Extra Space Storage (NYSE:EXR) Price Target Lowered to $160.00 at UBS Group

Key Points

• UBS Group has lowered its price target for Extra Space Storage from $169.00 to $160.00, maintaining a "buy" rating, which suggests a potential upside of 11.13% from its previous closing price.
• Extra Space Storage reported earnings per share of $2.05 for the last quarter, slightly below estimates, with revenue of $841.62 million, reflecting a 3.8% increase year-over-year.
• Institutional investors hold a significant share of the company, owning 99.11% of Extra Space Storage's stock, indicating strong confidence among large investment funds.

Extra Space Storage (NYSE:EXR - Get Free Report) had its price target dropped by research analysts at UBS Group from $169.00 to $160.00 in a note issued to investors on Tuesday, MarketBeat reports. The firm presently has a "buy" rating on the real estate investment trust's stock. UBS Group's price target would indicate a potential upside of 14.77% from the stock's current price.

Other equities analysts have also recently issued reports about the company. Royal Bank Of Canada dropped their price objective on Extra Space Storage from $160.00 to $148.00 and set a "sector perform" rating for the company in a report on Monday, August 4th. Barclays decreased their price target on shares of Extra Space Storage from $178.00 to $169.00 and set an "overweight" rating on the stock in a report on Friday, August 8th. BNP Paribas raised shares of Extra Space Storage to a "hold" rating in a report on Tuesday, June 24th. Citigroup decreased their price target on shares of Extra Space Storage from $165.00 to $150.00 and set a "neutral" rating on the stock in a report on Friday, August 22nd. Finally, Wall Street Zen upgraded Extra Space Storage from a "sell" rating to a "hold" rating in a research report on Tuesday, September 9th. Six equities research analysts have rated the stock with a Buy rating and nine have given a Hold rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of "Hold" and an average price target of $148.50.

Extra Space Storage Price Performance

NYSE EXR traded down $3.28 during midday trading on Tuesday, hitting $139.42. The company had a trading volume of 2,182,091 shares, compared to its average volume of 968,832. The company has a market capitalization of $29.59 billion, a PE ratio of 30.24, a P/E/G ratio of 3.46 and a beta of 1.09. 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 firm has a 50-day moving average price of $143.22 and a 200-day moving average price of $145.20. Extra Space Storage has a twelve month low of $121.03 and a twelve month high of $183.22.

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

Insider Activity at Extra Space Storage

In related news, CEO Joseph D. Margolis sold 7,500 shares of the company's stock in a transaction dated Tuesday, July 1st. The stock was sold at an average price of $150.35, for a total transaction of $1,127,625.00. Following the sale, the chief executive officer owned 27,260 shares in the company, valued at $4,098,541. This represents a 21.58% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 0.96% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the company. GKV Capital Management Co. Inc. acquired a new position in Extra Space Storage during the 1st quarter worth approximately $29,000. Chung Wu Investment Group LLC acquired a new position in Extra Space Storage during the 2nd quarter worth approximately $29,000. Elevation Point Wealth Partners LLC acquired a new position in Extra Space Storage during the 2nd quarter worth approximately $37,000. MTM Investment Management LLC acquired a new position in Extra Space Storage during the 2nd quarter worth approximately $38,000. Finally, Zions Bancorporation National Association UT acquired a new position in Extra Space Storage during the 1st quarter worth approximately $50,000. 99.11% of the stock is owned by institutional investors and hedge funds.

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.