Extra Space Storage (NYSE:EXR) Raised to Outperform at BNP Paribas Exane

Extra Space Storage (NYSE:EXR) was upgraded by BNP Paribas Exane from a “neutral” rating to an “outperform” rating in a research note issued to investors on Wednesday, Marketbeat.com reports. The firm currently has a $154.00 target price on the real estate investment trust’s stock. BNP Paribas Exane’s target price would indicate a potential upside of 11.28% from the stock’s previous close.

A number of other analysts have also recently weighed in on the stock. Weiss Ratings restated a “hold (c)” rating on shares of Extra Space Storage in a report on Thursday, January 22nd. Scotiabank upped their price target on Extra Space Storage from $145.00 to $156.00 and gave the company a “sector perform” rating in a report on Monday, March 2nd. Wells Fargo & Company cut their price objective on Extra Space Storage from $160.00 to $150.00 and set an “overweight” rating for the company in a research report on Thursday, February 5th. Royal Bank Of Canada raised their price objective on Extra Space Storage from $142.00 to $153.00 and gave the stock a “sector perform” rating in a research note on Monday, February 23rd. Finally, Barclays lifted their target price on Extra Space Storage from $164.00 to $170.00 and gave the stock an “overweight” rating in a report on Thursday, March 5th. Six analysts have rated the stock with a Buy rating, nine have assigned a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, Extra Space Storage has a consensus rating of “Hold” and an average target price of $145.00.

Extra Space Storage Price Performance

Shares of Extra Space Storage stock opened at $138.39 on Wednesday. Extra Space Storage has a 52 week low of $121.03 and a 52 week high of $155.19. The company has a current ratio of 0.39, a quick ratio of 0.39 and a debt-to-equity ratio of 0.92. The stock has a market cap of $29.22 billion, a PE ratio of 30.09, a price-to-earnings-growth ratio of 2.81 and a beta of 1.24. The company’s 50-day moving average price is $143.65 and its two-hundred day moving average price is $139.73.

Extra Space Storage (NYSE:EXR) last posted its quarterly earnings data on Thursday, February 19th. The real estate investment trust reported $2.08 earnings per share for the quarter, beating the consensus estimate of $2.03 by $0.05. The company had revenue of $857.47 million during the quarter, compared to analyst estimates of $732.92 million. Extra Space Storage had a net margin of 28.84% and a return on equity of 6.79%. The business’s revenue for the quarter was up 4.3% on a year-over-year basis. During the same quarter last year, the firm posted $2.03 EPS. Extra Space Storage has set its FY 2026 guidance at 8.050-8.350 EPS. As a group, sell-side analysts anticipate that Extra Space Storage will post 8.1 EPS for the current fiscal year.

Insider Activity at Extra Space Storage

In related news, CEO Joseph D. Margolis sold 7,500 shares of the company’s stock in a transaction that occurred on 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 completion of the sale, 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 legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 1.36% of the company’s stock.

Institutional Trading of Extra Space Storage

Several large investors have recently added to or reduced their stakes in the company. Cromwell Holdings LLC boosted its position in shares of Extra Space Storage by 14.6% in the fourth quarter. Cromwell Holdings LLC now owns 574 shares of the real estate investment trust’s stock worth $75,000 after buying an additional 73 shares during the period. Versant Capital Management Inc grew its holdings in shares of Extra Space Storage by 60.2% during the third quarter. Versant Capital Management Inc now owns 213 shares of the real estate investment trust’s stock valued at $30,000 after buying an additional 80 shares in the last quarter. Gilman Hill Asset Management LLC raised its position in Extra Space Storage by 5.0% during the fourth quarter. Gilman Hill Asset Management LLC now owns 1,690 shares of the real estate investment trust’s stock valued at $220,000 after buying an additional 80 shares during the period. Brown Advisory Inc. raised its position in Extra Space Storage by 1.8% during the second quarter. Brown Advisory Inc. now owns 4,431 shares of the real estate investment trust’s stock valued at $653,000 after buying an additional 80 shares during the period. Finally, Manchester Capital Management LLC lifted its stake in Extra Space Storage by 18.9% in the 4th quarter. Manchester Capital Management LLC now owns 540 shares of the real estate investment trust’s stock worth $70,000 after acquiring an additional 86 shares in the last quarter. 99.11% of the stock is owned by institutional investors and hedge funds.

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.