Extra Space Storage (NYSE:EXR) Stock Price Target Cut by Royal Bank Of Canada

Extra Space Storage (NYSE:EXR) had its price target dropped by research analysts at Royal Bank Of Canada from $157.00 to $156.00 in a research report issued on Thursday, Benzinga reports. The firm currently has a “sector perform” rating on the real estate investment trust’s stock. Royal Bank Of Canada‘s price target would indicate a potential upside of 4.27% from the company’s current price.

Other equities analysts have also issued reports about the company. BMO Capital Markets raised Extra Space Storage from a “market perform” rating to an “outperform” rating and upped their target price for the company from $160.00 to $170.00 in a research report on Thursday, August 27th. The Goldman Sachs Group reissued a “neutral” rating and set a $160.00 price target on shares of Extra Space Storage in a research report on Thursday, July 30th. Raymond James Financial initiated coverage on shares of Extra Space Storage in a research note on Thursday, July 16th. They issued an “outperform” rating and a $44.00 price target for the company. Wall Street Zen raised shares of Extra Space Storage from a “sell” rating to a “hold” rating in a report on Sunday, August 9th. Finally, JPMorgan Chase & Co. decreased their price objective on shares of Extra Space Storage from $157.00 to $153.00 and set a “neutral” rating for the company in a report on Monday, September 21st. Eight research analysts have rated the stock with a Buy rating and eight have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $148.60.

Extra Space Storage Trading Up 3.4%

Shares of NYSE EXR traded up $4.86 during midday trading on Thursday, reaching $149.61. 672,645 shares of the stock were exchanged, compared to its average volume of 1,260,165. The stock has a 50 day moving average price of $138.44 and a 200-day moving average price of $142.25. The company has a current ratio of 1.56, a quick ratio of 1.56 and a debt-to-equity ratio of 0.96. The company has a market capitalization of $31.61 billion, a P/E ratio of 33.07, a P/E/G ratio of 4.25 and a beta of 1.15. Extra Space Storage has a 52-week low of $125.71 and a 52-week high of $158.88.

Extra Space Storage (NYSE:EXR) last released its quarterly earnings data on Tuesday, October 27th. The real estate investment trust reported $1.17 EPS for the quarter, missing analysts’ consensus estimates 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 analyst estimates of $886.61 million. During the same quarter in the previous year, the company earned $2.08 earnings per share. The company’s quarterly revenue was up 3.6% on a year-over-year basis. Equities research analysts expect that Extra Space Storage will post 8.34 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Extra Space Storage

Hedge funds and other institutional investors have recently made changes to their positions in the company. Mirae Asset Global Investments Co. Ltd. bought a new position in shares of Extra Space Storage during the 3rd quarter valued at $7,573,000. Profund Advisors LLC increased its position in Extra Space Storage by 42.1% during the third quarter. Profund Advisors LLC now owns 3,929 shares of the real estate investment trust’s stock worth $517,000 after buying an additional 1,165 shares during the last quarter. ProShare Advisors LLC raised its holdings in Extra Space Storage by 1.8% during the third quarter. ProShare Advisors LLC now owns 40,746 shares of the real estate investment trust’s stock valued at $5,359,000 after buying an additional 705 shares in the last quarter. Vise Technologies Inc. raised its holdings in Extra Space Storage by 49.8% during the third quarter. Vise Technologies Inc. now owns 3,460 shares of the real estate investment trust’s stock valued at $455,000 after buying an additional 1,150 shares in the last quarter. Finally, Aprio Wealth Management LLC lifted its position in shares of Extra Space Storage by 36.2% in the third quarter. Aprio Wealth Management LLC now owns 2,707 shares of the real estate investment trust’s stock worth $356,000 after buying an additional 719 shares during the last quarter. 99.11% of the stock is owned by hedge funds and other institutional investors.

Extra Space Storage News Summary

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

• Positive Sentiment: Core FFO and same-store performance beat expectations. Third-quarter core FFO was $2.17 per share, ahead of the $2.10 consensus and up from $2.08 a year earlier. Same-store net operating income increased 4.6%, supported by 2.7% revenue growth and a 1.8% decline in expenses. Occupancy ended the quarter at 94%. EXR’s Q3 Core FFO Improves on Strong Same-Store NOI, Outlook Raised
• Positive Sentiment: Management raised its 2026 outlook. The stronger same-store NOI trend prompted higher full-year core FFO and NOI growth expectations, improving the near-term earnings outlook for the self-storage REIT. Extra Space Storage Revises 2026 Earnings Guidance
• Positive Sentiment: Capital returns remain supportive. EXR repurchased approximately 2.4 million shares for $327.1 million during the quarter and authorized an additional $500 million buyback, while continuing to pay its $1.62 quarterly dividend. Extra Space Storage Q3 2026 Earnings
• Neutral Sentiment: Analyst views were mixed. RBC reduced its price target modestly to $156 while retaining a Sector Perform rating. Evercore ISI raised its target to $146, reflecting some improvement but limited implied upside. RBC Price Target Update
• Negative Sentiment: GAAP earnings missed expectations and valuation remains a concern. Reported EPS was $1.17 versus a $2.10 consensus, despite the FFO beat. Analysts also cited slowing long-term AFFO growth, elevated interest rates and limited pricing power as reasons EXR may remain expensive relative to its growth prospects. Extra Space Storage: Better Results, Still Not A Buy

Extra Space Storage Company Profile

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.