Extra Space Storage (NYSE:EXR) Stock Price Expected to Rise, Scotiabank Analyst Says

Extra Space Storage (NYSE:EXR) had its price objective lifted by Scotiabank from $157.00 to $158.00 in a note issued to investors on Tuesday,Benzinga reports. The brokerage presently has a “sector perform” rating on the real estate investment trust’s stock. Scotiabank’s price target suggests a potential upside of 6.58% from the company’s current price.

A number of other research analysts have also issued reports on EXR. Mizuho increased their target price on shares of Extra Space Storage from $150.00 to $155.00 and gave the stock an “outperform” rating in a research report on Wednesday, May 27th. Bank of America upgraded Extra Space Storage from an “underperform” rating to a “neutral” rating and boosted their price target for the company from $147.00 to $156.00 in a research note on Tuesday, June 16th. Wall Street Zen raised Extra Space Storage from a “sell” rating to a “hold” rating in a research report on Sunday, August 9th. Truist Financial raised their price objective on Extra Space Storage from $140.00 to $148.00 and gave the stock a “hold” rating in a research note on Wednesday, June 17th. Finally, Barclays lifted their price objective on Extra Space Storage from $170.00 to $172.00 and gave the company an “overweight” rating in a report on Friday, July 10th. Six analysts have rated the stock with a Buy rating and ten have issued a Hold rating to the company’s stock. According to data from MarketBeat, Extra Space Storage has a consensus rating of “Hold” and a consensus target price of $147.87.

Extra Space Storage Stock Performance

NYSE:EXR traded up $1.35 during mid-day trading on Tuesday, hitting $148.24. 59,762 shares of the stock were exchanged, compared to its average volume of 1,238,530. The firm’s 50-day simple moving average is $147.49 and its 200 day simple moving average is $143.53. The stock has a market capitalization of $31.32 billion, a price-to-earnings ratio of 32.75, a price-to-earnings-growth ratio of 4.26 and a beta of 1.18. Extra Space Storage has a fifty-two week low of $125.71 and a fifty-two week high of $158.88. 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 (NYSE:EXR) last posted its quarterly earnings data on Tuesday, July 28th. The real estate investment trust reported $1.25 earnings per share for the quarter, topping the consensus estimate of $1.16 by $0.09. The firm had revenue of $874.15 million for 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 company’s quarterly revenue was up 3.9% compared to the same quarter last year. During the same quarter last year, the business earned $2.05 EPS. Extra Space Storage has set its FY 2026 guidance at 8.250-8.400 EPS. As a group, equities analysts anticipate that Extra Space Storage will post 8.31 EPS for the current fiscal year.

Insider Activity

In other news, EVP Gwyn Goodson Mcneal sold 3,300 shares of Extra Space Storage stock in a transaction on Thursday, June 11th. The stock was sold at an average price of $150.00, for a total value of $495,000.00. Following the transaction, the executive vice president owned 37,374 shares in the company, valued at approximately $5,606,100. This trade represents a 8.11% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders own 0.96% of the company’s stock.

Institutional Trading of Extra Space Storage

Large investors have recently bought and sold shares of the business. BlackRock Inc. bought a new position in Extra Space Storage in the second quarter valued at about $3,334,263,000. Norges Bank acquired a new position in Extra Space Storage during the fourth quarter worth about $1,219,606,000. Capital International Investors lifted its holdings in shares of Extra Space Storage by 73.9% in the fourth quarter. Capital International Investors now owns 6,256,687 shares of the real estate investment trust’s stock worth $814,746,000 after acquiring an additional 2,658,947 shares during the last quarter. Legal & General Group Plc bought a new position in shares of Extra Space Storage in the second quarter worth about $299,746,000. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its holdings in shares of Extra Space Storage by 900.0% in the third quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 2,187,795 shares of the real estate investment trust’s stock worth $308,348,000 after acquiring an additional 1,969,013 shares during 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.