Extra Space Storage (NYSE:EXR) Price Target Raised to $170.00

Extra Space Storage (NYSE:EXR) had its target price boosted by Barclays from $164.00 to $170.00 in a research report report published on Thursday morning,Benzinga reports. They currently have an overweight rating on the real estate investment trust’s stock.

Other research analysts have also issued research reports about the company. Bank of America lowered Extra Space Storage from a “neutral” rating to an “underperform” rating and set a $143.00 target price for the company. in a research report on Thursday, February 5th. Wells Fargo & Company reduced their price target on Extra Space Storage from $160.00 to $150.00 and set an “overweight” rating on the stock in a report on Thursday, February 5th. Truist Financial raised their price target on Extra Space Storage from $142.00 to $146.00 and gave the stock a “hold” rating in a research note on Tuesday, January 20th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Extra Space Storage in a research report on Thursday, January 22nd. Finally, Royal Bank Of Canada increased their target price on Extra Space Storage from $142.00 to $153.00 and gave the stock a “sector perform” rating in a research note on Monday, February 23rd. Five analysts have rated the stock with a Buy rating, ten have assigned a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $145.13.

Extra Space Storage Stock Down 0.7%

Shares of EXR opened at $146.40 on Thursday. The company has a quick ratio of 0.39, a current ratio of 0.39 and a debt-to-equity ratio of 0.92. The business has a fifty day moving average of $142.19 and a 200 day moving average of $139.71. The company has a market cap of $30.91 billion, a PE ratio of 31.83, a P/E/G ratio of 2.95 and a beta of 1.24. Extra Space Storage has a 52-week low of $121.03 and a 52-week high of $160.58.

Extra Space Storage (NYSE:EXR) last released its earnings results on Thursday, February 19th. The real estate investment trust reported $2.08 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.03 by $0.05. The firm had revenue of $857.47 million during the quarter, compared to analyst estimates of $732.92 million. Extra Space Storage had a net margin of 28.84% and a return on equity of 6.79%. The business’s revenue was up 4.3% on a year-over-year basis. During the same quarter last year, the business earned $2.03 EPS. Extra Space Storage has set its FY 2026 guidance at 8.050-8.350 EPS. On average, sell-side analysts expect that Extra Space Storage will post 8.1 EPS for the current year.

Extra Space Storage Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, March 31st. Stockholders of record on Monday, March 16th will be issued a $1.62 dividend. The ex-dividend date is Monday, March 16th. This represents a $6.48 dividend on an annualized basis and a dividend yield of 4.4%. Extra Space Storage’s dividend payout ratio (DPR) is currently 140.87%.

Institutional Investors Weigh In On Extra Space Storage

A number of institutional investors have recently added to or reduced their stakes in the stock. Thrivent Financial for Lutherans boosted its holdings in shares of Extra Space Storage by 38.2% in the 3rd quarter. Thrivent Financial for Lutherans now owns 589,271 shares of the real estate investment trust’s stock valued at $83,052,000 after acquiring an additional 162,773 shares during the last quarter. Principal Financial Group Inc. raised its holdings in shares of Extra Space Storage by 6.4% during the third quarter. Principal Financial Group Inc. now owns 6,715,901 shares of the real estate investment trust’s stock worth $946,540,000 after purchasing an additional 406,146 shares during the last quarter. Cibc World Market Inc. lifted its position in Extra Space Storage by 19.4% during the third quarter. Cibc World Market Inc. now owns 190,863 shares of the real estate investment trust’s stock valued at $26,900,000 after purchasing an additional 30,983 shares during the period. Resona Asset Management Co. Ltd. grew its position in Extra Space Storage by 6.6% during the 3rd quarter. Resona Asset Management Co. Ltd. now owns 127,235 shares of the real estate investment trust’s stock worth $17,982,000 after purchasing an additional 7,831 shares during the period. Finally, Oregon Public Employees Retirement Fund raised its stake in shares of Extra Space Storage by 32.0% during the 3rd quarter. Oregon Public Employees Retirement Fund now owns 24,240 shares of the real estate investment trust’s stock valued at $3,416,000 after buying an additional 5,870 shares during the last quarter. Institutional investors own 99.11% of the company’s stock.

Extra Space Storage Company Profile

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.