Mizuho Cuts Extra Space Storage (NYSE:EXR) Price Target to $152.00

Extra Space Storage (NYSE:EXR) had its price objective cut by Mizuho from $155.00 to $152.00 in a report issued on Wednesday, MarketBeat reports. They currently have an outperform rating on the real estate investment trust’s stock.

Other equities research analysts have also recently issued reports about the stock. Raymond James Financial began coverage on shares of Extra Space Storage in a report on Thursday, July 16th. They issued an “outperform” rating and a $44.00 price objective for the company. Wells Fargo & Company cut their target price on Extra Space Storage from $158.00 to $157.00 and set an “overweight” rating on the stock in a report on Tuesday. Wall Street Zen raised Extra Space Storage from a “sell” rating to a “hold” rating in a research report on Sunday, August 9th. The Goldman Sachs Group reiterated a “neutral” rating and set a $160.00 price target on shares of Extra Space Storage in a research note on Thursday, July 30th. Finally, Barclays raised their price objective on Extra Space Storage from $170.00 to $172.00 and gave the company an “overweight” rating in a research note on Friday, July 10th. Seven analysts have rated the stock with a Buy rating and nine have assigned a Hold rating to the company. According to data from MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $148.93.

Extra Space Storage Price Performance

Shares of EXR opened at $139.33 on Wednesday. The firm has a market cap of $29.44 billion, a PE ratio of 30.76, a PEG ratio of 4.05 and a beta of 1.16. The firm’s 50 day moving average price is $146.48 and its 200 day moving average price is $143.86. The company has a debt-to-equity ratio of 0.96, a quick ratio of 1.56 and a current ratio of 1.56. Extra Space Storage has a twelve month low of $125.71 and a twelve month high of $158.88.

Extra Space Storage (NYSE:EXR) last posted its earnings results on Tuesday, July 28th. The real estate investment trust reported $1.25 EPS for the quarter, topping the consensus estimate of $1.16 by $0.09. Extra Space Storage had a net margin of 27.80% and a return on equity of 6.70%. The company had revenue of $874.15 million during the quarter, compared to the consensus estimate of $874.99 million. During the same period in the previous year, the firm posted $2.05 earnings per share. The company’s revenue for the quarter was up 3.9% compared to the same quarter last year. Extra Space Storage has set its FY 2026 guidance at 8.250-8.400 EPS. As a group, research analysts expect that Extra Space Storage will post 8.33 EPS for the current fiscal year.

Extra Space Storage Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, September 30th. Investors of record on Tuesday, September 15th will be issued a $1.62 dividend. This represents a $6.48 annualized dividend and a yield of 4.7%. The ex-dividend date is Tuesday, September 15th. Extra Space Storage’s dividend payout ratio (DPR) is 143.05%.

Insider Buying and Selling

In other Extra Space Storage news, EVP Gwyn McNeal sold 3,300 shares of the business’s stock in a transaction on Thursday, June 11th. The shares were sold at an average price of $150.00, for a total transaction of $495,000.00. Following the completion of the transaction, the executive vice president owned 37,374 shares of the company’s stock, valued at $5,606,100. The trade was a 8.11% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 0.96% of the stock is owned by company insiders.

Institutional Investors Weigh In On Extra Space Storage

Several hedge funds and other institutional investors have recently made changes to their positions in the business. Reflection Asset Management acquired a new position in shares of Extra Space Storage during the 4th quarter worth about $26,000. Raiffeisen Bank International AG grew its holdings in Extra Space Storage by 82.4% in the 2nd quarter. Raiffeisen Bank International AG now owns 186 shares of the real estate investment trust’s stock valued at $28,000 after buying an additional 84 shares during the last quarter. Caitong International Asset Management Co. Ltd bought a new position in Extra Space Storage in the 3rd quarter worth approximately $28,000. Cassaday & Co Wealth Management LLC bought a new position in Extra Space Storage in the 1st quarter worth approximately $30,000. Finally, 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. 99.11% of the stock is owned by institutional investors and hedge funds.

Extra Space Storage Company Profile

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.