Extra Space Storage (NYSE:EXR) PT Lowered to $168.00

Extra Space Storage (NYSE:EXR) had its price target decreased by investment analysts at Evercore ISI from $170.00 to $168.00 in a report released on Monday, Benzinga reports. The firm presently has an “in-line” rating on the real estate investment trust’s stock. Evercore ISI’s price objective indicates a potential downside of 1.83% from the company’s current price.

A number of other research analysts have also issued reports on EXR. Barclays boosted their target price on shares of Extra Space Storage from $158.00 to $188.00 and gave the company an “overweight” rating in a research note on Thursday, August 22nd. Truist Financial increased their price objective on Extra Space Storage from $152.00 to $167.00 and gave the stock a “hold” rating in a report on Friday, August 16th. Bank of America cut Extra Space Storage from a “neutral” rating to an “underperform” rating and lowered their target price for the company from $172.00 to $155.00 in a research report on Monday, August 5th. StockNews.com upgraded Extra Space Storage from a “sell” rating to a “hold” rating in a research report on Tuesday, July 23rd. Finally, Wells Fargo & Company raised their price target on Extra Space Storage from $160.00 to $175.00 and gave the company an “overweight” rating in a report on Friday, July 26th. Two research analysts have rated the stock with a sell rating, seven have given a hold rating and seven have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $170.80.

Extra Space Storage Stock Performance

EXR stock opened at $171.13 on Monday. Extra Space Storage has a 1 year low of $101.19 and a 1 year high of $184.87. The stock has a market capitalization of $36.23 billion, a price-to-earnings ratio of 38.11, a PEG ratio of 6.47 and a beta of 0.86. The company has a debt-to-equity ratio of 0.76, a quick ratio of 0.20 and a current ratio of 0.20. The stock’s fifty day moving average is $173.99 and its two-hundred day moving average is $158.56.

Insider Transactions at Extra Space Storage

In other news, CEO Joseph D. Margolis sold 7,500 shares of the business’s stock in a transaction on Tuesday, October 1st. The stock was sold at an average price of $178.52, for a total transaction of $1,338,900.00. Following the sale, the chief executive officer now directly owns 24,190 shares of the company’s stock, valued at $4,318,398.80. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In other news, EVP William N. Springer sold 2,000 shares of Extra Space Storage stock in a transaction on Wednesday, August 28th. The stock was sold at an average price of $175.33, for a total transaction of $350,660.00. Following the transaction, the executive vice president now owns 11,919 shares in the company, valued at approximately $2,089,758.27. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CEO Joseph D. Margolis sold 7,500 shares of the stock in a transaction dated Tuesday, October 1st. The stock was sold at an average price of $178.52, for a total value of $1,338,900.00. Following the completion of the sale, the chief executive officer now directly owns 24,190 shares of the company’s stock, valued at approximately $4,318,398.80. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 18,970 shares of company stock valued at $3,367,307 in the last three months. 1.36% of the stock is currently owned by corporate insiders.

Institutional Trading of Extra Space Storage

Several institutional investors have recently made changes to their positions in EXR. Boston Partners acquired a new stake in shares of Extra Space Storage during the 1st quarter valued at about $130,554,000. Janus Henderson Group PLC grew its position in Extra Space Storage by 2,244.2% in the first quarter. Janus Henderson Group PLC now owns 597,729 shares of the real estate investment trust’s stock worth $87,824,000 after acquiring an additional 572,231 shares in the last quarter. Canada Pension Plan Investment Board increased its stake in shares of Extra Space Storage by 43.7% during the 1st quarter. Canada Pension Plan Investment Board now owns 1,557,135 shares of the real estate investment trust’s stock worth $228,899,000 after purchasing an additional 473,559 shares during the last quarter. Wellington Management Group LLP raised its holdings in shares of Extra Space Storage by 25.8% during the 4th quarter. Wellington Management Group LLP now owns 2,199,347 shares of the real estate investment trust’s stock valued at $352,621,000 after purchasing an additional 451,242 shares in the last quarter. Finally, American Century Companies Inc. lifted its stake in shares of Extra Space Storage by 543.5% in the 2nd quarter. American Century Companies Inc. now owns 397,170 shares of the real estate investment trust’s stock valued at $61,724,000 after purchasing an additional 335,447 shares during the last quarter. 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.