Wells Fargo Keeps Their Buy Rating on Extra Space Storage (EXR)

In a report released today, Eric Luebchow from Wells Fargo maintained a Buy rating on Extra Space Storage (EXR – Research Report), with a price target of $160.00. The company’s shares closed yesterday at $144.52.

According to TipRanks, Luebchow is a 3-star analyst with an average return of 1.1% and a 50.34% success rate. Luebchow covers the Real Estate sector, focusing on stocks such as Equinix, Cubesmart, and Extra Space Storage.

Extra Space Storage has an analyst consensus of Moderate Buy, with a price target consensus of $153.14, which is a 5.96% upside from current levels. In a report released on March 28, Raymond James also maintained a Buy rating on the stock with a $160.00 price target.

Based on Extra Space Storage’s latest earnings release for the quarter ending December 31, the company reported a quarterly revenue of $797.77 million and a net profit of $216.13 million. In comparison, last year the company earned a revenue of $506.72 million and had a net profit of $204.26 million

Based on the recent corporate insider activity of 60 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.

TipRanks has tracked 36,000 company insiders and found that a few of them are better than others when it comes to timing their transactions. See which 3 stocks are most likely to make moves following their insider activities.

Extra Space Storage (EXR) Company Description:

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.