Extra Space Storage (EXR) Stock Forecast & Price Target

$170.10

-2.02 (-1.17%)

(As of 10/17/2024 ET)

Extra Space Storage - Analysts' Recommendations and Stock Price Forecast (2024)

MarketBeat calculates consensus analyst ratings for stocks using the most recent rating from each Wall Street analyst that has rated a stock within the last twelve months. Each analyst's rating is normalized to a standardized rating score of 1 (sell), 2 (hold), 3 (buy) or 4 (strong buy). Analyst consensus ratings scores are calculated using the mean average of the number of normalized sell, hold, buy and strong buy ratings from Wall Street analysts. Each stock's consensus analyst rating is derived from its calculated consensus ratings score (0 to .5 = Strong Sell, .5 to 1 = Sell, 1 to 1.5 = Reduce, 1.5 to 2.5 = Hold, 2.5 to 3.0 = Moderate Buy, 3.0 to 3.5 = Buy, >3.5 = Strong Buy). MarketBeat's consensus price targets are a mean average of the most recent available price targets set by each analyst that has set a price target for the stock in the last twelve months. MarketBeat's consensus ratings and consensus price targets may differ from those calculated by other firms due to differences in methodology and available data.

Consensus Rating

Hold

Based on 15 Analyst Ratings

Sell
2

Hold
6

Buy
7

Based on 15 Wall Street analysts who have issued ratings for Extra Space Storage in the last 12 months, the stock has a consensus rating of "Hold." Out of the 15 analysts, 2 have given a sell rating, 6 have given a hold rating, and 7 have given a buy rating for EXR.

Consensus Price Target

$170.80
0.41% Upside

According to the 15 analysts' twelve-month price targets for Extra Space Storage, the average price target is $170.80. The highest price target for EXR is $204.00, while the lowest price target for EXR is $141.00. The average price target represents a forecasted upside of 0.41% from the current price of $170.10.

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EXR Analyst Ratings Over Time

Type	Current Forecast 10/19/23 to 10/18/24	1 Month Ago 9/19/23 to 9/18/24	3 Months Ago 7/21/23 to 7/20/24	1 Year Ago 10/19/22 to 10/19/23
Strong Buy	0 Strong Buy rating(s)	0 Strong Buy rating(s)	0 Strong Buy rating(s)	1 Strong Buy rating(s)
Buy	7 Buy rating(s)	7 Buy rating(s)	5 Buy rating(s)	3 Buy rating(s)
Hold	6 Hold rating(s)	6 Hold rating(s)	6 Hold rating(s)	5 Hold rating(s)
Sell	2 Sell rating(s)	2 Sell rating(s)	1 Sell rating(s)	1 Sell rating(s)
Consensus Price Target	$170.80	$170.93	$155.17	$148.75
Forecasted Upside	0.41% Upside	-5.90% Downside	-5.44% Downside	32.22% Upside
Consensus Rating	Hold	Hold	Hold	Hold

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EXR Analyst Recommendations By Month

The chart below shows how a company's ratings by analysts have changed over time. Each bar represents the previous year of ratings for that month. Within each bar, the sell ratings are shown in red, the hold ratings are shown in yellow, the buy ratings are shown in green, and the strong buy ratings are shown in dark green.

EXR Price Targets by Month

The chart below shows how a company's share price and consensus price target have changed over time. The dark blue line represents the company's actual price. The lighter blue line represents the stock's consensus price target. The even lighter blue range in the background of the two lines represents the low price target and the high price target for each stock.

Extra Space Storage Stock vs. The Competition

Type	Extra Space Storage	Finance Companies	S&P 500
Consensus Rating Score	2.33	2.47	2.50
Consensus Rating	Hold	Hold	Moderate Buy
Predicted Upside	0.41% Upside	11.62% Upside	6.35% Upside
News Sentiment Rating	Positive News See Recent EXR News	Positive News	Positive News

