Extra Space Storage (NYSE:EXR) Price Target Raised to $143.00

Extra Space Storage (NYSE:EXR) had its target price boosted by Mizuho from $137.00 to $143.00 in a report released on Monday, Marketbeat reports. Mizuho currently has an outperform rating on the real estate investment trust’s stock.

Other research analysts have also recently issued research reports about the stock. UBS Group dropped their price objective on shares of Extra Space Storage from $156.00 to $148.00 and set a “buy” rating for the company in a report on Thursday, January 8th. Truist Financial dropped their price target on shares of Extra Space Storage from $150.00 to $142.00 and set a “hold” rating for the company in a research note on Tuesday, December 16th. Wall Street Zen cut Extra Space Storage from a “hold” rating to a “sell” rating in a research note on Saturday, November 1st. Weiss Ratings reiterated a “hold (c)” rating on shares of Extra Space Storage in a report on Wednesday, October 8th. Finally, Morgan Stanley cut their price target on Extra Space Storage from $155.00 to $152.00 and set an “equal weight” rating on the stock in a report on Friday, December 5th. Six investment analysts have rated the stock with a Buy rating and eleven have assigned a Hold rating to the company’s stock. According to data from MarketBeat, Extra Space Storage has an average rating of “Hold” and a consensus target price of $146.27.

Extra Space Storage Trading Up 3.1%

EXR opened at $144.88 on Monday. Extra Space Storage has a 52 week low of $121.03 and a 52 week high of $162.77. The company has a quick ratio of 0.24, a current ratio of 0.24 and a debt-to-equity ratio of 0.89. The business has a fifty day simple moving average of $132.27 and a 200-day simple moving average of $139.81. The firm has a market cap of $30.75 billion, a P/E ratio of 32.34, a P/E/G ratio of 2.60 and a beta of 1.27.

Extra Space Storage (NYSE:EXR) last announced its earnings results on Wednesday, October 29th. The real estate investment trust reported $2.08 EPS for the quarter, beating analysts’ consensus estimates of $2.06 by $0.02. The company had revenue of $858.46 million during the quarter, compared to analysts’ expectations of $736.26 million. Extra Space Storage had a return on equity of 6.56% and a net margin of 28.40%.Extra Space Storage’s revenue for the quarter was up 4.1% on a year-over-year basis. During the same period last year, the business posted $2.07 EPS. Extra Space Storage has set its FY 2025 guidance at 8.120-8.20 EPS. On average, equities analysts expect that Extra Space Storage will post 8.1 earnings per share for the current year.

Extra Space Storage Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Wednesday, December 31st. Shareholders of record on Monday, December 15th were issued a dividend of $1.62 per share. This represents a $6.48 dividend on an annualized basis and a yield of 4.5%. The ex-dividend date of this dividend was Monday, December 15th. Extra Space Storage’s payout ratio is 144.64%.

Institutional Investors Weigh In On Extra Space Storage

Hedge funds and other institutional investors have recently made changes to their positions in the business. Avalon Trust Co purchased a new stake in Extra Space Storage in the 3rd quarter valued at $28,000. Caitong International Asset Management Co. Ltd acquired a new position in Extra Space Storage in the third quarter valued at $28,000. Chung Wu Investment Group LLC purchased a new stake in shares of Extra Space Storage in the second quarter valued at about $29,000. Versant Capital Management Inc boosted its stake in shares of Extra Space Storage by 60.2% during the third quarter. Versant Capital Management Inc now owns 213 shares of the real estate investment trust’s stock worth $30,000 after buying an additional 80 shares during the period. Finally, Davis Capital Management acquired a new stake in shares of Extra Space Storage during the third quarter worth about $35,000. Institutional investors and hedge funds own 99.11% of the company’s stock.

About Extra Space Storage

Extra Space Storage (NYSE: EXR) is a real estate investment trust that specializes in the ownership, development and operation of self-storage properties. The company provides storage solutions for residential and commercial customers, offering a range of unit sizes, climate-controlled units and specialized options such as vehicle and boat storage. Extra Space Storage markets itself as a customer-focused operator, with online rentals, contactless move-in options and ancillary retail products like packing supplies and insurance to support tenant needs.

Its business model combines property ownership with third-party management and development activities.