34,550 Shares in Extra Space Storage Inc $EXR Acquired by Rakuten Investment Management Inc.

Rakuten Investment Management Inc. bought a new stake in shares of Extra Space Storage Inc (NYSE:EXR - Free Report) in the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund bought 34,550 shares of the real estate investment trust's stock, valued at approximately $5,122,000.

A number of other hedge funds and other institutional investors have also bought and sold shares of EXR. Glenview Trust Co purchased a new stake in shares of Extra Space Storage during the 2nd quarter valued at $282,000. Empowered Funds LLC grew its position in Extra Space Storage by 46.2% in the second quarter. Empowered Funds LLC now owns 10,752 shares of the real estate investment trust's stock worth $1,562,000 after acquiring an additional 3,399 shares in the last quarter. Corient Private Wealth LP increased its stake in Extra Space Storage by 14.0% in the second quarter. Corient Private Wealth LP now owns 14,487 shares of the real estate investment trust's stock valued at $2,105,000 after acquiring an additional 1,775 shares during the last quarter. Freestone Grove Partners LP bought a new position in Extra Space Storage in the second quarter valued at $101,000. Finally, Man Group plc purchased a new stake in Extra Space Storage during the second quarter valued at about $11,404,000. Hedge funds and other institutional investors own 99.11% of the company's stock.

Insider Buying and Selling

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

Analysts Set New Price Targets

Several brokerages have issued reports on EXR. Royal Bank Of Canada lifted their price target on Extra Space Storage from $153.00 to $157.00 and gave the stock a "sector perform" rating in a research note on Thursday, July 30th. Weiss Ratings upgraded Extra Space Storage from a "hold (c)" rating to a "hold (c+)" rating in a research report on Friday, August 7th. Mizuho raised their price objective on Extra Space Storage from $150.00 to $155.00 and gave the company an "outperform" rating in a report on Wednesday, May 27th. Barclays boosted their target price on Extra Space Storage from $170.00 to $172.00 and gave the stock an "overweight" rating in a research report on Friday, July 10th. Finally, Wall Street Zen raised Extra Space Storage from a "sell" rating to a "hold" rating in a research note on Sunday, August 9th. Seven investment analysts have rated the stock with a Buy rating and nine have given a Hold rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of "Hold" and an average price target of $149.20.

Extra Space Storage Price Performance

Shares of NYSE:EXR opened at $142.93 on Friday. The company has a quick ratio of 1.56, a current ratio of 1.56 and a debt-to-equity ratio of 0.96. The stock has a market cap of $30.20 billion, a PE ratio of 31.55, a PEG ratio of 4.10 and a beta of 1.18. The company's fifty day moving average is $147.18 and its 200 day moving average is $143.95. Extra Space Storage Inc has a 52 week low of $125.71 and a 52 week high of $158.88.

Extra Space Storage (NYSE:EXR - Get Free Report) last posted its quarterly earnings results on Tuesday, July 28th. The real estate investment trust reported $1.25 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.16 by $0.09. The business had revenue of $874.15 million during the quarter, compared to analyst estimates of $874.99 million. Extra Space Storage had a net margin of 27.80% and a return on equity of 6.70%. The company's revenue was up 3.9% on a year-over-year basis. During the same period in the prior year, the business posted $2.05 earnings per share. Extra Space Storage has set its FY 2026 guidance at 8.250-8.400 EPS. Research analysts anticipate that Extra Space Storage Inc will post 8.33 earnings per share for the current year.

Extra Space Storage Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, September 30th. Investors of record on Tuesday, September 15th will be given a dividend of $1.62 per share. This represents a $6.48 annualized dividend and a yield of 4.5%. The ex-dividend date is Tuesday, September 15th. Extra Space Storage's dividend payout ratio (DPR) is presently 143.05%.

About Extra Space Storage

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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