Extra Space Storage (NYSE:EXR) Price Target Cut to $139.00

Extra Space Storage (NYSE:EXR) had its price target decreased by analysts at Evercore ISI from $145.00 to $139.00 in a research note issued to investors on Wednesday. Evercore ISI’s price target indicates a potential downside of 2.02% from the company’s current price.

Other equities research analysts have also issued research reports about the stock. Raymond James reiterated an “outperform” rating and set a $160.00 price objective on shares of Extra Space Storage in a report on Thursday, March 28th. TheStreet upgraded shares of Extra Space Storage from a “c+” rating to a “b-” rating in a report on Thursday, January 11th. The Goldman Sachs Group lifted their price objective on shares of Extra Space Storage from $168.00 to $187.00 and gave the company a “buy” rating in a report on Thursday, January 11th. Scotiabank initiated coverage on shares of Extra Space Storage in a research report on Tuesday, February 13th. They set a “sector underperform” rating and a $131.00 target price on the stock. Finally, Deutsche Bank Aktiengesellschaft initiated coverage on shares of Extra Space Storage in a research report on Tuesday, January 30th. They set a “hold” rating and a $141.00 target price on the stock. Two research analysts have rated the stock with a sell rating, six have given a hold rating and five have issued a buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $149.67.

Extra Space Storage Trading Up 1.5 %

Shares of Extra Space Storage stock traded up $2.08 during trading on Wednesday, hitting $141.87. The stock had a trading volume of 969,123 shares, compared to its average volume of 1,186,975. The firm’s fifty day simple moving average is $141.56 and its 200-day simple moving average is $138.70. The stock has a market cap of $30.02 billion, a PE ratio of 31.60, a PEG ratio of 3.41 and a beta of 0.76. The company has a debt-to-equity ratio of 0.73, a current ratio of 0.15 and a quick ratio of 0.30. Extra Space Storage has a 12 month low of $101.19 and a 12 month high of $164.99.

Extra Space Storage (NYSE:EXR) last released its 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). Extra Space Storage had a return on equity of 6.76% and a net margin of 29.10%. The firm had revenue of $797.77 million during the quarter, compared to the consensus estimate of $778.05 million. During the same quarter last year, the business posted $2.09 EPS. Extra Space Storage’s revenue was up 57.4% compared to the same quarter last year. As a group, sell-side analysts expect that Extra Space Storage will post 8.05 EPS for the current fiscal year.

Insider Transactions at Extra Space Storage

In other Extra Space Storage news, CMO Samrat Sondhi sold 2,048 shares of the business’s stock in a transaction that occurred on Monday, March 4th. The shares were sold at an average price of $146.46, for a total transaction of $299,950.08. Following the sale, the chief marketing officer now owns 94,126 shares of the company’s stock, valued at approximately $13,785,693.96. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In other Extra Space Storage news, EVP Gwyn Goodson Mcneal sold 1,350 shares of the business’s stock in a transaction that occurred on Thursday, March 7th. The shares were sold at an average price of $145.00, for a total transaction of $195,750.00. Following the sale, the executive vice president now owns 37,028 shares of the company’s stock, valued at approximately $5,369,060. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, CMO Samrat Sondhi sold 2,048 shares of the business’s stock in a transaction that occurred on Monday, March 4th. The stock was sold at an average price of $146.46, for a total transaction of $299,950.08. Following the sale, the chief marketing officer now directly owns 94,126 shares in the company, valued at approximately $13,785,693.96. The disclosure for this sale can be found here. Insiders have sold a total of 3,532 shares of company stock valued at $514,819 in the last 90 days. Insiders own 1.36% of the company’s stock.

Institutional Trading of Extra Space Storage

Institutional investors and hedge funds have recently bought and sold shares of the business. EdgeRock Capital LLC acquired a new stake in Extra Space Storage during the 4th quarter valued at approximately $26,000. Creekmur Asset Management LLC acquired a new stake in Extra Space Storage during the 4th quarter valued at approximately $26,000. Zions Bancorporation N.A. lifted its stake in 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 Extra Space Storage during the 4th quarter valued at approximately $35,000. Finally, EverSource Wealth Advisors LLC lifted its stake in 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.

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.