Extra Space Storage (NYSE:EXR) PT Raised to $170.00

by · The Markets Daily

Extra Space Storage (NYSE:EXR – Free Report) had its price target raised by Evercore ISI from $167.00 to $170.00 in a report published on Monday, Benzinga reports. The firm currently has an in-line rating on the real estate investment trust’s stock.

EXR has been the topic of several other research reports. StockNews.com upgraded shares of Extra Space Storage from a sell rating to a hold rating in a report on Tuesday, July 23rd. Scotiabank increased their price target on shares of Extra Space Storage from $159.00 to $169.00 and gave the stock a sector underperform rating in a report on Thursday, August 22nd. Citigroup cut their price target on shares of Extra Space Storage from $168.00 to $160.00 and set a neutral rating on the stock in a report on Friday, June 7th. Barclays raised their price objective on shares of Extra Space Storage from $158.00 to $188.00 and gave the stock an overweight rating in a research note on Thursday, August 22nd. Finally, Wells Fargo & Company raised their price objective on shares of Extra Space Storage from $160.00 to $175.00 and gave the stock an overweight rating in a research note on Friday, July 26th. Two analysts have rated the stock with a sell rating, seven have issued a hold rating and seven have issued a buy rating to the company’s stock. Based on data from MarketBeat, Extra Space Storage has a consensus rating of Hold and a consensus target price of $170.93.

View Our Latest Stock Report on Extra Space Storage

Extra Space Storage Price Performance

Shares of NYSE:EXR opened at $181.65 on Monday. Extra Space Storage has a twelve month low of $101.19 and a twelve month high of $184.87. The company’s 50 day moving average is $169.24 and its 200 day moving average is $154.28. The company has a current ratio of 0.20, a quick ratio of 0.20 and a debt-to-equity ratio of 0.76. The company has a market cap of $38.46 billion, a PE ratio of 40.46, a price-to-earnings-growth ratio of 2.56 and a beta of 0.86.

Extra Space Storage Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, September 30th. Investors of record on Monday, September 16th will be paid 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 3.57%. Extra Space Storage’s dividend payout ratio is currently 144.32%.

Insider Activity at Extra Space Storage

In related news, EVP William N. Springer sold 2,000 shares of Extra Space Storage stock in a transaction on Wednesday, August 28th. The shares were sold at an average price of $175.33, for a total value 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 filing with the Securities & Exchange Commission, which is available through this hyperlink. In other Extra Space Storage news, Director Kenneth M. Woolley sold 6,647 shares of the firm’s stock in a transaction on Friday, September 13th. The stock was sold at an average price of $177.23, for a total value of $1,178,047.81. Following the transaction, the director now owns 404,306 shares in the company, valued at approximately $71,655,152.38. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP William N. Springer sold 2,000 shares of the firm’s stock in a transaction on Wednesday, August 28th. The shares were sold at an average price of $175.33, for a total value of $350,660.00. Following the completion of 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. In the last quarter, insiders have sold 18,970 shares of company stock valued at $3,172,757. 1.36% of the stock is owned by company insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Massmutual Trust Co. FSB ADV lifted its holdings in Extra Space Storage by 19.7% in the 2nd quarter. Massmutual Trust Co. FSB ADV now owns 461 shares of the real estate investment trust’s stock valued at $72,000 after purchasing an additional 76 shares in the last quarter. QRG Capital Management Inc. raised its holdings in shares of Extra Space Storage by 5.2% during the 1st quarter. QRG Capital Management Inc. now owns 1,588 shares of the real estate investment trust’s stock worth $233,000 after acquiring an additional 78 shares during the period. Park Avenue Securities LLC raised its holdings in shares of Extra Space Storage by 2.1% during the 2nd quarter. Park Avenue Securities LLC now owns 3,773 shares of the real estate investment trust’s stock worth $586,000 after acquiring an additional 79 shares during the period. Gallacher Capital Management LLC raised its holdings in shares of Extra Space Storage by 1.2% during the 2nd quarter. Gallacher Capital Management LLC now owns 7,433 shares of the real estate investment trust’s stock worth $1,155,000 after acquiring an additional 86 shares during the period. Finally, Profund Advisors LLC raised its holdings in shares of Extra Space Storage by 2.9% during the 2nd quarter. Profund Advisors LLC now owns 3,279 shares of the real estate investment trust’s stock worth $510,000 after acquiring an additional 93 shares during the period. Hedge funds and other institutional investors own 99.11% of the company’s stock.

Extra Space Storage Company Profile

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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.

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