Fintel reports that on September 18, 2024, Jefferies upgraded their outlook for Extra Space Storage (NYSE:EXR) from Hold to Buy.
Analyst Price Forecast Suggests 4.38% Downside
As of August 26, 2024, the average one-year price target for Extra Space Storage is $170.95/share. The forecasts range from a low of $142.41 to a high of $197.40. The average price target represents a decrease of 4.38% from its latest reported closing price of $178.78 / share.
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The projected annual revenue for Extra Space Storage is 1,989MM, a decrease of 38.22%. The projected annual non-GAAP EPS is 6.72.
What is the Fund Sentiment?
There are 1,507 funds or institutions reporting positions in Extra Space Storage. This is an increase of 45 owner(s) or 3.08% in the last quarter. Average portfolio weight of all funds dedicated to EXR is 0.46%, an increase of 0.51%. Total shares owned by institutions increased in the last three months by 3.07% to 252,468K shares. 
The put/call ratio of EXR is 0.31, indicating a bullish outlook.
What are Other Shareholders Doing?
Capital World Investors holds 19,590K shares representing 9.24% ownership of the company. In its prior filing, the firm reported owning 16,236K shares , representing an increase of 17.12%. The firm increased its portfolio allocation in EXR by 25.68% over the last quarter.
Cohen & Steers holds 8,780K shares representing 4.14% ownership of the company. In its prior filing, the firm reported owning 10,700K shares , representing a decrease of 21.86%. The firm decreased its portfolio allocation in EXR by 13.10% over the last quarter.
VGSIX - Vanguard Real Estate Index Fund Investor Shares holds 8,629K shares representing 4.07% ownership of the company. In its prior filing, the firm reported owning 8,533K shares , representing an increase of 1.11%. The firm decreased its portfolio allocation in EXR by 2.22% over the last quarter.
Principal Financial Group holds 6,867K shares representing 3.24% ownership of the company. In its prior filing, the firm reported owning 7,093K shares , representing a decrease of 3.30%. The firm decreased its portfolio allocation in EXR by 43.51% over the last quarter.
Norges Bank holds 6,809K shares representing 3.21% ownership of the company. In its prior filing, the firm reported owning 0K shares , representing an increase of 100.00%.
Extra Space Storage Background Information
(This description is provided by the company.)
Extra Space Storage Inc., headquartered in Salt Lake City, is a fully integrated, self-administered and self-managed real estate investment trust, and a member of the S&P 500. As of December 31, 2020, Extra Space owned and/or operated 1,921 self-storage properties, which comprise approximately 1.4 million units and approximately 149.2 million square feet of rentable storage space offering customers conveniently located and secure storage units across the country, including boat storage, RV storage and business storage. Extra Space is the second largest owner and/or operator of self-storage properties in the United States and is the largest self-storage management company in the United States.
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