Bank of New York Mellon Corp bought a new position in Extra Space Storage Inc (NYSE:EXR - Free Report) in the 2nd quarter, according to the company in its most recent filing with the SEC. The institutional investor bought 1,236,755 shares of the real estate investment trust's stock, valued at approximately $179,700,000. Bank of New York Mellon Corp owned approximately 0.59% of Extra Space Storage at the end of the most recent reporting period.
Several other institutional investors and hedge funds also recently made changes to their positions in the company. Caitong International Asset Management Co. Ltd bought a new position in Extra Space Storage in the 3rd quarter valued at $28,000. Reflection Asset Management bought a new stake in Extra Space Storage in the fourth quarter worth about $26,000. Cassaday & Co Wealth Management LLC bought a new stake in Extra Space Storage in the first quarter worth about $30,000. CoreCap Advisors LLC boosted its stake in Extra Space Storage by 975.0% in the second quarter. CoreCap Advisors LLC now owns 258 shares of the real estate investment trust's stock valued at $37,000 after acquiring an additional 234 shares during the last quarter. Finally, DV Equities LLC purchased a new position in Extra Space Storage in the fourth quarter valued at about $39,000. Hedge funds and other institutional investors own 99.11% of the company's stock.
Extra Space Storage Price Performance
Extra Space Storage stock opened at $146.97 on Friday. The firm has a market capitalization of $31.05 billion, a P/E ratio of 32.44, a PEG ratio of 4.22 and a beta of 1.18. Extra Space Storage Inc has a one year low of $125.71 and a one year high of $158.88. The company has a debt-to-equity ratio of 0.96, a current ratio of 1.56 and a quick ratio of 1.56. The business has a fifty day moving average price of $147.31 and a 200-day moving average price of $143.76.
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 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.16 by $0.09. Extra Space Storage had a return on equity of 6.70% and a net margin of 27.80%.The business had revenue of $874.15 million for the quarter, compared to analysts' expectations of $874.99 million. During the same quarter in the prior year, the firm posted $2.05 EPS. The firm's quarterly 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. As a group, equities research analysts forecast that Extra Space Storage Inc will post 8.32 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. Investors of record on Tuesday, September 15th will be issued a dividend of $1.62 per share. This represents a $6.48 dividend on an annualized basis and a yield of 4.4%. The ex-dividend date of this dividend is Tuesday, September 15th. Extra Space Storage's dividend payout ratio is 143.05%.
Insider Transactions at Extra Space Storage
In other Extra Space Storage 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 position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 0.96% of the stock is owned by corporate insiders.
Analyst Upgrades and Downgrades
Several brokerages have recently issued reports on EXR. Wall Street Zen upgraded shares of Extra Space Storage from a "sell" rating to a "hold" rating in a research note on Sunday, August 9th. UBS Group upped their price objective on Extra Space Storage from $158.00 to $163.00 and gave the company a "buy" rating in a research note on Friday, July 10th. Wells Fargo & Company increased their price target on Extra Space Storage from $154.00 to $158.00 and gave the stock an "overweight" rating in a research note on Friday, July 24th. Truist Financial lifted their price objective on Extra Space Storage from $140.00 to $148.00 and gave the stock a "hold" rating in a report on Wednesday, June 17th. Finally, Mizuho boosted their price objective on Extra Space Storage from $150.00 to $155.00 and gave the company an "outperform" rating in a research note on Wednesday, May 27th. Six analysts have rated the stock with a Buy rating and nine have assigned a Hold rating to the company. Based on data from MarketBeat, the stock presently has an average rating of "Hold" and a consensus target price of $147.71.
Check Out Our Latest Analysis on EXR
Extra Space Storage Company Profile
(
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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