Extra Space Storage (NYSE:EXR) Upgraded at Raymond James Financial

Key Points

• Raymond James Financial upgraded Extra Space Storage (NYSE:EXR) to a “moderate buy” rating, adding to a mixed but generally constructive analyst picture for the stock.
• Other firms have recently adjusted their views and price targets, with UBS, Barclays, Mizuho, and Truist all raising targets while Wall Street Zen cut its rating to sell. The overall consensus remains Hold with an average target price of $146.27.
• EXR shares were trading around $150.16 when the report was published, near the stock’s 52-week high of $155.19. The company recently reported earnings below expectations, though revenue came in slightly ahead of estimates and full-year guidance was set at 8.05–8.35 EPS.

Extra Space Storage (NYSE:EXR - Get Free Report) was upgraded by equities research analysts at Raymond James Financial to a "moderate buy" rating in a report issued on Wednesday,Zacks.com reports.

EXR has been the topic of several other reports. Mizuho upped their price target on Extra Space Storage from $150.00 to $155.00 and gave the company an "outperform" rating in a research report on Wednesday, May 27th. Truist Financial lifted their price objective on shares of Extra Space Storage from $140.00 to $148.00 and gave the stock a "hold" rating in a report on Wednesday, June 17th. Barclays raised their price target on shares of Extra Space Storage from $170.00 to $172.00 and gave the stock an "overweight" rating in a research report on Friday, July 10th. Wall Street Zen lowered shares of Extra Space Storage from a "hold" rating to a "sell" rating in a report on Saturday, June 13th. Finally, UBS Group increased their price objective on shares of Extra Space Storage from $158.00 to $163.00 and gave the stock a "buy" rating in a research note on Friday, July 10th. Six equities research analysts have rated the stock with a Buy rating and ten have assigned a Hold rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of "Hold" and an average target price of $146.27.

Extra Space Storage Stock Performance

Shares of Extra Space Storage stock opened at $150.16 on Wednesday. The company has a debt-to-equity ratio of 0.93, a quick ratio of 0.37 and a current ratio of 0.37. Extra Space Storage has a 1 year low of $125.71 and a 1 year high of $155.19. The firm's 50-day simple moving average is $145.21 and its 200-day simple moving average is $142.09. The firm has a market cap of $31.72 billion, a PE ratio of 33.67, a price-to-earnings-growth ratio of 4.48 and a beta of 1.19.

Extra Space Storage (NYSE:EXR - Get Free Report) last posted its quarterly earnings results on Tuesday, April 28th. The real estate investment trust reported $1.14 EPS for the quarter, missing analysts' consensus estimates of $2.01 by ($0.87). The firm had revenue of $856.03 million during the quarter, compared to analyst estimates of $851.35 million. Extra Space Storage had a return on equity of 6.65% and a net margin of 27.66%.The firm's revenue for the quarter was up 4.4% on a year-over-year basis. During the same quarter last year, the business posted $2.00 earnings per share. Extra Space Storage has set its FY 2026 guidance at 8.050-8.350 EPS. Equities analysts forecast that Extra Space Storage will post 8.26 earnings per share for the current fiscal year.

Insider Activity at Extra Space Storage

In related news, EVP Gwyn Goodson Mcneal sold 3,300 shares of the stock in a transaction dated Thursday, June 11th. The shares were sold at an average price of $150.00, for a total value 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 position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 0.96% of the company's stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of the company. Caitong International Asset Management Co. Ltd acquired a new stake in shares of Extra Space Storage in the third quarter valued at approximately $28,000. Reflection Asset Management acquired a new position in shares of Extra Space Storage during the fourth quarter worth approximately $26,000. Cassaday & Co Wealth Management LLC acquired a new position in shares of Extra Space Storage during the first quarter worth approximately $30,000. CoreCap Advisors LLC grew its holdings 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 worth $37,000 after buying an additional 234 shares in the last quarter. Finally, Rosenberg Matthew Hamilton grew its holdings in Extra Space Storage by 442.9% in the 4th quarter. Rosenberg Matthew Hamilton now owns 266 shares of the real estate investment trust's stock worth $35,000 after buying an additional 217 shares in the last quarter. 99.11% of the stock is owned by institutional investors and hedge funds.

About Extra Space Storage

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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