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Extra Space Storage Inc. (NYSE:EXR – Get Rating) has received a consensus recommendation of “Hold” from the nine brokerages that are covering the firm, MarketBeat reports. Two research analysts have rated the stock with a sell rating, four have given a hold rating and two have assigned a buy rating to the company. The average 1 year price objective among brokerages that have covered the stock in the last year is $172.25.
EXR has been the topic of a number of recent research reports. StockNews.com initiated coverage on Extra Space Storage in a research note on Wednesday, October 12th. They set a “hold” rating on the stock. JPMorgan Chase & Co. downgraded Extra Space Storage from an “overweight” rating to a “neutral” rating and reduced their price target for the stock from $177.00 to $167.00 in a research report on Friday, December 16th. Morgan Stanley reduced their price target on Extra Space Storage from $153.00 to $145.00 and set an “underweight” rating on the stock in a research report on Wednesday, December 14th. Citigroup reduced their price target on Extra Space Storage from $175.00 to $170.00 and set a “neutral” rating on the stock in a research report on Monday, December 12th. Finally, Evercore ISI downgraded Extra Space Storage from an “in-line” rating to an “underperform” rating and reduced their price target for the stock from $162.00 to $150.00 in a research report on Monday, November 21st.
Extra Space Storage Stock Performance
EXR stock opened at $146.91 on Monday. The company has a current ratio of 0.49, a quick ratio of 0.49 and a debt-to-equity ratio of 1.72. The firm has a market cap of $19.67 billion, a PE ratio of 21.32, a P/E/G ratio of 2.11 and a beta of 0.48. The business’s 50-day moving average price is $158.80 and its two-hundred day moving average price is $174.36. Extra Space Storage has a 1-year low of $143.59 and a 1-year high of $228.84.
Extra Space Storage Announces Dividend
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, December 30th. Stockholders of record on Wednesday, December 14th will be given a $1.50 dividend. This represents a $6.00 annualized dividend and a dividend yield of 4.08%. The ex-dividend date of this dividend is Tuesday, December 13th. Extra Space Storage’s dividend payout ratio (DPR) is presently 87.08%.
Institutional Trading of Extra Space Storage
Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Parkside Financial Bank & Trust increased its position in Extra Space Storage by 80.0% in the 3rd quarter. Parkside Financial Bank & Trust now owns 144 shares of the real estate investment trust’s stock valued at $25,000 after buying an additional 64 shares in the last quarter. EdgeRock Capital LLC acquired a new position in Extra Space Storage during the 3rd quarter valued at about $27,000. Harel Insurance Investments & Financial Services Ltd. acquired a new position in Extra Space Storage during the 2nd quarter valued at about $29,000. Ronald Blue Trust Inc. acquired a new position in Extra Space Storage during the 2nd quarter valued at about $35,000. Finally, SJS Investment Consulting Inc. acquired a new position in Extra Space Storage during the 3rd quarter valued at about $35,000. 95.32% of the stock is owned by institutional investors.
About Extra Space Storage
(Get Rating)
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 September 30, 2020, the Company owned and/or operated 1,906 self-storage stores in 40 states, Washington, DC and Puerto Rico. The Company's stores comprise approximately 1.4 million units and approximately 147.5 million square feet of rentable space.
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