Extra Space Storage (NYSE:EXR) Upgraded at Wall Street Zen

Wall Street Zen upgraded shares of Extra Space Storage (NYSE:EXR) from a sell rating to a hold rating in a research note issued to investors on Sunday morning.

EXR has been the subject of several other research reports. Wells Fargo & Company lifted their price target on shares of Extra Space Storage from $154.00 to $158.00 and gave the company an “overweight” rating in a research note on Friday, July 24th. Truist Financial increased their price objective on Extra Space Storage from $140.00 to $148.00 and gave the stock a “hold” rating in a research note on Wednesday, June 17th. Bank of America upgraded Extra Space Storage from an “underperform” rating to a “neutral” rating and raised their price objective for the stock from $147.00 to $156.00 in a report on Tuesday, June 16th. Barclays lifted their target price on Extra Space Storage from $170.00 to $172.00 and gave the company an “overweight” rating in a research report on Friday, July 10th. Finally, The Goldman Sachs Group reiterated a “neutral” rating and issued a $160.00 target price on shares of Extra Space Storage in a report on Thursday, July 30th. Six analysts have rated the stock with a Buy rating and ten have issued a Hold rating to the company’s stock. According to MarketBeat, Extra Space Storage currently has a consensus rating of “Hold” and a consensus price target of $147.73.

Extra Space Storage Trading Down 0.2%

EXR stock opened at $146.40 on Friday. The company has a market capitalization of $30.93 billion, a PE ratio of 32.32, a P/E/G ratio of 4.22 and a beta of 1.18. Extra Space Storage has a 12 month low of $125.71 and a 12 month high of $158.88. The firm’s 50-day moving average is $147.26 and its 200 day moving average is $143.35. The company has a debt-to-equity ratio of 0.96, a current ratio of 1.56 and a quick ratio of 1.56.

Extra Space Storage (NYSE:EXR) last announced its quarterly earnings data on Tuesday, July 28th. The real estate investment trust reported $1.25 earnings per share for the quarter, beating analysts’ consensus estimates of $1.16 by $0.09. The company had revenue of $874.15 million during the quarter, compared to analyst estimates of $874.99 million. Extra Space Storage had a net margin of 27.80% and a return on equity of 6.70%. The firm’s revenue for the quarter was up 3.9% on a year-over-year basis. During the same quarter last year, the business posted $2.05 EPS. Extra Space Storage has set its FY 2026 guidance at 8.250-8.400 EPS. On average, research analysts anticipate that Extra Space Storage will post 8.31 EPS for the current year.

Extra Space Storage Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, June 30th. Stockholders of record on Monday, June 15th were paid a dividend of $1.62 per share. The ex-dividend date was Monday, June 15th. This represents a $6.48 dividend on an annualized basis and a dividend yield of 4.4%. Extra Space Storage’s dividend payout ratio (DPR) is currently 143.05%.

Insider Transactions at Extra Space Storage

In related news, EVP Gwyn Goodson Mcneal sold 3,300 shares of the business’s stock in a transaction that occurred on Thursday, June 11th. The shares were sold at an average price of $150.00, for a total value of $495,000.00. Following the completion of the transaction, the executive vice president owned 37,374 shares of the company’s stock, valued at $5,606,100. The trade was a 8.11% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. 0.96% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. BlackRock Inc. purchased a new stake in shares of Extra Space Storage during the 2nd quarter worth $3,334,263,000. Cohen & Steers Inc. grew its stake in Extra Space Storage by 13.4% in the fourth quarter. Cohen & Steers Inc. now owns 15,979,424 shares of the real estate investment trust’s stock valued at $2,080,971,000 after purchasing an additional 1,888,763 shares during the last quarter. State Street Corp raised its holdings in Extra Space Storage by 1.7% in the third quarter. State Street Corp now owns 13,910,878 shares of the real estate investment trust’s stock worth $1,960,599,000 after purchasing an additional 230,697 shares in the last quarter. Norges Bank bought a new position in Extra Space Storage in the fourth quarter worth about $1,219,606,000. Finally, Capital International Investors lifted its position in shares of Extra Space Storage by 73.9% during the fourth quarter. Capital International Investors now owns 6,256,687 shares of the real estate investment trust’s stock valued at $814,746,000 after buying an additional 2,658,947 shares during the last quarter. 99.11% of the stock is currently owned by hedge funds and other institutional investors.

About Extra Space Storage

Extra Space Storage (NYSE: EXR) is a real estate investment trust that specializes in the ownership, development and operation of self-storage properties. The company provides storage solutions for residential and commercial customers, offering a range of unit sizes, climate-controlled units and specialized options such as vehicle and boat storage. Extra Space Storage markets itself as a customer-focused operator, with online rentals, contactless move-in options and ancillary retail products like packing supplies and insurance to support tenant needs.

Its business model combines property ownership with third-party management and development activities.