In a report released today, Juan C. Sanabria from BMO Capital downgraded Extra Space Storage (EXR) to Hold, with a price target of $160.00. The company’s shares closed last Thursday at $144.99, close to its 52-week high of $149.43.
According to TipRanks.com, Sanabria is a 2-star analyst with an average return of 2.2% and a 54.8% success rate. Sanabria covers the Financial sector, focusing on stocks such as Retail Opportunity Investments, National Storage Affiliates, and National Health Investors.
Extra Space Storage has an analyst consensus of Moderate Buy, with a price target consensus of $144.86.
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Based on Extra Space Storage’s latest earnings release for the quarter ending March 31, the company reported a quarterly revenue of $359 million and net profit of $203 million. In comparison, last year the company earned revenue of $332 million and had a net profit of $108 million.
Based on the recent corporate insider activity of 52 insiders, corporate insider sentiment is negative on the stock. This means that over the past quarter there has been an increase of insiders selling their shares of EXR in relation to earlier this year. Most recently, in March 2021, Joseph Margolis, the CEO of EXR sold 56,000 shares for a total of $7,430,640.
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Extra Space Storage, Inc. is a real estate investment trust. It operates through the following segments: Self-Storage Operations and Tenant Reinsurance. The Self-Storage Operations segment includes rents The Tenant Reinsurance segment consists of reinsurance of risks relating to the loss of good stored by tenants in the firm’s stores. The company was founded by Kenneth Musser Woolley on April 30, 2004 and is headquartered in Salt Lake City, UT.
