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

Key Points

• Extra Space Storage has a consensus analyst rating of “Hold”, based on 16 ratings firms, with 10 hold ratings and 6 buy ratings. The average 12-month price target is about $146.27.
• Recent analyst actions were mixed: Bank of America upgraded the stock to neutral and raised its target to $156, while Wells Fargo maintained an overweight rating and Truist kept a hold rating with a higher target. Raymond James also initiated coverage with an outperform rating.
• The company reported Q1 earnings of $1.14 per share, missing estimates, though revenue came in slightly above expectations at $856.03 million. Extra Space Storage also pays a quarterly dividend of $1.62 per share, yielding about 4.4%.

Extra Space Storage Inc (NYSE:EXR - Get Free Report) has received a consensus recommendation of "Hold" from the sixteen ratings firms that are currently covering the company, Marketbeat.com reports. Ten equities research analysts have rated the stock with a hold rating and six have issued a buy rating on the company. The average 1 year target price among brokerages that have issued a report on the stock in the last year is $146.2667.

A number of analysts recently issued reports on EXR shares. Bank of America raised shares of Extra Space Storage from an "underperform" rating to a "neutral" rating and increased their target price for the stock from $147.00 to $156.00 in a research report on Tuesday, June 16th. Raymond James Financial initiated coverage on shares of Extra Space Storage in a research report on Thursday. They set an "outperform" rating and a $44.00 price target on the stock. Wall Street Zen upgraded shares of Extra Space Storage from a "sell" rating to a "hold" rating in a research note on Saturday. Wells Fargo & Company increased their price objective on shares of Extra Space Storage from $148.00 to $154.00 and gave the stock an "overweight" rating in a research report on Monday, June 1st. Finally, Truist Financial raised their target price on shares of Extra Space Storage from $140.00 to $148.00 and gave the company a "hold" rating in a research note on Wednesday, June 17th.

Insider Buying and Selling

In other Extra Space Storage 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 value of $495,000.00. Following the transaction, the executive vice president directly 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 transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 0.96% of the stock is owned by company insiders.

Institutional Investors Weigh In On Extra Space Storage

Large investors have recently modified their holdings of the stock. Pensionfund Sabic acquired a new position in Extra Space Storage in the fourth quarter worth $1,153,000. Nomura Asset Management Co. Ltd. raised its holdings in shares of Extra Space Storage by 2.5% during the fourth quarter. Nomura Asset Management Co. Ltd. now owns 391,044 shares of the real estate investment trust's stock worth $50,922,000 after purchasing an additional 9,492 shares during the period. Bayhunt Capital LLC acquired a new stake in shares of Extra Space Storage during the fourth quarter worth $14,650,000. Norges Bank bought a new position in shares of Extra Space Storage in the 4th quarter worth about $1,219,606,000. Finally, Manning & Napier Advisors LLC lifted its position in shares of Extra Space Storage by 3,007.7% in the 4th quarter. Manning & Napier Advisors LLC now owns 40,089 shares of the real estate investment trust's stock worth $5,220,000 after buying an additional 38,799 shares during the last quarter. Institutional investors and hedge funds own 99.11% of the company's stock.

Extra Space Storage Price Performance

Shares of Extra Space Storage stock opened at $148.38 on Friday. Extra Space Storage has a twelve month low of $125.71 and a twelve month high of $155.19. The stock has a market capitalization of $31.35 billion, a P/E ratio of 33.27, a PEG ratio of 4.66 and a beta of 1.19. The company has a current ratio of 0.37, a quick ratio of 0.37 and a debt-to-equity ratio of 0.93. The business's fifty day moving average price is $145.31 and its 200 day moving average price is $142.13.

Extra Space Storage (NYSE:EXR - Get Free Report) last released its quarterly earnings data on Tuesday, April 28th. The real estate investment trust reported $1.14 EPS for the quarter, missing analysts' consensus estimates of $2.01 by ($0.87). The firm had revenue of $856.03 million during the quarter, compared to analysts' expectations of $851.35 million. Extra Space Storage had a return on equity of 6.65% and a net margin of 27.66%.The business's revenue for the quarter was up 4.4% compared to the same quarter last year. During the same quarter last year, the business earned $2.00 earnings per share. Extra Space Storage has set its FY 2026 guidance at 8.050-8.350 EPS. As a group, research analysts anticipate that Extra Space Storage will post 8.26 earnings per share for the current year.

Extra Space Storage Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, June 30th. Investors of record on Monday, June 15th were issued a $1.62 dividend. This represents a $6.48 annualized dividend and a yield of 4.4%. The ex-dividend date was Monday, June 15th. Extra Space Storage's dividend payout ratio is currently 145.29%.

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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