B of A Securities Upgrades Extra Space Storage, Sets New Price Target
B of A Securities now rates Extra Space Storage as hold with a $156 target.
Key Points
- B of A Securities upgraded Extra Space Storage to hold with a new price target of $156, as of June 16, 2026.
- Extra Space Storage shares recently traded at $146.65, with a market cap of $30.98 billion and a P/E ratio of 33.03.
- Recent insider activity shows multiple buys, while peers like Vanguard Portfolio Management increased their holdings.
B of A Securities has upgraded its view on Extra Space Storage Inc. (NYSE:EXR), now rating the stock as a hold. On June 16, 2026, analyst Jeffrey Spector set a new price target of $156 for the company. Shares of Extra Space Storage were recently trading at $146.65.
Extra Space Storage Stock Snapshot
Shares of NYSE:EXR are trading at $146.65. The company has a market cap of approximately $30.98 billion and a P/E ratio of 33.03. It has a 52-week low of $125.71 and a high of $155.19, with a 50-day moving average of $142.61 and a 200-day moving average of $140.01. The real estate investment trust has a beta of 1.206, indicating its stock is more volatile than the market.
Recent Earnings
Extra Space Storage reported revenue of $3.48 billion, reflecting a growth of 3.8%. The company's earnings per share stand at $4.44, with a net margin of 27.14% and a return on equity of 6.83%. The next earnings report is anticipated on July 29, 2026.
Dividend
The company offers an annual dividend rate of $6.48, yielding 4.42%. The dividend payout ratio is 145.62%, reflecting the company's commitment to returning capital to shareholders.
Insider Buying and Selling at Extra Space Storage Inc.
Recent insider activity includes a sale by EVP and Chief Legal Officer McNeal Gwyn Goodson, who sold 3,300 shares on June 11, 2026, at an average price of $150. On the buying side, multiple insiders, including Crystal Call Maggelet and Gary Crittenden, each bought 1,407 shares on May 14, 2026, at $142.19.
Analysts Set New Price Targets
On June 16, 2026, B of A Securities upgraded Extra Space Storage to a hold rating with a $156 price target. Wells Fargo maintained its buy rating with a $154 target on June 1, while Mizuho also kept a buy rating with a $155 target on May 27. The consensus among analysts is a buy, with a mean price target of $154.35 based on 20 opinions.
About Extra Space Storage
Extra Space Storage Inc., based in Salt Lake City, Utah, is a leading operator of self-storage properties in the United States. As of the end of 2025, it owned or managed over 4,281 storage facilities across 43 states and Washington, D.C. The company provides a variety of storage solutions, including units for boats, RVs, and businesses. With a workforce of nearly 8,393 employees, Extra Space Storage continues to expand its reach in the self-storage sector.
Bottom Line
B of A Securities' recent rating change for Extra Space Storage highlights the ongoing interest in the company within the investment community. While the stock has shown volatility, its recent price target adjustment reflects a more cautious stance. Investors will be watching the upcoming earnings report for further insights into the company's performance and future prospects.
See Also
This instant news alert was generated by automated narrative technology and financial data from EarningsIQ and public regulatory filings. It is for informational purposes only and is not financial advice.