Extra Space Storage (NYSE:EXR) Stock Gets Price Target Bump from Truist Financial

Extra Space Storage (NYSE:EXR) had its price objective hoisted by equities research analysts at Truist Financial from $147.00 to $172.00 in a research report issued on Thursday, Benzinga reports. The brokerage currently has a “buy” rating on the real estate investment trust’s stock. Truist Financial‘s price objective would indicate a potential upside of 8.48% from the stock’s previous close.

A number of other equities research analysts have also weighed in on the stock. Jefferies Financial Group reduced their price objective on shares of Extra Space Storage from $165.00 to $151.00 in a report on Monday, October 12th. UBS Group boosted their target price on shares of Extra Space Storage from $152.00 to $174.00 and gave the stock a “buy” rating in a research note on Wednesday, November 4th. Raymond James Financial initiated coverage on Extra Space Storage in a report on Thursday, July 16th. They issued an “outperform” rating and a $44.00 target price on the stock. The Goldman Sachs Group restated a “neutral” rating and issued a $160.00 price target (up from $152.00) on shares of Extra Space Storage in a research note on Thursday, July 30th. Finally, Evercore raised their price target on Extra Space Storage from $142.00 to $146.00 in a research note on Wednesday, October 28th. Eight research analysts have rated the stock with a Buy rating and eight have assigned a Hold rating to the company. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $158.31.

Extra Space Storage Stock Down 0.4%

NYSE:EXR traded down $0.66 during mid-day trading on Thursday, hitting $158.55. The stock had a trading volume of 301,889 shares, compared to its average volume of 1,276,725. The stock has a 50-day simple moving average of $140.98 and a two-hundred day simple moving average of $142.92. The company has a market capitalization of $33.09 billion, a PE ratio of 32.23, a PEG ratio of 4.39 and a beta of 1.07. Extra Space Storage has a twelve month low of $125.71 and a twelve month high of $163.18. The company has a current ratio of 0.25, a quick ratio of 0.25 and a debt-to-equity ratio of 0.97.

Extra Space Storage (NYSE:EXR) last issued its quarterly earnings results on Tuesday, October 27th. The real estate investment trust reported $1.17 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.10 by ($0.93). Extra Space Storage had a return on equity of 7.36% and a net margin of 29.90%. The firm had revenue of $889.79 million during the quarter, compared to analysts’ expectations of $886.61 million. During the same quarter in the prior year, the firm earned $2.08 EPS. The firm’s revenue was up 3.6% compared to the same quarter last year. On average, equities research analysts anticipate that Extra Space Storage will post 8.46 EPS for the current year.

Institutional Trading of Extra Space Storage

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in EXR. Northwestern Mutual Wealth Management Co. lifted its position in shares of Extra Space Storage by 4.2% during the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 1,960 shares of the real estate investment trust’s stock worth $285,000 after buying an additional 79 shares during the last quarter. Raiffeisen Bank International AG boosted its holdings in shares of Extra Space Storage by 82.4% in the 2nd quarter. Raiffeisen Bank International AG now owns 186 shares of the real estate investment trust’s stock valued at $28,000 after buying an additional 84 shares in the last quarter. Angeles Wealth Management LLC grew its position in shares of Extra Space Storage by 3.2% in the 1st quarter. Angeles Wealth Management LLC now owns 2,794 shares of the real estate investment trust’s stock valued at $366,000 after buying an additional 87 shares during the last quarter. Harbour Investments Inc. grew its position in shares of Extra Space Storage by 1.1% in the 3rd quarter. Harbour Investments Inc. now owns 8,709 shares of the real estate investment trust’s stock valued at $1,145,000 after buying an additional 91 shares during the last quarter. Finally, IRON Financial LLC grew its position in shares of Extra Space Storage by 5.7% in the 3rd quarter. IRON Financial LLC now owns 1,731 shares of the real estate investment trust’s stock valued at $228,000 after buying an additional 94 shares during the last quarter. Institutional investors and hedge funds own 99.11% of the company’s stock.

Extra Space Storage Company Profile

Extra Space Storage Inc. is a real estate investment trust (REIT) focused on self-storage. The company owns and operates facilities that rent storage units to individuals and businesses for personal and commercial use. In addition to operating its own properties, Extra Space manages self-storage facilities for third-party owners and offers related services, including tenant insurance. Its facilities serve customers across the United States. Founded in 1977 and headquartered in Salt Lake City, Utah, Extra Space expanded its national platform through acquisitions, including its 2023 merger with Life Storage.