Extra Space Storage (NYSE:EXR) Upgraded at Wall Street Zen

Key Points

• Wall Street Zen upgraded Extra Space Storage from a “sell” to a “hold,” while the broader analyst view remains cautious with an overall “Hold” rating and a consensus price target of $151.86.
• Recent quarterly results were mixed: EXR reported EPS of $1.14, well below the $2.01 consensus, but revenue of $856.03 million slightly topped expectations and rose 4.4% year over year.
• Shares were trading at $144.50 with a market cap of $30.53 billion, and the company guided FY2026 EPS to 8.05–8.35 while analysts currently expect 8.23 EPS for the year.

Extra Space Storage (NYSE:EXR - Get Free Report) was upgraded by stock analysts at Wall Street Zen from a "sell" rating to a "hold" rating in a note issued to investors on Saturday.

A number of other equities research analysts have also commented on EXR. BNP Paribas Exane upgraded shares of Extra Space Storage from a "neutral" rating to an "outperform" rating and set a $154.00 price target for the company in a report on Wednesday, March 18th. Weiss Ratings reiterated a "hold (c)" rating on shares of Extra Space Storage in a report on Tuesday, April 21st. Truist Financial lowered their price target on shares of Extra Space Storage from $158.00 to $150.00 and set a "hold" rating for the company in a report on Wednesday, May 6th. Barclays upped their price target on shares of Extra Space Storage from $164.00 to $170.00 and gave the company an "overweight" rating in a report on Thursday, March 5th. Finally, Wells Fargo & Company lowered their price target on shares of Extra Space Storage from $150.00 to $148.00 and set an "overweight" rating for the company in a report on Thursday, April 16th. Five equities research analysts have rated the stock with a Buy rating, nine have given a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, Extra Space Storage presently has an average rating of "Hold" and a consensus price target of $151.86.

Extra Space Storage Price Performance

Shares of Extra Space Storage stock opened at $144.50 on Friday. Extra Space Storage has a 52-week low of $125.71 and a 52-week high of $155.19. The stock has a market capitalization of $30.53 billion, a price-to-earnings ratio of 32.40, a price-to-earnings-growth ratio of 4.74 and a beta of 1.22. The company has a fifty day moving average of $139.25 and a 200-day moving average of $138.43. 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 (NYSE:EXR - Get Free Report) last announced its quarterly earnings data on Tuesday, April 28th. The real estate investment trust reported $1.14 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $2.01 by ($0.87). Extra Space Storage had a net margin of 27.66% and a return on equity of 6.65%. The business had revenue of $856.03 million during the quarter, compared to analysts' expectations of $851.35 million. During the same period last year, the company posted $2.00 EPS. Extra Space Storage's revenue for the quarter was up 4.4% on a year-over-year basis. Extra Space Storage has set its FY 2026 guidance at 8.050-8.350 EPS. Equities research analysts expect that Extra Space Storage will post 8.23 EPS for the current year.

Insider Activity

In related news, CEO Joseph D. Margolis sold 7,500 shares of the stock in a transaction dated Friday, March 13th. The shares were 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 in the company, valued at $9,447,609.60. This trade represents a 10.14% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.96% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of EXR. Cromwell Holdings LLC increased its stake in Extra Space Storage by 14.6% during the fourth quarter. Cromwell Holdings LLC now owns 574 shares of the real estate investment trust's stock worth $75,000 after acquiring an additional 73 shares during the last quarter. Apollon Wealth Management LLC increased its stake in Extra Space Storage by 1.9% during the first quarter. Apollon Wealth Management LLC now owns 3,986 shares of the real estate investment trust's stock worth $523,000 after acquiring an additional 75 shares during the last quarter. Brown Advisory Inc. increased its stake in Extra Space Storage by 1.8% during the second quarter. Brown Advisory Inc. now owns 4,431 shares of the real estate investment trust's stock worth $653,000 after acquiring an additional 80 shares during the last quarter. Gilman Hill Asset Management LLC increased its stake in Extra Space Storage by 5.0% during the fourth quarter. Gilman Hill Asset Management LLC now owns 1,690 shares of the real estate investment trust's stock worth $220,000 after acquiring an additional 80 shares during the last quarter. Finally, Manchester Capital Management LLC increased its stake in Extra Space Storage by 18.9% during the fourth quarter. Manchester Capital Management LLC now owns 540 shares of the real estate investment trust's stock worth $70,000 after acquiring an additional 86 shares during the last quarter. 99.11% of the stock is currently owned by 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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