Extra Space Storage Inc (NYSE:EXR) Receives Average Recommendation of “Hold” from Brokerages

Shares of Extra Space Storage Inc (NYSE:EXR) have received a consensus rating of “Hold” from the sixteen ratings firms that are currently covering the stock, MarketBeat reports. One investment analyst has rated the stock with a sell rating, nine have assigned a hold rating and six have given a buy rating to the company. The average 12-month price target among brokers that have updated their coverage on the stock in the last year is $144.6667.

A number of equities research analysts recently weighed in on the stock. Evercore reaffirmed a “cautious” rating on shares of Extra Space Storage in a research note on Monday, November 3rd. UBS Group cut 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 note on Thursday, January 8th. Royal Bank Of Canada lowered their price objective on shares of 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. Bank of America downgraded shares of Extra Space Storage from a “neutral” rating to an “underperform” rating and set a $143.00 price objective for the company. in a report on Thursday, February 5th. Finally, Wells Fargo & Company reduced their target price on Extra Space Storage from $160.00 to $150.00 and set an “overweight” rating on the stock in a research note on Thursday, February 5th.

Extra Space Storage Stock Performance

NYSE:EXR opened at $147.83 on Wednesday. The stock has a market cap of $31.38 billion, a P/E ratio of 33.00, a PEG ratio of 1.76 and a beta of 1.27. 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 business’s 50-day moving average price is $137.57 and its two-hundred day moving average price is $138.66. Extra Space Storage has a twelve month low of $121.03 and a twelve month high of $162.77.

Extra Space Storage Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, March 31st. Investors of record on Monday, March 16th will be issued a dividend of $1.62 per share. This represents a $6.48 dividend on an annualized basis and a dividend yield of 4.4%. The ex-dividend date of this dividend is Monday, March 16th. Extra Space Storage’s dividend payout ratio (DPR) is currently 144.64%.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of EXR. DV Equities LLC bought a new stake in shares of Extra Space Storage in the 4th quarter worth approximately $39,000. Amundi grew its holdings in shares of Extra Space Storage by 22.5% during the 4th quarter. Amundi now owns 791,341 shares of the real estate investment trust’s stock valued at $103,048,000 after purchasing an additional 145,570 shares during the last quarter. FIL Ltd lifted its stake in Extra Space Storage by 12.4% in the fourth quarter. FIL Ltd now owns 24,573 shares of the real estate investment trust’s stock worth $3,200,000 after purchasing an additional 2,714 shares during the last quarter. GeoWealth Management LLC lifted its stake in Extra Space Storage by 7.5% in the fourth quarter. GeoWealth Management LLC now owns 13,205 shares of the real estate investment trust’s stock worth $1,720,000 after purchasing an additional 921 shares during the last quarter. Finally, Private Advisor Group LLC boosted its position in Extra Space Storage by 3.6% during the fourth quarter. Private Advisor Group LLC now owns 22,130 shares of the real estate investment trust’s stock valued at $2,882,000 after buying an additional 776 shares during the period. 99.11% of the stock is currently owned by institutional investors.

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.