Extra Space Storage Inc. (NYSE:EXR) Receives Consensus Rating of “Hold” from Brokerages

Shares of Extra Space Storage Inc. (NYSE:EXR) have received a consensus recommendation of “Hold” from the eleven analysts that are covering the firm, MarketBeat.com reports. One investment analyst has rated the stock with a sell recommendation, six have issued a hold recommendation and four have assigned a buy recommendation to the company. The average 1 year price objective among brokers that have covered the stock in the last year is $174.00.

Several research analysts have weighed in on EXR shares. Truist Financial increased their price objective on Extra Space Storage from $167.00 to $168.00 and gave the stock a “hold” rating in a research report on Thursday, December 5th. Barclays lowered their price objective on Extra Space Storage from $192.00 to $184.00 and set an “overweight” rating on the stock in a research report on Monday, January 13th. Evercore ISI decreased their price target on Extra Space Storage from $170.00 to $168.00 and set an “in-line” rating on the stock in a research report on Monday, October 14th. Scotiabank upgraded Extra Space Storage from a “sector underperform” rating to a “sector perform” rating and set a $167.00 price target on the stock in a research report on Friday, January 10th. Finally, StockNews.com upgraded Extra Space Storage from a “sell” rating to a “hold” rating in a research report on Tuesday, January 28th.

Insider Transactions at Extra Space Storage

In other Extra Space Storage news, CEO Joseph D. Margolis sold 7,500 shares of Extra Space Storage stock in a transaction on Thursday, January 2nd. The stock was sold at an average price of $148.01, for a total value of $1,110,075.00. Following the completion of the sale, the chief executive officer now owns 16,690 shares of the company’s stock, valued at approximately $2,470,286.90. This trade represents a 31.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Diane Olmstead sold 3,081 shares of the firm’s stock in a transaction on Friday, November 15th. The stock was sold at an average price of $164.56, for a total value of $507,009.36. Following the completion of the transaction, the director now owns 5,877 shares in the company, valued at approximately $967,119.12. This trade represents a 34.39 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 1.36% of the company’s stock.

Institutional Investors Weigh In On Extra Space Storage

A number of institutional investors and hedge funds have recently bought and sold shares of the business. Golden State Wealth Management LLC purchased a new position in shares of Extra Space Storage during the fourth quarter valued at approximately $25,000. Ashton Thomas Securities LLC bought a new stake in Extra Space Storage during the 3rd quarter valued at $33,000. Harvest Fund Management Co. Ltd bought a new stake in Extra Space Storage during the 3rd quarter valued at $42,000. Quent Capital LLC lifted its holdings in shares of Extra Space Storage by 89.0% during the 4th quarter. Quent Capital LLC now owns 327 shares of the real estate investment trust’s stock valued at $49,000 after purchasing an additional 154 shares during the last quarter. Finally, Asset Planning Inc purchased a new stake in shares of Extra Space Storage during the 4th quarter valued at $52,000. 99.11% of the stock is owned by institutional investors.

Extra Space Storage Trading Down 0.0 %

NYSE EXR opened at $156.01 on Friday. The company has a market cap of $33.07 billion, a PE ratio of 40.84, a PEG ratio of 7.67 and a beta of 0.91. The company has a current ratio of 0.23, a quick ratio of 0.23 and a debt-to-equity ratio of 0.77. Extra Space Storage has a 12 month low of $131.02 and a 12 month high of $184.87. The stock has a 50 day moving average of $153.37 and a 200-day moving average of $164.27.

Extra Space Storage Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, December 31st. Shareholders of record on Monday, December 16th were paid a $1.62 dividend. The ex-dividend date of this dividend was Monday, December 16th. This represents a $6.48 dividend on an annualized basis and a yield of 4.15%. Extra Space Storage’s dividend payout ratio is currently 169.63%.

About Extra Space Storage

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.