JPMorgan Chase & Co. Raises Extra Space Storage (NYSE:EXR) Price Target to $144.00
by Danessa Lincoln · The Markets DailyExtra Space Storage (NYSE:EXR – Get Free Report) had its price target hoisted by research analysts at JPMorgan Chase & Co. from $142.00 to $144.00 in a note issued to investors on Monday,Benzinga reports. The firm presently has a “neutral” rating on the real estate investment trust’s stock. JPMorgan Chase & Co.‘s target price would suggest a potential upside of 8.61% from the stock’s current price.
A number of other equities research analysts have also recently issued reports on EXR. Royal Bank Of Canada boosted their price objective on Extra Space Storage from $142.00 to $153.00 and gave the company a “sector perform” rating in a research note on Monday, February 23rd. Wells Fargo & Company cut their target price on shares of Extra Space Storage from $160.00 to $150.00 and set an “overweight” rating for the company in a research report on Thursday, February 5th. Barclays lifted their target price on shares of Extra Space Storage from $164.00 to $170.00 and gave the stock an “overweight” rating in a research note on Thursday, March 5th. Mizuho upped their price target on shares of Extra Space Storage from $137.00 to $143.00 and gave the company an “outperform” rating in a research note on Monday, January 12th. Finally, Scotiabank raised their price objective on shares of Extra Space Storage from $145.00 to $156.00 and gave the stock a “sector perform” rating in a report on Monday, March 2nd. Six equities research analysts have rated the stock with a Buy rating, nine have issued a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, Extra Space Storage has an average rating of “Hold” and an average target price of $143.80.
Read Our Latest Stock Report on Extra Space Storage
Extra Space Storage Stock Performance
NYSE EXR traded up $2.32 on Monday, hitting $132.58. 70,296 shares of the stock traded hands, compared to its average volume of 1,366,275. The company has a debt-to-equity ratio of 0.92, a quick ratio of 0.39 and a current ratio of 0.39. The business’s fifty day moving average is $143.51 and its two-hundred day moving average is $139.55. Extra Space Storage has a 12 month low of $121.03 and a 12 month high of $155.19. The firm has a market capitalization of $27.99 billion, a price-to-earnings ratio of 28.89, a PEG ratio of 2.62 and a beta of 1.24.
Extra Space Storage (NYSE:EXR – Get Free Report) last issued its earnings results on Thursday, February 19th. The real estate investment trust reported $2.08 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.03 by $0.05. Extra Space Storage had a return on equity of 6.79% and a net margin of 28.84%.The firm had revenue of $857.47 million for the quarter, compared to analyst estimates of $732.92 million. During the same period in the previous year, the company posted $2.03 earnings per share. The business’s revenue was up 4.3% on a year-over-year basis. Extra Space Storage has set its FY 2026 guidance at 8.050-8.350 EPS. As a group, equities analysts anticipate that Extra Space Storage will post 8.1 EPS for the current fiscal year.
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 dated Friday, March 13th. The stock was sold at an average price of $142.08, for a total transaction of $1,065,600.00. Following the sale, the chief executive officer directly owned 66,495 shares in the company, valued at $9,447,609.60. This represents a 10.14% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. 0.96% of the stock is currently owned by corporate insiders.
Hedge Funds Weigh In On Extra Space Storage
A number of large investors have recently modified their holdings of the company. Hsbc Holdings PLC grew its stake in Extra Space Storage by 8.3% during the fourth quarter. Hsbc Holdings PLC now owns 836,315 shares of the real estate investment trust’s stock valued at $108,954,000 after acquiring an additional 63,979 shares in the last quarter. Stance Capital LLC bought a new stake in Extra Space Storage during the 4th quarter worth approximately $2,851,000. Reflection Asset Management purchased a new stake in Extra Space Storage in the 4th quarter worth approximately $26,000. Astoria Portfolio Advisors LLC. boosted its holdings in Extra Space Storage by 13.3% in the 4th quarter. Astoria Portfolio Advisors LLC. now owns 2,154 shares of the real estate investment trust’s stock valued at $280,000 after purchasing an additional 253 shares during the period. Finally, Pacer Advisors Inc. boosted its holdings in Extra Space Storage by 2.6% in the 4th quarter. Pacer Advisors Inc. now owns 141,993 shares of the real estate investment trust’s stock valued at $18,490,000 after purchasing an additional 3,542 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.