Alyeska Investment Group L.P. Raises Stake in Extra Space Storage Inc $EXR

Key Points

• Alyeska Investment Group increased its Extra Space Storage stake by 379% in the second quarter, holding 815,890 shares valued at approximately $118.5 million. Institutional investors collectively own 99.11% of the company.
• Analysts maintain a generally cautious outlook, with seven Buy ratings and nine Hold ratings producing a consensus “Hold” rating and average price target of $149.20.
• Extra Space Storage exceeded quarterly EPS expectations, reporting $1.25 versus the $1.16 consensus estimate, while revenue rose 3.9% year over year. The company also announced a $1.62 quarterly dividend, equivalent to a 4.5% annualized yield.

Alyeska Investment Group L.P. boosted its stake in Extra Space Storage Inc (NYSE:EXR - Free Report) by 379.0% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 815,890 shares of the real estate investment trust's stock after purchasing an additional 645,548 shares during the quarter. Alyeska Investment Group L.P. owned approximately 0.39% of Extra Space Storage worth $118,549,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also added to or reduced their stakes in the stock. BlackRock Inc. bought a new position in Extra Space Storage in the 2nd quarter valued at $3,334,263,000. Norges Bank bought a new position in shares of Extra Space Storage in the fourth quarter worth $1,219,606,000. Capital International Investors increased its holdings in shares of 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 worth $814,746,000 after purchasing an additional 2,658,947 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its position in shares of Extra Space Storage by 24,295.0% in the second quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 2,241,413 shares of the real estate investment trust's stock worth $325,677,000 after buying an additional 2,232,225 shares in the last quarter. Finally, Legal & General Group Plc purchased a new stake in shares of Extra Space Storage in the second quarter worth $299,746,000. Hedge funds and other institutional investors own 99.11% of the company's stock.

Analysts Set New Price Targets

EXR has been the subject of several recent analyst reports. Mizuho boosted their target price on Extra Space Storage from $150.00 to $155.00 and gave the stock an "outperform" rating in a research report on Wednesday, May 27th. Raymond James Financial began coverage on Extra Space Storage in a report on Thursday, July 16th. They issued an "outperform" rating and a $44.00 price target on the stock. Barclays upped their price objective on shares of Extra Space Storage from $170.00 to $172.00 and gave the stock an "overweight" rating in a research report on Friday, July 10th. Royal Bank Of Canada raised their target price on shares of Extra Space Storage from $153.00 to $157.00 and gave the company a "sector perform" rating in a research note on Thursday, July 30th. Finally, The Goldman Sachs Group reissued a "neutral" rating and issued a $160.00 price target on shares of Extra Space Storage in a research note on Thursday, July 30th. Seven investment analysts have rated the stock with a Buy rating and nine have given a Hold rating to the company's stock. According to data from MarketBeat, the company currently has a consensus rating of "Hold" and an average target price of $149.20.

Insider Activity at Extra Space Storage

In related news, EVP Gwyn Goodson Mcneal sold 3,300 shares of Extra Space Storage stock in a transaction 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 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 ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 0.96% of the stock is currently owned by insiders.

Extra Space Storage Price Performance

Shares of Extra Space Storage stock opened at $142.93 on Friday. The company has a debt-to-equity ratio of 0.96, a quick ratio of 1.56 and a current ratio of 1.56. Extra Space Storage Inc has a 52-week low of $125.71 and a 52-week high of $158.88. The company has a fifty day moving average of $147.18 and a 200-day moving average of $143.95. The stock has a market capitalization of $30.20 billion, a price-to-earnings ratio of 31.55, a price-to-earnings-growth ratio of 4.10 and a beta of 1.18.

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

Extra Space Storage Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, September 30th. Stockholders of record on Tuesday, September 15th will be issued a $1.62 dividend. The ex-dividend date is Tuesday, September 15th. This represents a $6.48 annualized dividend and a dividend yield of 4.5%. Extra Space Storage's dividend payout ratio (DPR) is currently 143.05%.

Extra Space Storage 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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