Extra Space Storage (NYSE:EXR) PT Lowered to $168.00 at Evercore ISI

Extra Space Storage (NYSE:EXR) had its price objective trimmed by Evercore ISI from $170.00 to $168.00 in a research note published on Monday morning, Benzinga reports. The firm currently has an in-line rating on the real estate investment trust’s stock.

A number of other research firms also recently weighed in on EXR. KeyCorp upped their target price on shares of Extra Space Storage from $172.00 to $178.00 and gave the stock an “overweight” rating in a research report on Monday, September 9th. StockNews.com raised shares of Extra Space Storage from a “sell” rating to a “hold” rating in a research report on Tuesday, July 23rd. Jefferies Financial Group raised shares of Extra Space Storage from a “hold” rating to a “buy” rating and increased their price objective for the company from $162.00 to $204.00 in a research report on Wednesday, September 18th. Royal Bank of Canada assumed coverage on shares of Extra Space Storage in a research report on Tuesday, September 10th. They set a “sector perform” rating and a $180.00 price objective on the stock. Finally, Raymond James increased their price objective on shares of Extra Space Storage from $160.00 to $175.00 and gave the company an “outperform” rating in a research report on Tuesday, July 23rd. Two research analysts have rated the stock with a sell rating, seven have assigned a hold rating and seven have assigned a buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Hold” and an average target price of $170.80.

Extra Space Storage Stock Up 0.6 %

Shares of NYSE EXR opened at $172.12 on Monday. The firm has a fifty day simple moving average of $174.20 and a two-hundred day simple moving average of $158.66. The firm has a market capitalization of $36.44 billion, a PE ratio of 38.33, a price-to-earnings-growth ratio of 6.47 and a beta of 0.86. The company has a current ratio of 0.20, a quick ratio of 0.20 and a debt-to-equity ratio of 0.76. Extra Space Storage has a 12 month low of $101.19 and a 12 month high of $184.87.

Extra Space Storage Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, September 30th. Stockholders of record on Monday, September 16th were paid a $1.62 dividend. This represents a $6.48 annualized dividend and a dividend yield of 3.76%. The ex-dividend date of this dividend was Monday, September 16th. Extra Space Storage’s dividend payout ratio (DPR) is presently 144.32%.

Insider Transactions at Extra Space Storage

In other news, CEO Joseph D. Margolis sold 7,500 shares of the stock in a transaction that occurred on Tuesday, October 1st. The shares were sold at an average price of $178.52, for a total value of $1,338,900.00. Following the transaction, the chief executive officer now owns 24,190 shares in the company, valued at $4,318,398.80. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In other news, EVP William N. Springer sold 2,000 shares of the stock in a transaction that occurred on Wednesday, August 28th. The shares were sold at an average price of $175.33, for a total value of $350,660.00. Following the transaction, the executive vice president now owns 11,919 shares in the company, valued at $2,089,758.27. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO Joseph D. Margolis sold 7,500 shares of the firm’s stock in a transaction that occurred on Tuesday, October 1st. The stock was sold at an average price of $178.52, for a total transaction of $1,338,900.00. Following the sale, the chief executive officer now owns 24,190 shares in the company, valued at approximately $4,318,398.80. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 18,970 shares of company stock worth $3,367,307 in the last quarter. Company insiders own 1.36% of the company’s stock.

Institutional Investors Weigh In On Extra Space Storage

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. Bleakley Financial Group LLC grew its holdings in Extra Space Storage by 4.1% during the 3rd quarter. Bleakley Financial Group LLC now owns 1,973 shares of the real estate investment trust’s stock valued at $356,000 after buying an additional 77 shares in the last quarter. Physician Wealth Advisors Inc. grew its holdings in Extra Space Storage by 4.0% during the 3rd quarter. Physician Wealth Advisors Inc. now owns 11,237 shares of the real estate investment trust’s stock valued at $1,923,000 after buying an additional 431 shares in the last quarter. Hummer Financial Advisory Services Inc grew its holdings in Extra Space Storage by 1.2% during the 3rd quarter. Hummer Financial Advisory Services Inc now owns 5,920 shares of the real estate investment trust’s stock valued at $1,067,000 after buying an additional 70 shares in the last quarter. Swedbank AB grew its holdings in Extra Space Storage by 4.5% during the 3rd quarter. Swedbank AB now owns 243,130 shares of the real estate investment trust’s stock valued at $43,810,000 after buying an additional 10,408 shares in the last quarter. Finally, Paladin Wealth LLC purchased a new stake in Extra Space Storage during the 3rd quarter valued at approximately $755,000. Institutional investors own 99.11% of the company’s stock.

Extra Space Storage Company Profile

Extra Space Storage Inc, headquartered in Salt Lake City, Utah, is a self-administered and self-managed REIT and a member of the S&P 500. As of December 31, 2023, the Company owned and/or operated 3,714 self-storage stores in 42 states and Washington, DC The Company's stores comprise approximately 2.6 million units and approximately 283.0 million square feet of rentable space operating under the Extra Space, Life Storage and Storage Express brands.