Extra Space Storage (NYSE:EXR) Price Target Raised to $158.00

Key Points

• Scotiabank raised Extra Space Storage’s price target to $158 from $157 while maintaining a “sector perform” rating, implying 6.58% upside from the prior close.
• Analyst sentiment remains mixed, with a consensus “Hold” rating and average price target of $147.87; six analysts rate the stock a Buy and ten rate it a Hold.
• Extra Space Storage reported quarterly EPS of $1.25, beating estimates of $1.16, while revenue rose 3.9% year over year to $874.15 million. Shares traded around $148.24, and institutional investors own 99.11% of the company.

Extra Space Storage (NYSE:EXR - Get Free Report) had its price target lifted by stock analysts at Scotiabank from $157.00 to $158.00 in a research report issued on Tuesday,Benzinga reports. The brokerage presently has a "sector perform" rating on the real estate investment trust's stock. Scotiabank's price target would suggest a potential upside of 6.58% from the stock's previous close.

EXR has been the subject of several other reports. Royal Bank Of Canada boosted their target price on Extra Space Storage from $153.00 to $157.00 and gave the stock a "sector perform" rating in a research report on Thursday, July 30th. Mizuho increased their price target on shares of Extra Space Storage from $150.00 to $155.00 and gave the company an "outperform" rating in a research report on Wednesday, May 27th. UBS Group boosted their price objective on shares of Extra Space Storage from $158.00 to $163.00 and gave the company a "buy" rating in a report on Friday, July 10th. Truist Financial boosted their price objective on shares of Extra Space Storage from $140.00 to $148.00 and gave the company a "hold" rating in a report on Wednesday, June 17th. Finally, Weiss Ratings raised shares of Extra Space Storage from a "hold (c)" rating to a "hold (c+)" rating in a research note on Friday, August 7th. Six research analysts have rated the stock with a Buy rating and ten have assigned a Hold rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of "Hold" and a consensus target price of $147.87.

Extra Space Storage Trading Up 0.9%

Shares of NYSE:EXR traded up $1.35 during midday trading on Tuesday, hitting $148.24. The company had a trading volume of 59,762 shares, compared to its average volume of 1,238,530. Extra Space Storage has a 12 month low of $125.71 and a 12 month high of $158.88. The company has a current ratio of 1.56, a quick ratio of 1.56 and a debt-to-equity ratio of 0.96. The stock has a market cap of $31.32 billion, a price-to-earnings ratio of 32.75, a PEG ratio of 4.26 and a beta of 1.18. The firm has a fifty day simple moving average of $147.49 and a 200 day simple moving average of $143.53.

Extra Space Storage (NYSE:EXR - Get Free Report) last announced its quarterly earnings data on Tuesday, July 28th. The real estate investment trust reported $1.25 EPS for the quarter, topping analysts' consensus estimates of $1.16 by $0.09. The business had revenue of $874.15 million during the quarter, compared to analysts' expectations of $874.99 million. Extra Space Storage had a return on equity of 6.70% and a net margin of 27.80%.The firm's quarterly revenue was up 3.9% compared to the same quarter last year. During the same period in the previous year, the firm earned $2.05 earnings per share. Extra Space Storage has set its FY 2026 guidance at 8.250-8.400 EPS. On average, analysts predict that Extra Space Storage will post 8.31 EPS for the current year.

Insider Activity

In other 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 transaction of $495,000.00. Following the sale, the executive vice president 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 Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the stock. Reflection Asset Management acquired a new stake in Extra Space Storage in the 4th quarter valued at $26,000. Caitong International Asset Management Co. Ltd acquired a new position in shares of Extra Space Storage during the 3rd quarter worth approximately $28,000. Cassaday & Co Wealth Management LLC bought a new stake in Extra Space Storage in the 1st quarter valued at $30,000. CoreCap Advisors LLC raised its stake in Extra Space Storage by 975.0% in the 2nd quarter. CoreCap Advisors LLC now owns 258 shares of the real estate investment trust's stock valued at $37,000 after acquiring an additional 234 shares during the period. Finally, DV Equities LLC acquired a new stake in Extra Space Storage during the 4th quarter valued at $39,000. 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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