OVERSEA CHINESE BANKING Corp Ltd bought a new position in shares of Extra Space Storage Inc (NYSE:EXR - Free Report) during the 2nd quarter, according to its most recent filing with the SEC. The institutional investor bought 41,582 shares of the real estate investment trust's stock, valued at approximately $6,042,000.
A number of other institutional investors have also added to or reduced their stakes in the business. Reflection Asset Management purchased a new stake in shares of Extra Space Storage in the 4th quarter worth approximately $26,000. Caitong International Asset Management Co. Ltd bought a new position in shares of Extra Space Storage during the third quarter valued at approximately $28,000. Cassaday & Co Wealth Management LLC bought a new position in shares of Extra Space Storage during the first quarter valued at approximately $30,000. CoreCap Advisors LLC increased its holdings in Extra Space Storage by 975.0% during the second quarter. CoreCap Advisors LLC now owns 258 shares of the real estate investment trust's stock valued at $37,000 after buying an additional 234 shares during the period. Finally, DV Equities LLC bought a new position in Extra Space Storage in the fourth quarter worth approximately $39,000. Hedge funds and other institutional investors own 99.11% of the company's stock.
Insiders Place Their Bets
In related news, EVP Gwyn Goodson Mcneal sold 3,300 shares of the company's stock in a transaction dated Thursday, June 11th. The stock was sold at an average price of $150.00, for a total transaction 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. This represents a 8.11% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. 0.96% of the stock is currently owned by company insiders.
Analyst Upgrades and Downgrades
A number of analysts have weighed in on EXR shares. UBS Group upped their target price on Extra Space Storage from $158.00 to $163.00 and gave the stock a "buy" rating in a report on Friday, July 10th. Weiss Ratings upgraded Extra Space Storage from a "hold (c)" rating to a "hold (c+)" rating in a report on Friday, August 7th. Bank of America raised Extra Space Storage from an "underperform" rating to a "neutral" rating and boosted their price target for the stock from $147.00 to $156.00 in a research report on Tuesday, June 16th. Truist Financial upped their price objective on Extra Space Storage from $140.00 to $148.00 and gave the stock a "hold" rating in a research note on Wednesday, June 17th. Finally, Scotiabank raised their price objective on Extra Space Storage from $157.00 to $158.00 and gave the company a "sector perform" rating in a research report on Tuesday. Six investment analysts have rated the stock with a Buy rating and ten have assigned a Hold rating to the company's stock. According to MarketBeat, the company currently has a consensus rating of "Hold" and a consensus target price of $147.87.
View Our Latest Research Report on Extra Space Storage
Extra Space Storage Trading Down 0.3%
NYSE:EXR opened at $147.53 on Friday. Extra Space Storage Inc has a 52 week low of $125.71 and a 52 week high of $158.88. The firm has a 50 day moving average of $147.37 and a 200 day moving average of $143.74. 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 capitalization of $31.17 billion, a price-to-earnings ratio of 32.57, a PEG ratio of 4.25 and a beta of 1.18.
Extra Space Storage (NYSE:EXR - Get Free Report) last announced its earnings results on Tuesday, July 28th. The real estate investment trust reported $1.25 earnings per share for the quarter, beating the consensus estimate of $1.16 by $0.09. The company had revenue of $874.15 million during the quarter, compared to the consensus estimate of $874.99 million. Extra Space Storage had a net margin of 27.80% and a return on equity of 6.70%. Extra Space Storage's revenue was up 3.9% compared to the same quarter last year. During the same period last year, the firm earned $2.05 earnings per share. Extra Space Storage has set its FY 2026 guidance at 8.250-8.400 EPS. As a group, sell-side analysts anticipate that Extra Space Storage Inc will post 8.32 earnings per share for the current fiscal year.
Extra Space Storage Announces Dividend
The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 30th. Stockholders of record on Tuesday, September 15th will be given a $1.62 dividend. The ex-dividend date of this dividend is Tuesday, September 15th. This represents a $6.48 dividend on an annualized basis and a dividend yield of 4.4%. Extra Space Storage's dividend payout ratio (DPR) is presently 143.05%.
About Extra Space Storage
(
Free Report)
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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