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Wells Fargo Downgrades Extra Space Storage Inc. (EXR) to an Equal weight from an Overweight

In a filing, Extra Space Storage Inc. revealed its Chief Executive Officer Margolis Joseph D unloaded Company’s shares for reported $1.34 million on Oct 01 ’24. In the deal valued at $178.52 per share,7,500 shares were sold. As a result of this transaction, Margolis Joseph D now holds 24,190 shares worth roughly $4.05 million.

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Then, COVE HOLLOW LANE II bought 7,500 shares, generating $1,351,425 in total proceeds.

Before that, Woolley Kenneth M. sold 6,647 shares. Extra Space Storage Inc. shares valued at $1,178,048 were divested by the Director at a price of $177.23 per share. As a result of the transaction, Woolley Kenneth M. now holds 404,306 shares, worth roughly $67.71 million.

Wells Fargo downgraded its Extra Space Storage Inc. [EXR] rating to an Equal weight from a an Overweight in a research note published recently. A number of analysts have revised their coverage, including Jefferies’s analysts, who increased its forecast for the stock in mid September from “a Hold” to “a Buy”. RBC Capital Mkts began covering EXR with “Sector perform” recommendation on September 10, 2024. BofA Securities revised its rating on August 05, 2024. It rated EXR as “an Underperform” which previously was an “a Neutral”.

Price Performance Review of EXR

On Monday, Extra Space Storage Inc. [NYSE:EXR] saw its stock jump 0.64% to $167.46. Over the last five days, the stock has gained 1.61%. Extra Space Storage Inc. shares have risen nearly 4.45% since the year began. Nevertheless, the stocks have risen 59.15% over the past one year. While a 52-week high of $184.87 was reached on 09/18/24, a 52-week low of $101.19 was recorded on 04/24/24. SMA at 50 days reached $174.36, while 200 days put it at $155.14.

Levels Of Support And Resistance For EXR Stock

The 24-hour chart illustrates a support level at 166.14, which if violated will result in even more drops to 164.81. On the upside, there is a resistance level at 169.18. A further resistance level may holdings at 170.89. The Relative Strength Index (RSI) on the 14-day chart is 42.01, which indicates neutral technical sentiment, while the Moving Average Convergence Divergence (MACD) stands at -1.92, which suggests price will go down in the next trading period. Percent R suggests that price movement has been low at 68.80%. Stochastics %K at 30.43% indicates the stock is a holding.

How much short interest is there in Extra Space Storage Inc.?

A steep rise in short interest was recorded in Extra Space Storage Inc. stocks on 2024-10-15, dropping by -0.86 million shares to a total of 3.75 million shares. Yahoo Finance data shows the prior-month short interest on 2024-09-13 was 4.6 million shares. There was a decline of -22.82%, which implies that there is a negative sentiment for the stock.

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