Extra Space Storage (NYSE:EXR) Price Target Increased to $192.00 by Analysts at Barclays

Extra Space Storage (NYSE:EXR) had its price target upped by Barclays from $188.00 to $192.00 in a research note released on Monday morning, Benzinga reports. Barclays currently has an overweight rating on the real estate investment trust’s stock.

Several other research analysts also recently commented on EXR. Scotiabank lifted their price target on Extra Space Storage from $159.00 to $169.00 and gave the stock a “sector underperform” rating in a research report on Thursday, August 22nd. StockNews.com raised Extra Space Storage from a “sell” rating to a “hold” rating in a research report on Tuesday, July 23rd. Bank of America lowered Extra Space Storage from a “neutral” rating to an “underperform” rating and decreased their price objective for the stock from $172.00 to $155.00 in a report on Monday, August 5th. Evercore ISI decreased their price objective on Extra Space Storage from $170.00 to $168.00 and set an “in-line” rating on the stock in a report on Monday, October 14th. Finally, Truist Financial lifted their price objective on Extra Space Storage from $152.00 to $167.00 and gave the stock a “hold” rating in a report on Friday, August 16th. Two investment analysts have rated the stock with a sell rating, eight have assigned a hold rating and six have given a buy rating to the company. According to MarketBeat.com, Extra Space Storage currently has a consensus rating of “Hold” and a consensus price target of $171.07.

Extra Space Storage Stock Up 0.6 %

EXR opened at $167.46 on Monday. Extra Space Storage has a fifty-two week low of $101.19 and a fifty-two week high of $184.87. The business has a 50-day moving average of $174.53 and a 200-day moving average of $159.97. The company has a debt-to-equity ratio of 0.76, a current ratio of 0.20 and a quick ratio of 0.20. The company has a market capitalization of $35.46 billion, a PE ratio of 37.30, a price-to-earnings-growth ratio of 6.25 and a beta of 0.86.

Extra Space Storage Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, September 30th. Stockholders of record on Monday, September 16th were given a dividend of $1.62 per share. The ex-dividend date of this dividend was Monday, September 16th. This represents a $6.48 dividend on an annualized basis and a dividend yield of 3.87%. Extra Space Storage’s payout ratio is currently 144.32%.

Insider Transactions at Extra Space Storage

In other Extra Space Storage news, CEO Joseph D. Margolis sold 7,500 shares of the stock in a transaction dated Tuesday, October 1st. The stock was 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 of the company’s stock, valued at approximately $4,318,398.80. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. In other Extra Space Storage news, CEO Joseph D. Margolis sold 7,500 shares of the stock in a transaction dated Tuesday, October 1st. The stock was 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 of the company’s stock, valued at approximately $4,318,398.80. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Kenneth M. Woolley sold 6,647 shares of the stock in a transaction dated Friday, September 13th. The shares were sold at an average price of $177.23, for a total value of $1,178,047.81. Following the completion of the transaction, the director now directly owns 404,306 shares in the company, valued at $71,655,152.38. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 18,970 shares of company stock worth $3,367,307 over the last 90 days. 1.36% of the stock is owned by insiders.

Institutional Investors Weigh In On Extra Space Storage

A number of hedge funds have recently modified their holdings of EXR. Wealth Enhancement Advisory Services LLC raised its position in shares of Extra Space Storage by 8.3% during the first quarter. Wealth Enhancement Advisory Services LLC now owns 7,636 shares of the real estate investment trust’s stock worth $1,122,000 after purchasing an additional 583 shares during the period. LVW Advisors LLC raised its position in shares of Extra Space Storage by 24.1% during the first quarter. LVW Advisors LLC now owns 2,119 shares of the real estate investment trust’s stock worth $311,000 after purchasing an additional 412 shares during the period. Azzad Asset Management Inc. ADV raised its position in shares of Extra Space Storage by 4.1% during the first quarter. Azzad Asset Management Inc. ADV now owns 10,837 shares of the real estate investment trust’s stock worth $1,593,000 after purchasing an additional 427 shares during the period. State of Alaska Department of Revenue raised its position in shares of Extra Space Storage by 0.6% during the first quarter. State of Alaska Department of Revenue now owns 123,170 shares of the real estate investment trust’s stock worth $18,104,000 after purchasing an additional 750 shares during the period. Finally, Norden Group LLC acquired a new stake in shares of Extra Space Storage during the first quarter worth about $1,947,000. Institutional investors and hedge funds 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.