Are Extra Space Storage (NYSE:EXR) Shares Worth Your Time and Dime Following Recent KeyBanc Capital Mkts Upgrade?


Extra Space Storage (NYSE:EXR) Stock Upgrade

Extra Space Storage (NYSE:EXR) was raised by KeyBanc Capital Mkts from a “Sector Weight” rating to a solid “Overweight” rating in a recent report sent to clients and investors on Monday morning.

From a total of 14 analysts covering Extra Space Storage Inc. (NYSE:EXR) stock, 9 rate it a ”Buy”, 1 a “Sell”, and 6 a ”Hold”. This means that 56% of the ratings are positive. The highest target price is $91 while the lowest target price is $74.5. The mean of all analyst targets is $84.75 with a -4.95% below today’s ($86.32) stock price. Extra Space Storage Inc. was the topic of 16 analyst reports since July 23, 2015 according to the firm StockzIntelligence Inc. Raymond James upgraded shares on November 13 to “Strong Buy” rating. Citigroup maintained EXR stock in a recent report from October 2 with “Neutral” rating. Finally, Robert W. Baird initiated the stock with “Outperform” rating in a report issued on a July 23.

Approximately 169,770 shares of stock traded hands. Extra Space Storage, Inc. (NYSE:EXR) has risen 28.58% since May 4, 2015 and is uptrending. It has outperformed by 29.66% the S&P500.

The overall sentiment of institutions has decreased to 1.38 in Q2 2015. Its down 0.30, from 1.68 in 2015Q2. The ratio fall, as 26 institutions have sold all the shares of Extra Space Storage, Inc. that they owned while 100 funds have taken shares off the table. 44 funds have purchased shares for the first time while 130 added to their positions. These institutions now hold 131.10 million shares or 8.22% more than the 121.15 million shares they owned in 2015Q2.

The Fund American Assets Capital Advisers currently is holding shares equating to 4.65% of its total portfolio in Extra Space Storage, Inc. representing a total of 88,703 shares. Another fund,Cornerstone Real Estate Advisers Llc, is holding a total of 81,689 shares equating to 3.45% of their holdings. Additionally, Harrison Street Securities Llc has a 14,181 share stake in Extra Space Storage, Inc. which represents 3.24% of their total portfolio. The Fund, Adelante Capital Management Llc, based out of California, has also built up a stake in the stock, which represents a total of 2.89% of their total portfolio. Finally Daiwa Securities Group Inc., a fund which is based in the state of Japan reported a total holdings of 5.24 million shares.

Insider activity is a very important aspect to track on any stock. Going back to March 3, 2015, shareholders of Extra Space Storage, Inc. have witnessed 0 buys, and a total of 2 insider sales equating to a net activity of approximately $2.99 million . Kirk Spencer sold 20,000 shares worth approximately $1.54 million. Skousen K Fred sold 980 shares worth approximately $64,571.

Extra Space Storage Inc. is a fully integrated, self-administered and self-managed real estate investment trust . The company has a market cap of $10.60 billion. The Firm owns, operates, manages, acquires, develops and redevelops professionally managed self-storage properties (stores). It has 45.6 P/E ratio. The Firm operates through three divisions: rental operations; tenant reinsurance, and property management, acquisition and development.

According to Zacks Investment Research, “Extra Space Storage Inc. is a fully integrated, self-administered and self-managed real estate investment trust that acquires, develops and operates self-storage facilities.” Get a free copy of the Zacks research report on Extra Space Storage, Inc. (EXR).