Extra Space Storage, Inc. (NYSE:EXR) Given Consensus Recommendation of “Hold” by Brokerages

Shares of Extra Space Storage, Inc. (NYSE:EXR) have earned an average rating of “Hold” from the nine ratings firms that are currently covering the stock, Marketbeat Ratings reports. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and three have given a buy rating to the company. The average 12-month price objective among analysts that have covered the stock in the last year is $117.04.

Several equities analysts have commented on EXR shares. Robert W. Baird set a $121.00 target price on shares of Extra Space Storage and gave the company a “hold” rating in a research note on Wednesday, August 21st. Citigroup raised their target price on shares of Extra Space Storage from $103.00 to $119.00 and gave the company a “neutral” rating in a research note on Wednesday. Zacks Investment Research cut shares of Extra Space Storage from a “buy” rating to a “hold” rating and set a $125.00 target price on the stock. in a research note on Tuesday. Stifel Nicolaus started coverage on shares of Extra Space Storage in a research note on Monday, August 19th. They set a “buy” rating and a $131.00 target price on the stock. Finally, Wells Fargo & Co raised their target price on shares of Extra Space Storage from $114.00 to $130.00 and gave the company an “outperform” rating in a research note on Thursday, August 22nd.

NYSE:EXR traded down $0.99 during mid-day trading on Friday, hitting $116.01. The stock had a trading volume of 77,813 shares, compared to its average volume of 818,405. The stock has a market capitalization of $14.88 billion, a price-to-earnings ratio of 24.86, a P/E/G ratio of 4.98 and a beta of 0.19. The company has a current ratio of 0.48, a quick ratio of 0.48 and a debt-to-equity ratio of 1.78. The company has a 50 day simple moving average of $118.11 and a 200-day simple moving average of $107.66. Extra Space Storage has a 52 week low of $83.70 and a 52 week high of $124.46.

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, September 30th. Stockholders of record on Monday, September 16th will be paid a $0.90 dividend. The ex-dividend date of this dividend is Friday, September 13th. This represents a $3.60 annualized dividend and a dividend yield of 3.10%. Extra Space Storage’s dividend payout ratio is currently 77.09%.

In other news, SVP Grace Kunde sold 1,738 shares of Extra Space Storage stock in a transaction that occurred on Thursday, August 15th. The shares were sold at an average price of $120.45, for a total value of $209,342.10. Following the transaction, the senior vice president now owns 7,202 shares of the company’s stock, valued at approximately $867,480.90. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Joseph D. Margolis sold 2,500 shares of Extra Space Storage stock in a transaction that occurred on Monday, July 1st. The stock was sold at an average price of $105.01, for a total transaction of $262,525.00. Following the completion of the transaction, the chief executive officer now directly owns 111,232 shares in the company, valued at approximately $11,680,472.32. The disclosure for this sale can be found here. Insiders sold a total of 265,524 shares of company stock worth $32,159,600 in the last ninety days. Corporate insiders own 3.29% of the company’s stock.

Several institutional investors and hedge funds have recently made changes to their positions in EXR. Xact Kapitalforvaltning AB lifted its stake in Extra Space Storage by 9.8% in the second quarter. Xact Kapitalforvaltning AB now owns 26,053 shares of the real estate investment trust’s stock valued at $2,764,000 after acquiring an additional 2,315 shares during the last quarter. Achmea Investment Management B.V. acquired a new stake in Extra Space Storage in the second quarter valued at approximately $689,000. Navellier & Associates Inc lifted its stake in Extra Space Storage by 21.2% in the second quarter. Navellier & Associates Inc now owns 7,484 shares of the real estate investment trust’s stock valued at $794,000 after acquiring an additional 1,311 shares during the last quarter. Signaturefd LLC lifted its stake in Extra Space Storage by 103.4% in the second quarter. Signaturefd LLC now owns 240 shares of the real estate investment trust’s stock valued at $25,000 after acquiring an additional 122 shares during the last quarter. Finally, Commonwealth of Pennsylvania Public School Empls Retrmt SYS lifted its stake in Extra Space Storage by 7.8% in the first quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 7,442 shares of the real estate investment trust’s stock valued at $758,000 after acquiring an additional 540 shares during the last quarter. Institutional investors own 97.28% of the company’s stock.

About Extra Space Storage

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 December 31, 2018, the Company owned and/or operated 1,647 self-storage stores in 39 states, Washington, DC and Puerto Rico. The Company's stores comprise approximately 1.2 million units and approximately 125.7 million square feet of rentable space.

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Analyst Recommendations for Extra Space Storage (NYSE:EXR)

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