Extra Space Storage Inc. (NYSE:EXR) Receives Consensus Recommendation of "Moderate Buy" from Analysts

Extra Space Storage Inc. (NYSE:EXR - Get Free Report) has earned an average rating of "Moderate Buy" from the thirteen brokerages that are currently covering the stock, Marketbeat Ratings reports. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating, six have issued a buy rating and one has given a strong buy rating to the company. The average twelve-month price target among brokerages that have issued ratings on the stock in the last year is $167.25.

Several brokerages have recently weighed in on EXR. Scotiabank raised shares of Extra Space Storage from a "sector perform" rating to a "sector outperform" rating and dropped their price objective for the company from $165.00 to $149.00 in a research report on Wednesday, April 9th. StockNews.com lowered shares of Extra Space Storage from a "hold" rating to a "sell" rating in a research report on Friday, March 7th. Wells Fargo & Company dropped their price objective on shares of Extra Space Storage from $170.00 to $165.00 and set an "equal weight" rating on the stock in a research report on Friday, February 21st. Royal Bank of Canada dropped their price objective on shares of Extra Space Storage from $167.00 to $163.00 and set a "sector perform" rating on the stock in a research report on Thursday, February 27th. Finally, Barclays lowered their price target on shares of Extra Space Storage from $184.00 to $181.00 and set an "overweight" rating on the stock in a research report on Wednesday, March 12th.

Extra Space Storage Stock Performance

EXR stock traded down $0.52 during trading hours on Thursday, reaching $141.39. The stock had a trading volume of 1,154,398 shares, compared to its average volume of 1,061,511. The stock has a market capitalization of $30.01 billion, a PE ratio of 37.01, a price-to-earnings-growth ratio of 7.76 and a beta of 0.96. The company has a debt-to-equity ratio of 0.77, a current ratio of 0.23 and a quick ratio of 0.23. The stock has a 50-day simple moving average of $144.98 and a 200 day simple moving average of $153.81. Extra Space Storage has a fifty-two week low of $121.03 and a fifty-two week high of $184.87.

Extra Space Storage (NYSE:EXR - Get Free Report) last issued its quarterly earnings data on Tuesday, April 29th. The real estate investment trust reported $2.00 earnings per share for the quarter, beating the consensus estimate of $1.98 by $0.02. Extra Space Storage had a net margin of 25.35% and a return on equity of 5.51%. Extra Space Storage's revenue was up 2.6% compared to the same quarter last year. During the same period last year, the firm earned $1.96 EPS. Analysts predict that Extra Space Storage will post 8.1 EPS for the current fiscal year.

Extra Space Storage Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, March 31st. Shareholders of record on Friday, March 14th were issued a $1.62 dividend. This represents a $6.48 annualized dividend and a yield of 4.58%. The ex-dividend date of this dividend was Friday, March 14th. Extra Space Storage's dividend payout ratio is currently 160.40%.

Insider Buying and Selling at Extra Space Storage

In other news, CEO Joseph D. Margolis sold 7,500 shares of the company's stock in a transaction on Tuesday, April 1st. The shares were sold at an average price of $147.45, for a total transaction of $1,105,875.00. Following the completion of the transaction, the chief executive officer now directly owns 9,190 shares in the company, valued at approximately $1,355,065.50. This represents a 44.94 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP William N. Springer sold 1,220 shares of the stock in a transaction on Friday, February 28th. The shares were sold at an average price of $152.66, for a total value of $186,245.20. Following the completion of the transaction, the executive vice president now owns 20,158 shares of the company's stock, valued at $3,077,320.28. The trade was a 5.71 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 9,392 shares of company stock valued at $1,392,315 in the last ninety days. 1.36% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of the company. Oregon Public Employees Retirement Fund lifted its stake in shares of Extra Space Storage by 0.4% in the 4th quarter. Oregon Public Employees Retirement Fund now owns 18,160 shares of the real estate investment trust's stock valued at $2,717,000 after acquiring an additional 66 shares during the last quarter. Wedge Capital Management L L P NC lifted its stake in shares of Extra Space Storage by 1.3% in the 4th quarter. Wedge Capital Management L L P NC now owns 5,138 shares of the real estate investment trust's stock valued at $769,000 after acquiring an additional 68 shares during the last quarter. Lindbrook Capital LLC lifted its stake in shares of Extra Space Storage by 14.9% in the 4th quarter. Lindbrook Capital LLC now owns 523 shares of the real estate investment trust's stock valued at $78,000 after acquiring an additional 68 shares during the last quarter. Aptus Capital Advisors LLC lifted its stake in shares of Extra Space Storage by 4.3% in the 4th quarter. Aptus Capital Advisors LLC now owns 1,638 shares of the real estate investment trust's stock valued at $245,000 after acquiring an additional 68 shares during the last quarter. Finally, Siemens Fonds Invest GmbH lifted its stake in shares of Extra Space Storage by 3.0% in the 4th quarter. Siemens Fonds Invest GmbH now owns 2,320 shares of the real estate investment trust's stock valued at $342,000 after acquiring an additional 68 shares during the last quarter. 99.11% of the stock is currently owned by institutional investors.

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.