Recent Analyst Forecasts and Stock Ratings

Rating

Upside/Downside

Action

Time Frame

Start Date

End Date

Show

Export to Excel

Date	Brokerage	Analyst Name	Action	Rating	Price Target	Upside/Downside on Report Date
10/14/2024	Evercore ISI 2 of 5 stars		Lower Target	In-Line ➝ In-Line	$170.00 ➝ $168.00	-1.49%
9/18/2024	Jefferies Financial Group 2 of 5 stars		Upgrade	Hold ➝ Buy	$162.00 ➝ $204.00	+13.95%
9/10/2024	Royal Bank of Canada 4 of 5 stars	B. Heffern Subscribe to MarketBeat All Access for the recommendation accuracy rating	Initiated Coverage	Sector Perform	$180.00	+3.01%
9/9/2024	KeyCorp Subscribe to MarketBeat All Access for the recommendation accuracy rating		Boost Target	Overweight ➝ Overweight	$172.00 ➝ $178.00	+2.55%
8/22/2024	Scotiabank Subscribe to MarketBeat All Access for the recommendation accuracy rating		Boost Target	Sector Underperform ➝ Sector Underperform	$159.00 ➝ $169.00	-2.32%
8/22/2024	Barclays Subscribe to MarketBeat All Access for the recommendation accuracy rating		Boost Target	Overweight ➝ Overweight	$158.00 ➝ $188.00	+9.34%
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8/16/2024	Truist Financial Subscribe to MarketBeat All Access for the recommendation accuracy rating		Boost Target	Hold ➝ Hold	$152.00 ➝ $167.00	+0.46%
8/5/2024	Bank of America Subscribe to MarketBeat All Access for the recommendation accuracy rating		Downgrade	Neutral ➝ Underperform	$172.00 ➝ $155.00	-6.03%
7/26/2024	Wells Fargo & Company Subscribe to MarketBeat All Access for the recommendation accuracy rating		Boost Target	Overweight ➝ Overweight	$160.00 ➝ $175.00	+8.91%
7/23/2024	Raymond James Subscribe to MarketBeat All Access for the recommendation accuracy rating		Boost Target	Outperform ➝ Outperform	$160.00 ➝ $175.00	+5.41%
6/7/2024	Citigroup Subscribe to MarketBeat All Access for the recommendation accuracy rating		Lower Target	Neutral ➝ Neutral	$168.00 ➝ $160.00	+7.75%
1/30/2024	Deutsche Bank Aktiengesellschaft Subscribe to MarketBeat All Access for the recommendation accuracy rating		Initiated Coverage	Hold	$141.00	-4.76%
1/11/2024	The Goldman Sachs Group Subscribe to MarketBeat All Access for the recommendation accuracy rating		Boost Target	Buy ➝ Buy	$168.00 ➝ $187.00	+19.23%
12/21/2023	Morgan Stanley Subscribe to MarketBeat All Access for the recommendation accuracy rating		Upgrade	Underweight ➝ Equal Weight	$115.00 ➝ $150.00	-1.45%
11/8/2023	Stifel Nicolaus Subscribe to MarketBeat All Access for the recommendation accuracy rating		Lower Target	Buy ➝ Buy	$185.00 ➝ $165.00	+39.21%
1/18/2023	Wolfe Research Subscribe to MarketBeat All Access for the recommendation accuracy rating		Downgrade	Outperform ➝ Peer Perform
12/16/2022	JPMorgan Chase & Co. Subscribe to MarketBeat All Access for the recommendation accuracy rating	Michael Mueller Subscribe to MarketBeat All Access for the recommendation accuracy rating	Downgrade	Overweight ➝ Neutral	$177.00 ➝ $167.00	+7.31%

Analyst ratings data on MarketBeat is provided by Benzinga and other data providers. This page was last refreshed on Friday at 06:18 AM ET.

Should I Buy Extra Space Storage Stock? EXR Pros and Cons Explained

These pros and cons were generated based on recent news and financial data from MarketBeat in order to provide readers with the fastest and most accurate insights. They were last updated on Sunday, October 13, 2024. Please send any questions or comments about these Extra Space Storage pros and cons to contact@marketbeat.com.

Extra Space Storage
Bull Case

Here are some ways that investors could benefit from investing in Extra Space Storage Inc.:

Extra Space Storage Inc. has a consistent track record of increasing dividends, providing investors with a reliable income stream. This can be appealing for income-oriented investors looking for steady returns.
With a dividend yield of 3.82%, Extra Space Storage Inc. offers a competitive dividend payout compared to other investment options, potentially attracting dividend-focused investors.
Analysts have given Extra Space Storage Inc. a consensus rating of "Hold" with an average price target of $170.93, indicating potential for growth and stability in the stock price.
Recent insider activity shows that company executives have been selling shares, which could be seen as a positive sign as they may believe the stock is currently overvalued and are taking profits.
Extra Space Storage Inc. has a market capitalization of $35.88 billion, indicating the company's size and stability in the market, which can provide a sense of security for investors.

Extra Space Storage
Bear Case

Investors should be bearish about investing in Extra Space Storage Inc. for these reasons:

Extra Space Storage Inc. has a P/E ratio of 37.88, which may indicate that the stock is currently trading at a higher valuation compared to its earnings, potentially making it less attractive to value investors.
The company's debt-to-equity ratio of 0.76 may raise concerns about its financial leverage and ability to manage debt obligations, which could pose risks for investors, especially during economic downturns.
While Extra Space Storage Inc. has seen insider selling activity, which could be interpreted positively, the total insider sales of 18,970 shares worth $3,172,757 over the last ninety days may raise questions about executive confidence in the company's future performance.
The stock price of Extra Space Storage Inc. has reached a 12-month high of $184.87, potentially signaling a peak in the stock's performance and limited room for further price appreciation in the near term.
Extra Space Storage Inc. has a beta of 0.86, indicating that the stock's price movements are less volatile compared to the overall market, which may limit potential returns for investors seeking higher-risk investments.

EXR Forecast - Frequently Asked Questions

: According to the research reports of 15 Wall Street equities research analysts, the average twelve-month stock price forecast for Extra Space Storage is $170.80, with a high forecast of $204.00 and a low forecast of $141.00.
: 15 Wall Street analysts have issued "buy," "hold," and "sell" ratings for Extra Space Storage in the last twelve months. There are currently 2 sell ratings, 6 hold ratings and 7 buy ratings for the stock. The consensus among Wall Street analysts is that investors should "hold" EXR shares. A hold rating indicates that analysts believe investors should maintain any existing positions they have in EXR, but not buy additional shares or sell existing shares.
: According to analysts, Extra Space Storage's stock has a predicted upside of 0.41% based on their 12-month stock forecasts.
: Over the previous 90 days, Extra Space Storage's stock had 1 upgrade and 1 downgrade by analysts.
: Extra Space Storage has been rated by research analysts at Bank of America, Barclays, Evercore ISI, Jefferies Financial Group, KeyCorp, Raymond James, Royal Bank of Canada, Scotiabank, Truist Financial, and Wells Fargo & Company in the past 90 days.
: Analysts like Extra Space Storage less than other "finance" companies. The consensus rating score for Extra Space Storage is 2.33 while the average consensus rating score for "finance" companies is 2.47. Learn more on how EXR compares to other companies.