Extra Space Storage Inc. (NYSE:EXR) Given Average Recommendation of “Hold” by Analysts

Extra Space Storage Inc. (NYSE:EXR) has received an average rating of “Hold” from the twelve ratings firms that are currently covering the firm, MarketBeat Ratings reports. One analyst has rated the stock with a sell recommendation, six have issued a hold recommendation and five have assigned a buy recommendation to the company. The average twelve-month price target among brokerages that have covered the stock in the last year is $151.83.

EXR has been the topic of a number of analyst reports. Citigroup lowered their target price on shares of Extra Space Storage from $168.00 to $160.00 and set a “neutral” rating on the stock in a report on Friday, June 7th. Raymond James reissued an “outperform” rating and set a $160.00 target price on shares of Extra Space Storage in a report on Thursday, March 28th. Evercore ISI lowered their target price on shares of Extra Space Storage from $145.00 to $139.00 in a report on Wednesday, May 1st. Wells Fargo & Company upped their price target on shares of Extra Space Storage from $150.00 to $160.00 and gave the stock an “overweight” rating in a report on Friday, April 5th. Finally, StockNews.com cut shares of Extra Space Storage from a “hold” rating to a “sell” rating in a report on Saturday, March 2nd.

Extra Space Storage Trading Down 0.8 %

Shares of EXR stock opened at $155.74 on Friday. The company’s fifty day simple moving average is $146.62 and its two-hundred day simple moving average is $146.72. The company has a debt-to-equity ratio of 0.73, a current ratio of 0.15 and a quick ratio of 0.15. Extra Space Storage has a 1 year low of $101.19 and a 1 year high of $164.99. The stock has a market capitalization of $32.97 billion, a price-to-earnings ratio of 34.69, a PEG ratio of 3.77 and a beta of 0.81.

Extra Space Storage Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, June 28th. Shareholders of record on Friday, June 14th will be given a dividend of $1.62 per share. This represents a $6.48 dividend on an annualized basis and a yield of 4.16%. The ex-dividend date of this dividend is Friday, June 14th. Extra Space Storage’s payout ratio is currently 144.32%.

Insiders Place Their Bets

In related news, Director Joseph J. Bonner sold 677 shares of the stock in a transaction on Friday, June 7th. The shares were sold at an average price of $148.22, for a total transaction of $100,344.94. Following the transaction, the director now owns 5,229 shares of the company’s stock, valued at approximately $775,042.38. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Insiders own 1.36% of the company’s stock.

Hedge Funds Weigh In On Extra Space Storage

A number of large investors have recently added to or reduced their stakes in EXR. EdgeRock Capital LLC purchased a new position in Extra Space Storage in the 4th quarter worth $26,000. Creekmur Asset Management LLC bought a new stake in Extra Space Storage in the 4th quarter worth $26,000. Anchor Investment Management LLC bought a new stake in Extra Space Storage in the 4th quarter worth $35,000. Bruce G. Allen Investments LLC bought a new stake in Extra Space Storage in the 4th quarter worth $41,000. Finally, Livforsakringsbolaget Skandia Omsesidigt grew its holdings in Extra Space Storage by 200.0% in the 4th quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 300 shares of the real estate investment trust’s stock worth $48,000 after acquiring an additional 200 shares during the last quarter. Hedge funds and other institutional investors own 99.11% of the company’s stock.

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.