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

Shares of Extra Space Storage Inc. (NYSE:EXR - Get Free Report) have received a consensus recommendation of "Hold" from the eleven research firms that are presently covering the company, MarketBeat reports. One research 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 12 month price objective among analysts that have issued a report on the stock in the last year is $174.00.

Several brokerages have recently weighed in on EXR. StockNews.com raised Extra Space Storage from a "sell" rating to a "hold" rating in a research note on Tuesday, January 28th. Evercore ISI decreased their price target on Extra Space Storage from $170.00 to $168.00 and set an "in-line" rating for the company in a research note on Monday, October 14th. Barclays decreased their price target on Extra Space Storage from $192.00 to $184.00 and set an "overweight" rating for the company in a research note on Monday, January 13th. Scotiabank raised Extra Space Storage from a "sector underperform" rating to a "sector perform" rating and set a $167.00 target price for the company in a research note on Friday, January 10th. Finally, Truist Financial raised their target price on Extra Space Storage from $167.00 to $168.00 and gave the stock a "hold" rating in a research note on Thursday, December 5th.

Extra Space Storage Trading Up 0.6 %

Shares of EXR stock traded up $0.89 on Friday, hitting $157.45. The company had a trading volume of 942,715 shares, compared to its average volume of 1,278,138. The firm has a market cap of $33.38 billion, a P/E ratio of 41.22, a P/E/G ratio of 7.77 and a beta of 0.91. The stock's 50-day moving average is $152.80 and its two-hundred day moving average is $164.17. The company has a debt-to-equity ratio of 0.77, a quick ratio of 0.23 and a current ratio of 0.23. Extra Space Storage has a twelve month low of $131.02 and a twelve month high of $184.87.

Extra Space Storage Announces Dividend

The company also recently disclosed 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 4.12%. Extra Space Storage's dividend payout ratio (DPR) is presently 169.63%.

Insider Buying and Selling at Extra Space Storage

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

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of EXR. Pathway Financial Advisers LLC boosted its position in Extra Space Storage by 17,832.9% in the third quarter. Pathway Financial Advisers LLC now owns 2,018,884 shares of the real estate investment trust's stock worth $363,783,000 after purchasing an additional 2,007,626 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its stake in shares of Extra Space Storage by 724.1% in the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,981,799 shares of the real estate investment trust's stock valued at $357,100,000 after buying an additional 1,741,320 shares during the period. Manning & Napier Advisors LLC raised its stake in shares of Extra Space Storage by 1,127.2% in the fourth quarter. Manning & Napier Advisors LLC now owns 781,986 shares of the real estate investment trust's stock valued at $116,985,000 after buying an additional 718,266 shares during the period. Cbre Investment Management Listed Real Assets LLC raised its stake in shares of Extra Space Storage by 91.2% in the fourth quarter. Cbre Investment Management Listed Real Assets LLC now owns 1,089,753 shares of the real estate investment trust's stock valued at $163,027,000 after buying an additional 519,934 shares during the period. Finally, Amundi raised its stake in shares of Extra Space Storage by 82.0% in the fourth quarter. Amundi now owns 828,644 shares of the real estate investment trust's stock valued at $122,649,000 after buying an additional 373,274 shares during the period. Hedge funds and other institutional investors own 99.11% of the company's stock.

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.