Extra Space Storage (NYSE:EXR) Upgraded by Wall Street Zen to “Hold” Rating

Wall Street Zen upgraded shares of Extra Space Storage (NYSE:EXR) from a sell rating to a hold rating in a report released on Saturday.

Several other research firms have also recently weighed in on EXR. JPMorgan Chase & Co. lifted their price objective on Extra Space Storage from $142.00 to $144.00 and gave the company a “neutral” rating in a report on Monday, March 23rd. Truist Financial increased their target price on Extra Space Storage from $140.00 to $148.00 and gave the stock a “hold” rating in a research note on Wednesday, June 17th. Barclays raised their target price on shares of Extra Space Storage from $170.00 to $172.00 and gave the stock an “overweight” rating in a report on Friday, July 10th. Raymond James Financial began coverage on shares of Extra Space Storage in a research note on Thursday. They issued an “outperform” rating and a $44.00 price target on the stock. Finally, Wells Fargo & Company upped their price target on shares of Extra Space Storage from $148.00 to $154.00 and gave the company an “overweight” rating in a report on Monday, June 1st. Six analysts have rated the stock with a Buy rating and ten have given a Hold rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $146.27.

Extra Space Storage Stock Performance

EXR stock opened at $148.38 on Friday. The business’s 50-day moving average price is $145.31 and its two-hundred day moving average price is $142.13. The company has a current ratio of 0.37, a quick ratio of 0.37 and a debt-to-equity ratio of 0.93. The firm has a market cap of $31.35 billion, a PE ratio of 33.27, a P/E/G ratio of 4.59 and a beta of 1.19. Extra Space Storage has a 1-year low of $125.71 and a 1-year high of $155.19.

Extra Space Storage (NYSE:EXR) last posted 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). Extra Space Storage had a net margin of 27.66% and a return on equity of 6.65%. The business had revenue of $856.03 million during the quarter, compared to analyst estimates of $851.35 million. During the same period in the previous year, the firm posted $2.00 earnings per share. The firm’s revenue was up 4.4% on a year-over-year basis. Extra Space Storage has set its FY 2026 guidance at 8.050-8.350 EPS. As a group, research analysts forecast that Extra Space Storage will post 8.26 earnings per share for the current year.

Extra Space Storage Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, June 30th. Stockholders of record on Monday, June 15th were given a $1.62 dividend. This represents a $6.48 dividend on an annualized basis and a dividend yield of 4.4%. The ex-dividend date of this dividend was Monday, June 15th. Extra Space Storage’s dividend payout ratio (DPR) is presently 145.29%.

Insiders Place Their Bets

In related news, EVP Gwyn Goodson Mcneal sold 3,300 shares of the stock in a transaction on Thursday, June 11th. The stock was sold at an average price of $150.00, for a total value of $495,000.00. Following the sale, the executive vice president owned 37,374 shares in the company, valued at approximately $5,606,100. This represents a 8.11% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 0.96% of the company’s stock.

Hedge Funds Weigh In On Extra Space Storage

Institutional investors and hedge funds have recently modified their holdings of the stock. NewEdge Advisors LLC boosted its holdings in shares of Extra Space Storage by 9.3% during the 1st quarter. NewEdge Advisors LLC now owns 3,409 shares of the real estate investment trust’s stock worth $506,000 after buying an additional 291 shares during the period. Empowered Funds LLC lifted its position in Extra Space Storage by 15.5% during the first quarter. Empowered Funds LLC now owns 4,912 shares of the real estate investment trust’s stock worth $729,000 after acquiring an additional 661 shares during the last quarter. Sivia Capital Partners LLC bought a new stake in shares of Extra Space Storage during the second quarter worth approximately $457,000. First Trust Advisors LP grew its position in shares of Extra Space Storage by 184.1% in the second quarter. First Trust Advisors LP now owns 108,205 shares of the real estate investment trust’s stock valued at $15,954,000 after purchasing an additional 70,115 shares during the last quarter. Finally, 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 last quarter. 99.11% of the stock is currently owned by institutional investors and hedge funds.

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.