BNP Paribas Financial Markets Buys 68,254 Shares of Extra Space Storage Inc $EXR

Key Points

• BNP Paribas Financial Markets increased its stake in Extra Space Storage by 18.5% in the fourth quarter, buying 68,254 additional shares and bringing its total holding to 437,042 shares worth about $56.9 million.
• Wall Street remains cautious on EXR: analysts currently have a consensus rating of “Hold”, even though some firms recently raised price targets while Bank of America downgraded the stock to underperform.
• Extra Space Storage reported Q1 earnings of $1.14 per share, well below expectations, but revenue came in slightly ahead of estimates and the company also declared a quarterly dividend of $1.62 per share, yielding about 4.6%.

BNP Paribas Financial Markets lifted its stake in Extra Space Storage Inc (NYSE:EXR - Free Report) by 18.5% during the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 437,042 shares of the real estate investment trust's stock after buying an additional 68,254 shares during the quarter. BNP Paribas Financial Markets owned about 0.21% of Extra Space Storage worth $56,912,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also recently made changes to their positions in EXR. Avalon Trust Co purchased a new stake in shares of Extra Space Storage in the third quarter worth $28,000. Caitong International Asset Management Co. Ltd purchased a new stake in Extra Space Storage in the 3rd quarter worth $28,000. Rosenberg Matthew Hamilton raised its holdings 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 valued at $35,000 after acquiring an additional 217 shares during the period. Creative Financial Designs Inc. ADV lifted its position in shares of Extra Space Storage by 39.5% in the fourth quarter. Creative Financial Designs Inc. ADV now owns 325 shares of the real estate investment trust's stock valued at $42,000 after acquiring an additional 92 shares in the last quarter. Finally, Logan Capital Management Inc. lifted its position in shares of Extra Space Storage by 313.7% in the third quarter. Logan Capital Management Inc. now owns 302 shares of the real estate investment trust's stock valued at $43,000 after acquiring an additional 229 shares in the last quarter. 99.11% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

EXR has been the topic of several recent analyst reports. JPMorgan Chase & Co. lifted their target price on Extra Space Storage from $142.00 to $144.00 and gave the company a "neutral" rating in a research note on Monday, March 23rd. Barclays increased their price objective on shares of Extra Space Storage from $164.00 to $170.00 and gave the company an "overweight" rating in a report on Thursday, March 5th. Wells Fargo & Company lifted their price objective on shares of Extra Space Storage from $148.00 to $154.00 and gave the company an "overweight" rating in a research report on Monday. Bank of America downgraded 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 report on Thursday, February 5th. Finally, Weiss Ratings restated a "hold (c)" rating on shares of Extra Space Storage in a research report on Tuesday, April 21st. Five analysts have rated the stock with a Buy rating, nine have issued a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, Extra Space Storage has a consensus rating of "Hold" and an average target price of $152.29.

Insider Activity

In related news, CEO Joseph D. Margolis sold 7,500 shares of the stock in a transaction dated Friday, March 13th. The shares were sold at an average price of $142.08, for a total value of $1,065,600.00. Following the completion of the transaction, the chief executive officer owned 66,495 shares of the company's stock, valued at approximately $9,447,609.60. This trade represents a 10.14% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 0.96% of the company's stock.

Extra Space Storage Stock Up 1.3%

NYSE EXR opened at $142.18 on Wednesday. The stock has a 50 day moving average price of $139.34 and a 200-day moving average price of $138.53. Extra Space Storage Inc has a one year low of $125.71 and a one year high of $155.19. The company has a debt-to-equity ratio of 0.93, a quick ratio of 0.37 and a current ratio of 0.37. The company has a market capitalization of $30.04 billion, a P/E ratio of 31.88, a P/E/G ratio of 4.56 and a beta of 1.20.

Extra Space Storage (NYSE:EXR - Get Free Report) last announced its quarterly earnings results on Tuesday, April 28th. The real estate investment trust reported $1.14 earnings per share for the quarter, missing the consensus estimate of $2.01 by ($0.87). Extra Space Storage had a return on equity of 6.65% and a net margin of 27.66%.The business had revenue of $856.03 million during the quarter, compared to the consensus estimate of $851.35 million. During the same quarter in the prior year, the firm posted $2.00 EPS. The company's revenue for the quarter was up 4.4% on a year-over-year basis. Extra Space Storage has set its FY 2026 guidance at 8.050-8.350 EPS. As a group, equities analysts predict that Extra Space Storage Inc will post 8.23 EPS for the current fiscal year.

Extra Space Storage Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, June 30th. Stockholders of record on Monday, June 15th will be given a dividend of $1.62 per share. This represents a $6.48 annualized dividend and a dividend yield of 4.6%. The ex-dividend date is Monday, June 15th. Extra Space Storage's dividend payout ratio is currently 145.29%.

Extra Space Storage Company 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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