Extra Space Storage (NYSE:EXR) Upgraded by Bank of America to “Neutral” Rating

Extra Space Storage (NYSE:EXR) was upgraded by research analysts at Bank of America from an “underperform” rating to a “neutral” rating in a research note issued on Tuesday,Benzinga reports. The firm currently has a $156.00 target price on the real estate investment trust’s stock, up from their previous target price of $147.00. Bank of America‘s price objective points to a potential upside of 6.40% from the company’s previous close.

Other analysts have also issued research reports about the company. Royal Bank Of Canada lifted their price objective on Extra Space Storage from $142.00 to $153.00 and gave the stock a “sector perform” rating in a report on Monday, February 23rd. BNP Paribas Exane raised Extra Space Storage from a “neutral” rating to an “outperform” rating and set a $154.00 price objective for the company in a report on Wednesday, March 18th. Wells Fargo & Company lifted their price objective on Extra Space Storage from $148.00 to $154.00 and gave the stock an “overweight” rating in a report on Monday, June 1st. Barclays lifted their price objective on Extra Space Storage from $164.00 to $170.00 and gave the stock an “overweight” rating in a report on Thursday, March 5th. Finally, Scotiabank lifted their price objective on Extra Space Storage from $145.00 to $156.00 and gave the stock a “sector perform” rating in a report on Monday, March 2nd. Five analysts have rated the stock with a Buy rating and ten have given a Hold rating to the stock. Based on data from MarketBeat, Extra Space Storage has a consensus rating of “Hold” and an average price target of $153.21.

Extra Space Storage Stock Down 2.6%

Extra Space Storage stock opened at $146.62 on Tuesday. The firm has a market cap of $30.97 billion, a price-to-earnings ratio of 32.87, a PEG ratio of 4.89 and a beta of 1.20. The stock has a fifty day simple moving average of $142.54 and a two-hundred day simple moving average of $139.63. Extra Space Storage has a 12 month low of $125.71 and a 12 month high of $155.19. The company has a current ratio of 0.37, a quick ratio of 0.37 and a debt-to-equity ratio of 0.93.

Extra Space Storage (NYSE:EXR) last posted its earnings results on Tuesday, April 28th. The real estate investment trust reported $1.14 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 the consensus estimate of $851.35 million. Extra Space Storage had a return on equity of 6.65% and a net margin of 27.66%.The firm’s revenue for the quarter was up 4.4% on a year-over-year basis. During the same period in the previous year, the business posted $2.00 EPS. Extra Space Storage has set its FY 2026 guidance at 8.050-8.350 EPS. Equities analysts predict that Extra Space Storage will post 8.24 EPS for the current fiscal year.

Insider Transactions at Extra Space Storage

In other Extra Space Storage news, EVP Gwyn Goodson Mcneal sold 3,300 shares of the business’s stock in a transaction dated Thursday, June 11th. The stock was sold at an average price of $150.00, for a total transaction of $495,000.00. Following the completion of the sale, the executive vice president owned 37,374 shares of the company’s stock, valued at approximately $5,606,100. The trade was a 8.11% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Corporate insiders own 0.96% of the company’s stock.

Institutional Trading of Extra Space Storage

Hedge funds have recently bought and sold shares of the stock. Centersquare Investment Management LLC lifted its holdings in shares of Extra Space Storage by 8.4% during the 3rd quarter. Centersquare Investment Management LLC now owns 2,920,697 shares of the real estate investment trust’s stock valued at $411,643,000 after purchasing an additional 227,289 shares during the last quarter. Pensionfund Sabic purchased a new position in shares of Extra Space Storage during the 4th quarter valued at about $1,153,000. Nomura Asset Management Co. Ltd. raised its stake in shares of Extra Space Storage by 2.5% during the 4th quarter. Nomura Asset Management Co. Ltd. now owns 391,044 shares of the real estate investment trust’s stock valued at $50,922,000 after buying an additional 9,492 shares during the last quarter. Bayhunt Capital LLC purchased a new position in shares of Extra Space Storage during the 4th quarter valued at about $14,650,000. Finally, Aberdeen Group plc raised its stake in shares of Extra Space Storage by 5.6% during the 3rd quarter. Aberdeen Group plc now owns 243,293 shares of the real estate investment trust’s stock valued at $34,414,000 after buying an additional 12,943 shares during the last quarter. 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.