Extra Space Storage (NYSE:EXR) Stock Rating Lowered by Evercore ISI

Extra Space Storage (NYSE:EXRGet Rating) was downgraded by research analysts at Evercore ISI from an “in-line” rating to an “underperform” rating in a report issued on Monday, Marketbeat Ratings reports. They presently have a $150.00 price target on the real estate investment trust’s stock, down from their previous price target of $162.00. Evercore ISI’s target price would suggest a potential downside of 4.30% from the company’s previous close.

A number of other analysts have also recently commented on the company. Morgan Stanley reduced their price target on Extra Space Storage from $156.00 to $153.00 and set an “underweight” rating for the company in a research report on Thursday, October 13th. KeyCorp upped their price target on Extra Space Storage from $200.00 to $220.00 and gave the stock an “overweight” rating in a research report on Wednesday, August 17th. Truist Financial increased their target price on Extra Space Storage from $200.00 to $225.00 and gave the stock a “buy” rating in a research report on Monday, August 15th. Citigroup increased their target price on Extra Space Storage to $229.00 in a research report on Monday, August 22nd. Finally, UBS Group cut their target price on Extra Space Storage from $234.00 to $197.00 and set a “buy” rating for the company in a research report on Monday, July 25th. Two equities research analysts have rated the stock with a sell rating, two have issued a hold rating and five have issued a buy rating to the stock. According to data from MarketBeat, Extra Space Storage has a consensus rating of “Hold” and an average price target of $197.89.

Extra Space Storage Stock Performance

Shares of EXR opened at $156.74 on Monday. The company has a quick ratio of 0.49, a current ratio of 0.49 and a debt-to-equity ratio of 1.72. The business has a 50-day simple moving average of $167.71 and a two-hundred day simple moving average of $177.84. The stock has a market cap of $20.99 billion, a price-to-earnings ratio of 22.75, a PEG ratio of 2.32 and a beta of 0.52. Extra Space Storage has a 52 week low of $149.78 and a 52 week high of $228.84.

Hedge Funds Weigh In On Extra Space Storage

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Vanguard Group Inc. boosted its stake in Extra Space Storage by 1.8% during the first quarter. Vanguard Group Inc. now owns 22,322,540 shares of the real estate investment trust’s stock valued at $4,589,514,000 after buying an additional 388,156 shares during the last quarter. State Street Corp lifted its stake in shares of Extra Space Storage by 7.2% in the 1st quarter. State Street Corp now owns 9,119,086 shares of the real estate investment trust’s stock valued at $1,874,884,000 after purchasing an additional 612,842 shares during the last quarter. Cohen & Steers Inc. lifted its stake in shares of Extra Space Storage by 3.9% in the 1st quarter. Cohen & Steers Inc. now owns 6,023,042 shares of the real estate investment trust’s stock valued at $1,238,485,000 after purchasing an additional 227,391 shares during the last quarter. Principal Financial Group Inc. lifted its stake in shares of Extra Space Storage by 8.0% in the 2nd quarter. Principal Financial Group Inc. now owns 5,145,316 shares of the real estate investment trust’s stock valued at $875,324,000 after purchasing an additional 381,282 shares during the last quarter. Finally, Massachusetts Financial Services Co. MA lifted its stake in shares of Extra Space Storage by 0.3% in the 3rd quarter. Massachusetts Financial Services Co. MA now owns 3,648,605 shares of the real estate investment trust’s stock valued at $630,149,000 after purchasing an additional 10,610 shares during the last quarter. 95.10% of the stock is owned by institutional investors.

About Extra Space Storage

(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.

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Analyst Recommendations for Extra Space Storage (NYSE:EXR)

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