Mizuho Lowers Extra Space Storage (NYSE:EXR) Price Target to $152.00

Key Points

• Mizuho lowered Extra Space Storage’s price target to $152 from $155 while maintaining an “outperform” rating, implying approximately 8.55% upside from the stock’s $140.03 price.
• Analyst sentiment remains mixed: the consensus rating is “Hold,” with a target price of $148.93, based on seven Buy ratings and nine Hold ratings.
• Extra Space Storage beat quarterly EPS estimates, reporting $1.25 versus the $1.16 consensus, while revenue rose 3.9% year over year to $874.15 million. Institutional investors own 99.11% of the company’s shares.

Extra Space Storage (NYSE:EXR - Get Free Report) had its price target dropped by stock analysts at Mizuho from $155.00 to $152.00 in a note issued to investors on Wednesday, Benzinga reports. The firm presently has an "outperform" rating on the real estate investment trust's stock. Mizuho's target price would indicate a potential upside of 8.55% from the stock's current price.

EXR has been the subject of several other research reports. The Goldman Sachs Group reissued a "neutral" rating and issued a $160.00 price objective on shares of Extra Space Storage in a research note on Thursday, July 30th. Raymond James Financial began coverage on Extra Space Storage in a research note on Thursday, July 16th. They issued an "outperform" rating and a $44.00 target price on the stock. Scotiabank lifted their price target on shares of Extra Space Storage from $157.00 to $158.00 and gave the company a "sector perform" rating in a research note on Tuesday, August 18th. Wall Street Zen raised Extra Space Storage from a "sell" rating to a "hold" rating in a research report on Sunday, August 9th. Finally, Truist Financial raised their price target on Extra Space Storage from $140.00 to $148.00 and gave the company a "hold" rating in a research note on Wednesday, June 17th. Seven analysts have rated the stock with a Buy rating and nine have assigned a Hold rating to the stock. According to data from MarketBeat, the company currently has an average rating of "Hold" and a consensus target price of $148.93.

Extra Space Storage Stock Down 0.8%

Shares of NYSE EXR opened at $140.03 on Wednesday. The stock has a market capitalization of $29.58 billion, a price-to-earnings ratio of 30.91, a P/E/G ratio of 4.05 and a beta of 1.16. Extra Space Storage has a 12-month low of $125.71 and a 12-month high of $158.88. The firm's 50-day moving average price is $146.92 and its 200-day moving average price is $143.96. The company has a current ratio of 1.56, a quick ratio of 1.56 and a debt-to-equity ratio of 0.96.

Extra Space Storage (NYSE:EXR - Get Free Report) last released its quarterly earnings results on Tuesday, July 28th. The real estate investment trust reported $1.25 earnings per share for the quarter, beating the consensus estimate of $1.16 by $0.09. Extra Space Storage had a return on equity of 6.70% and a net margin of 27.80%.The company had revenue of $874.15 million for the quarter, compared to analyst estimates of $874.99 million. During the same quarter in the prior year, the firm posted $2.05 EPS. Extra Space Storage's quarterly revenue was up 3.9% compared to the same quarter last year. Extra Space Storage has set its FY 2026 guidance at 8.250-8.400 EPS. On average, equities research analysts anticipate that Extra Space Storage will post 8.33 EPS for the current fiscal year.

Insider Buying and Selling at Extra Space Storage

In related news, EVP Gwyn Goodson Mcneal sold 3,300 shares of the firm's stock in a transaction dated Thursday, June 11th. The stock was sold at an average price of $150.00, for a total transaction of $495,000.00. Following the sale, the executive vice president owned 37,374 shares of the company's stock, valued at $5,606,100. This trade represents a 8.11% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 0.96% of the stock is owned by company insiders.

Hedge Funds Weigh In On Extra Space Storage

A number of large investors have recently added to or reduced their stakes in EXR. Reflection Asset Management bought a new stake in shares of Extra Space Storage in the 4th quarter valued at about $26,000. Raiffeisen Bank International AG raised its stake in shares of Extra Space Storage by 82.4% during the 2nd quarter. Raiffeisen Bank International AG now owns 186 shares of the real estate investment trust's stock worth $28,000 after acquiring an additional 84 shares in the last quarter. Caitong International Asset Management Co. Ltd bought a new position in shares of Extra Space Storage during the 3rd quarter worth approximately $28,000. Cassaday & Co Wealth Management LLC purchased a new stake in Extra Space Storage during the first quarter valued at approximately $30,000. Finally, CoreCap Advisors LLC lifted its position in Extra Space Storage by 975.0% during the second quarter. CoreCap Advisors LLC now owns 258 shares of the real estate investment trust's stock valued at $37,000 after acquiring an additional 234 shares during the last quarter. 99.11% of the stock is currently owned by institutional investors.

About Extra Space Storage

Extra Space Storage NYSE: EXR is a real estate investment trust that specializes in the ownership, development and operation of self-storage properties. The company provides storage solutions for residential and commercial customers, offering a range of unit sizes, climate-controlled units and specialized options such as vehicle and boat storage. Extra Space Storage markets itself as a customer-focused operator, with online rentals, contactless move-in options and ancillary retail products like packing supplies and insurance to support tenant needs.

Its business model combines property ownership with third-party management and development activities.

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