Extra Space Storage (NYSE:EXR) Price Target Raised to $157.00

Extra Space Storage (NYSE:EXR) had its target price upped by Royal Bank Of Canada from $153.00 to $157.00 in a research report report published on Thursday morning,Benzinga reports. They currently have a sector perform rating on the real estate investment trust’s stock.

EXR has been the subject of several other reports. Barclays increased their price objective on shares of Extra Space Storage from $170.00 to $172.00 and gave the stock an “overweight” rating in a research report on Friday, July 10th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Extra Space Storage in a research report on Friday, July 17th. Mizuho boosted their price target on Extra Space Storage from $150.00 to $155.00 and gave the company an “outperform” rating in a research note on Wednesday, May 27th. Bank of America upgraded shares of Extra Space Storage from an “underperform” rating to a “neutral” rating and upped their price objective for the company from $147.00 to $156.00 in a report on Tuesday, June 16th. Finally, Truist Financial increased their price objective on shares of Extra Space Storage from $140.00 to $148.00 and gave the stock a “hold” rating in a research report on Wednesday, June 17th. Six investment analysts have rated the stock with a Buy rating and ten have issued a Hold rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $147.73.

Extra Space Storage Stock Performance

NYSE:EXR opened at $148.49 on Thursday. The stock’s 50-day moving average is $146.52 and its 200-day moving average is $143.18. The stock has a market cap of $31.37 billion, a P/E ratio of 32.78, a price-to-earnings-growth ratio of 4.56 and a beta of 1.19. Extra Space Storage has a 1-year low of $125.71 and a 1-year high of $158.88. The company has a current ratio of 1.56, a quick ratio of 0.37 and a debt-to-equity ratio of 0.96.

Extra Space Storage (NYSE:EXR) last announced its quarterly earnings results on Tuesday, July 28th. The real estate investment trust reported $1.25 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.16 by $0.09. Extra Space Storage had a net margin of 27.80% and a return on equity of 6.70%. The firm had revenue of $874.15 million during the quarter, compared to analysts’ expectations of $874.99 million. During the same period in the prior year, the company posted $2.05 EPS. The company’s revenue was up 3.9% on a year-over-year basis. Extra Space Storage has set its FY 2026 guidance at 8.250-8.400 EPS. Equities research analysts anticipate that Extra Space Storage will post 8.29 earnings per share for the current year.

Extra Space Storage Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, June 30th. Shareholders of record on Monday, June 15th were paid a $1.62 dividend. The ex-dividend date was Monday, June 15th. This represents a $6.48 annualized dividend and a yield of 4.4%. Extra Space Storage’s dividend payout ratio (DPR) is 143.05%.

Insiders Place Their Bets

In other 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 completion of the sale, the executive vice president directly owned 37,374 shares of the company’s stock, valued at $5,606,100. This trade represents a 8.11% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Corporate insiders own 0.96% of the company’s stock.

Institutional Investors Weigh In On Extra Space Storage

A number of hedge funds have recently modified their holdings of EXR. Reflection Asset Management bought a new stake in shares of Extra Space Storage in the fourth quarter valued at approximately $26,000. Caitong International Asset Management Co. Ltd bought a new position in shares of Extra Space Storage in the third quarter worth $28,000. Cassaday & Co Wealth Management LLC purchased a new position in shares of Extra Space Storage in the first quarter valued at $30,000. CoreCap Advisors LLC grew its position in shares of Extra Space Storage by 975.0% in the second quarter. CoreCap Advisors LLC now owns 258 shares of the real estate investment trust’s stock valued at $37,000 after purchasing an additional 234 shares in the last quarter. Finally, DV Equities LLC bought a new stake in shares of Extra Space Storage during the 4th quarter valued at $39,000. 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.