Extra Space Storage (NYSE:EXR) Rating Lowered to “Sell” at Wall Street Zen

by · The Markets Daily

Extra Space Storage (NYSE:EXR – Get Free Report) was downgraded by research analysts at Wall Street Zen from a “hold” rating to a “sell” rating in a research note issued on Saturday.

Other analysts also recently issued reports about the company. Wells Fargo & Company boosted their target price on Extra Space Storage from $154.00 to $158.00 and gave the company an “overweight” rating in a report on Friday, July 24th. Raymond James Financial started coverage on Extra Space Storage in a research note on Thursday, July 16th. They set an “outperform” rating and a $44.00 price target on the stock. Barclays lifted their price target on Extra Space Storage from $170.00 to $172.00 and gave the stock an “overweight” rating in a research report on Friday, July 10th. Mizuho boosted their price objective on Extra Space Storage from $150.00 to $155.00 and gave the company an “outperform” rating in a research note on Wednesday, May 27th. Finally, The Goldman Sachs Group reissued a “neutral” rating and issued a $160.00 price objective on shares of Extra Space Storage in a report on Thursday. Six analysts have rated the stock with a Buy rating and ten have issued a Hold rating to the stock. According to MarketBeat, Extra Space Storage has a consensus rating of “Hold” and an average target price of $147.73.

View Our Latest Report on EXR

Extra Space Storage Price Performance

Shares of EXR opened at $148.49 on Friday. Extra Space Storage has a 1-year low of $125.71 and a 1-year high of $158.88. The stock has a market cap of $31.37 billion, a PE ratio of 32.78, a price-to-earnings-growth ratio of 4.56 and a beta of 1.18. The company has a debt-to-equity ratio of 0.96, a current ratio of 1.56 and a quick ratio of 0.37. The firm has a fifty day moving average price of $146.52 and a 200 day moving average price of $143.20.

Extra Space Storage (NYSE:EXR – Get Free Report) last released its quarterly earnings data on Tuesday, July 28th. The real estate investment trust reported $1.25 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.16 by $0.09. The company had revenue of $874.15 million during the quarter, compared to the consensus estimate of $874.99 million. Extra Space Storage had a net margin of 27.80% and a return on equity of 6.70%. Extra Space Storage’s revenue for the quarter was up 3.9% on a year-over-year basis. During the same quarter in the prior year, the firm posted $2.05 earnings per share. Extra Space Storage has set its FY 2026 guidance at 8.250-8.400 EPS. As a group, sell-side analysts anticipate that Extra Space Storage will post 8.29 EPS for the current year.

Insider Activity

In related news, EVP Gwyn Goodson Mcneal sold 3,300 shares of the business’s stock in a transaction dated Thursday, June 11th. The stock was sold at an average price of $150.00, for a total value of $495,000.00. Following the transaction, the executive vice president owned 37,374 shares in the company, valued at $5,606,100. The trade was a 8.11% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. 0.96% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

A number of institutional investors have recently modified their holdings of the stock. Reflection Asset Management purchased a new position in Extra Space Storage in the 4th quarter valued at $26,000. Caitong International Asset Management Co. Ltd purchased a new position in Extra Space Storage during the 3rd quarter worth $28,000. Cassaday & Co Wealth Management LLC purchased a new position in Extra Space Storage during the 1st quarter worth $30,000. CoreCap Advisors LLC lifted its stake in shares of Extra Space Storage by 975.0% in the 2nd quarter. CoreCap Advisors LLC now owns 258 shares of the real estate investment trust’s stock worth $37,000 after acquiring an additional 234 shares during the period. Finally, DV Equities LLC acquired a new stake in shares of Extra Space Storage in the 4th quarter worth $39,000. Institutional investors and hedge funds own 99.11% of the company’s stock.

About Extra Space Storage

(Get Free Report)

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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