Extra Space Storage Inc. (NYSE:EXR) Receives $174.00 Consensus Target Price from Analysts

Extra Space Storage Inc. (NYSE:EXR) has been given a consensus rating of “Hold” by the eleven ratings firms that are covering the stock, MarketBeat.com reports. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating and four have assigned a buy rating to the company. The average 12-month price target among brokerages that have issued ratings on the stock in the last year is $174.00.

EXR has been the subject of several recent research reports. Wells Fargo & Company reiterated an “equal weight” rating and set a $175.00 price objective on shares of Extra Space Storage in a report on Monday, October 21st. Barclays reduced 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. Scotiabank upgraded Extra Space Storage from a “sector underperform” rating to a “sector perform” rating and set a $167.00 price objective on the stock in a report on Friday, January 10th. Truist Financial raised their price objective on shares of Extra Space Storage from $167.00 to $168.00 and gave the company a “hold” rating in a research report on Thursday, December 5th. Finally, StockNews.com raised shares of Extra Space Storage from a “sell” rating to a “hold” rating in a research report on Tuesday, January 28th.

Extra Space Storage Stock Performance

Shares of EXR stock opened at $154.84 on Friday. The stock’s fifty day simple moving average is $152.64 and its 200-day simple moving average is $164.12. The company has a market capitalization of $32.82 billion, a price-to-earnings ratio of 40.53, a P/E/G ratio of 7.77 and a beta of 0.91. The company has a current ratio of 0.23, a quick ratio of 0.23 and a debt-to-equity ratio of 0.77. Extra Space Storage has a 1-year low of $131.02 and a 1-year high of $184.87.

Extra Space Storage Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, December 31st. Stockholders of record on Monday, December 16th were given a $1.62 dividend. This represents a $6.48 dividend on an annualized basis and a dividend yield of 4.18%. The ex-dividend date was Monday, December 16th. Extra Space Storage’s dividend payout ratio (DPR) is presently 169.63%.

Insider Activity at Extra Space Storage

In related news, Director Diane Olmstead sold 3,081 shares of the company’s stock in a transaction dated 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 approximately $967,119.12. This represents a 34.39 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO Joseph D. Margolis sold 7,500 shares of the stock in a transaction that occurred 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 in the company, valued at approximately $2,470,286.90. The trade was a 31.00 % decrease in their position. The disclosure for this sale can be found here. 1.36% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Extra Space Storage

Hedge funds and other institutional investors have recently modified their holdings of the business. Czech National Bank grew its holdings in shares of Extra Space Storage by 7.0% during the third quarter. Czech National Bank now owns 43,172 shares of the real estate investment trust’s stock worth $7,779,000 after purchasing an additional 2,826 shares during the last quarter. Atomi Financial Group Inc. acquired a new stake in Extra Space Storage during the 3rd quarter worth approximately $246,000. Wedmont Private Capital grew its holdings in Extra Space Storage by 17.7% during the 3rd quarter. Wedmont Private Capital now owns 1,951 shares of the real estate investment trust’s stock worth $330,000 after acquiring an additional 294 shares during the last quarter. UMB Bank n.a. increased its position in Extra Space Storage by 3,636.8% in the 3rd quarter. UMB Bank n.a. now owns 18,684 shares of the real estate investment trust’s stock valued at $3,367,000 after acquiring an additional 18,184 shares during the period. Finally, Tobam increased its position in Extra Space Storage by 15.1% in the 3rd quarter. Tobam now owns 1,031 shares of the real estate investment trust’s stock valued at $186,000 after acquiring an additional 135 shares during the period. 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.