Extra Space Storage Inc (NYSE:EXR) Receives Average Rating of "Hold" from Analysts

Key Points

• Analysts maintain a consensus “Hold” rating on Extra Space Storage, with nine hold ratings and seven buys. The average 12-month price target is $149.47, above the stock’s reported $131.57 opening price.
• Extra Space Storage reported quarterly EPS of $1.25, beating estimates of $1.16, while revenue reached $874.15 million and increased 3.9% year over year. Analysts expect full-year EPS of approximately $8.34.
• The REIT pays a quarterly dividend of $1.62 per share, equivalent to an annualized $6.48 and a 4.9% yield. Institutional investors own a significant 99.11% of the company’s outstanding stock.

Shares of Extra Space Storage Inc (NYSE:EXR - Get Free Report) have been given a consensus rating of "Hold" by the sixteen ratings firms that are currently covering the firm, Marketbeat Ratings reports. Nine equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. The average 12 month price target among brokers that have covered the stock in the last year is $149.47.

EXR has been the subject of several research analyst reports. Weiss Ratings upgraded Extra Space Storage from a "hold (c)" rating to a "hold (c+)" rating in a research note on Friday, August 7th. Scotiabank lifted their price objective on 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. Barclays boosted their target price on Extra Space Storage from $170.00 to $172.00 and gave the stock an "overweight" rating in a report on Friday, July 10th. Wells Fargo & Company cut their price target on shares of Extra Space Storage from $158.00 to $157.00 and set an "overweight" rating on the stock in a report on Tuesday, September 1st. Finally, The Goldman Sachs Group reaffirmed a "neutral" rating and set a $160.00 price target on shares of Extra Space Storage in a research report on Thursday, July 30th.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of the business. BlackRock Inc. acquired a new position in shares of Extra Space Storage in the 2nd quarter worth approximately $3,334,263,000. Cohen & Steers Inc. raised its position in shares of Extra Space Storage by 13.4% during the 4th quarter. Cohen & Steers Inc. now owns 15,979,424 shares of the real estate investment trust's stock valued at $2,080,971,000 after acquiring an additional 1,888,763 shares in the last quarter. Capital International Investors lifted its stake in Extra Space Storage by 73.9% during the fourth quarter. Capital International Investors now owns 6,256,687 shares of the real estate investment trust's stock worth $814,746,000 after purchasing an additional 2,658,947 shares during the last quarter. JPMorgan Chase & Co. lifted its stake in Extra Space Storage by 2.0% during the fourth quarter. JPMorgan Chase & Co. now owns 3,944,084 shares of the real estate investment trust's stock worth $513,599,000 after purchasing an additional 77,221 shares during the last quarter. Finally, First Eagle Investment Management LLC boosted its holdings in Extra Space Storage by 1.0% in the second quarter. First Eagle Investment Management LLC now owns 3,876,997 shares of the real estate investment trust's stock worth $563,328,000 after purchasing an additional 38,306 shares during the period. Institutional investors and hedge funds own 99.11% of the company's stock.

Extra Space Storage Trading Down 1.4%

Shares of Extra Space Storage stock opened at $131.57 on Thursday. The company has a 50-day moving average of $142.68 and a two-hundred day moving average of $142.34. Extra Space Storage has a 12-month low of $125.71 and a 12-month high of $158.88. The company has a current ratio of 1.56, a quick ratio of 1.56 and a debt-to-equity ratio of 0.96. The stock has a market cap of $27.80 billion, a PE ratio of 29.04, a price-to-earnings-growth ratio of 3.96 and a beta of 1.16.

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 EPS for the quarter, beating the consensus estimate 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 quarterly revenue was up 3.9% on a year-over-year basis. During the same period in the prior year, the business earned $2.05 earnings per share. Extra Space Storage has set its FY 2026 guidance at 8.250-8.400 EPS. On average, research analysts anticipate that Extra Space Storage will post 8.34 EPS for the current fiscal year.

Extra Space Storage Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, September 30th. Stockholders of record on Tuesday, September 15th were given a dividend of $1.62 per share. This represents a $6.48 dividend on an annualized basis and a dividend yield of 4.9%. The ex-dividend date of this dividend was Tuesday, September 15th. Extra Space Storage's payout ratio is presently 143.05%.

Extra Space Storage Company Profile

Extra Space Storage Inc is a real estate investment trust (REIT) that owns, operates, manages and develops self-storage facilities. Its properties provide personal and business customers with space for storing household goods, vehicles, business inventory and other belongings in a range of unit sizes. Many facilities offer features such as climate-controlled units, drive-up access, online rentals and electronic payments.

The company also provides third-party management services for self-storage properties owned by other investors and participates in joint ventures.

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