Bayhunt Capital LLC Takes Position in Extra Space Storage Inc $EXR

Key Points

• Bayhunt Capital LLC purchased a new stake of 112,504 shares of Extra Space Storage (NYSE:EXR) in Q4 valued at about $14.65 million, making EXR 8.1% of Bayhunt's portfolio and its fourth-largest holding.
• EXR beat Q4 expectations with $2.08 EPS (vs. $2.03 consensus) and $857.5M revenue (vs. $732.9M), and set FY2026 guidance of 8.05–8.35 EPS; the company trades at a P/E around 30 with a market cap near $29.3 billion.
• The firm pays a quarterly dividend of $1.62 ($6.48 annualized, yield ~4.7%) but has a high dividend payout ratio (~141%), and CEO Joseph Margolis sold 7,500 shares in March, reducing his stake by about 10%.

Bayhunt Capital LLC purchased a new stake in Extra Space Storage Inc (NYSE:EXR - Free Report) during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 112,504 shares of the real estate investment trust's stock, valued at approximately $14,650,000. Extra Space Storage comprises 8.1% of Bayhunt Capital LLC's investment portfolio, making the stock its 4th biggest position. Bayhunt Capital LLC owned approximately 0.05% of Extra Space Storage at the end of the most recent quarter.

Other large investors have also modified their holdings of the company. Avalon Trust Co acquired a new stake in shares of Extra Space Storage in the third quarter valued at approximately $28,000. Caitong International Asset Management Co. Ltd acquired a new stake in Extra Space Storage during the third quarter worth approximately $28,000. Versant Capital Management Inc boosted its position in Extra Space Storage by 60.2% during the third quarter. Versant Capital Management Inc now owns 213 shares of the real estate investment trust's stock worth $30,000 after acquiring an additional 80 shares during the last quarter. Davis Capital Management acquired a new stake in Extra Space Storage during the third quarter worth approximately $35,000. Finally, Rosenberg Matthew Hamilton boosted its position in Extra Space Storage by 442.9% during the fourth quarter. Rosenberg Matthew Hamilton now owns 266 shares of the real estate investment trust's stock worth $35,000 after acquiring an additional 217 shares during the last quarter. 99.11% of the stock is currently owned by institutional investors and hedge funds.

Extra Space Storage Stock Down 0.4%

Shares of NYSE EXR opened at $138.68 on Friday. Extra Space Storage Inc has a 1 year low of $125.71 and a 1 year high of $155.19. The firm's 50 day moving average price is $140.57 and its 200 day moving average price is $138.43. The firm has a market cap of $29.29 billion, a P/E ratio of 30.15, a price-to-earnings-growth ratio of 2.79 and a beta of 1.26. The company has a debt-to-equity ratio of 0.92, a quick ratio of 0.39 and a current ratio of 0.39.

Extra Space Storage (NYSE:EXR - Get Free Report) last posted its quarterly earnings results on Thursday, February 19th. The real estate investment trust reported $2.08 earnings per share for the quarter, topping analysts' consensus estimates of $2.03 by $0.05. The company had revenue of $857.47 million for the quarter, compared to the consensus estimate of $732.92 million. Extra Space Storage had a net margin of 28.84% and a return on equity of 6.79%. Extra Space Storage's revenue was up 4.3% on a year-over-year basis. During the same quarter last year, the firm posted $2.03 earnings per share. Extra Space Storage has set its FY 2026 guidance at 8.050-8.350 EPS. As a group, sell-side analysts anticipate that Extra Space Storage Inc will post 8.1 earnings per share for the current year.

Extra Space Storage Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, March 31st. Shareholders of record on Monday, March 16th were paid a dividend of $1.62 per share. The ex-dividend date of this dividend was Monday, March 16th. This represents a $6.48 dividend on an annualized basis and a yield of 4.7%. Extra Space Storage's dividend payout ratio (DPR) is currently 140.87%.

Analyst Ratings Changes

A number of analysts recently issued reports on the stock. Mizuho raised their target price on shares of Extra Space Storage from $137.00 to $143.00 and gave the stock an "outperform" rating in a research report on Monday, January 12th. Wall Street Zen upgraded shares of Extra Space Storage from a "sell" rating to a "hold" rating in a research report on Saturday, April 4th. Scotiabank raised their target price on shares of Extra Space Storage from $145.00 to $156.00 and gave the stock a "sector perform" rating in a research report on Monday, March 2nd. Weiss Ratings restated a "hold (c)" rating on shares of Extra Space Storage in a research report on Thursday, January 22nd. Finally, Bank of America lowered shares of Extra Space Storage from a "neutral" rating to an "underperform" rating and set a $143.00 target price on the stock. in a research report on Thursday, February 5th. Six investment analysts have rated the stock with a Buy rating, nine have assigned a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, Extra Space Storage has an average rating of "Hold" and an average target price of $143.80.

Insiders Place Their Bets

In other Extra Space Storage news, CEO Joseph D. Margolis sold 7,500 shares of the stock in a transaction that occurred on Friday, March 13th. The shares were sold at an average price of $142.08, for a total transaction of $1,065,600.00. Following the transaction, the chief executive officer owned 66,495 shares of the company's stock, valued at $9,447,609.60. This trade represents a 10.14% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 0.96% of the stock is currently owned by corporate insiders.

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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