Extra Space Storage (NYSE:EXR – Get Note) had its price target raised by Citigroup research analysts to $229.00 in a research report released Monday to clients and investors, Stock Target Advisor reports. Citigroup’s price target would suggest a potential upside of 9.56% from the company’s current price.
Several other research analysts have also recently commented on EXR. JPMorgan Chase & Co. upgraded Extra Space Storage from a “neutral” rating to an “overweight” rating and lowered its price target for the stock from $224.00 to $193.00 in a report from the Wednesday, June 22. Morgan Stanley cut its price target on Extra Space Storage from $172.00 to $156.00 and set an “underweight” rating on the stock in a Wednesday, May 25 report. UBS Group lowered its price target on Extra Space Storage from $234.00 to $197.00 and placed a “buy” rating on the stock in a Monday July 25 research note. KeyCorp raised its price target on Extra Space Storage from $200.00 to $220.00 and gave the stock an “overweight” rating in a Wednesday, August 17 research note. Finally, Jefferies Financial Group lowered its price target on Extra Space Storage from $228.00 to $184.00 and placed a “hold” rating on the stock in a Thursday, June 30 research note. One analyst rated the stock with a sell rating, three assigned a hold rating and seven assigned the company a buy rating. According to data from MarketBeat, the stock currently has an average rating of “moderate buy” and a consensus target price of $206.09.
Additional storage space down 1.2%
Shares of EXR were down $2.63 on Monday, hitting $209.02. 572,860 shares of the company were traded, against an average volume of 695,566. Extra Space Storage has a 52-week low of $156.70 and a 52-week high of $228.84. The company has a current ratio of 0.41, a quick ratio of 0.41 and a debt ratio of 1.64. The stock has a market capitalization of $27.99 billion, a PE ratio of 31.48, a P/E/G ratio of 2.88 and a beta of 0.50. The company’s fifty-day simple moving average is $180.72 and its 200-day simple moving average is $188.60.
Institutional investors weigh in on additional storage space
A number of large investors have recently changed their positions in EXR. Menard Financial Group LLC increased its stake in Extra Space Storage by 2.2% in the first quarter. Menard Financial Group LLC now owns 2,282 shares of the real estate investment trust worth $469,000 after acquiring 50 additional shares in the last quarter. Coldstream Capital Management Inc. increased its holdings in Extra Space Storage by 6.1% in the first quarter. Coldstream Capital Management Inc. now owns 1,009 shares of the real estate investment trust worth $207,000 after acquiring 58 additional shares in the last quarter. FirstPurpose Wealth LLC increased its holdings in Extra Space Storage by 0.4% in the first quarter. FirstPurpose Wealth LLC now owns 13,746 shares of the real estate investment trust worth $2,826,000 after acquiring 61 additional shares in the last quarter. Redpoint Investment Management Pty Ltd increased its stake in Extra Space Storage by 0.5% in the second quarter. Redpoint Investment Management Pty Ltd now owns 13,967 shares of the real estate investment trust worth $2,376,000 after acquiring 65 additional shares in the last quarter. Finally, First Affirmative Financial Network increased its holdings in Extra Space Storage by 4.5% in the fourth quarter. First Affirmative Financial Network now owns 1,545 shares of the real estate investment trust worth $350,000 after acquiring 66 additional shares in the last quarter. 95.44% of the shares are currently held by hedge funds and other institutional investors.
Extra Space Storage Company Profile
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Extra Space Storage Inc, headquartered in Salt Lake City, Utah, is a self-administered and self-managed REIT and member of the S&P 500. As of September 30, 2020, the Company owned and/or operated 1,906 storage stores self service. 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 leasable space.
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