Extra Space Storage (NYSE:EXR) Given New $153.00 Price Target at JPMorgan Chase & Co.

Key Points

• JPMorgan lowered Extra Space Storage’s price target from $157 to $153 while maintaining a “neutral” rating, implying approximately 11.9% upside from the prior close.
• Analyst sentiment remains mixed, with seven “buy” ratings and nine “hold” ratings; the consensus rating is “hold” with an average price target of $149.53.
• Extra Space Storage exceeded quarterly EPS expectations, reporting $1.25 versus the $1.16 consensus estimate, while revenue increased 3.9% year over year to $874.15 million. Institutional investors own approximately 99.1% of the company’s shares.

Extra Space Storage (NYSE:EXR - Get Free Report) had its price objective reduced by stock analysts at JPMorgan Chase & Co. from $157.00 to $153.00 in a research report issued to clients and investors on Monday, Benzinga reports. The firm presently has a "neutral" rating on the real estate investment trust's stock. JPMorgan Chase & Co.'s price target indicates a potential upside of 11.88% from the stock's previous close.

Several other analysts have also recently issued reports on the company. Wall Street Zen upgraded Extra Space Storage from a "sell" rating to a "hold" rating in a research note on Sunday, August 9th. UBS Group lifted their target price on Extra Space Storage from $158.00 to $163.00 and gave the stock a "buy" rating in a research report on Friday, July 10th. Truist Financial upped their price target on Extra Space Storage from $140.00 to $148.00 and gave the company a "hold" rating in a research report on Wednesday, June 17th. BMO Capital Markets upgraded Extra Space Storage from a "market perform" rating to an "outperform" rating and raised their price objective for the stock from $160.00 to $170.00 in a research note on Thursday, August 27th. Finally, Barclays boosted their target price on shares of Extra Space Storage from $170.00 to $172.00 and gave the company an "overweight" rating in a research note on Friday, July 10th. Seven equities research analysts have rated the stock with a Buy rating and nine have issued a Hold rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of "Hold" and an average price target of $149.53.

Extra Space Storage Price Performance

Shares of EXR stock opened at $136.75 on Monday. The firm has a fifty day moving average of $144.75 and a two-hundred day moving average of $143.04. The firm has a market cap of $28.89 billion, a P/E ratio of 30.19, a P/E/G ratio of 3.92 and a beta of 1.16. Extra Space Storage has a 1-year low of $125.71 and a 1-year high of $158.88. The company has a debt-to-equity ratio of 0.96, a current ratio of 1.56 and a quick ratio of 1.56.

Extra Space Storage (NYSE:EXR - Get Free Report) last issued its earnings results on Tuesday, July 28th. The real estate investment trust reported $1.25 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.16 by $0.09. The business had revenue of $874.15 million for the quarter, compared to analyst estimates of $874.99 million. Extra Space Storage had a net margin of 27.80% and a return on equity of 6.70%. The company's revenue for the quarter was up 3.9% on a year-over-year basis. During the same quarter in the prior year, the business posted $2.05 EPS. Extra Space Storage has set its FY 2026 guidance at 8.250-8.400 EPS. As a group, research analysts anticipate that Extra Space Storage will post 8.34 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. BlackRock Inc. bought a new position in shares of Extra Space Storage during the second quarter worth about $3,334,263,000. Norges Bank bought a new stake in Extra Space Storage in the 4th quarter valued at about $1,219,606,000. Capital International Investors lifted its position in Extra Space Storage by 73.9% in the 4th quarter. Capital International Investors now owns 6,256,687 shares of the real estate investment trust's stock valued at $814,746,000 after purchasing an additional 2,658,947 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its stake in Extra Space Storage by 24,295.0% during the 2nd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 2,241,413 shares of the real estate investment trust's stock valued at $325,677,000 after purchasing an additional 2,232,225 shares during the period. Finally, Legal & General Group Plc acquired a new position in Extra Space Storage during the 2nd quarter valued at about $299,746,000. Institutional investors and hedge funds own 99.11% of the company's stock.

Extra Space Storage Company Profile

Extra Space Storage Inc is a real estate investment trust (REIT) that owns, operates, manages and acquires self-storage facilities. Its properties provide individuals and businesses with rental storage units in a range of sizes, along with vehicle, boat and recreational vehicle storage at select locations.

The company also provides third-party management services for self-storage properties owned by other investors and operators. Its services generally include facility operations, marketing, customer support, revenue management and technology solutions.

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