Extra Space Storage (NYSE:EXR) Given Equal Weight Rating at Wells Fargo & Company

Wells Fargo & Company reiterated their equal weight rating on shares of Extra Space Storage (NYSE:EXR) in a report published on Monday, Marketbeat Ratings reports. They currently have a $175.00 price target on the real estate investment trust’s stock.

EXR has been the subject of a number of other reports. Truist Financial lifted their price target on shares of Extra Space Storage from $152.00 to $167.00 and gave the company a “hold” rating in a research report on Friday, August 16th. Royal Bank of Canada started coverage on Extra Space Storage in a research report on Tuesday, September 10th. They issued a “sector perform” rating and a $180.00 price target on the stock. KeyCorp raised their price objective on Extra Space Storage from $172.00 to $178.00 and gave the company an “overweight” rating in a research report on Monday, September 9th. Bank of America downgraded Extra Space Storage from a “neutral” rating to an “underperform” rating and dropped their target price for the stock from $172.00 to $155.00 in a report on Monday, August 5th. Finally, Evercore ISI reduced their price target on Extra Space Storage from $170.00 to $168.00 and set an “in-line” rating for the company in a report on Monday, October 14th. Two equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating and six have given a buy rating to the company’s stock. Based on data from MarketBeat, Extra Space Storage presently has a consensus rating of “Hold” and a consensus target price of $170.80.

Extra Space Storage Stock Performance

Shares of Extra Space Storage stock opened at $164.80 on Monday. Extra Space Storage has a 12 month low of $101.19 and a 12 month high of $184.87. The firm has a market capitalization of $34.89 billion, a P/E ratio of 36.70, a P/E/G ratio of 6.47 and a beta of 0.86. The company has a current ratio of 0.20, a quick ratio of 0.20 and a debt-to-equity ratio of 0.76. The business has a fifty day simple moving average of $174.49 and a two-hundred day simple moving average of $159.24.

Extra Space Storage Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, September 30th. Stockholders of record on Monday, September 16th were issued a dividend of $1.62 per share. The ex-dividend date was Monday, September 16th. This represents a $6.48 annualized dividend and a dividend yield of 3.93%. Extra Space Storage’s payout ratio is 144.32%.

Insider Buying and Selling

In other Extra Space Storage news, EVP Gwyn Goodson Mcneal sold 2,823 shares of the business’s stock in a transaction on Friday, August 23rd. The shares were sold at an average price of $177.01, for a total transaction of $499,699.23. Following the completion of the sale, the executive vice president now directly owns 32,855 shares in the company, valued at approximately $5,815,663.55. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other Extra Space Storage news, EVP William N. Springer sold 2,000 shares of the firm’s stock in a transaction dated Wednesday, August 28th. The stock was sold at an average price of $175.33, for a total value of $350,660.00. Following the transaction, the executive vice president now directly owns 11,919 shares of the company’s stock, valued at approximately $2,089,758.27. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, EVP Gwyn Goodson Mcneal sold 2,823 shares of the company’s stock in a transaction dated Friday, August 23rd. The shares were sold at an average price of $177.01, for a total transaction of $499,699.23. Following the sale, the executive vice president now directly owns 32,855 shares of the company’s stock, valued at $5,815,663.55. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 18,970 shares of company stock worth $3,367,307. 1.36% of the stock is owned by insiders.

Hedge Funds Weigh In On Extra Space Storage

Institutional investors and hedge funds have recently made changes to their positions in the business. Boston Partners purchased a new position in shares of Extra Space Storage during the 1st quarter worth $130,554,000. Janus Henderson Group PLC lifted its position in Extra Space Storage by 2,244.2% during the first quarter. Janus Henderson Group PLC now owns 597,729 shares of the real estate investment trust’s stock valued at $87,824,000 after purchasing an additional 572,231 shares in the last quarter. Canada Pension Plan Investment Board increased its position in Extra Space Storage by 43.7% in the first quarter. Canada Pension Plan Investment Board now owns 1,557,135 shares of the real estate investment trust’s stock worth $228,899,000 after buying an additional 473,559 shares in the last quarter. American Century Companies Inc. increased its position in Extra Space Storage by 543.5% in the second quarter. American Century Companies Inc. now owns 397,170 shares of the real estate investment trust’s stock worth $61,724,000 after buying an additional 335,447 shares in the last quarter. Finally, Swedbank AB bought a new position in shares of Extra Space Storage in the first quarter worth about $33,912,000. Hedge funds and other institutional investors own 99.11% of the company’s stock.

About Extra Space Storage

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.