Extra Space Storage Inc. (NYSE:EXR) Given Average Rating of “Hold” by Brokerages

Shares of Extra Space Storage Inc. (NYSE:EXR) have received an average recommendation of “Hold” from the eleven research firms that are covering the stock, Marketbeat.com reports. One research analyst has rated the stock with a sell rating, six have assigned a hold rating and four have issued a buy rating on the company. The average 12-month price objective among analysts that have issued ratings on the stock in the last year is $174.00.

Several equities analysts have weighed in on EXR shares. Scotiabank raised Extra Space Storage from a “sector underperform” rating to a “sector perform” rating and set a $167.00 target price on the stock in a research note on Friday, January 10th. Truist Financial lifted their target price on Extra Space Storage from $167.00 to $168.00 and gave the company a “hold” rating in a research note on Thursday, December 5th. StockNews.com raised Extra Space Storage from a “sell” rating to a “hold” rating in a research note on Tuesday, January 28th. Barclays lowered their price target on Extra Space Storage from $192.00 to $184.00 and set an “overweight” rating for the company in a research note on Monday, January 13th. Finally, Wells Fargo & Company reissued an “equal weight” rating and issued a $175.00 price target on shares of Extra Space Storage in a research note on Monday, October 21st.

Insider Buying and Selling

In related news, CEO Joseph D. Margolis sold 7,500 shares of the business’s stock in a transaction that occurred on Thursday, January 2nd. The stock was sold at an average price of $148.01, for a total value of $1,110,075.00. Following the completion of the sale, the chief executive officer now directly owns 16,690 shares in the company, valued at approximately $2,470,286.90. The trade was a 31.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Corporate insiders own 1.36% of the company’s stock.

Institutional Investors Weigh In On Extra Space Storage

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. State Street Corp lifted its holdings in Extra Space Storage by 1.7% in the 3rd quarter. State Street Corp now owns 13,390,830 shares of the real estate investment trust’s stock worth $2,412,894,000 after purchasing an additional 227,006 shares during the last quarter. Cohen & Steers Inc. lifted its holdings in shares of Extra Space Storage by 5.9% during the fourth quarter. Cohen & Steers Inc. now owns 9,246,133 shares of the real estate investment trust’s stock worth $1,383,094,000 after buying an additional 516,941 shares during the last quarter. Norges Bank acquired a new position in shares of Extra Space Storage during the fourth quarter worth approximately $938,647,000. Dimensional Fund Advisors LP lifted its holdings in shares of Extra Space Storage by 0.8% during the fourth quarter. Dimensional Fund Advisors LP now owns 3,136,640 shares of the real estate investment trust’s stock worth $469,229,000 after buying an additional 24,533 shares during the last quarter. Finally, Massachusetts Financial Services Co. MA lifted its holdings in shares of Extra Space Storage by 3.5% during the fourth quarter. Massachusetts Financial Services Co. MA now owns 3,064,970 shares of the real estate investment trust’s stock worth $458,520,000 after buying an additional 104,986 shares during the last quarter. 99.11% of the stock is currently owned by institutional investors and hedge funds.

Extra Space Storage Trading Down 0.6 %

NYSE:EXR opened at $154.96 on Friday. The company has a debt-to-equity ratio of 0.77, a current ratio of 0.23 and a quick ratio of 0.23. Extra Space Storage has a fifty-two week low of $131.02 and a fifty-two week high of $184.87. The stock’s 50-day moving average is $152.30 and its two-hundred day moving average is $164.00. The stock has a market cap of $32.85 billion, a PE ratio of 40.57, a price-to-earnings-growth ratio of 7.77 and a beta of 0.91.

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.