Extra Space Storage surged to $154.71 per share this evening, but it remains 7.28% above its mean target price of $144.21. There may still be room for more downwards movement — even after today's 7.2% drop. Analysts are giving the large-cap Specialty Real Estate Investment Trust stock on average rating of hold, with target prices ranging from $115.0 to $172.0 per share.
The stock has an average amount of shares sold short at 2.6%, and a short ratio of 2.8. The company's insiders own 1.05% of its outstanding shares, which indicates a strong alignment between management and shareholder interests. Finally, we also note that a significant number of institutional investors are invested in the stock, with 99.2% of Extra Space Storage's shares being owned by this investor type.
Institutions Invested in Extra Space Storage
| Date Reported | Holder | Percentage | Shares | Value |
|---|---|---|---|---|
| 2023-09-30 | Vanguard Group Inc | 16% | 33,686,341 | $5,211,614,042 |
| 2023-09-30 | Capital World Investors | 10% | 21,476,701 | $3,322,660,555 |
| 2023-09-30 | Blackrock Inc. | 10% | 20,758,884 | $3,211,607,083 |
| 2023-09-30 | State Street Corporation | 6% | 13,509,700 | $2,090,085,777 |
| 2023-09-30 | Cohen & Steers Inc. | 5% | 10,382,745 | $1,606,314,548 |
| 2023-09-30 | Principal Financial Group, Inc. | 3% | 6,505,834 | $1,006,517,621 |
| 2023-09-30 | Geode Capital Management, LLC | 2% | 5,176,798 | $800,902,453 |
| 2023-09-30 | Capital International Investors | 2% | 4,218,354 | $652,621,575 |
| 2023-09-30 | JP Morgan Chase & Company | 2% | 3,345,787 | $517,626,729 |
| 2023-09-30 | Dimensional Fund Advisors LP | 1% | 3,069,067 | $474,815,376 |
Besides an analyst consensus of little upside potential, other market factors point to there being mixed market sentiment on Extra Space Storage.
