Raymond James Financial upgraded shares of Extra Space Storage (NYSE:EXR – Free Report) to a moderate buy rating in a research note issued to investors on Wednesday,Zacks.com reports.
A number of other research analysts also recently weighed in on the company. UBS Group raised their price target on Extra Space Storage from $158.00 to $163.00 and gave the company a “buy” rating in a research note on Friday, July 10th. JPMorgan Chase & Co. upped their price objective on Extra Space Storage from $142.00 to $144.00 and gave the stock a “neutral” rating in a research note on Monday, March 23rd. Bank of America raised Extra Space Storage from an “underperform” rating to a “neutral” rating and increased their price objective for the company from $147.00 to $156.00 in a report on Tuesday, June 16th. Weiss Ratings reissued a “hold (c)” rating on shares of Extra Space Storage in a research note on Tuesday, April 21st. Finally, Truist Financial boosted their target price on shares of Extra Space Storage from $140.00 to $148.00 and gave the stock a “hold” rating in a report on Wednesday, June 17th. Six equities research analysts have rated the stock with a Buy rating and ten have given a Hold rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $146.27.
View Our Latest Stock Analysis on Extra Space Storage
Extra Space Storage Trading Up 3.8%
Extra Space Storage (NYSE:EXR – Get Free Report) last announced its quarterly earnings data on Tuesday, April 28th. The real estate investment trust reported $1.14 earnings per share for the quarter, missing the consensus estimate of $2.01 by ($0.87). The company had revenue of $856.03 million during the quarter, compared to the consensus estimate of $851.35 million. Extra Space Storage had a net margin of 27.66% and a return on equity of 6.65%. Extra Space Storage’s revenue was up 4.4% on a year-over-year basis. During the same quarter in the previous year, the business earned $2.00 EPS. Extra Space Storage has set its FY 2026 guidance at 8.050-8.350 EPS. On average, equities analysts expect that Extra Space Storage will post 8.26 earnings per share for the current fiscal year.
Extra Space Storage Announces Dividend
The firm also recently declared a quarterly dividend, which was paid on Tuesday, June 30th. Investors of record on Monday, June 15th were issued a dividend of $1.62 per share. The ex-dividend date was Monday, June 15th. This represents a $6.48 dividend on an annualized basis and a yield of 4.3%. Extra Space Storage’s dividend payout ratio (DPR) is presently 145.29%.
Insiders Place Their Bets
In other Extra Space Storage news, EVP Gwyn Goodson Mcneal sold 3,300 shares of the company’s stock in a transaction that occurred on Thursday, June 11th. The stock was sold at an average price of $150.00, for a total value of $495,000.00. Following the sale, the executive vice president owned 37,374 shares in the company, valued at $5,606,100. This represents a 8.11% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 0.96% of the stock is currently owned by company insiders.
Institutional Inflows and Outflows
Several hedge funds and other institutional investors have recently made changes to their positions in the business. Tema ETFs LLC lifted its holdings in Extra Space Storage by 7.5% during the 2nd quarter. Tema ETFs LLC now owns 4,146 shares of the real estate investment trust’s stock valued at $602,000 after purchasing an additional 290 shares during the last quarter. Handelsbanken Fonder AB lifted its stake in shares of Extra Space Storage by 23.2% during the 2nd quarter. Handelsbanken Fonder AB now owns 116,768 shares of the real estate investment trust’s stock worth $16,966,000 after buying an additional 21,987 shares during the last quarter. Fulton Bank N.A. bought a new position in Extra Space Storage in the 2nd quarter valued at about $234,000. Revolve Wealth Partners LLC bought a new stake in shares of Extra Space Storage during the second quarter worth approximately $359,000. Finally, Czech National Bank increased its stake in shares of Extra Space Storage by 4.0% during the second quarter. Czech National Bank now owns 60,133 shares of the real estate investment trust’s stock worth $8,737,000 after purchasing an additional 2,328 shares during the period. 99.11% of the stock is currently owned by institutional investors.
Extra Space Storage Company Profile
Extra Space Storage (NYSE: EXR) is a real estate investment trust that specializes in the ownership, development and operation of self-storage properties. The company provides storage solutions for residential and commercial customers, offering a range of unit sizes, climate-controlled units and specialized options such as vehicle and boat storage. Extra Space Storage markets itself as a customer-focused operator, with online rentals, contactless move-in options and ancillary retail products like packing supplies and insurance to support tenant needs.
Its business model combines property ownership with third-party management and development activities.
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