Extra Space Storage (NYSE:EXR) Given New $146.00 Price Target at Truist Financial

Extra Space Storage (NYSE:EXR) had its price objective boosted by research analysts at Truist Financial from $142.00 to $146.00 in a research note issued on Tuesday, Marketbeat.com reports. The brokerage currently has a “hold” rating on the real estate investment trust’s stock. Truist Financial’s price objective would suggest a potential downside of 2.00% from the company’s current price.

A number of other research analysts also recently issued reports on EXR. Mizuho boosted their price objective on Extra Space Storage from $137.00 to $143.00 and gave the company an “outperform” rating in a research note on Monday, January 12th. Barclays reissued an “overweight” rating and issued a $164.00 price target on shares of Extra Space Storage in a research note on Tuesday, January 13th. Royal Bank Of Canada reduced their price objective on shares of Extra Space Storage from $148.00 to $146.00 and set a “sector perform” rating for the company in a research report on Friday, November 7th. Evercore ISI reiterated a “cautious” rating on shares of Extra Space Storage in a research report on Monday, November 3rd. Finally, Weiss Ratings restated a “hold (c)” rating on shares of Extra Space Storage in a report on Wednesday, October 8th. Six analysts have rated the stock with a Buy rating and eleven have issued a Hold rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $146.53.

Extra Space Storage Trading Up 1.3%

NYSE:EXR opened at $148.99 on Tuesday. Extra Space Storage has a 52 week low of $121.03 and a 52 week high of $162.77. The company has a debt-to-equity ratio of 0.89, a quick ratio of 0.24 and a current ratio of 0.24. The firm’s fifty day moving average is $133.28 and its 200-day moving average is $139.69. The firm has a market cap of $31.62 billion, a P/E ratio of 33.26, a P/E/G ratio of 2.75 and a beta of 1.27.

Extra Space Storage (NYSE:EXR) last announced its earnings results on Wednesday, October 29th. The real estate investment trust reported $2.08 earnings per share for the quarter, topping analysts’ consensus estimates of $2.06 by $0.02. The business had revenue of $858.46 million during the quarter, compared to the consensus estimate of $736.26 million. Extra Space Storage had a net margin of 28.40% and a return on equity of 6.56%. Extra Space Storage’s quarterly revenue was up 4.1% on a year-over-year basis. During the same quarter last year, the firm earned $2.07 earnings per share. Extra Space Storage has set its FY 2025 guidance at 8.120-8.20 EPS. Equities analysts expect that Extra Space Storage will post 8.1 earnings per share for the current year.

Hedge Funds Weigh In On Extra Space Storage

Several large investors have recently added to or reduced their stakes in EXR. Avalon Trust Co bought a new stake in Extra Space Storage during the 3rd quarter worth approximately $28,000. Caitong International Asset Management Co. Ltd purchased a new position in shares of Extra Space Storage during the third quarter valued at approximately $28,000. Chung Wu Investment Group LLC bought a new stake in Extra Space Storage during the second quarter worth $29,000. 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 buying an additional 80 shares during the last quarter. Finally, Davis Capital Management purchased a new stake in Extra Space Storage in the 3rd quarter valued at $35,000. 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.