13,962 Shares in Extra Space Storage Inc $EXR Purchased by Dockside LLC

Key Points

• Dockside LLC acquired 13,962 shares of Extra Space Storage in the second quarter, valued at approximately $2.03 million. Institutional investors collectively own 99.11% of the company.
• Analysts maintain a generally cautious outlook, with six Buy ratings and ten Hold ratings; the average price target is $147.73. Several firms recently raised their targets, including Barclays to $172.
• Extra Space Storage reported quarterly EPS of $1.25, beating estimates of $1.16, while revenue rose 3.9% year over year to $874.15 million. Shares opened at $147.98, down 1.0%.

Dockside LLC acquired a new stake in Extra Space Storage Inc (NYSE:EXR - Free Report) in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 13,962 shares of the real estate investment trust's stock, valued at approximately $2,029,000.

A number of other institutional investors also recently added to or reduced their stakes in the business. Cohen & Steers Inc. boosted its stake in shares of Extra Space Storage by 13.4% in the fourth quarter. Cohen & Steers Inc. now owns 15,979,424 shares of the real estate investment trust's stock valued at $2,080,971,000 after buying an additional 1,888,763 shares in the last quarter. State Street Corp raised its position in Extra Space Storage by 1.7% in the third quarter. State Street Corp now owns 13,910,878 shares of the real estate investment trust's stock worth $1,960,599,000 after acquiring an additional 230,697 shares in the last quarter. Norges Bank purchased a new position in Extra Space Storage in the fourth quarter worth $1,219,606,000. Capital International Investors lifted its holdings in Extra Space Storage by 73.9% in the fourth quarter. Capital International Investors now owns 6,256,687 shares of the real estate investment trust's stock valued at $814,746,000 after acquiring an additional 2,658,947 shares during the period. Finally, Geode Capital Management LLC lifted its holdings in Extra Space Storage by 1.0% in the fourth quarter. Geode Capital Management LLC now owns 5,945,315 shares of the real estate investment trust's stock valued at $771,397,000 after acquiring an additional 56,118 shares during the period. Hedge funds and other institutional investors own 99.11% of the company's stock.

Analyst Upgrades and Downgrades

A number of research firms have recently weighed in on EXR. Barclays upped their price target on shares of Extra Space Storage from $170.00 to $172.00 and gave the stock an "overweight" rating in a research note on Friday, July 10th. Bank of America raised shares of Extra Space Storage from an "underperform" rating to a "neutral" rating and boosted their price objective for the stock from $147.00 to $156.00 in a report on Tuesday, June 16th. Royal Bank Of Canada upped their target price on shares of Extra Space Storage from $153.00 to $157.00 and gave the stock a "sector perform" rating in a research report on Thursday, July 30th. Raymond James Financial started coverage on shares of Extra Space Storage in a report on Thursday, July 16th. They issued an "outperform" rating and a $44.00 target price for the company. Finally, Truist Financial lifted their price target on shares of Extra Space Storage from $140.00 to $148.00 and gave the company a "hold" rating in a research report on Wednesday, June 17th. Six analysts have rated the stock with a Buy rating and ten have given a Hold rating to the stock. According to MarketBeat, the company currently has an average rating of "Hold" and an average target price of $147.73.

Extra Space Storage Trading Down 1.0%

NYSE:EXR opened at $147.98 on Friday. The company has a market capitalization of $31.26 billion, a PE ratio of 32.67, a price-to-earnings-growth ratio of 4.30 and a beta of 1.18. The company has a quick ratio of 1.56, a current ratio of 1.56 and a debt-to-equity ratio of 0.96. Extra Space Storage Inc has a 52-week low of $125.71 and a 52-week high of $158.88. The stock has a fifty day simple moving average of $147.45 and a 200-day simple moving average of $143.46.

Extra Space Storage (NYSE:EXR - Get Free Report) last issued its quarterly earnings data on Tuesday, July 28th. The real estate investment trust reported $1.25 EPS for the quarter, beating analysts' consensus estimates of $1.16 by $0.09. Extra Space Storage had a net margin of 27.80% and a return on equity of 6.70%. The firm had revenue of $874.15 million for the quarter, compared to analysts' expectations of $874.99 million. During the same period in the prior year, the company earned $2.05 EPS. The firm's revenue was up 3.9% on a year-over-year basis. Extra Space Storage has set its FY 2026 guidance at 8.250-8.400 EPS. On average, equities research analysts expect that Extra Space Storage Inc will post 8.31 earnings per share for the current fiscal year.

Insider Activity at Extra Space Storage

In other news, EVP Gwyn Goodson Mcneal sold 3,300 shares of the stock in a transaction that occurred on Thursday, June 11th. The shares were sold at an average price of $150.00, for a total value of $495,000.00. Following the sale, the executive vice president directly owned 37,374 shares in the company, valued at $5,606,100. This represents a 8.11% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 0.96% of the stock is owned by corporate insiders.

Extra Space Storage Company Profile

Extra Space Storage NYSE: EXR is a real estate investment trust that specializes in the ownership, development and operation of self-storage properties. The company provides storage solutions for residential and commercial customers, offering a range of unit sizes, climate-controlled units and specialized options such as vehicle and boat storage. Extra Space Storage markets itself as a customer-focused operator, with online rentals, contactless move-in options and ancillary retail products like packing supplies and insurance to support tenant needs.

Its business model combines property ownership with third-party management and development activities.

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