Extra Space Storage (NYSE:EXR) Given New $170.00 Price Target at Evercore ISI

Extra Space Storage (NYSE:EXR) had its price objective upped by Evercore ISI from $167.00 to $170.00 in a report issued on Monday morning, Benzinga reports. They currently have an in-line rating on the real estate investment trust’s stock.

EXR has been the subject of several other reports. Truist Financial boosted their target price on Extra Space Storage from $152.00 to $167.00 and gave the company a hold rating in a report on Friday, August 16th. Citigroup lowered their target price on shares of Extra Space Storage from $168.00 to $160.00 and set a neutral rating on the stock in a research report on Friday, June 7th. KeyCorp upped their price target on shares of Extra Space Storage from $172.00 to $178.00 and gave the company an overweight rating in a research report on Monday, September 9th. Barclays raised their price objective on shares of Extra Space Storage from $158.00 to $188.00 and gave the stock an overweight rating in a research report on Thursday, August 22nd. Finally, Royal Bank of Canada started coverage on shares of Extra Space Storage in a report on Tuesday, September 10th. They issued a sector perform rating and a $180.00 target price for the company. Two equities research analysts have rated the stock with a sell rating, seven have given a hold rating and seven have given a buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of Hold and a consensus target price of $170.93.

Extra Space Storage Trading Down 0.9 %

EXR opened at $180.09 on Monday. The business has a fifty day moving average price of $169.66 and a 200 day moving average price of $154.46. The company has a debt-to-equity ratio of 0.76, a current ratio of 0.20 and a quick ratio of 0.20. Extra Space Storage has a 12 month low of $101.19 and a 12 month high of $184.87. The stock has a market capitalization of $38.13 billion, a price-to-earnings ratio of 40.11, a PEG ratio of 2.56 and a beta of 0.86.

Extra Space Storage Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, September 30th. Shareholders of record on Monday, September 16th will be paid a $1.62 dividend. This represents a $6.48 dividend on an annualized basis and a yield of 3.60%. The ex-dividend date of this dividend is Monday, September 16th. Extra Space Storage’s dividend payout ratio (DPR) is presently 144.32%.

Insiders Place Their Bets

In other Extra Space Storage news, Director Kenneth M. Woolley sold 6,647 shares of the company’s stock in a transaction that occurred on Friday, September 13th. The stock was sold at an average price of $177.23, for a total transaction of $1,178,047.81. Following the completion of the sale, the director now owns 404,306 shares of the company’s stock, valued at $71,655,152.38. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In other Extra Space Storage news, CEO Joseph D. Margolis sold 7,500 shares of Extra Space Storage stock in a transaction on Monday, July 1st. The stock was sold at an average price of $152.58, for a total transaction of $1,144,350.00. Following the completion of the transaction, the chief executive officer now directly owns 31,690 shares of the company’s stock, valued at $4,835,260.20. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Kenneth M. Woolley sold 6,647 shares of Extra Space Storage stock in a transaction on Friday, September 13th. The shares were sold at an average price of $177.23, for a total value of $1,178,047.81. Following the completion of the transaction, the director now owns 404,306 shares of the company’s stock, valued at approximately $71,655,152.38. The disclosure for this sale can be found here. Insiders have sold 18,970 shares of company stock valued at $3,172,757 over the last three months. 1.36% of the stock is currently owned by insiders.

Institutional Trading of Extra Space Storage

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Vanguard Group Inc. raised its position in shares of Extra Space Storage by 0.5% in the 1st quarter. Vanguard Group Inc. now owns 33,686,389 shares of the real estate investment trust’s stock valued at $4,951,899,000 after acquiring an additional 170,380 shares during the period. Massachusetts Financial Services Co. MA raised its holdings in Extra Space Storage by 4.7% in the second quarter. Massachusetts Financial Services Co. MA now owns 3,549,231 shares of the real estate investment trust’s stock worth $551,586,000 after purchasing an additional 157,763 shares during the period. Dimensional Fund Advisors LP boosted its position in shares of Extra Space Storage by 1.5% during the second quarter. Dimensional Fund Advisors LP now owns 3,127,012 shares of the real estate investment trust’s stock worth $485,973,000 after purchasing an additional 45,717 shares in the last quarter. Diamond Hill Capital Management Inc. grew its holdings in shares of Extra Space Storage by 7.2% in the 2nd quarter. Diamond Hill Capital Management Inc. now owns 2,965,638 shares of the real estate investment trust’s stock valued at $460,890,000 after buying an additional 198,888 shares during the period. Finally, Centersquare Investment Management LLC increased its position in shares of Extra Space Storage by 1.3% in the 1st quarter. Centersquare Investment Management LLC now owns 2,546,475 shares of the real estate investment trust’s stock valued at $341,941,000 after buying an additional 32,591 shares in the last quarter. 99.11% of the stock is owned by institutional investors.

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 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.