Extra Space Storage (NYSE:EXR) Coverage Initiated at BNP Paribas Exane

Investment analysts at BNP Paribas Exane assumed coverage on shares of Extra Space Storage (NYSE:EXR - Get Free Report) in a research report issued on Tuesday, MarketBeat reports. The brokerage set a "neutral" rating and a $156.00 price target on the real estate investment trust's stock. BNP Paribas Exane's price objective would suggest a potential upside of 7.06% from the company's previous close.

EXR has been the subject of several other reports. Mizuho raised their price objective on shares of Extra Space Storage from $141.00 to $153.00 and gave the stock an "outperform" rating in a report on Wednesday, May 28th. Royal Bank Of Canada reduced their price target on shares of Extra Space Storage from $163.00 to $160.00 and set a "sector perform" rating on the stock in a research report on Thursday, May 1st. Benchmark decreased their price target on Extra Space Storage from $61.00 to $55.00 and set a "buy" rating for the company in a research note on Tuesday, May 13th. Barclays cut their price objective on Extra Space Storage from $181.00 to $178.00 and set an "overweight" rating on the stock in a research note on Friday, May 16th. Finally, Bank of America increased their target price on Extra Space Storage from $155.00 to $161.00 and gave the stock a "neutral" rating in a report on Tuesday, May 13th. Nine analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of "Hold" and an average target price of $159.29.

Extra Space Storage Stock Up 0.0%

Shares of NYSE EXR traded up $0.07 during midday trading on Tuesday, reaching $145.72. 518,372 shares of the company's stock were exchanged, compared to its average volume of 1,055,335. The company has a debt-to-equity ratio of 0.85, a quick ratio of 0.33 and a current ratio of 0.33. Extra Space Storage has a 52-week low of $121.03 and a 52-week high of $184.87. The business's fifty day moving average price is $147.40 and its two-hundred day moving average price is $148.63. The stock has a market capitalization of $30.92 billion, a PE ratio of 33.83, a price-to-earnings-growth ratio of 3.53 and a beta of 1.11.

Extra Space Storage (NYSE:EXR - Get Free Report) last announced its earnings results on Tuesday, April 29th. The real estate investment trust reported $2.00 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.96 by $0.04. The company had revenue of $820.00 million for the quarter, compared to analyst estimates of $705.12 million. Extra Space Storage had a return on equity of 6.11% and a net margin of 27.84%. Extra Space Storage's quarterly revenue was up 2.6% on a year-over-year basis. During the same period in the prior year, the company posted $1.96 EPS. Analysts forecast that Extra Space Storage will post 8.1 EPS for the current year.

Insider Buying and Selling at Extra Space Storage

In other Extra Space Storage news, CEO Joseph D. Margolis sold 7,500 shares of the stock in a transaction on Tuesday, April 1st. The stock was 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 of the company's stock, valued at approximately $1,355,065.50. This trade represents a 44.94% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 0.96% of the stock is owned by corporate insiders.

Institutional Trading of Extra Space Storage

Several institutional investors have recently modified their holdings of EXR. Harbour Investments Inc. lifted its holdings in Extra Space Storage by 90.9% in the 4th quarter. Harbour Investments Inc. now owns 168 shares of the real estate investment trust's stock valued at $25,000 after acquiring an additional 80 shares during the last quarter. GKV Capital Management Co. Inc. acquired a new position in Extra Space Storage in the first quarter worth approximately $29,000. Zions Bancorporation National Association UT acquired a new stake in shares of Extra Space Storage during the 1st quarter valued at $50,000. Quarry LP grew its holdings in shares of Extra Space Storage by 156.1% in the 4th quarter. Quarry LP now owns 356 shares of the real estate investment trust's stock worth $53,000 after acquiring an additional 217 shares during the last quarter. Finally, Golden State Wealth Management LLC boosted its position in shares of Extra Space Storage by 147.0% in the 1st quarter. Golden State Wealth Management LLC now owns 405 shares of the real estate investment trust's stock valued at $60,000 after purchasing an additional 241 shares during the period. Institutional investors and hedge funds own 99.11% of the company's stock.

About Extra Space Storage

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.