Extra Space Storage Inc (NYSE:EXR) Stock Has Average Price Target of $148.67 According to Analysts

Shares of Extra Space Storage Inc (NYSE:EXR) have been given an average rating of “Moderate Buy” by the sixteen ratings firms that are covering the stock, Marketbeat reports. Eight analysts have rated the stock with a hold recommendation and eight have assigned a buy recommendation to the company. The average 12-month price objective among analysts that have issued a report on the stock in the last year is $148.67.

A number of brokerages have weighed in on EXR. Wells Fargo & Company cut their target price on shares of Extra Space Storage from $158.00 to $157.00 and set an “overweight” rating for the company in a research report on Tuesday, September 1st. UBS Group lowered their price target on shares of Extra Space Storage from $163.00 to $152.00 and set a “buy” rating on the stock in a research report on Friday, October 16th. Evercore set a $146.00 price target on shares of Extra Space Storage in a research report on Monday, September 21st. JPMorgan Chase & Co. dropped their price target on shares of Extra Space Storage from $157.00 to $153.00 and set a “neutral” rating on the stock in a research note on Monday, September 21st. Finally, Wall Street Zen raised shares of Extra Space Storage from a “sell” rating to a “hold” rating in a report on Sunday, August 9th.

Institutional Investors Weigh In On Extra Space Storage

Institutional investors have recently made changes to their positions in the stock. BlackRock Inc. bought a new stake in shares of Extra Space Storage during the 2nd quarter valued at $3,334,263,000. First Eagle Investment Management LLC raised its stake in shares of Extra Space Storage by 1.0% during the 2nd quarter. First Eagle Investment Management LLC now owns 3,876,997 shares of the real estate investment trust’s stock valued at $563,328,000 after purchasing an additional 38,306 shares during the period. Dimensional Fund Advisors LP lifted its holdings in Extra Space Storage by 1.1% during the 1st quarter. Dimensional Fund Advisors LP now owns 3,206,587 shares of the real estate investment trust’s stock worth $420,461,000 after purchasing an additional 33,631 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its holdings in Extra Space Storage by 24,295.0% during the 2nd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 2,241,413 shares of the real estate investment trust’s stock worth $325,677,000 after purchasing an additional 2,232,225 shares in the last quarter. Finally, Legal & General Group Plc purchased a new stake in Extra Space Storage during the 2nd quarter worth about $299,746,000. Hedge funds and other institutional investors own 99.11% of the company’s stock.

Key Stories Impacting Extra Space Storage

Here are the key news stories impacting Extra Space Storage this week:

• Positive Sentiment: Core FFO beat expectations: Third-quarter core FFO was $2.17 per share, above the $2.10 consensus estimate and up from $2.08 a year earlier. Revenue of $889.8 million also exceeded forecasts of $886.6 million. Extra Space Storage Beats Q3 FFO and Revenue Estimates
• Positive Sentiment: Same-store fundamentals improved: Same-store net operating income rose 4.6%, supported by a 2.7% increase in revenue and a 1.8% decline in expenses. Management raised its 2026 core FFO and same-store NOI growth outlook, providing a positive catalyst for the stock. EXR Q3 Core FFO Improves on Strong Same-Store NOI
• Positive Sentiment: Capital returns supported sentiment: Extra Space repurchased approximately 2.4 million shares for $327.1 million during the quarter and authorized an additional $500 million buyback. Evercore ISI also raised its price target to $146 from $142. Evercore ISI Adjusts Price Target on Extra Space Storage
• Neutral Sentiment: Noah Springer is scheduled to succeed retiring CEO Joe Margolis on January 1, 2027. The transition appears planned, but investors may monitor execution under the new leadership. Extra Space Storage Reports 2026 Third Quarter Results
• Negative Sentiment: Valuation and GAAP results remain concerns: Reported EPS of $1.17 missed the $2.10 analyst estimate, although the comparison was affected by real-estate-related items. Analysts also argue that slower 2%–4% AFFO growth, elevated interest rates and limited pricing power make EXR’s valuation difficult to justify. Extra Space Storage Better Results Still Not a Buy

Extra Space Storage Stock Up 0.2%

Shares of NYSE EXR opened at $144.85 on Monday. Extra Space Storage has a one year low of $125.71 and a one year high of $158.88. The company has a debt-to-equity ratio of 0.96, a current ratio of 1.56 and a quick ratio of 1.56. The business’s fifty day moving average price is $138.44 and its 200-day moving average price is $142.25. The stock has a market capitalization of $30.60 billion, a PE ratio of 31.98, a P/E/G ratio of 4.25 and a beta of 1.15.

Extra Space Storage (NYSE:EXR) last posted its quarterly earnings results on Tuesday, October 27th. The real estate investment trust reported $1.17 earnings per share for the quarter, missing the consensus estimate of $2.10 by ($0.93). Extra Space Storage had a return on equity of 6.70% and a net margin of 27.80%. The firm had revenue of $889.79 million for the quarter, compared to the consensus estimate of $886.61 million. During the same quarter in the previous year, the company posted $2.08 EPS. The firm’s revenue was up 3.6% compared to the same quarter last year. On average, equities research analysts anticipate that Extra Space Storage will post 8.34 EPS for the current year.

Extra Space Storage Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Wednesday, September 30th. Shareholders of record on Tuesday, September 15th were issued a dividend of $1.62 per share. The ex-dividend date of this dividend was Tuesday, September 15th. This represents a $6.48 dividend on an annualized basis and a yield of 4.5%. Extra Space Storage’s payout ratio is presently 143.05%.

About Extra Space Storage

Extra Space Storage Inc is a real estate investment trust that owns, operates, manages and develops self-storage properties in the United States. The company provides storage units for residential, business and vehicle-storage customers, with facilities offering a range of unit sizes and access options.

In addition to operating properties under the Extra Space Storage brand, the company provides third-party property management, acquisition and development services for self-storage owners.