Extra Space Storage (NYSE:EXR) Given New $146.00 Price Target at Truist Financial

Extra Space Storage (NYSE:EXR) had its target price hoisted by Truist Financial from $142.00 to $146.00 in a report released on Tuesday morning, MarketBeat Ratings reports. The firm currently has a hold rating on the real estate investment trust’s stock.

Other analysts have also recently issued research reports about the company. Wall Street Zen cut Extra Space Storage from a “hold” rating to a “sell” rating in a research report on Saturday, November 1st. Mizuho raised their price objective on Extra Space Storage from $137.00 to $143.00 and gave the stock an “outperform” rating in a research note on Monday, January 12th. Royal Bank Of Canada dropped their target price on Extra Space Storage from $148.00 to $146.00 and set a “sector perform” rating on the stock in a research report on Friday, November 7th. UBS Group cut their price target on shares of Extra Space Storage from $156.00 to $148.00 and set a “buy” rating on the stock in a report on Thursday, January 8th. Finally, Barclays restated an “overweight” rating and set a $164.00 price objective on shares of Extra Space Storage in a research note on Tuesday, January 13th. Six research analysts have rated the stock with a Buy rating and eleven have issued a Hold rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $146.53.

Extra Space Storage Stock Down 2.2%

EXR stock opened at $145.57 on Tuesday. The stock has a market capitalization of $30.90 billion, a PE ratio of 32.49, a price-to-earnings-growth ratio of 2.75 and a beta of 1.27. Extra Space Storage has a 52 week low of $121.03 and a 52 week high of $162.77. The company has a quick ratio of 0.24, a current ratio of 0.24 and a debt-to-equity ratio of 0.89. The firm has a 50 day moving average of $133.51 and a 200 day moving average of $139.64.

Extra Space Storage (NYSE:EXR) last issued its quarterly earnings results on Wednesday, October 29th. The real estate investment trust reported $2.08 earnings per share (EPS) for the quarter, beating 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 business had revenue of $858.46 million for the quarter, compared to analyst estimates of $736.26 million. During the same quarter in the prior year, the business posted $2.07 EPS. Extra Space Storage’s revenue for the quarter was up 4.1% compared to the same quarter last year. Extra Space Storage has set its FY 2025 guidance at 8.120-8.20 EPS. Sell-side analysts forecast that Extra Space Storage will post 8.1 earnings per share for the current year.

Extra Space Storage Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, December 31st. Shareholders of record on Monday, December 15th were given a dividend of $1.62 per share. The ex-dividend date was Monday, December 15th. This represents a $6.48 dividend on an annualized basis and a yield of 4.5%. Extra Space Storage’s dividend payout ratio is currently 144.64%.

Hedge Funds Weigh In On Extra Space Storage

Several hedge funds and other institutional investors have recently modified their holdings of EXR. Cromwell Holdings LLC lifted its position in Extra Space Storage by 14.6% in the fourth quarter. Cromwell Holdings LLC now owns 574 shares of the real estate investment trust’s stock valued at $75,000 after buying an additional 73 shares during the last quarter. FARMERS & MERCHANTS TRUST Co OF LONG BEACH raised its holdings in shares of Extra Space Storage by 4.6% in the 2nd quarter. FARMERS & MERCHANTS TRUST Co OF LONG BEACH now owns 1,825 shares of the real estate investment trust’s stock valued at $269,000 after purchasing an additional 80 shares in the last quarter. Versant Capital Management Inc raised its stake in 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 valued at $30,000 after buying an additional 80 shares in the last quarter. Gilman Hill Asset Management LLC boosted its holdings in Extra Space Storage by 5.0% in the fourth quarter. Gilman Hill Asset Management LLC now owns 1,690 shares of the real estate investment trust’s stock valued at $220,000 after purchasing an additional 80 shares in the last quarter. Finally, Brown Advisory Inc. grew its position in shares of Extra Space Storage by 1.8% in the 2nd quarter. Brown Advisory Inc. now owns 4,431 shares of the real estate investment trust’s stock valued at $653,000 after buying an additional 80 shares during the last quarter. 99.11% of the stock is owned by hedge funds and other institutional investors.

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.