Extra Space Storage Inc. (NYSE:EXR) Receives Average Recommendation of "Hold" from Analysts

Shares of Extra Space Storage Inc. (NYSE:EXR - Get Free Report) have been given an average recommendation of "Hold" by the fifteen research firms that are covering the company, Marketbeat Ratings reports. Two analysts have rated the stock with a sell rating, seven have issued a hold rating and six have issued a buy rating on the company. The average twelve-month price objective among analysts that have updated their coverage on the stock in the last year is $171.07.

A number of equities research analysts recently issued reports on EXR shares. Raymond James upped their price target on shares of Extra Space Storage from $160.00 to $175.00 and gave the company an "outperform" rating in a research note on Tuesday, July 23rd. Barclays lifted their price target on Extra Space Storage from $188.00 to $192.00 and gave the stock an "overweight" rating in a research report on Monday. Bank of America downgraded Extra Space Storage from a "neutral" rating to an "underperform" rating and decreased their price objective for the company from $172.00 to $155.00 in a research report on Monday, August 5th. StockNews.com raised Extra Space Storage from a "sell" rating to a "hold" rating in a research report on Tuesday, July 23rd. Finally, Scotiabank increased their price target on Extra Space Storage from $159.00 to $169.00 and gave the company a "sector underperform" rating in a report on Thursday, August 22nd.

Extra Space Storage Price Performance

NYSE:EXR traded down $1.44 during trading hours on Thursday, reaching $163.30. The stock had a trading volume of 1,332,185 shares, compared to its average volume of 1,040,322. The stock has a market capitalization of $34.57 billion, a PE ratio of 36.42, a PEG ratio of 6.25 and a beta of 0.86. Extra Space Storage has a 52 week low of $101.19 and a 52 week high of $184.87. The company has a 50 day moving average price of $174.33 and a two-hundred day moving average price of $160.18. The company has a debt-to-equity ratio of 0.76, a quick ratio of 0.20 and a current ratio of 0.20.

Extra Space Storage Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, September 30th. Shareholders of record on Monday, September 16th were given a dividend of $1.62 per share. This represents a $6.48 annualized dividend and a yield of 3.97%. The ex-dividend date of this dividend was Monday, September 16th. Extra Space Storage's dividend payout ratio is currently 144.32%.

Insider Buying and Selling at Extra Space Storage

In other Extra Space Storage news, EVP William N. Springer sold 2,000 shares of the company's stock in a transaction that occurred on Wednesday, August 28th. The stock was sold at an average price of $175.33, for a total value of $350,660.00. Following the sale, the executive vice president now owns 11,919 shares in the company, valued at approximately $2,089,758.27. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. In other news, CEO Joseph D. Margolis sold 7,500 shares of the company's stock in a transaction on Tuesday, October 1st. The shares were sold at an average price of $178.52, for a total transaction of $1,338,900.00. Following the completion of the sale, the chief executive officer now owns 24,190 shares of the company's stock, valued at $4,318,398.80. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP William N. Springer sold 2,000 shares of the business's stock in a transaction dated Wednesday, August 28th. The stock was sold at an average price of $175.33, for a total transaction of $350,660.00. Following the transaction, the executive vice president now owns 11,919 shares in the company, valued at $2,089,758.27. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 18,970 shares of company stock worth $3,367,307. Insiders own 1.36% of the company's stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the company. Graypoint LLC increased its position in shares of Extra Space Storage by 4.3% during the 3rd quarter. Graypoint LLC now owns 1,575 shares of the real estate investment trust's stock worth $284,000 after purchasing an additional 65 shares during the last quarter. Hummer Financial Advisory Services Inc boosted its stake in Extra Space Storage by 1.2% during the third quarter. Hummer Financial Advisory Services Inc now owns 5,920 shares of the real estate investment trust's stock worth $1,067,000 after buying an additional 70 shares during the period. Buckley Wealth Management LLC increased its position in shares of Extra Space Storage by 1.9% during the third quarter. Buckley Wealth Management LLC now owns 3,811 shares of the real estate investment trust's stock valued at $687,000 after acquiring an additional 71 shares during the last quarter. Massmutual Trust Co. FSB ADV raised its stake in shares of Extra Space Storage by 19.7% in the 2nd quarter. Massmutual Trust Co. FSB ADV now owns 461 shares of the real estate investment trust's stock valued at $72,000 after acquiring an additional 76 shares during the period. Finally, Bleakley Financial Group LLC lifted its holdings in shares of Extra Space Storage by 4.1% in the 3rd quarter. Bleakley Financial Group LLC now owns 1,973 shares of the real estate investment trust's stock worth $356,000 after acquiring an additional 77 shares during the last quarter. Institutional investors and hedge funds 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.