Extra Space Storage Inc (NYSE:EXR) Stock Has Consensus Price Target of $148.67

Shares of Extra Space Storage Inc (NYSE:EXR) have been given an average recommendation of “Moderate Buy” by the sixteen brokerages that are currently covering the stock, Marketbeat reports. Eight investment analysts have rated the stock with a hold recommendation and eight have assigned a buy recommendation to the company. The average 1 year price objective among analysts that have issued ratings on the stock in the last year is $148.60.

EXR has been the topic of several research analyst reports. Barclays raised their price objective on Extra Space Storage from $170.00 to $172.00 and gave the stock an “overweight” rating in a research note on Friday, July 10th. UBS Group reduced their price target on shares of Extra Space Storage from $163.00 to $152.00 and set a “buy” rating on the stock in a research report on Friday, October 16th. Evercore set a $146.00 price objective on shares of Extra Space Storage in a research note on Monday, September 21st. Scotiabank increased their price target on Extra Space Storage from $157.00 to $158.00 and gave the stock a “sector perform” rating in a research report on Tuesday, August 18th. Finally, Truist Financial raised Extra Space Storage from a “hold” rating to a “buy” rating and cut their price target for the stock from $148.00 to $147.00 in a report on Thursday, October 1st.

Extra Space Storage Stock Performance

Shares of EXR stock opened at $151.50 on Monday. The company has a debt-to-equity ratio of 0.97, a current ratio of 0.25 and a quick ratio of 1.56. The company’s fifty day moving average price is $138.55 and its two-hundred day moving average price is $142.35. The firm has a market capitalization of $32.01 billion, a P/E ratio of 17.76, a P/E/G ratio of 4.39 and a beta of 1.15. Extra Space Storage has a 12 month low of $125.71 and a 12 month high of $158.88.

Extra Space Storage (NYSE:EXR) last announced its earnings results on Tuesday, October 27th. The real estate investment trust reported $1.17 earnings per share for the quarter, missing the consensus estimate of $2.10 by ($0.93). The business had revenue of $889.79 million for the quarter, compared to analyst estimates of $886.61 million. Extra Space Storage had a net margin of 29.90% and a return on equity of 7.36%. The firm’s revenue was up 3.6% on a year-over-year basis. During the same quarter in the prior year, the business earned $2.08 earnings per share. On average, research analysts anticipate that Extra Space Storage will post 8.45 earnings per share for the current fiscal year.

Extra Space Storage Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Wednesday, September 30th. Stockholders of record on Tuesday, September 15th were given a dividend of $1.62 per share. The ex-dividend date was Tuesday, September 15th. This represents a $6.48 annualized dividend and a dividend yield of 4.3%. Extra Space Storage’s dividend payout ratio is currently 143.05%.

Institutional Investors Weigh In On Extra Space Storage

A number of hedge funds have recently made changes to their positions in EXR. Raiffeisen Bank International AG boosted its stake in Extra Space Storage by 82.4% during the 2nd quarter. Raiffeisen Bank International AG now owns 186 shares of the real estate investment trust’s stock valued at $28,000 after purchasing an additional 84 shares during the period. Cassaday & Co Wealth Management LLC bought a new position in Extra Space Storage in the 1st quarter worth approximately $30,000. Security National Bank of SO Dak acquired a new position in shares of Extra Space Storage during the second quarter worth approximately $34,000. CoreCap Advisors LLC lifted its holdings in shares of Extra Space Storage by 975.0% during the second quarter. CoreCap Advisors LLC now owns 258 shares of the real estate investment trust’s stock worth $37,000 after buying an additional 234 shares during the last quarter. Finally, Ancora Advisors LLC acquired a new position in shares of Extra Space Storage during the second quarter worth approximately $43,000. Institutional investors own 99.11% of the company’s stock.

Extra Space Storage Company Profile

Extra Space Storage Inc is a real estate investment trust that owns, operates, manages and develops self-storage properties in the United States. The company provides storage units for residential, business and vehicle-storage customers, with facilities offering a range of unit sizes and access options.

In addition to operating properties under the Extra Space Storage brand, the company provides third-party property management, acquisition and development services for self-storage owners.