Extra Space Storage (NYSE:EXR) Now Covered by Mizuho

Research analysts at Mizuho assumed coverage on shares of Extra Space Storage (NYSE:EXR - Get Free Report) in a research report issued to clients and investors on Wednesday,Benzinga reports. The firm set an "outperform" rating and a $141.00 price target on the real estate investment trust's stock. Mizuho's price target would indicate a potential upside of 3.23% from the company's current price.

A number of other equities research analysts have also weighed in on EXR. Scotiabank upgraded shares of Extra Space Storage from a "sector perform" rating to a "sector outperform" rating and lowered their price objective for the stock from $165.00 to $149.00 in a report on Wednesday, April 9th. Royal Bank of Canada reduced their price objective on Extra Space Storage from $167.00 to $163.00 and set a "sector perform" rating on the stock in a research note on Thursday, February 27th. Barclays lowered their target price on Extra Space Storage from $184.00 to $181.00 and set an "overweight" rating for the company in a research note on Wednesday, March 12th. StockNews.com lowered Extra Space Storage from a "hold" rating to a "sell" rating in a research report on Friday, March 7th. Finally, Wells Fargo & Company lowered their price objective on Extra Space Storage from $170.00 to $165.00 and set an "equal weight" rating for the company in a research report on Friday, February 21st. Two analysts have rated the stock with a sell rating, five have assigned a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat, the company presently has a consensus rating of "Hold" and a consensus target price of $167.25.

Extra Space Storage Price Performance

NYSE:EXR traded up $2.72 during midday trading on Wednesday, hitting $136.59. The company had a trading volume of 296,034 shares, compared to its average volume of 1,068,921. The company has a market capitalization of $28.99 billion, a PE ratio of 35.76, a P/E/G ratio of 7.76 and a beta of 0.96. The company has a quick ratio of 0.23, a current ratio of 0.23 and a debt-to-equity ratio of 0.77. Extra Space Storage has a 52-week low of $121.03 and a 52-week high of $184.87. The stock's fifty day moving average price is $148.62 and its 200-day moving average price is $156.48.

Extra Space Storage (NYSE:EXR - Get Free Report) last posted its quarterly earnings data on Tuesday, February 25th. The real estate investment trust reported $2.03 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.10 by $0.93. The firm had revenue of $821.90 million during the quarter, compared to analysts' expectations of $707.34 million. Extra Space Storage had a return on equity of 5.51% and a net margin of 25.35%. As a group, research analysts expect that Extra Space Storage will post 8.1 earnings per share for the current year.

Insider Activity at Extra Space Storage

In other Extra Space Storage news, EVP William N. Springer sold 1,220 shares of Extra Space Storage stock in a transaction dated Friday, February 28th. The shares were sold at an average price of $152.66, for a total value of $186,245.20. Following the completion of the transaction, the executive vice president now directly owns 20,158 shares of the company's stock, valued at approximately $3,077,320.28. The trade was a 5.71 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Joseph J. Bonner sold 672 shares of the company's stock in a transaction that occurred on Thursday, March 13th. The shares were sold at an average price of $149.10, for a total value of $100,195.20. Following the completion of the transaction, the director now directly owns 4,557 shares in the company, valued at $679,448.70. This trade represents a 12.85 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 9,392 shares of company stock valued at $1,392,315 in the last 90 days. Corporate insiders own 1.36% of the company's stock.

Hedge Funds Weigh In On Extra Space Storage

A number of hedge funds have recently bought and sold shares of the business. Cohen & Steers Inc. boosted its holdings in shares of Extra Space Storage by 5.9% during the 4th quarter. Cohen & Steers Inc. now owns 9,246,133 shares of the real estate investment trust's stock valued at $1,383,094,000 after acquiring an additional 516,941 shares during the last quarter. Norges Bank purchased a new position in shares of Extra Space Storage in the 4th quarter worth $938,647,000. Dimensional Fund Advisors LP boosted its position in Extra Space Storage by 0.8% in the fourth quarter. Dimensional Fund Advisors LP now owns 3,136,640 shares of the real estate investment trust's stock worth $469,229,000 after purchasing an additional 24,533 shares during the last quarter. Massachusetts Financial Services Co. MA grew its position in Extra Space Storage by 3.5% during the fourth quarter. Massachusetts Financial Services Co. MA now owns 3,064,970 shares of the real estate investment trust's stock valued at $458,520,000 after buying an additional 104,986 shares during the period. Finally, Northern Trust Corp grew its position in shares of Extra Space Storage by 48.7% during the 4th quarter. Northern Trust Corp now owns 2,875,049 shares of the real estate investment trust's stock valued at $430,107,000 after acquiring an additional 941,212 shares during the period. Hedge funds and other institutional investors own 99.11% of the company's stock.

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.