BI Asset Management Fondsmaeglerselskab A S Trims Stake in Extra Space Storage Inc $EXR

Key Points

• BI Asset Management reduced its stake in Extra Space Storage by 73% in the first quarter, leaving it with 3,358 shares worth about $440,000.
• Analyst sentiment is mixed: Bank of America upgraded EXR to neutral, while other firms adjusted targets higher or kept hold/buy views. The stock’s consensus rating is Hold with an average price target of $153.07.
• Extra Space Storage recently reported Q1 EPS of $1.14, missing expectations, though revenue came in slightly above estimates. The company also declared a quarterly dividend of $1.62 per share, implying a 4.4% yield.

BI Asset Management Fondsmaeglerselskab A S cut its position in Extra Space Storage Inc (NYSE:EXR - Free Report) by 73.0% in the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 3,358 shares of the real estate investment trust's stock after selling 9,081 shares during the quarter. BI Asset Management Fondsmaeglerselskab A S's holdings in Extra Space Storage were worth $440,000 at the end of the most recent quarter.

A number of other hedge funds have also recently added to or reduced their stakes in the company. Norges Bank acquired a new stake in shares of Extra Space Storage in the fourth quarter valued at approximately $1,219,606,000. Capital International Investors increased its holdings in shares of Extra Space Storage by 73.9% in the 4th quarter. Capital International Investors now owns 6,256,687 shares of the real estate investment trust's stock valued at $814,746,000 after acquiring an additional 2,658,947 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its holdings in shares of 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 acquiring an additional 1,969,013 shares during the period. Cohen & Steers Inc. raised its position in Extra Space Storage by 13.4% in the 4th 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 purchasing an additional 1,888,763 shares during the last quarter. Finally, Resolution Capital Ltd raised its position in Extra Space Storage by 116.2% in the 2nd quarter. Resolution Capital Ltd now owns 1,950,842 shares of the real estate investment trust's stock valued at $287,632,000 after purchasing an additional 1,048,685 shares during the last quarter. Hedge funds and other institutional investors own 99.11% of the company's stock.

Analyst Ratings Changes

EXR has been the subject of a number of recent research reports. Bank of America upgraded shares of Extra Space Storage from an "underperform" rating to a "neutral" rating and increased their price target for the stock from $147.00 to $156.00 in a research note on Tuesday, June 16th. Wall Street Zen lowered shares of Extra Space Storage from a "hold" rating to a "sell" rating in a research note on Saturday, June 13th. UBS Group upped their target price on shares of Extra Space Storage from $148.00 to $158.00 and gave the company a "buy" rating in a report on Monday, May 18th. Truist Financial increased their target price on shares of 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, Weiss Ratings reissued a "hold (c)" rating on shares of Extra Space Storage in a report on Tuesday, April 21st. Five research analysts have rated the stock with a Buy rating and ten have issued a Hold rating to the company. According to MarketBeat.com, the stock presently has an average rating of "Hold" and a consensus price target of $153.07.

Insider Transactions at Extra Space Storage

In related news, EVP Gwyn Goodson Mcneal sold 3,300 shares of the firm's stock in a transaction dated Thursday, June 11th. The shares were sold at an average price of $150.00, for a total value of $495,000.00. Following the completion of the sale, the executive vice president owned 37,374 shares in the company, valued at $5,606,100. This trade represents a 8.11% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 0.96% of the stock is owned by corporate insiders.

Extra Space Storage Price Performance

Shares of NYSE EXR opened at $147.03 on Friday. The company has a debt-to-equity ratio of 0.93, a current ratio of 0.37 and a quick ratio of 0.37. The stock has a fifty day moving average price of $143.94 and a 200 day moving average price of $140.41. Extra Space Storage Inc has a 1-year low of $125.71 and a 1-year high of $155.19. The company has a market cap of $31.06 billion, a PE ratio of 32.97, a P/E/G ratio of 4.52 and a beta of 1.20.

Extra Space Storage (NYSE:EXR - Get Free Report) last announced its quarterly earnings data on Tuesday, April 28th. The real estate investment trust reported $1.14 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.01 by ($0.87). Extra Space Storage had a net margin of 27.66% and a return on equity of 6.65%. The firm had revenue of $856.03 million during the quarter, compared to analyst estimates of $851.35 million. During the same period in the prior year, the firm posted $2.00 earnings per share. The business's quarterly revenue was up 4.4% compared to the same quarter last year. Extra Space Storage has set its FY 2026 guidance at 8.050-8.350 EPS. Sell-side analysts forecast that Extra Space Storage Inc will post 8.26 EPS for the current year.

Extra Space Storage Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, June 30th. Investors of record on Monday, June 15th will be issued a dividend of $1.62 per share. This represents a $6.48 annualized dividend and a yield of 4.4%. The ex-dividend date of this dividend is Monday, June 15th. Extra Space Storage's dividend payout ratio is currently 145.29%.

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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