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

Key Points

• The consensus rating for Extra Space Storage Inc (NYSE:EXR) is a "Hold" from 15 research firms, with 9 recommending a hold and 6 offering a buy.
• CEO Joseph D. Margolis sold 7,500 shares of the company's stock, resulting in a 21.58% decrease in his holdings.
• Extra Space Storage declared a quarterly dividend of $1.62, representing an annualized payout of $6.48 and a dividend yield of 4.6%.

Shares of Extra Space Storage Inc (NYSE:EXR - Get Free Report) have been assigned a consensus recommendation of "Hold" from the fifteen research firms that are presently covering the company, Marketbeat Ratings reports. Nine equities research analysts have rated the stock with a hold recommendation and six have assigned a buy recommendation to the company. The average 1-year price target among analysts that have issued ratings on the stock in the last year is $148.50.

Several brokerages have recently issued reports on EXR. Royal Bank Of Canada reduced their price objective on Extra Space Storage from $160.00 to $148.00 and set a "sector perform" rating for the company in a research note on Monday, August 4th. Wells Fargo & Company raised Extra Space Storage from an "equal weight" rating to an "overweight" rating and set a $160.00 price target on the stock in a research note on Tuesday, August 26th. Truist Financial reduced their target price on Extra Space Storage from $158.00 to $150.00 and set a "hold" rating on the stock in a research report on Tuesday, August 19th. Scotiabank reduced their target price on Extra Space Storage from $166.00 to $162.00 and set a "sector outperform" rating on the stock in a research report on Thursday, August 28th. Finally, BNP Paribas raised Extra Space Storage to a "hold" rating in a research note on Tuesday, June 24th.

Insider Buying and Selling at Extra Space Storage

In related news, CEO Joseph D. Margolis sold 7,500 shares of the stock in a transaction on Tuesday, July 1st. The stock was sold at an average price of $150.35, for a total value of $1,127,625.00. Following the transaction, the chief executive officer directly owned 27,260 shares of the company's stock, valued at approximately $4,098,541. This trade represents a 21.58% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. 0.96% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Extra Space Storage

A number of hedge funds have recently bought and sold shares of EXR. GKV Capital Management Co. Inc. acquired a new position in Extra Space Storage during the 1st quarter worth $29,000. Chung Wu Investment Group LLC purchased a new position in shares of Extra Space Storage during the 2nd quarter valued at $29,000. Elevation Point Wealth Partners LLC bought a new stake in Extra Space Storage in the second quarter worth $37,000. MTM Investment Management LLC acquired a new position in Extra Space Storage during the 2nd quarter worth $38,000. Finally, Zions Bancorporation National Association UT acquired a new position in shares of Extra Space Storage during the first quarter valued at about $50,000. 99.11% of the stock is currently owned by institutional investors and hedge funds.

Extra Space Storage Price Performance

EXR opened at $139.42 on Friday. The company has a current ratio of 0.29, a quick ratio of 0.29 and a debt-to-equity ratio of 0.88. The company has a market capitalization of $29.59 billion, a price-to-earnings ratio of 30.24, a PEG ratio of 3.38 and a beta of 1.09. Extra Space Storage has a 12-month low of $121.03 and a 12-month high of $183.22. The business's fifty day simple moving average is $143.22 and its 200-day simple moving average is $145.12.

Extra Space Storage (NYSE:EXR - Get Free Report) last issued its quarterly earnings data on Wednesday, July 30th. The real estate investment trust reported $2.05 earnings per share for the quarter, missing analysts' consensus estimates of $2.06 by ($0.01). Extra Space Storage had a return on equity of 6.69% and a net margin of 29.51%.The company had revenue of $841.62 million for the quarter, compared to analysts' expectations of $719.43 million. During the same quarter last year, the company earned $2.06 earnings per share. The company's revenue for the quarter was up 3.8% compared to the same quarter last year. Extra Space Storage has set its FY 2025 guidance at 8.050-8.25 EPS. On average, equities research analysts anticipate that Extra Space Storage will post 8.1 earnings per share for the current fiscal year.

Extra Space Storage Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, September 30th. Investors of record on Monday, September 15th will be issued a $1.62 dividend. The ex-dividend date is Monday, September 15th. This represents a $6.48 dividend on an annualized basis and a dividend yield of 4.6%. Extra Space Storage's dividend payout ratio is currently 140.56%.

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.

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