Scotiabank Raises Extra Space Storage (NYSE:EXR) Price Target to $156.00

Extra Space Storage (NYSE:EXR) had its price objective raised by Scotiabank from $145.00 to $156.00 in a report issued on Monday,Benzinga reports. The firm presently has a “sector perform” rating on the real estate investment trust’s stock. Scotiabank’s price objective suggests a potential upside of 4.15% from the company’s current price.

A number of other equities analysts also recently commented on EXR. 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 research report on Tuesday, January 20th. Weiss Ratings reissued a “hold (c)” rating on shares of Extra Space Storage in a research report on Thursday, January 22nd. Wells Fargo & Company cut their price objective on shares of Extra Space Storage from $160.00 to $150.00 and set an “overweight” rating for the company in a research report on Thursday, February 5th. Bank of America lowered shares of Extra Space Storage from a “neutral” rating to an “underperform” rating and set a $143.00 target price on the stock. in a report on Thursday, February 5th. Finally, Morgan Stanley dropped their price target 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. Five investment analysts have rated the stock with a Buy rating, ten have given a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $144.73.

Extra Space Storage Stock Performance

NYSE:EXR opened at $149.79 on Monday. The company’s 50-day moving average price is $141.14 and its 200-day moving average price is $139.51. The company has a current ratio of 0.39, a quick ratio of 0.39 and a debt-to-equity ratio of 0.92. The company has a market cap of $31.63 billion, a P/E ratio of 32.56, a P/E/G ratio of 3.07 and a beta of 1.24. Extra Space Storage has a twelve month low of $121.03 and a twelve month high of $160.58.

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

Hedge Funds Weigh In On Extra Space Storage

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