Extra Space Storage (NYSE:EXR) Price Target Raised to $144.00 at JPMorgan Chase & Co.

Extra Space Storage (NYSE:EXR) had its price objective upped by JPMorgan Chase & Co. from $142.00 to $144.00 in a research report sent to investors on Monday,Benzinga reports. The brokerage currently has a neutral rating on the real estate investment trust’s stock.

Other research analysts have also recently issued reports about the stock. Barclays increased their price target on shares of Extra Space Storage from $164.00 to $170.00 and gave the company an “overweight” rating in a research report on Thursday, March 5th. Morgan Stanley cut 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. Scotiabank increased their target price on shares of Extra Space Storage from $145.00 to $156.00 and gave the company a “sector perform” rating in a report on Monday, March 2nd. BNP Paribas Exane upgraded shares of Extra Space Storage from a “neutral” rating to an “outperform” rating and set a $154.00 target price on the stock in a research report on Wednesday, March 18th. Finally, Mizuho boosted their price target on shares of Extra Space Storage from $137.00 to $143.00 and gave the stock an “outperform” rating in a research note on Monday, January 12th. Six analysts have rated the stock with a Buy rating, nine have given a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $143.80.

Extra Space Storage Trading Up 1.2%

Shares of EXR stock opened at $131.87 on Monday. The business has a 50-day moving average price of $143.34 and a two-hundred day moving average price of $139.47. Extra Space Storage has a 12-month low of $121.03 and a 12-month high of $155.19. 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 firm has a market cap of $27.84 billion, a P/E ratio of 28.67, a price-to-earnings-growth ratio of 2.62 and a beta of 1.24.

Extra Space Storage (NYSE:EXR) last announced its quarterly earnings data on Thursday, February 19th. The real estate investment trust reported $2.08 EPS for the quarter, beating the consensus estimate of $2.03 by $0.05. The firm had revenue of $857.47 million for the quarter, compared to analyst estimates of $732.92 million. Extra Space Storage had a return on equity of 6.79% and a net margin of 28.84%.The company’s revenue was up 4.3% on a year-over-year basis. During the same period in the prior year, the company earned $2.03 EPS. Extra Space Storage has set its FY 2026 guidance at 8.050-8.350 EPS. Equities analysts anticipate that Extra Space Storage will post 8.1 EPS for the current fiscal year.

Extra Space Storage Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, March 31st. Stockholders of record on Monday, March 16th will be paid a dividend of $1.62 per share. This represents a $6.48 dividend on an annualized basis and a dividend yield of 4.9%. The ex-dividend date of this dividend is Monday, March 16th. Extra Space Storage’s dividend payout ratio is 140.87%.

Insider Activity

In other news, CEO Joseph D. Margolis sold 7,500 shares of the firm’s stock in a transaction that occurred on Friday, March 13th. The shares were sold at an average price of $142.08, for a total value of $1,065,600.00. Following the transaction, the chief executive officer owned 66,495 shares in the company, valued at approximately $9,447,609.60. This trade represents a 10.14% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 1.36% of the company’s stock.

Institutional Investors Weigh In On Extra Space Storage

Institutional investors have recently added to or reduced their stakes in the company. Avalon Trust Co purchased a new position in shares of Extra Space Storage in the third quarter valued at about $28,000. Caitong International Asset Management Co. Ltd purchased a new stake in shares of Extra Space Storage during the third quarter worth about $28,000. Reflection Asset Management bought a new stake in shares of Extra Space Storage in the fourth quarter worth about $26,000. Versant Capital Management Inc grew its stake in shares of Extra Space Storage by 60.2% in the third quarter. Versant Capital Management Inc now owns 213 shares of the real estate investment trust’s stock worth $30,000 after purchasing an additional 80 shares during the last quarter. Finally, Davis Capital Management purchased a new position in Extra Space Storage during the 3rd quarter valued at about $35,000. 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.