Extra Space Storage (NYSE:EXR) Price Target Cut to $145.00

Extra Space Storage (NYSE:EXR) had its target price decreased by Evercore ISI from $147.00 to $145.00 in a research report report published on Friday morning, MarketBeat reports. Evercore ISI currently has an in-line rating on the real estate investment trust’s stock.

A number of other research analysts have also recently commented on EXR. StockNews.com cut shares of Extra Space Storage from a hold rating to a sell rating in a report on Friday, August 25th. Raymond James cut their target price on shares of Extra Space Storage from $185.00 to $165.00 and set a strong-buy rating on the stock in a research report on Thursday, August 31st. Citigroup decreased their target price on shares of Extra Space Storage from $160.00 to $135.00 and set a neutral rating on the stock in a research note on Wednesday, September 13th. Finally, Truist Financial decreased their target price on shares of Extra Space Storage from $155.00 to $138.00 and set a hold rating on the stock in a research note on Tuesday, August 29th. Two research analysts have rated the stock with a sell rating, five have given a hold rating, two have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of Hold and an average price target of $152.43.

Extra Space Storage Price Performance

Shares of EXR stock opened at $126.65 on Friday. The business has a fifty day simple moving average of $134.63 and a 200 day simple moving average of $146.01. The company has a market cap of $26.76 billion, a P/E ratio of 20.66, a P/E/G ratio of 12.44 and a beta of 0.56. The company has a quick ratio of 0.24, a current ratio of 0.24 and a debt-to-equity ratio of 1.86. Extra Space Storage has a twelve month low of $123.67 and a twelve month high of $183.49.

Extra Space Storage Cuts Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, September 29th. Investors of record on Friday, September 15th will be paid a $0.61 dividend. The ex-dividend date is Thursday, September 14th. This represents a $2.44 annualized dividend and a dividend yield of 1.93%. Extra Space Storage’s dividend payout ratio is 39.80%.

Insider Buying and Selling

In related news, Director Joseph J. Bonner sold 956 shares of the business’s stock in a transaction on Wednesday, September 6th. The shares were sold at an average price of $125.64, for a total value of $120,111.84. Following the sale, the director now owns 4,504 shares of the company’s stock, valued at $565,882.56. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. 1.55% of the stock is currently owned by insiders.

Institutional Trading of Extra Space Storage

Several institutional investors have recently modified their holdings of the business. Securian Asset Management Inc. lifted its holdings in Extra Space Storage by 1.1% in the first quarter. Securian Asset Management Inc. now owns 11,201 shares of the real estate investment trust’s stock valued at $1,825,000 after buying an additional 124 shares during the period. Oak Thistle LLC acquired a new position in Extra Space Storage in the first quarter valued at $362,000. Capital Analysts LLC lifted its holdings in Extra Space Storage by 1,255.1% in the first quarter. Capital Analysts LLC now owns 2,263 shares of the real estate investment trust’s stock valued at $369,000 after buying an additional 2,096 shares during the period. Credit Suisse AG lifted its holdings in Extra Space Storage by 7.1% in the fourth quarter. Credit Suisse AG now owns 230,286 shares of the real estate investment trust’s stock valued at $33,893,000 after buying an additional 15,327 shares during the period. Finally, Mitsubishi UFJ Kokusai Asset Management Co. Ltd. lifted its holdings in Extra Space Storage by 8.4% in the first quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. now owns 176,342 shares of the real estate investment trust’s stock valued at $28,731,000 after buying an additional 13,690 shares during the period. Institutional investors own 66.40% 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 June 30, 2023, the Company owned and/or operated 2,438 self-storage stores in 41 states and Washington, DC The Company's stores comprise approximately 1.7 million units and approximately 184.0 million square feet of rentable space.