms that are covering the firm, Marketbeat reports. Ten research analysts have rated the stock with a hold rating and six have issued a buy rating on the company. The average twelve-month price objective among brokers that have issued ratings on the stock in the last year is $146.5333.

A number of equities research analysts have issued reports on EXR shares. UBS Group decreased their price objective on Extra Space Storage from $156.00 to $148.00 and set a “buy” rating on the stock in a research report on Thursday, January 8th. Mizuho boosted their target price on Extra Space Storage from $137.00 to $143.00 and gave the company an “outperform” rating in a research report on Monday, January 12th. Wall Street Zen lowered Extra Space Storage from a “hold” rating to a “sell” rating in a report on Saturday, November 1st. Morgan Stanley dropped their price objective on shares of Extra Space Storage from $155.00 to $152.00 and set an “equal weight” rating for the company in a research note on Friday, December 5th. Finally, Evercore ISI reiterated a “cautious” rating on shares of Extra Space Storage in a research report on Monday, November 3rd.

Extra Space Storage Price Performance

EXR stock opened at $141.49 on Friday. Extra Space Storage has a 52 week low of $121.03 and a 52 week high of $162.77. The firm has a market capitalization of $30.03 billion, a P/E ratio of 31.58, a price-to-earnings-growth ratio of 2.77 and a beta of 1.27. The company has a fifty day simple moving average of $134.17 and a two-hundred day simple moving average of $139.65. The company has a quick ratio of 0.24, a current ratio of 0.24 and a debt-to-equity ratio of 0.89.

Extra Space Storage (NYSE:EXR) last posted its earnings results on Wednesday, October 29th. The real estate investment trust reported $2.08 earnings per share for the quarter, topping analysts’ consensus estimates of $2.06 by $0.02. Extra Space Storage had a net margin of 28.40% and a return on equity of 6.56%. The firm had revenue of $858.46 million for the quarter, compared to the consensus estimate of $736.26 million. During the same period in the previous year, the firm posted $2.07 EPS. The business’s quarterly revenue was up 4.1% on a year-over-year basis. Extra Space Storage has set its FY 2025 guidance at 8.120-8.20 EPS. Analysts anticipate 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 was paid on Wednesday, December 31st. Investors of record on Monday, December 15th were issued a dividend of $1.62 per share. This represents a $6.48 annualized dividend and a yield of 4.6%. The ex-dividend date was Monday, December 15th. Extra Space Storage’s dividend payout ratio is presently 144.64%.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of the business. NewEdge Advisors LLC raised its holdings in shares of Extra Space Storage by 9.3% in the first quarter. NewEdge Advisors LLC now owns 3,409 shares of the real estate investment trust’s stock worth $506,000 after buying an additional 291 shares during the period. Empowered Funds LLC grew its position in Extra Space Storage by 15.5% in the 1st quarter. Empowered Funds LLC now owns 4,912 shares of the real estate investment trust’s stock valued at $729,000 after acquiring an additional 661 shares during the last quarter. Sivia Capital Partners LLC purchased a new stake in Extra Space Storage in the second quarter worth $457,000. Farther Finance Advisors LLC lifted its position in shares of Extra Space Storage by 6.5% during the second quarter. Farther Finance Advisors LLC now owns 1,559 shares of the real estate investment trust’s stock worth $230,000 after purchasing an additional 95 shares during the last quarter. Finally, GAMMA Investing LLC lifted its position in shares of Extra Space Storage by 10.3% during the second quarter. GAMMA Investing LLC now owns 3,204 shares of the real estate investment trust’s stock worth $472,000 after purchasing an additional 298 shares during the last quarter. Hedge funds and other institutional investors own 99.11% of the company’s stock.

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.