Extra Space Storage Inc (NYSE:EXR) Stock Has Consensus Price Target of $149.47

Shares of Extra Space Storage Inc (NYSE:EXR) have earned a consensus recommendation of “Moderate Buy” from the sixteen analysts that are covering the stock, Marketbeat Ratings reports. Eight research analysts have rated the stock with a hold recommendation and eight have given a buy recommendation to the company. The average 12-month price target among analysts that have covered the stock in the last year is $149.40.

A number of analysts recently commented on the company. Evercore set a $146.00 price objective on Extra Space Storage in a research report on Monday, September 21st. Wells Fargo & Company decreased their price target on shares of Extra Space Storage from $158.00 to $157.00 and set an “overweight” rating on the stock in a research note on Tuesday, September 1st. Mizuho lowered their price target on shares of Extra Space Storage from $155.00 to $152.00 and set an “outperform” rating for the company in a report on Wednesday, September 2nd. Wall Street Zen raised shares of Extra Space Storage from a “sell” rating to a “hold” rating in a research report on Sunday, August 9th. Finally, Bank of America raised shares of Extra Space Storage from an “underperform” rating to a “neutral” rating and upped their price objective for the company from $147.00 to $156.00 in a research note on Tuesday, June 16th.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the business. Versant Capital Management Inc boosted its holdings in shares of Extra Space Storage by 43.4% during the third quarter. Versant Capital Management Inc now owns 1,245 shares of the real estate investment trust’s stock worth $164,000 after purchasing an additional 377 shares during the last quarter. QRG Capital Management Inc. increased its stake in Extra Space Storage by 17.2% in the second quarter. QRG Capital Management Inc. now owns 3,377 shares of the real estate investment trust’s stock valued at $491,000 after purchasing an additional 495 shares during the last quarter. Security National Bank of SO Dak acquired a new position in Extra Space Storage in the second quarter valued at $34,000. Van Hulzen Asset Management LLC lifted its position in Extra Space Storage by 2.8% during the second quarter. Van Hulzen Asset Management LLC now owns 3,630 shares of the real estate investment trust’s stock worth $527,000 after buying an additional 100 shares during the period. Finally, Engineers Gate Manager LP purchased a new position in Extra Space Storage during the second quarter worth about $647,000. Hedge funds and other institutional investors own 99.11% of the company’s stock.

Extra Space Storage Price Performance

EXR stock opened at $133.31 on Thursday. The stock’s 50 day moving average price is $142.14 and its 200 day moving average price is $142.22. The firm has a market cap of $28.17 billion, a P/E ratio of 29.43, a PEG ratio of 3.95 and a beta of 1.15. The company has a debt-to-equity ratio of 0.96, a quick ratio of 1.56 and a current ratio of 1.56. Extra Space Storage has a 1 year low of $125.71 and a 1 year high of $158.88.

Extra Space Storage (NYSE:EXR) last released its quarterly earnings results on Tuesday, July 28th. The real estate investment trust reported $1.25 earnings per share for the quarter, topping analysts’ consensus estimates of $1.16 by $0.09. The company had revenue of $874.15 million during the quarter, compared to analysts’ expectations of $874.99 million. Extra Space Storage had a return on equity of 6.70% and a net margin of 27.80%.The business’s revenue for the quarter was up 3.9% compared to the same quarter last year. During the same period in the previous year, the firm posted $2.05 earnings per share. Extra Space Storage has set its FY 2026 guidance at 8.250-8.400 EPS. On average, sell-side analysts expect that Extra Space Storage will post 8.34 earnings per share for the current fiscal year.

Extra Space Storage Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, September 30th. Shareholders of record on Tuesday, September 15th were issued a $1.62 dividend. The ex-dividend date was Tuesday, September 15th. This represents a $6.48 annualized dividend and a yield of 4.9%. Extra Space Storage’s payout ratio is 143.05%.

About Extra Space Storage

Extra Space Storage Inc is a real estate investment trust (REIT) that owns, operates, manages and develops self-storage facilities. Its properties provide personal and business customers with space for storing household goods, vehicles, business inventory and other belongings in a range of unit sizes. Many facilities offer features such as climate-controlled units, drive-up access, online rentals and electronic payments.

The company also provides third-party management services for self-storage properties owned by other investors and participates in joint ventures.