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

Key Points

• Wall Street Zen downgraded Extra Space Storage (NYSE:EXR) from a "hold" to a "sell," though the analyst consensus remains a Hold with a $143.67 consensus target and a mix of 6 Buys, 9 Holds and 1 Sell.
• EXR beat expectations with $2.08 EPS and $857.47M revenue for the quarter and set FY2026 guidance of 8.05–8.35 EPS (analysts expect 8.24); the stock trades near $142 with a ~$30.0B market cap and a P/E of about 30.9.
• CEO Joseph D. Margolis sold 7,500 shares in March (reducing his holding by ~10.1%), and institutional ownership is very high at roughly 99.11%.

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 note issued to investors on Saturday.

A number of other analysts have also recently weighed in on EXR. Royal Bank Of Canada increased their price objective on Extra Space Storage from $142.00 to $153.00 and gave the stock a "sector perform" rating in a research report on Monday, February 23rd. Mizuho increased their price objective on Extra Space Storage from $137.00 to $143.00 and gave the stock an "outperform" rating in a research report on Monday, January 12th. BNP Paribas Exane raised Extra Space Storage from a "neutral" rating to an "outperform" rating and set a $154.00 price objective for the company in a research report on Wednesday, March 18th. Wells Fargo & Company decreased their price objective on Extra Space Storage from $150.00 to $148.00 and set an "overweight" rating for the company in a research report on Thursday, April 16th. Finally, Weiss Ratings reaffirmed a "hold (c)" rating on shares of Extra Space Storage in a research report on Tuesday. Six investment analysts have rated the stock with a Buy rating, nine have issued a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of "Hold" and a consensus target price of $143.67.

Extra Space Storage Stock Down 0.4%

Extra Space Storage stock opened at $142.10 on Friday. Extra Space Storage has a twelve month low of $125.71 and a twelve month high of $155.19. The stock has a 50 day moving average of $140.92 and a two-hundred day moving average of $138.59. The company has a current ratio of 0.39, a quick ratio of 0.39 and a debt-to-equity ratio of 0.92. The stock has a market capitalization of $30.01 billion, a price-to-earnings ratio of 30.89, a PEG ratio of 2.86 and a beta of 1.26.

Extra Space Storage (NYSE:EXR - Get Free Report) last posted its quarterly earnings data on Thursday, February 19th. The real estate investment trust reported $2.08 earnings per share for the quarter, topping analysts' consensus estimates of $2.03 by $0.05. Extra Space Storage had a return on equity of 6.79% and a net margin of 28.84%.The company had revenue of $857.47 million during the quarter, compared to analysts' expectations of $732.92 million. During the same period last year, the firm earned $2.03 EPS. The firm's revenue for the quarter was up 4.3% on a year-over-year basis. Extra Space Storage has set its FY 2026 guidance at 8.050-8.350 EPS. As a group, research analysts expect that Extra Space Storage will post 8.24 earnings per share for the current year.

Insiders Place Their Bets

In related news, CEO Joseph D. Margolis sold 7,500 shares of the firm's stock in a transaction that occurred on Friday, March 13th. The stock was sold at an average price of $142.08, for a total value of $1,065,600.00. Following the completion of the transaction, the chief executive officer directly owned 66,495 shares of the company's stock, valued at $9,447,609.60. This trade represents a 10.14% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. 0.96% of the stock is owned by insiders.

Hedge Funds Weigh In On Extra Space Storage

Several hedge funds have recently bought and sold shares of the company. Vanguard Group Inc. increased its stake in Extra Space Storage by 0.5% in the 3rd quarter. Vanguard Group Inc. now owns 34,430,823 shares of the real estate investment trust's stock valued at $4,852,680,000 after purchasing an additional 161,171 shares in the last quarter. Cohen & Steers Inc. increased its stake in Extra Space Storage by 13.4% in the 4th quarter. Cohen & Steers Inc. now owns 15,979,424 shares of the real estate investment trust's stock valued at $2,080,971,000 after purchasing an additional 1,888,763 shares in the last quarter. State Street Corp increased its stake in Extra Space Storage by 1.7% in the 3rd quarter. State Street Corp now owns 13,910,878 shares of the real estate investment trust's stock valued at $1,960,599,000 after purchasing an additional 230,697 shares in the last quarter. Norges Bank purchased a new position in Extra Space Storage in the 4th quarter valued at approximately $1,219,606,000. Finally, Capital World Investors increased its stake in Extra Space Storage by 0.5% in the 3rd quarter. Capital World Investors now owns 7,161,360 shares of the real estate investment trust's stock valued at $1,009,371,000 after purchasing an additional 33,622 shares in the last quarter. 99.11% of the stock is owned by hedge funds and other institutional investors.

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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