Extra Space Storage (NYSE:EXR) Coverage Initiated by Analysts at Raymond James Financial

Raymond James Financial began coverage on shares of Extra Space Storage (NYSE:EXR) in a report published on Thursday morning. The firm issued an outperform rating and a $44.00 price objective on the real estate investment trust’s stock.

Other analysts have also issued research reports about the stock. Wells Fargo & Company lifted their price target 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 reiterated a “hold (c)” rating on shares of Extra Space Storage in a research note on Tuesday, April 21st. Truist Financial raised their price objective on shares of Extra Space Storage from $140.00 to $148.00 and gave the stock a “hold” rating in a report on Wednesday, June 17th. Mizuho boosted their target price on shares of Extra Space Storage from $150.00 to $155.00 and gave the stock an “outperform” rating in a research report on Wednesday, May 27th. Finally, BNP Paribas Exane raised shares of Extra Space Storage from a “neutral” rating to an “outperform” rating and set a $154.00 target price for the company in a research report on Wednesday, March 18th. Six equities research analysts have rated the stock with a Buy rating and ten have assigned a Hold rating to the company’s stock. According to MarketBeat, Extra Space Storage has a consensus rating of “Hold” and an average price target of $146.27.

Extra Space Storage Price Performance

Shares of NYSE EXR opened at $150.16 on Thursday. The company has a quick ratio of 0.37, a current ratio of 0.37 and a debt-to-equity ratio of 0.93. Extra Space Storage has a fifty-two week low of $125.71 and a fifty-two week high of $155.19. The business has a 50 day moving average price of $145.21 and a two-hundred day moving average price of $142.09. The firm has a market cap of $31.72 billion, a PE ratio of 33.67, a price-to-earnings-growth ratio of 4.48 and a beta of 1.19.

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

Extra Space Storage Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Tuesday, June 30th. Stockholders of record on Monday, June 15th were issued a $1.62 dividend. This represents a $6.48 dividend on an annualized basis and a dividend yield of 4.3%. The ex-dividend date was Monday, June 15th. Extra Space Storage’s payout ratio is 145.29%.

Insider Activity

In related 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 in the company, valued at $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 SEC, which is available through this hyperlink. Corporate insiders own 0.96% of the company’s stock.

Hedge Funds Weigh In On Extra Space Storage

Hedge funds have recently added to or reduced their stakes in the business. Tema ETFs LLC raised its holdings in shares of Extra Space Storage by 7.5% during the second quarter. Tema ETFs LLC now owns 4,146 shares of the real estate investment trust’s stock worth $602,000 after purchasing an additional 290 shares during the period. Handelsbanken Fonder AB grew its position in shares of Extra Space Storage by 23.2% during the 2nd quarter. Handelsbanken Fonder AB now owns 116,768 shares of the real estate investment trust’s stock valued at $16,966,000 after buying an additional 21,987 shares during the last quarter. Fulton Bank N.A. acquired a new stake in Extra Space Storage during the second quarter worth about $234,000. Revolve Wealth Partners LLC acquired a new stake in Extra Space Storage during the second quarter worth about $359,000. Finally, Czech National Bank lifted its holdings in Extra Space Storage by 4.0% in the second quarter. Czech National Bank now owns 60,133 shares of the real estate investment trust’s stock worth $8,737,000 after acquiring an additional 2,328 shares during the last quarter. Institutional investors and hedge funds 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.