Extra Space Storage (NYSE:EXR) Upgraded by Wall Street Zen to “Hold” Rating

Extra Space Storage (NYSE:EXR) was upgraded by stock analysts at Wall Street Zen from a “sell” rating to a “hold” rating in a research report issued on Saturday.

Several other analysts have also issued reports on the stock. Barclays lifted their target price 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. UBS Group reduced their price target on shares of Extra Space Storage from $156.00 to $148.00 and set a “buy” rating for the company in a research report on Thursday, January 8th. Truist Financial lifted their price objective on Extra Space Storage from $142.00 to $146.00 and gave the stock a “hold” rating in a report on Tuesday, January 20th. JPMorgan Chase & Co. boosted their price objective on Extra Space Storage from $142.00 to $144.00 and gave the stock a “neutral” rating in a research note on Monday, March 23rd. Finally, BNP Paribas Exane raised Extra Space Storage from a “neutral” rating to an “outperform” rating and set a $154.00 target price for the company in a report on Wednesday, March 18th. Six investment analysts have rated the stock with a Buy rating, nine have issued a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $143.80.

Extra Space Storage Stock Up 0.1%

Extra Space Storage stock opened at $133.94 on Friday. The company has a debt-to-equity ratio of 0.92, a current ratio of 0.39 and a quick ratio of 0.39. The stock has a market capitalization of $28.29 billion, a PE ratio of 29.12, a price-to-earnings-growth ratio of 2.69 and a beta of 1.26. The business has a 50 day simple moving average of $140.78 and a 200-day simple moving average of $138.61. Extra Space Storage has a 12 month low of $121.03 and a 12 month high of $155.19.

Extra Space Storage (NYSE:EXR) last announced its earnings results on Thursday, February 19th. The real estate investment trust reported $2.08 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 business’s revenue was up 4.3% on a year-over-year basis. During the same quarter last year, the firm posted $2.03 EPS. Extra Space Storage has set its FY 2026 guidance at 8.050-8.350 EPS. On average, analysts anticipate that Extra Space Storage will post 8.1 EPS for the current fiscal year.

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 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 completion of the sale, the chief executive officer owned 66,495 shares of the company’s stock, valued at $9,447,609.60. This represents a 10.14% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. 0.96% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in EXR. NewEdge Advisors LLC raised its position in 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 valued at $506,000 after purchasing an additional 291 shares during the period. Empowered Funds LLC increased its position in shares of Extra Space Storage by 15.5% during the 1st quarter. Empowered Funds LLC now owns 4,912 shares of the real estate investment trust’s stock worth $729,000 after purchasing an additional 661 shares during the last quarter. Sivia Capital Partners LLC acquired a new stake in shares of Extra Space Storage during the 2nd quarter worth about $457,000. Northwestern Mutual Wealth Management Co. raised its holdings in Extra Space Storage by 18.2% in the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 1,534 shares of the real estate investment trust’s stock valued at $226,000 after buying an additional 236 shares during the period. Finally, Arrowstreet Capital Limited Partnership raised its holdings in Extra Space Storage by 38.2% in the 2nd quarter. Arrowstreet Capital Limited Partnership now owns 149,850 shares of the real estate investment trust’s stock valued at $22,094,000 after buying an additional 41,413 shares during the period. 99.11% of the stock is currently owned by institutional investors and hedge funds.

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.