Extra Space Storage Inc. (NYSE:EXR) Receives Consensus Rating of “Hold” from Brokerages

Extra Space Storage Inc. (NYSE:EXR) has earned an average rating of “Hold” from the twelve ratings firms that are covering the stock, MarketBeat Ratings reports. One analyst has rated the stock with a sell recommendation, seven have issued a hold recommendation and four have issued a buy recommendation on the company. The average twelve-month price objective among analysts that have issued ratings on the stock in the last year is $171.25.

Several equities research analysts have recently commented on the company. Truist Financial boosted their price objective on Extra Space Storage from $167.00 to $168.00 and gave the company a “hold” rating in a report on Thursday, December 5th. StockNews.com downgraded Extra Space Storage from a “hold” rating to a “sell” rating in a report on Thursday, October 31st. Evercore ISI decreased their price target on Extra Space Storage from $170.00 to $168.00 and set an “in-line” rating for the company in a report on Monday, October 14th. Barclays decreased their price target on Extra Space Storage from $192.00 to $184.00 and set an “overweight” rating for the company in a report on Monday, January 13th. Finally, Scotiabank upgraded Extra Space Storage from a “sector underperform” rating to a “sector perform” rating and set a $167.00 price target for the company in a report on Friday, January 10th.

Extra Space Storage Price Performance

Shares of EXR opened at $150.75 on Tuesday. Extra Space Storage has a 52-week low of $131.02 and a 52-week high of $184.87. The company has a debt-to-equity ratio of 0.77, a quick ratio of 0.23 and a current ratio of 0.23. The business’s 50 day moving average price is $156.95 and its two-hundred day moving average price is $164.96. The firm has a market cap of $31.96 billion, a PE ratio of 39.46, a price-to-earnings-growth ratio of 7.18 and a beta of 0.91.

Extra Space Storage (NYSE:EXR) last released its quarterly earnings data on Tuesday, October 29th. The real estate investment trust reported $0.91 EPS for the quarter, missing the consensus estimate of $2.03 by ($1.12). The firm had revenue of $824.80 million for the quarter, compared to the consensus estimate of $826.93 million. Extra Space Storage had a net margin of 25.35% and a return on equity of 5.51%. The company’s revenue was up 10.2% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $2.02 EPS. On average, equities analysts anticipate that Extra Space Storage will post 8.1 EPS for the current year.

Extra Space Storage Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, December 31st. Shareholders of record on Monday, December 16th were given a $1.62 dividend. The ex-dividend date was Monday, December 16th. This represents a $6.48 annualized dividend and a yield of 4.30%. Extra Space Storage’s dividend payout ratio is currently 169.63%.

Insiders Place Their Bets

In other news, CEO Joseph D. Margolis sold 7,500 shares of the company’s stock in a transaction on Thursday, January 2nd. The stock was sold at an average price of $148.01, for a total transaction of $1,110,075.00. Following the transaction, the chief executive officer now owns 16,690 shares of the company’s stock, valued at $2,470,286.90. This represents a 31.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Diane Olmstead sold 3,081 shares of the company’s stock in a transaction on Friday, November 15th. The shares were sold at an average price of $164.56, for a total value of $507,009.36. Following the transaction, the director now directly owns 5,877 shares in the company, valued at $967,119.12. This represents a 34.39 % decrease in their position. The disclosure for this sale can be found here. Insiders own 1.36% of the company’s stock.

Institutional Trading of Extra Space Storage

Institutional investors have recently added to or reduced their stakes in the stock. Ashton Thomas Securities LLC purchased a new stake in Extra Space Storage during the 3rd quarter worth about $33,000. Harvest Fund Management Co. Ltd purchased a new stake in Extra Space Storage during the 3rd quarter worth about $42,000. Continuum Advisory LLC lifted its holdings in Extra Space Storage by 68.1% during the 3rd quarter. Continuum Advisory LLC now owns 311 shares of the real estate investment trust’s stock worth $56,000 after purchasing an additional 126 shares in the last quarter. Sunbelt Securities Inc. lifted its holdings in Extra Space Storage by 441.2% during the 2nd quarter. Sunbelt Securities Inc. now owns 617 shares of the real estate investment trust’s stock worth $96,000 after purchasing an additional 503 shares in the last quarter. Finally, DiNuzzo Private Wealth Inc. purchased a new stake in Extra Space Storage during the 3rd quarter worth about $129,000. Hedge funds and other institutional investors own 99.11% of the company’s stock.

Extra Space Storage Company Profile

Extra Space Storage Inc, headquartered in Salt Lake City, Utah, is a self-administered and self-managed REIT and a member of the S&P 500. As of December 31, 2023, the Company owned and/or operated 3,714 self-storage stores in 42 states and Washington, DC The Company's stores comprise approximately 2.6 million units and approximately 283.0 million square feet of rentable space operating under the Extra Space, Life Storage and Storage Express brands.