Wells Fargo & Company Raises Extra Space Storage (NYSE:EXR) Price Target to $154.00

Key Points

• Wells Fargo raised its price target on Extra Space Storage (NYSE:EXR) from $148 to $154 and kept an overweight rating, implying about 9.1% upside from the current share price.
• Analyst sentiment remains mixed: some firms have upgraded the stock, while Bank of America downgraded it to underperform. Overall, MarketBeat shows a Hold consensus with an average price target of $152.29.
• EXR stock was down 2.2% to $141.16 on Monday after the note, and the company recently reported Q1 earnings of $1.14 per share, missing estimates even as revenue slightly beat expectations.

Extra Space Storage (NYSE:EXR - Get Free Report) had its target price hoisted by investment analysts at Wells Fargo & Company from $148.00 to $154.00 in a note issued to investors on Monday,Benzinga reports. The firm presently has an "overweight" rating on the real estate investment trust's stock. Wells Fargo & Company's price target points to a potential upside of 9.10% from the company's current price.

Several other research firms have also weighed in on EXR. Bank of America lowered shares of Extra Space Storage from a "neutral" rating to an "underperform" rating and set a $143.00 price objective on the stock. in a research note on Thursday, February 5th. BNP Paribas Exane upgraded shares of Extra Space Storage from a "neutral" rating to an "outperform" rating and set a $154.00 price objective on the stock in a research note on Wednesday, March 18th. Wall Street Zen upgraded shares of Extra Space Storage from a "sell" rating to a "hold" rating in a research note on Saturday. Barclays boosted their price objective on shares of Extra Space Storage from $164.00 to $170.00 and gave the stock an "overweight" rating in a research note on Thursday, March 5th. Finally, Mizuho boosted their price objective on shares of Extra Space Storage from $150.00 to $155.00 and gave the stock an "outperform" rating in a research note on Wednesday, May 27th. Five analysts have rated the stock with a Buy rating, nine have issued a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, Extra Space Storage currently has an average rating of "Hold" and a consensus price target of $152.29.

Extra Space Storage Stock Down 2.2%

EXR stock traded down $3.15 during midday trading on Monday, hitting $141.16. The company's stock had a trading volume of 150,931 shares, compared to its average volume of 1,265,513. The stock has a market capitalization of $29.82 billion, a P/E ratio of 31.63, a PEG ratio of 4.69 and a beta of 1.20. The company's fifty day moving average price is $139.25 and its 200 day moving average price is $138.48. Extra Space Storage has a twelve month low of $125.71 and a twelve month high of $155.19. The company has a debt-to-equity ratio of 0.93, a current ratio of 0.37 and a quick ratio of 0.37.

Extra Space Storage (NYSE:EXR - Get Free Report) last released its quarterly earnings data on Tuesday, April 28th. The real estate investment trust reported $1.14 earnings per share for the quarter, missing the consensus estimate of $2.01 by ($0.87). The firm had revenue of $856.03 million for 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 in the prior year, the firm earned $2.00 earnings per share. Extra Space Storage has set its FY 2026 guidance at 8.050-8.350 EPS. As a group, equities research analysts predict that Extra Space Storage will post 8.23 EPS for the current year.

Insider Buying and Selling

In related news, CEO Joseph D. Margolis sold 7,500 shares of the company's 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 transaction, the chief executive officer owned 66,495 shares in the company, valued at approximately $9,447,609.60. This represents a 10.14% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 0.96% of the company's stock.

Institutional Trading of Extra Space Storage

A number of institutional investors have recently bought and sold shares of EXR. Reflection Asset Management bought a new stake in Extra Space Storage in the 4th quarter valued at about $26,000. Avalon Trust Co bought a new stake in Extra Space Storage in the 3rd quarter valued at about $28,000. Caitong International Asset Management Co. Ltd bought a new stake in Extra Space Storage in the 3rd quarter valued at about $28,000. Cassaday & Co Wealth Management LLC bought a new stake in Extra Space Storage in the 1st quarter valued at about $30,000. Finally, Rosenberg Matthew Hamilton boosted 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 valued at $35,000 after purchasing an additional 217 shares during the period. Institutional investors 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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