Extra Space Storage (NYSE:EXR) Rating Increased to Outperform at BNP Paribas Exane

BNP Paribas Exane upgraded shares of Extra Space Storage (NYSE:EXR) from a neutral rating to an outperform rating in a report released on Wednesday morning, Marketbeat.com reports. BNP Paribas Exane currently has $154.00 target price on the real estate investment trust’s stock.

A number of other equities analysts have also recently commented on EXR. Truist Financial boosted their price target on shares of Extra Space Storage from $142.00 to $146.00 and gave the stock a “hold” rating in a research note on Tuesday, January 20th. Bank of America downgraded Extra Space Storage from a “neutral” rating to an “underperform” rating and set a $143.00 price objective on the stock. in a report on Thursday, February 5th. Wells Fargo & Company dropped their target price on Extra Space Storage from $160.00 to $150.00 and set an “overweight” rating for the company in a report on Thursday, February 5th. Barclays raised their price target on Extra Space Storage from $164.00 to $170.00 and gave the stock an “overweight” rating in a research report on Thursday, March 5th. Finally, UBS Group decreased their price target on Extra Space Storage from $156.00 to $148.00 and set a “buy” rating on the stock in a research note on Thursday, January 8th. Six investment analysts have rated the stock with a Buy rating, nine have given a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, Extra Space Storage has an average rating of “Hold” and an average price target of $145.00.

Extra Space Storage Trading Down 1.5%

NYSE EXR opened at $136.27 on Wednesday. The company has a quick ratio of 0.39, a current ratio of 0.39 and a debt-to-equity ratio of 0.92. The stock’s 50-day simple moving average is $143.69 and its two-hundred day simple moving average is $139.70. Extra Space Storage has a twelve month low of $121.03 and a twelve month high of $155.19. The company has a market capitalization of $28.77 billion, a price-to-earnings ratio of 29.62, a PEG ratio of 2.78 and a beta of 1.24.

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 for the quarter, beating analysts’ consensus estimates of $2.03 by $0.05. The company had revenue of $857.47 million for the quarter, compared to analysts’ expectations of $732.92 million. Extra Space Storage had a return on equity of 6.79% and a net margin of 28.84%.Extra Space Storage’s revenue for the quarter was up 4.3% compared to the same quarter last year. During the same period last year, the firm posted $2.03 EPS. Extra Space Storage has set its FY 2026 guidance at 8.050-8.350 EPS. Research analysts forecast that Extra Space Storage will post 8.1 EPS for the current fiscal year.

Extra Space Storage Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, March 31st. Stockholders of record on Monday, March 16th will be given a $1.62 dividend. This represents a $6.48 dividend on an annualized basis and a dividend yield of 4.8%. The ex-dividend date is Monday, March 16th. Extra Space Storage’s dividend payout ratio (DPR) is currently 140.87%.

Insider Transactions at Extra Space Storage

In other Extra Space Storage news, CEO Joseph D. Margolis sold 7,500 shares of the company’s stock in a transaction 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 transaction, the chief executive officer directly owned 66,495 shares in the company, valued at approximately $9,447,609.60. This represents a 10.14% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 0.96% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in the company. Cromwell Holdings LLC grew its holdings 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 purchasing an additional 73 shares during the period. Brown Advisory Inc. grew its position in shares of Extra Space Storage by 1.8% in the second quarter. Brown Advisory Inc. now owns 4,431 shares of the real estate investment trust’s stock valued at $653,000 after purchasing an additional 80 shares during the period. Versant Capital Management Inc increased its stake in shares of Extra Space Storage by 60.2% during the third quarter. Versant Capital Management Inc now owns 213 shares of the real estate investment trust’s stock worth $30,000 after purchasing an additional 80 shares in the last quarter. Gilman Hill Asset Management LLC increased its stake in shares of Extra Space Storage by 5.0% during the fourth quarter. Gilman Hill Asset Management LLC now owns 1,690 shares of the real estate investment trust’s stock worth $220,000 after purchasing an additional 80 shares in the last quarter. Finally, Manchester Capital Management LLC raised its position in shares of Extra Space Storage by 18.9% during the 4th quarter. Manchester Capital Management LLC now owns 540 shares of the real estate investment trust’s stock worth $70,000 after purchasing an additional 86 shares during the last quarter. Hedge funds and other institutional investors own 99.11% of the company’s stock.

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.