Analysts Set Extra Space Storage Inc (NYSE:EXR) PT at $146.53

Extra Space Storage Inc (NYSE:EXR) has earned a consensus recommendation of “Hold” from the sixteen research firms that are covering the stock, MarketBeat Ratings reports. Ten analysts have rated the stock with a hold rating and six have issued a buy rating on the company. The average 12 month price objective among analysts that have updated their coverage on the stock in the last year is $146.5333.

A number of equities research analysts have recently weighed in on EXR shares. Mizuho boosted their price objective on shares of Extra Space Storage from $137.00 to $143.00 and gave the stock an “outperform” rating in a report on Monday, January 12th. UBS Group lowered their price target on shares of Extra Space Storage from $156.00 to $148.00 and set a “buy” rating for the company in a research note on Thursday, January 8th. Truist Financial raised their price objective on Extra Space Storage from $142.00 to $146.00 and gave the company a “hold” rating in a research note on Tuesday, January 20th. Weiss Ratings reissued a “hold (c)” rating on shares of Extra Space Storage in a research note on Thursday, January 22nd. Finally, Wall Street Zen cut Extra Space Storage from a “hold” rating to a “sell” rating in a report on Saturday, November 1st.

Institutional Investors Weigh In On Extra Space Storage

Large investors have recently added to or reduced their stakes in the company. Avalon Trust Co bought a new position in shares of Extra Space Storage during the third quarter valued at about $28,000. Caitong International Asset Management Co. Ltd purchased a new position in Extra Space Storage during the 3rd quarter valued at about $28,000. Chung Wu Investment Group LLC bought a new position in Extra Space Storage during the 2nd quarter valued at approximately $29,000. Versant Capital Management Inc lifted its holdings in Extra Space Storage by 60.2% in the 3rd quarter. Versant Capital Management Inc now owns 213 shares of the real estate investment trust’s stock worth $30,000 after buying an additional 80 shares during the period. Finally, Davis Capital Management purchased a new stake in Extra Space Storage in the 3rd quarter worth approximately $35,000. Institutional investors own 99.11% of the company’s stock.

Extra Space Storage Price Performance

Shares of Extra Space Storage stock opened at $137.05 on Friday. The firm has a market capitalization of $29.09 billion, a PE ratio of 30.59, a price-to-earnings-growth ratio of 2.69 and a beta of 1.27. The company has a current ratio of 0.24, a quick ratio of 0.24 and a debt-to-equity ratio of 0.89. Extra Space Storage has a 12 month low of $121.03 and a 12 month high of $162.77. The business’s 50-day moving average price is $134.70 and its 200-day moving average price is $139.37.

Extra Space Storage (NYSE:EXR) last issued its earnings results on Wednesday, October 29th. The real estate investment trust reported $2.08 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.06 by $0.02. Extra Space Storage had a return on equity of 6.56% and a net margin of 28.40%.The business had revenue of $858.46 million during the quarter, compared to analyst estimates of $736.26 million. During the same quarter in the prior year, the firm earned $2.07 earnings per share. Extra Space Storage’s revenue for the quarter was up 4.1% on a year-over-year basis. Sell-side analysts forecast that Extra Space Storage will post 8.1 EPS for the current fiscal year.

Extra Space Storage Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Wednesday, December 31st. Stockholders of record on Monday, December 15th were issued a $1.62 dividend. The ex-dividend date was Monday, December 15th. This represents a $6.48 annualized dividend and a dividend yield of 4.7%. Extra Space Storage’s dividend payout ratio (DPR) is currently 144.64%.

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.