Extra Space Storage (NYSE:EXR) Given New $167.00 Price Target at Truist Financial

Extra Space Storage (NYSE:EXR) had its price target lifted by Truist Financial from $152.00 to $167.00 in a research note issued to investors on Friday, Benzinga reports. They currently have a hold rating on the real estate investment trust’s stock.

A number of other research firms also recently weighed in on EXR. Evercore ISI lifted their price target on shares of Extra Space Storage from $140.00 to $151.00 and gave the company an in-line rating in a research report on Monday, July 15th. StockNews.com upgraded Extra Space Storage from a sell rating to a hold rating in a research note on Tuesday, July 23rd. Bank of America lowered Extra Space Storage from a neutral rating to an underperform rating and reduced their target price for the stock from $172.00 to $155.00 in a report on Monday, August 5th. Wells Fargo & Company boosted their price target on Extra Space Storage from $160.00 to $175.00 and gave the company an overweight rating in a research note on Friday, July 26th. Finally, Barclays upped their price objective on shares of Extra Space Storage from $157.00 to $158.00 and gave the stock an overweight rating in a research report on Monday, May 20th. Two research analysts have rated the stock with a sell rating, six have given a hold rating and five have issued a buy rating to the company’s stock. According to data from MarketBeat, Extra Space Storage currently has a consensus rating of Hold and an average price target of $161.92.

Extra Space Storage Trading Up 1.2 %

EXR stock opened at $169.23 on Friday. Extra Space Storage has a 52 week low of $101.19 and a 52 week high of $171.46. The company has a debt-to-equity ratio of 0.76, a quick ratio of 0.15 and a current ratio of 0.20. The company’s 50-day simple moving average is $160.30 and its 200 day simple moving average is $148.99. The company has a market capitalization of $35.83 billion, a PE ratio of 37.69, a price-to-earnings-growth ratio of 3.37 and a beta of 0.83.

Extra Space Storage Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, September 30th. Shareholders of record on Monday, September 16th will be issued a $1.62 dividend. This represents a $6.48 dividend on an annualized basis and a yield of 3.83%. Extra Space Storage’s payout ratio is presently 144.32%.

Insider Buying and Selling at Extra Space Storage

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

Institutional Investors Weigh In On Extra Space Storage

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