Weekly Analysts’ Ratings Changes for Extra Space Storage (EXR)

Posted by Latisha Jones on Jul 31st, 2024

A number of firms have modified their ratings and price targets on shares of Extra Space Storage (NYSE: EXR) recently:

7/26/2024 – Extra Space Storage had its price target raised by analysts at Wells Fargo & Company from $160.00 to $175.00. They now have an “overweight” rating on the stock.
7/23/2024 – Extra Space Storage had its price target raised by analysts at Raymond James from $160.00 to $175.00. They now have an “outperform” rating on the stock.
7/23/2024 – Extra Space Storage was upgraded by analysts at StockNews.com from a “sell” rating to a “hold” rating.
7/19/2024 – Extra Space Storage had its price target raised by analysts at Scotiabank from $140.00 to $159.00. They now have a “sector underperform” rating on the stock.
7/15/2024 – Extra Space Storage had its price target raised by analysts at Evercore ISI from $140.00 to $151.00. They now have an “in-line” rating on the stock.
6/7/2024 – Extra Space Storage had its price target lowered by analysts at Citigroup Inc. from $168.00 to $160.00. They now have a “neutral” rating on the stock.

Extra Space Storage Trading Down 0.5 %

NYSE EXR opened at $163.10 on Wednesday. Extra Space Storage Inc. has a fifty-two week low of $101.19 and a fifty-two week high of $171.46. The company has a debt-to-equity ratio of 0.73, a quick ratio of 0.15 and a current ratio of 0.15. The stock has a 50 day simple moving average of $154.99 and a two-hundred day simple moving average of $147.39. The stock has a market cap of $34.53 billion, a P/E ratio of 36.33, a price-to-earnings-growth ratio of 3.46 and a beta of 0.83.

Extra Space Storage Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, June 28th. Shareholders of record on Friday, June 14th were issued a $1.62 dividend. This represents a $6.48 annualized dividend and a yield of 3.97%. The ex-dividend date of this dividend was Friday, June 14th. Extra Space Storage’s dividend payout ratio (DPR) is currently 144.32%.

Insiders Place Their Bets

In other Extra Space Storage news, CEO Joseph D. Margolis sold 7,500 shares of the stock in a transaction that occurred on Monday, July 1st. The stock was sold at an average price of $152.58, for a total value of $1,144,350.00. Following the completion of the sale, the chief executive officer now owns 31,690 shares in the company, valued at approximately $4,835,260.20. The transaction was disclosed in a document filed with the SEC, which is available at this link. In other news, CEO Joseph D. Margolis sold 7,500 shares of the stock in a transaction that occurred on Monday, July 1st. The stock was sold at an average price of $152.58, for a total value of $1,144,350.00. Following the completion of the transaction, the chief executive officer now owns 31,690 shares of the company’s stock, valued at approximately $4,835,260.20. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Joseph J. Bonner sold 677 shares of the stock in a transaction that occurred on Friday, June 7th. The stock was sold at an average price of $148.22, for a total value of $100,344.94. Following the completion of the transaction, the director now directly owns 5,229 shares of the company’s stock, valued at approximately $775,042.38. The disclosure for this sale can be found here. Company insiders own 1.36% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in EXR. EdgeRock Capital LLC bought a new position in shares of Extra Space Storage in the 2nd quarter worth approximately $25,000. Creekmur Asset Management LLC bought a new position in shares of Extra Space Storage in the 4th quarter worth approximately $26,000. Centerpoint Advisors LLC bought a new position in shares of Extra Space Storage in the 2nd quarter worth approximately $27,000. Blue Trust Inc. increased its position in Extra Space Storage by 540.5% during the 2nd quarter. Blue Trust Inc. now owns 237 shares of the real estate investment trust’s stock valued at $35,000 after buying an additional 200 shares in the last quarter. Finally, Whittier Trust Co. of Nevada Inc. increased its position in Extra Space Storage by 2,760.0% during the 2nd quarter. Whittier Trust Co. of Nevada Inc. now owns 286 shares of the real estate investment trust’s stock valued at $44,000 after buying an additional 276 shares in the last quarter. Institutional investors own 99.11% of the company’s stock.

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.