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

Extra Space Storage Inc. (NYSE:EXR) has been given an average rating of “Hold” by the fourteen ratings firms that are covering the firm, Marketbeat Ratings reports. Two equities research analysts have rated the stock with a sell recommendation, six have issued a hold recommendation and six have assigned a buy recommendation to the company. The average 12 month target price among analysts that have covered the stock in the last year is $168.36.

Several equities research analysts recently issued reports on EXR shares. KeyCorp boosted their price target on Extra Space Storage from $172.00 to $178.00 and gave the company an “overweight” rating in a research note on Monday, September 9th. Barclays upped their target price on Extra Space Storage from $158.00 to $188.00 and gave the company an “overweight” rating in a research report on Thursday, August 22nd. Citigroup decreased their price target on Extra Space Storage from $168.00 to $160.00 and set a “neutral” rating on the stock in a research report on Friday, June 7th. Scotiabank upped their price objective on shares of Extra Space Storage from $159.00 to $169.00 and gave the stock a “sector underperform” rating in a research report on Thursday, August 22nd. Finally, StockNews.com upgraded shares of Extra Space Storage from a “sell” rating to a “hold” rating in a research note on Tuesday, July 23rd.

Insiders Place Their Bets

In related news, EVP William N. Springer sold 2,000 shares of the firm’s stock in a transaction on Wednesday, August 28th. The stock was sold at an average price of $175.33, for a total transaction of $350,660.00. Following the sale, the executive vice president now owns 11,919 shares of the company’s stock, valued at approximately $2,089,758.27. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. In other Extra Space Storage news, CEO Joseph D. Margolis sold 7,500 shares of the company’s stock in a transaction that occurred on Monday, July 1st. The shares were sold at an average price of $152.58, for a total value of $1,144,350.00. Following the completion of the transaction, the chief executive officer now directly owns 31,690 shares in the company, valued at approximately $4,835,260.20. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, EVP William N. Springer sold 2,000 shares of Extra Space Storage stock in a transaction on Wednesday, August 28th. The stock was sold at an average price of $175.33, for a total transaction of $350,660.00. Following the transaction, the executive vice president now owns 11,919 shares in the company, valued at approximately $2,089,758.27. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 12,323 shares of company stock valued at $1,994,709. 1.36% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of the stock. EdgeRock Capital LLC bought a new stake in shares of Extra Space Storage in the 2nd quarter valued at about $25,000. Creekmur Asset Management LLC bought a new stake in Extra Space Storage in the fourth quarter valued at approximately $26,000. Centerpoint Advisors LLC acquired a new stake in Extra Space Storage during the 2nd quarter valued at approximately $27,000. Blue Trust Inc. lifted its position in shares of Extra Space Storage by 540.5% in the 2nd quarter. Blue Trust Inc. now owns 237 shares of the real estate investment trust’s stock worth $35,000 after purchasing an additional 200 shares during the period. Finally, Whittier Trust Co. of Nevada Inc. lifted its position in shares of Extra Space Storage by 2,760.0% in the 2nd quarter. Whittier Trust Co. of Nevada Inc. now owns 286 shares of the real estate investment trust’s stock worth $44,000 after purchasing an additional 276 shares during the period. 99.11% of the stock is owned by institutional investors.

Extra Space Storage Price Performance

Shares of Extra Space Storage stock opened at $177.90 on Wednesday. The company has a 50-day simple moving average of $167.71 and a two-hundred day simple moving average of $153.58. Extra Space Storage has a twelve month low of $101.19 and a twelve month high of $179.23. The stock has a market capitalization of $37.70 billion, a price-to-earnings ratio of 39.62, a price-to-earnings-growth ratio of 2.56 and a beta of 0.86. The company has a quick ratio of 0.20, a current ratio of 0.20 and a debt-to-equity ratio of 0.76.

Extra Space Storage Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, September 30th. Shareholders of record on Monday, September 16th will be given a $1.62 dividend. The ex-dividend date of this dividend is Monday, September 16th. This represents a $6.48 dividend on an annualized basis and a yield of 3.64%. Extra Space Storage’s dividend payout ratio is currently 144.32%.

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.