Extra Space Storage Inc. (NYSE:EXR) Receives $151.83 Consensus Price Target from Brokerages

Shares of Extra Space Storage Inc. (NYSE:EXR) have been given an average recommendation of “Hold” by the twelve ratings firms that are presently covering the firm, MarketBeat Ratings reports. One research analyst has rated the stock with a sell rating, six have assigned a hold rating and five have given a buy rating to the company. The average 1-year price target among analysts that have issued ratings on the stock in the last year is $151.83.

Several equities research analysts recently issued reports on EXR shares. Barclays increased their price objective on Extra Space Storage from $157.00 to $158.00 and gave the stock an “overweight” rating in a research note on Monday, May 20th. Wells Fargo & Company increased their price objective on Extra Space Storage from $150.00 to $160.00 and gave the stock an “overweight” rating in a research note on Friday, April 5th. Citigroup dropped their target price on Extra Space Storage from $168.00 to $160.00 and set a “neutral” rating on the stock in a research report on Friday, June 7th. Raymond James reaffirmed an “outperform” rating and issued a $160.00 target price on shares of Extra Space Storage in a research report on Thursday, March 28th. Finally, Evercore ISI dropped their target price on Extra Space Storage from $145.00 to $139.00 in a research report on Wednesday, May 1st.

Insider Activity at Extra Space Storage

In related news, Director Joseph J. Bonner sold 677 shares of the stock in a transaction that occurred on Friday, June 7th. The stock was sold at an average price of $148.22, for a total transaction of $100,344.94. Following the completion of the sale, the director now owns 5,229 shares in the company, valued at approximately $775,042.38. The sale was disclosed in a filing with the SEC, which is available through the SEC website. 1.36% of the stock is owned by corporate insiders.

Institutional Trading of Extra Space Storage

A number of hedge funds have recently modified their holdings of the company. Whittier Trust Co. lifted its position in shares of Extra Space Storage by 4.5% during the 4th quarter. Whittier Trust Co. now owns 1,656 shares of the real estate investment trust’s stock worth $266,000 after buying an additional 72 shares during the period. QRG Capital Management Inc. lifted its position in shares of Extra Space Storage by 5.2% during the 1st quarter. QRG Capital Management Inc. now owns 1,588 shares of the real estate investment trust’s stock worth $233,000 after buying an additional 78 shares during the period. Bank Julius Baer & Co. Ltd Zurich increased its holdings in Extra Space Storage by 19.1% during the 4th quarter. Bank Julius Baer & Co. Ltd Zurich now owns 706 shares of the real estate investment trust’s stock valued at $113,000 after purchasing an additional 113 shares in the last quarter. Parkside Financial Bank & Trust increased its holdings in Extra Space Storage by 30.1% during the 4th quarter. Parkside Financial Bank & Trust now owns 515 shares of the real estate investment trust’s stock valued at $83,000 after purchasing an additional 119 shares in the last quarter. Finally, Private Advisor Group LLC increased its holdings in Extra Space Storage by 0.6% during the 4th quarter. Private Advisor Group LLC now owns 21,563 shares of the real estate investment trust’s stock valued at $3,457,000 after purchasing an additional 119 shares in the last quarter. Institutional investors own 99.11% of the company’s stock.

Extra Space Storage Stock Down 0.2 %

Shares of Extra Space Storage stock opened at $155.41 on Friday. The stock has a 50-day moving average price of $147.08 and a 200 day moving average price of $146.90. The company has a market cap of $32.90 billion, a P/E ratio of 34.61, a P/E/G ratio of 3.73 and a beta of 0.81. The company has a current ratio of 0.15, a quick ratio of 0.15 and a debt-to-equity ratio of 0.73. Extra Space Storage has a 1 year low of $101.19 and a 1 year high of $164.99.

Extra Space Storage Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, June 28th. Stockholders of record on Friday, June 14th were issued a dividend of $1.62 per share. This represents a $6.48 dividend on an annualized basis and a dividend yield of 4.17%. The ex-dividend date of this dividend was Friday, June 14th. Extra Space Storage’s dividend payout ratio is 144.32%.

Extra Space Storage Company Profile

Extra Space Storage Inc, headquartered in Salt Lake City, Utah, is a self-administered and self-managed REIT and a member of the S&P 500. As of December 31, 2023, the Company owned and/or operated 3,714 self-storage stores in 42 states and Washington, DC The Company's stores comprise approximately 2.6 million units and approximately 283.0 million square feet of rentable space operating under the Extra Space, Life Storage and Storage Express brands.