Barclays Forecasts Strong Price Appreciation for Extra Space Storage (NYSE:EXR) Stock

by · The Markets Daily

Extra Space Storage (NYSE:EXR – Get Free Report) had its target price upped by research analysts at Barclays from $164.00 to $170.00 in a research report issued on Thursday,Benzinga reports. The brokerage currently has an “overweight” rating on the real estate investment trust’s stock. Barclays‘s price target would indicate a potential upside of 15.45% from the stock’s previous close.

A number of other research analysts have also weighed in on EXR. Wells Fargo & Company cut their price objective on 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. Truist Financial increased their price objective on shares of Extra Space Storage from $142.00 to $146.00 and gave the stock a “hold” rating in a research report on Tuesday, January 20th. Morgan Stanley cut their price target on shares of Extra Space Storage from $155.00 to $152.00 and set an “equal weight” rating on the stock in a report on Friday, December 5th. Scotiabank lifted their target price on Extra Space Storage from $145.00 to $156.00 and gave the company a “sector perform” rating in a research report on Monday. Finally, UBS Group dropped their price objective on shares of Extra Space Storage from $156.00 to $148.00 and set a “buy” rating on the stock in a research note on Thursday, January 8th. Five equities research analysts have rated the stock with a Buy rating, ten have given a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $145.13.

View Our Latest Stock Analysis on Extra Space Storage

Extra Space Storage Stock Performance

Shares of EXR stock traded down $3.11 during trading hours on Thursday, reaching $147.25. 222,044 shares of the company traded hands, compared to its average volume of 1,393,623. The company has a market cap of $31.09 billion, a P/E ratio of 32.01, a P/E/G ratio of 3.01 and a beta of 1.24. Extra Space Storage has a 12-month low of $121.03 and a 12-month high of $160.58. The firm has a 50-day moving average price of $141.54 and a 200 day moving average price of $139.59. The company has a debt-to-equity ratio of 0.92, a current ratio of 0.39 and a quick ratio of 0.39.

Extra Space Storage (NYSE:EXR – Get Free Report) last released its earnings results on Thursday, February 19th. The real estate investment trust reported $2.08 earnings per share for the quarter, beating analysts’ consensus estimates of $2.03 by $0.05. Extra Space Storage had a net margin of 28.84% and a return on equity of 6.79%. The company had revenue of $857.47 million for the quarter, compared to analysts’ expectations of $732.92 million. During the same quarter in the previous year, the company earned $2.03 EPS. Extra Space Storage’s revenue for the quarter 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, sell-side analysts predict that Extra Space Storage will post 8.1 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Extra Space Storage

A number of large investors have recently added to or reduced their stakes in EXR. Reflection Asset Management purchased a new stake in Extra Space Storage during the 4th quarter worth approximately $26,000. Avalon Trust Co purchased a new position in Extra Space Storage during the third quarter worth about $28,000. Caitong International Asset Management Co. Ltd acquired a new stake in Extra Space Storage during the third quarter worth $28,000. Versant Capital Management Inc lifted its position in Extra Space Storage by 60.2% in the third quarter. Versant Capital Management Inc now owns 213 shares of the real estate investment trust’s stock valued at $30,000 after buying an additional 80 shares during the last quarter. Finally, Davis Capital Management purchased a new position in shares of Extra Space Storage during the 3rd quarter worth approximately $35,000. 99.11% of the stock is currently owned by institutional investors and hedge funds.

Extra Space Storage Company Profile

(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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