Extra Space Storage (NYSE:EXR) Lowered to Sell Rating by Wall Street Zen

Key Points

• Wall Street Zen downgraded Extra Space Storage to “sell” from “hold,” despite several analysts recently raising their price targets. The broader analyst consensus remains “hold,” with an average price target of $147.73.
• Extra Space Storage shares opened at $148.49, near their 50-day average, while the company reported quarterly EPS of $1.25, beating estimates of $1.16. Revenue totaled $874.15 million, up 3.9% year over year but slightly below expectations.
• The company reaffirmed fiscal 2026 EPS guidance of $8.25–$8.40, and institutional investors remain heavily involved, owning 99.11% of outstanding shares.

Extra Space Storage (NYSE:EXR - Get Free Report) was downgraded by stock analysts at Wall Street Zen from a "hold" rating to a "sell" rating in a research note issued on Saturday.

A number of other equities analysts have also weighed in on EXR. Wells Fargo & Company boosted their price objective on Extra Space Storage from $154.00 to $158.00 and gave the stock an "overweight" rating in a research note on Friday, July 24th. Royal Bank Of Canada raised their target price on Extra Space Storage from $153.00 to $157.00 and gave the stock a "sector perform" rating in a research note on Thursday. Bank of America raised shares of Extra Space Storage from an "underperform" rating to a "neutral" rating and boosted their price target for the company from $147.00 to $156.00 in a research report on Tuesday, June 16th. Barclays upped their price objective on shares of Extra Space Storage from $170.00 to $172.00 and gave the company an "overweight" rating in a report on Friday, July 10th. Finally, Truist Financial raised their price objective on shares of Extra Space Storage from $140.00 to $148.00 and gave the stock a "hold" rating in a research report on Wednesday, June 17th. Six research analysts have rated the stock with a Buy rating and ten have issued a Hold rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of "Hold" and an average price target of $147.73.

Extra Space Storage Trading Up 0.2%

EXR opened at $148.49 on Friday. The firm has a market capitalization of $31.37 billion, a price-to-earnings ratio of 32.78, a price-to-earnings-growth ratio of 4.57 and a beta of 1.19. The company's 50 day simple moving average is $146.52 and its two-hundred day simple moving average is $143.18. Extra Space Storage has a 1-year low of $125.71 and a 1-year high of $158.88. The company has a debt-to-equity ratio of 0.96, a current ratio of 1.56 and a quick ratio of 0.37.

Extra Space Storage (NYSE:EXR - Get Free Report) last posted its quarterly earnings results on Tuesday, July 28th. The real estate investment trust reported $1.25 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.16 by $0.09. Extra Space Storage had a return on equity of 6.70% and a net margin of 27.80%.The business had revenue of $874.15 million during the quarter, compared to analyst estimates of $874.99 million. During the same period in the prior year, the business earned $2.05 earnings per share. The business's revenue was up 3.9% compared to the same quarter last year. Extra Space Storage has set its FY 2026 guidance at 8.250-8.400 EPS. Analysts expect that Extra Space Storage will post 8.29 EPS for the current fiscal year.

Insider Activity

In other news, EVP Gwyn Goodson Mcneal sold 3,300 shares of Extra Space Storage 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 completion of the transaction, the executive vice president owned 37,374 shares in the company, valued at approximately $5,606,100. This trade represents a 8.11% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Insiders own 0.96% of the company's stock.

Institutional Trading of Extra Space Storage

Hedge funds have recently added to or reduced their stakes in the company. Cromwell Holdings LLC grew its holdings in shares of Extra Space Storage by 14.6% during the 4th quarter. Cromwell Holdings LLC now owns 574 shares of the real estate investment trust's stock worth $75,000 after purchasing an additional 73 shares in the last quarter. Apollon Wealth Management LLC raised its stake in shares of Extra Space Storage by 1.9% in the first quarter. Apollon Wealth Management LLC now owns 3,986 shares of the real estate investment trust's stock valued at $523,000 after purchasing an additional 75 shares in the last quarter. Brown Advisory Inc. lifted its position in Extra Space Storage by 1.8% in the second quarter. Brown Advisory Inc. now owns 4,431 shares of the real estate investment trust's stock worth $653,000 after purchasing an additional 80 shares during the period. Manchester Capital Management LLC boosted its stake in Extra Space Storage by 18.9% during the fourth quarter. Manchester Capital Management LLC now owns 540 shares of the real estate investment trust's stock worth $70,000 after buying an additional 86 shares in the last quarter. Finally, Angeles Wealth Management LLC boosted its stake in Extra Space Storage by 3.2% during the first quarter. Angeles Wealth Management LLC now owns 2,794 shares of the real estate investment trust's stock worth $366,000 after buying an additional 87 shares in the last quarter. Institutional investors and hedge funds own 99.11% of the company's stock.

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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