Extra Space Storage (NYSE:EXR) PT Lowered to $196.00

Extra Space Storage (NYSE:EXRGet Rating) had its price objective reduced by Evercore ISI from $201.00 to $196.00 in a report issued on Monday, The Fly reports. Evercore ISI currently has an in-line rating on the real estate investment trust’s stock.

Several other equities analysts have also recently weighed in on EXR. Morgan Stanley dropped their price objective on Extra Space Storage from $172.00 to $156.00 and set an underweight rating on the stock in a research note on Wednesday, May 25th. StockNews.com cut Extra Space Storage from a buy rating to a hold rating in a research note on Thursday, August 11th. Citigroup raised their price objective on Extra Space Storage to $229.00 in a research note on Monday, August 22nd. Truist Financial raised their price objective on Extra Space Storage from $200.00 to $225.00 and gave the company a buy rating in a research note on Monday, August 15th. Finally, KeyCorp raised their price objective on Extra Space Storage from $200.00 to $220.00 and gave the company an overweight rating in a research note on Wednesday, August 17th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and seven have given a buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of Moderate Buy and a consensus price target of $205.91.

Extra Space Storage Stock Performance

NYSE EXR opened at $174.50 on Monday. The company has a fifty day simple moving average of $194.66 and a 200 day simple moving average of $189.36. Extra Space Storage has a 12-month low of $156.70 and a 12-month high of $228.84. The company has a current ratio of 0.41, a quick ratio of 0.41 and a debt-to-equity ratio of 1.64. The company has a market cap of $23.37 billion, a P/E ratio of 26.26, a PEG ratio of 2.43 and a beta of 0.48.

Extra Space Storage Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, September 30th. Shareholders of record on Thursday, September 15th will be issued a dividend of $1.50 per share. This represents a $6.00 dividend on an annualized basis and a yield of 3.44%. The ex-dividend date is Wednesday, September 14th. Extra Space Storage’s payout ratio is presently 90.36%.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in EXR. Norges Bank purchased a new position in Extra Space Storage during the 4th quarter valued at about $439,657,000. Zimmer Partners LP grew its holdings in shares of Extra Space Storage by 1,875.0% during the second quarter. Zimmer Partners LP now owns 987,500 shares of the real estate investment trust’s stock worth $167,994,000 after purchasing an additional 937,500 shares in the last quarter. Ceredex Value Advisors LLC purchased a new position in shares of Extra Space Storage during the first quarter worth about $148,793,000. Invesco Ltd. grew its holdings in shares of Extra Space Storage by 57.5% during the fourth quarter. Invesco Ltd. now owns 1,734,054 shares of the real estate investment trust’s stock worth $393,162,000 after purchasing an additional 632,809 shares in the last quarter. Finally, State Street Corp grew its holdings in shares of Extra Space Storage by 7.2% during the first quarter. State Street Corp now owns 9,119,086 shares of the real estate investment trust’s stock worth $1,874,884,000 after purchasing an additional 612,842 shares in the last quarter. Hedge funds and other institutional investors own 95.10% of the company’s stock.

Extra Space Storage Company Profile

(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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