Extra Space Storage Inc. (NYSE:EXR) Given Consensus Rating of “Hold” by Brokerages

Extra Space Storage Inc. (NYSE:EXRGet Rating) has been assigned a consensus recommendation of “Hold” from the fourteen analysts that are presently covering the company, MarketBeat reports. One equities research analyst has rated the stock with a sell rating, six have given a hold rating and seven have assigned a buy rating to the company. The average 12-month price objective among brokerages that have issued ratings on the stock in the last year is $205.25.

EXR has been the subject of a number of research analyst reports. JPMorgan Chase & Co. boosted their price objective on Extra Space Storage from $220.00 to $224.00 and gave the stock a “neutral” rating in a report on Monday, April 4th. StockNews.com upgraded Extra Space Storage from a “hold” rating to a “buy” rating in a research report on Monday, May 9th. Morgan Stanley reduced their target price on shares of Extra Space Storage from $172.00 to $156.00 and set an “underweight” rating for the company in a research report on Wednesday, May 25th. Finally, Truist Financial lowered their price target on shares of Extra Space Storage from $225.00 to $200.00 and set a “buy” rating on the stock in a research report on Wednesday, June 1st.

Shares of Extra Space Storage stock opened at $172.11 on Thursday. The company has a debt-to-equity ratio of 1.55, a current ratio of 0.53 and a quick ratio of 0.53. The business has a fifty day simple moving average of $192.69 and a two-hundred day simple moving average of $199.04. Extra Space Storage has a 1 year low of $157.46 and a 1 year high of $228.84. The company has a market capitalization of $23.11 billion, a price-to-earnings ratio of 27.94, a P/E/G ratio of 2.77 and a beta of 0.46.

Extra Space Storage (NYSE:EXRGet Rating) last posted its earnings results on Tuesday, May 3rd. The real estate investment trust reported $1.51 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.86 by ($0.35). Extra Space Storage had a return on equity of 23.42% and a net margin of 50.76%. The company had revenue of $379.81 million for the quarter, compared to analyst estimates of $368.88 million. During the same quarter in the prior year, the business posted $1.50 EPS. The business’s quarterly revenue was up 25.1% compared to the same quarter last year. As a group, equities analysts anticipate that Extra Space Storage will post 8.24 earnings per share for the current fiscal year.

The firm also recently declared a quarterly dividend, which will be paid on Thursday, June 30th. Stockholders of record on Wednesday, June 15th will be paid a $1.50 dividend. The ex-dividend date of this dividend is Tuesday, June 14th. This represents a $6.00 annualized dividend and a dividend yield of 3.49%. Extra Space Storage’s payout ratio is 97.40%.

In related news, CEO Joseph D. Margolis sold 5,000 shares of the firm’s stock in a transaction dated Friday, April 1st. The stock was sold at an average price of $208.34, for a total value of $1,041,700.00. Following the sale, the chief executive officer now directly owns 62,035 shares of the company’s stock, valued at $12,924,371.90. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. 1.52% of the stock is currently owned by insiders.

A number of institutional investors have recently modified their holdings of the business. Eaton Vance Management boosted its holdings in shares of Extra Space Storage by 27.7% during the 4th quarter. Eaton Vance Management now owns 14,241 shares of the real estate investment trust’s stock valued at $2,745,000 after acquiring an additional 3,088 shares in the last quarter. HighTower Advisors LLC grew its holdings in shares of Extra Space Storage by 119.9% during the fourth quarter. HighTower Advisors LLC now owns 14,035 shares of the real estate investment trust’s stock worth $3,177,000 after purchasing an additional 7,654 shares during the last quarter. Trek Financial LLC acquired a new position in shares of Extra Space Storage in the fourth quarter valued at approximately $357,000. Amussen Hunsaker Associates LLC bought a new position in Extra Space Storage in the 4th quarter valued at approximately $263,000. Finally, Point72 Hong Kong Ltd acquired a new stake in Extra Space Storage during the 3rd quarter worth approximately $1,863,000. Hedge funds and other institutional investors own 95.44% of the company’s stock.

Extra Space Storage Company Profile (Get Rating)

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 September 30, 2020, the Company owned and/or operated 1,906 self-storage stores in 40 states, Washington, DC and Puerto Rico. The Company's stores comprise approximately 1.4 million units and approximately 147.5 million square feet of rentable space.

Featured Stories

Analyst Recommendations for Extra Space Storage (NYSE:EXR)

Want More Great Investing Ideas?

Receive News & Ratings for Extra Space Storage Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Extra Space Storage and related companies with MarketBeat.com's FREE daily email newsletter.