Bank of Nova Scotia acquired a new stake in Extra Space Storage Inc (NYSE:EXR - Free Report) during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 51,025 shares of the real estate investment trust's stock, valued at approximately $7,434,000.
Other institutional investors and hedge funds have also made changes to their positions in the company. BlackRock Inc. acquired a new stake in shares of Extra Space Storage during the second quarter worth about $3,334,263,000. Norges Bank purchased a new stake in shares of Extra Space Storage during the fourth quarter worth approximately $1,219,606,000. Capital International Investors lifted its holdings in shares of Extra Space Storage by 73.9% during 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 grew its position in Extra Space Storage by 900.0% in the 3rd quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 2,187,795 shares of the real estate investment trust's stock valued at $308,348,000 after buying an additional 1,969,013 shares during the last quarter. Finally, Cohen & Steers Inc. boosted its holdings 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 acquiring an additional 1,888,763 shares in the last quarter. 99.11% of the stock is owned by hedge funds and other institutional investors.
Insider Activity
In other news, EVP Gwyn Goodson Mcneal sold 3,300 shares of Extra Space Storage stock in a transaction dated Thursday, June 11th. The shares were sold at an average price of $150.00, for a total transaction of $495,000.00. Following the completion of the sale, the executive vice president directly owned 37,374 shares in the company, 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 SEC, which is available through the SEC website. 0.96% of the stock is owned by corporate insiders.
Analyst Ratings Changes
Several research analysts recently issued reports on the stock. Wall Street Zen raised shares of Extra Space Storage from a "sell" rating to a "hold" rating in a report on Sunday, August 9th. The Goldman Sachs Group reaffirmed a "neutral" rating and issued a $160.00 price objective on shares of Extra Space Storage in a report on Thursday, July 30th. Wells Fargo & Company upped their price objective on Extra Space Storage from $154.00 to $158.00 and gave the stock an "overweight" rating in a report on Friday, July 24th. Mizuho increased their price objective 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. Finally, Scotiabank increased their price objective on Extra Space Storage from $157.00 to $158.00 and gave the stock a "sector perform" rating in a research report on Tuesday, August 18th. Six research analysts have rated the stock with a Buy rating and ten have assigned a Hold rating to the company's stock. Based on data from MarketBeat, Extra Space Storage currently has an average rating of "Hold" and a consensus price target of $148.53.
View Our Latest Report on Extra Space Storage
Extra Space Storage Price Performance
EXR stock opened at $146.28 on Tuesday. The stock's 50 day moving average price is $147.30 and its 200 day moving average price is $143.88. The firm has a market cap of $30.91 billion, a P/E ratio of 32.29, a PEG ratio of 4.22 and a beta of 1.18. 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 1 year low of $125.71 and a 1 year high of $158.88.
Extra Space Storage (NYSE:EXR - Get Free Report) last released its quarterly earnings results on Tuesday, July 28th. The real estate investment trust reported $1.25 earnings per share 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 company had revenue of $874.15 million during the quarter, compared to analysts' expectations of $874.99 million. During the same period in the previous year, the firm posted $2.05 earnings per share. The business's revenue for the quarter was up 3.9% compared to the same quarter last year. Extra Space Storage has set its FY 2026 guidance at 8.250-8.400 EPS. On average, sell-side analysts expect that Extra Space Storage Inc will post 8.32 earnings per share for the current fiscal year.
Extra Space Storage Announces Dividend
The company also recently announced a quarterly dividend, which will be paid on Wednesday, September 30th. Shareholders of record on Tuesday, September 15th will be issued a $1.62 dividend. This represents a $6.48 dividend on an annualized basis and a yield of 4.4%. The ex-dividend date is Tuesday, September 15th. Extra Space Storage's dividend payout ratio is 143.05%.
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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