Extra Space Storage (NYSE:EXR) Upgraded at Raymond James Financial

Raymond James Financial upgraded shares of Extra Space Storage (NYSE:EXR) to a moderate buy rating in a research note published on Wednesday,Zacks.com reports.

Other equities research analysts have also issued research reports about the stock. Wells Fargo & Company increased their price objective on shares of Extra Space Storage from $148.00 to $154.00 and gave the stock an “overweight” rating in a research note on Monday, June 1st. Weiss Ratings restated a “hold (c)” rating on shares of Extra Space Storage in a research note on Tuesday, April 21st. JPMorgan Chase & Co. upped their target price on Extra Space Storage from $142.00 to $144.00 and gave the company a “neutral” rating in a report on Monday, March 23rd. Barclays increased their price target on Extra Space Storage from $170.00 to $172.00 and gave the stock an “overweight” rating in a research report on Friday, July 10th. Finally, Wall Street Zen downgraded Extra Space Storage from a “hold” rating to a “sell” rating in a report on Saturday, June 13th. Six investment analysts have rated the stock with a Buy rating and ten have given a Hold rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $146.27.

Extra Space Storage Stock Down 1.3%

EXR stock opened at $148.38 on Wednesday. The company has a debt-to-equity ratio of 0.93, a current ratio of 0.37 and a quick ratio of 0.37. Extra Space Storage has a 1-year low of $125.71 and a 1-year high of $155.19. The firm has a fifty day moving average price of $145.31 and a two-hundred day moving average price of $142.13. The firm has a market cap of $31.35 billion, a price-to-earnings ratio of 33.27, a PEG ratio of 4.66 and a beta of 1.19.

Extra Space Storage (NYSE:EXR) last issued its earnings results on Tuesday, April 28th. The real estate investment trust reported $1.14 earnings per share for the quarter, missing analysts’ consensus estimates of $2.01 by ($0.87). Extra Space Storage had a return on equity of 6.65% and a net margin of 27.66%.The business had revenue of $856.03 million for the quarter, compared to analyst estimates of $851.35 million. During the same period last year, the company posted $2.00 earnings per share. The firm’s revenue for the quarter was up 4.4% on a year-over-year basis. Extra Space Storage has set its FY 2026 guidance at 8.050-8.350 EPS. Research analysts predict that Extra Space Storage will post 8.26 EPS for the current year.

Extra Space Storage Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, June 30th. Stockholders of record on Monday, June 15th were paid a $1.62 dividend. The ex-dividend date of this dividend was Monday, June 15th. This represents a $6.48 annualized dividend and a dividend yield of 4.4%. Extra Space Storage’s dividend payout ratio is presently 145.29%.

Insider Activity

In other news, EVP Gwyn Goodson Mcneal sold 3,300 shares of the firm’s stock in a transaction on Thursday, June 11th. The stock was sold at an average price of $150.00, for a total transaction of $495,000.00. Following the transaction, the executive vice president directly owned 37,374 shares of the company’s stock, valued at approximately $5,606,100. This trade represents a 8.11% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 0.96% of the company’s stock.

Hedge Funds Weigh In On Extra Space Storage

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Caitong International Asset Management Co. Ltd bought a new stake in shares of Extra Space Storage during the 3rd quarter worth about $28,000. Reflection Asset Management bought a new position in shares of Extra Space Storage in the fourth quarter valued at approximately $26,000. Cassaday & Co Wealth Management LLC acquired a new position in shares of Extra Space Storage during the first quarter valued at approximately $30,000. CoreCap Advisors LLC increased its stake in shares of Extra Space Storage by 975.0% during the second quarter. CoreCap Advisors LLC now owns 258 shares of the real estate investment trust’s stock valued at $37,000 after acquiring an additional 234 shares during the period. Finally, Rosenberg Matthew Hamilton increased its stake in shares of Extra Space Storage by 442.9% during the fourth quarter. Rosenberg Matthew Hamilton now owns 266 shares of the real estate investment trust’s stock valued at $35,000 after acquiring an additional 217 shares during the period. 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.