Extra Space Storage (NYSE:EXR) Earns Outperform Rating from Analysts at Raymond James Financial

Key Points

• Raymond James Financial initiated coverage on Extra Space Storage with an Outperform rating and a $44 price target, though that target implies a steep downside from the stock’s prior close.
• Other analysts remain mixed on EXR, with recent moves including upgrades and higher targets from firms like Wells Fargo and Mizuho, while the overall consensus currently sits at Hold with an average target price of $146.27.
• The stock traded up about 1% to $147.02 on Thursday after the company reported a quarterly EPS miss but slightly beat revenue expectations; Extra Space Storage also guided FY2026 EPS at 8.05-8.35.

Research analysts at Raymond James Financial initiated coverage on shares of Extra Space Storage (NYSE:EXR - Get Free Report) in a research report issued to clients and investors on Thursday. The firm set an "outperform" rating and a $44.00 price target on the real estate investment trust's stock. Raymond James Financial's price objective would indicate a potential downside of 70.07% from the stock's previous close.

Other research analysts have also issued research reports about the company. Bank of America raised 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. Wells Fargo & Company lifted their price objective on shares of Extra Space Storage from $148.00 to $154.00 and gave the company an "overweight" rating in a research report on Monday, June 1st. JPMorgan Chase & Co. increased their price target on Extra Space Storage from $142.00 to $144.00 and gave the company a "neutral" rating in a report on Monday, March 23rd. Mizuho boosted their price target on Extra Space Storage from $150.00 to $155.00 and gave the company an "outperform" rating in a report on Wednesday, May 27th. Finally, BNP Paribas Exane upgraded shares of Extra Space Storage from a "neutral" rating to an "outperform" rating and set a $154.00 price target on the stock in a report on Wednesday, March 18th. Six research analysts have rated the stock with a Buy rating and ten have issued a Hold rating to the company's stock. Based on data from MarketBeat.com, Extra Space Storage currently has an average rating of "Hold" and an average target price of $146.27.

Extra Space Storage Trading Up 1.0%

Shares of NYSE:EXR traded up $1.52 during midday trading on Thursday, reaching $147.02. The company's stock had a trading volume of 16,588 shares, compared to its average volume of 1,248,701. The company has a debt-to-equity ratio of 0.93, a quick ratio of 0.37 and a current ratio of 0.37. The firm has a 50 day moving average price of $145.07 and a two-hundred day moving average price of $141.95. The firm has a market capitalization of $31.06 billion, a price-to-earnings ratio of 33.02, a PEG ratio of 4.51 and a beta of 1.19. Extra Space Storage has a fifty-two week low of $125.71 and a fifty-two week high of $155.19.

Extra Space Storage (NYSE:EXR - Get Free Report) last posted its quarterly earnings data on Tuesday, April 28th. The real estate investment trust reported $1.14 EPS for the quarter, missing the consensus estimate 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 net margin of 27.66% and a return on equity of 6.65%. The company's quarterly revenue was up 4.4% on a year-over-year basis. During the same quarter last year, the business posted $2.00 EPS. Extra Space Storage has set its FY 2026 guidance at 8.050-8.350 EPS. As a group, analysts forecast that Extra Space Storage will post 8.26 earnings per share for the current year.

Insider Buying and Selling at Extra Space Storage

In other Extra Space Storage news, EVP Gwyn Goodson Mcneal sold 3,300 shares of the stock in a transaction on 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 in the company, valued at approximately $5,606,100. This represents a 8.11% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 0.96% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in EXR. Reflection Asset Management acquired a new position in Extra Space Storage during the 4th quarter valued at about $26,000. Caitong International Asset Management Co. Ltd acquired a new position in Extra Space Storage in the 3rd quarter valued at approximately $28,000. Cassaday & Co Wealth Management LLC acquired a new position in Extra Space Storage in the first quarter worth approximately $30,000. Rosenberg Matthew Hamilton lifted its holdings in Extra Space Storage by 442.9% in the 4th quarter. Rosenberg Matthew Hamilton now owns 266 shares of the real estate investment trust's stock worth $35,000 after purchasing an additional 217 shares during the last quarter. Finally, CoreCap Advisors LLC lifted its position in shares of Extra Space Storage by 975.0% during the 2nd quarter. CoreCap Advisors LLC now owns 258 shares of the real estate investment trust's stock worth $37,000 after purchasing an additional 234 shares during the last quarter. 99.11% of the stock is owned by institutional investors and hedge funds.

Extra Space Storage Company Profile

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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