Extra Space Storage (NYSE:EXR) Price Target Lowered to $139.00 at Evercore ISI

Extra Space Storage (NYSE:EXR) had its price objective lowered by stock analysts at Evercore ISI from $145.00 to $139.00 in a research report issued to clients and investors on Wednesday. Evercore ISI’s price objective points to a potential upside of 1.18% from the company’s previous close.

A number of other equities analysts have also weighed in on EXR. TheStreet raised Extra Space Storage from a “c+” rating to a “b-” rating in a research note on Thursday, January 11th. Raymond James reiterated an “outperform” rating and issued a $160.00 price target on shares of Extra Space Storage in a report on Thursday, March 28th. Wells Fargo & Company increased their price target on Extra Space Storage from $150.00 to $160.00 and gave the stock an “overweight” rating in a report on Friday, April 5th. StockNews.com downgraded Extra Space Storage from a “hold” rating to a “sell” rating in a report on Saturday, March 2nd. Finally, Barclays began coverage on Extra Space Storage in a research note on Wednesday, March 27th. They issued an “overweight” rating and a $157.00 price objective on the stock. Two investment analysts have rated the stock with a sell rating, six have issued a hold rating and five have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $149.67.

Extra Space Storage Stock Performance

NYSE:EXR traded up $3.10 during mid-day trading on Wednesday, hitting $137.38. 875,893 shares of the company traded hands, compared to its average volume of 1,170,331. The stock’s fifty day moving average price is $141.64 and its 200-day moving average price is $138.54. Extra Space Storage has a one year low of $101.19 and a one year high of $164.99. The company has a quick ratio of 0.30, a current ratio of 0.30 and a debt-to-equity ratio of 0.71. The firm has a market cap of $29.07 billion, a price-to-earnings ratio of 27.77, a price-to-earnings-growth ratio of 3.37 and a beta of 0.74.

Extra Space Storage (NYSE:EXR) last released its quarterly earnings results on Tuesday, February 27th. The real estate investment trust reported $1.02 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.03 by ($1.01). The company had revenue of $797.77 million for the quarter, compared to the consensus estimate of $778.05 million. Extra Space Storage had a net margin of 31.81% and a return on equity of 8.34%. The business’s revenue for the quarter was up 57.4% on a year-over-year basis. During the same period in the prior year, the firm posted $2.09 EPS. Research analysts anticipate that Extra Space Storage will post 8.05 earnings per share for the current fiscal year.

Insider Buying and Selling at Extra Space Storage

In other Extra Space Storage news, EVP Gwyn Goodson Mcneal sold 1,350 shares of Extra Space Storage stock in a transaction dated Thursday, March 7th. The stock was sold at an average price of $145.00, for a total transaction of $195,750.00. Following the completion of the transaction, the executive vice president now owns 37,028 shares in the company, valued at approximately $5,369,060. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In other Extra Space Storage news, EVP Gwyn Goodson Mcneal sold 1,350 shares of Extra Space Storage stock in a transaction dated Thursday, March 7th. The stock was sold at an average price of $145.00, for a total transaction of $195,750.00. Following the completion of the transaction, the executive vice president now owns 37,028 shares in the company, valued at approximately $5,369,060. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CMO Samrat Sondhi sold 2,048 shares of Extra Space Storage stock in a transaction dated Monday, March 4th. The shares were sold at an average price of $146.46, for a total value of $299,950.08. Following the transaction, the chief marketing officer now owns 94,126 shares of the company’s stock, valued at approximately $13,785,693.96. The disclosure for this sale can be found here. In the last quarter, insiders sold 3,532 shares of company stock worth $514,819. Insiders own 1.36% of the company’s stock.

Institutional Investors Weigh In On Extra Space Storage

Institutional investors have recently modified their holdings of the business. EdgeRock Capital LLC acquired a new stake in shares of Extra Space Storage during the 4th quarter valued at about $26,000. Creekmur Asset Management LLC acquired a new stake in shares of Extra Space Storage during the 4th quarter valued at about $26,000. Zions Bancorporation N.A. grew its position in shares of Extra Space Storage by 241.9% during the 3rd quarter. Zions Bancorporation N.A. now owns 212 shares of the real estate investment trust’s stock valued at $26,000 after acquiring an additional 150 shares during the period. Anchor Investment Management LLC acquired a new stake in shares of Extra Space Storage during the 4th quarter valued at about $35,000. Finally, EverSource Wealth Advisors LLC grew its position in shares of Extra Space Storage by 162.5% during the 3rd quarter. EverSource Wealth Advisors LLC now owns 231 shares of the real estate investment trust’s stock valued at $28,000 after acquiring an additional 143 shares during the period. 99.11% of the stock is currently owned by institutional investors and hedge funds.

About Extra Space Storage

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.