California State Teachers Retirement System Acquires 40,005,054 Shares of Extra Space Storage Inc $EXR

Key Points

• California State Teachers Retirement System increased its Extra Space Storage stake by 40.0 million shares to 40.3 million shares, representing 19.07% ownership valued at approximately $5.86 billion.
• Extra Space Storage reported quarterly EPS of $1.25, exceeding estimates of $1.16, while revenue rose 3.9% year over year to $874.15 million. The company guided to fiscal 2026 EPS of $8.25–$8.40.
• The REIT declared a quarterly dividend of $1.62 per share, or $6.48 annually, implying a 4.8% yield. Analysts collectively rate the stock “Hold,” with an average price target of $148.93.

California State Teachers Retirement System lifted its stake in Extra Space Storage Inc (NYSE:EXR - Free Report) by 13,598.3% in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 40,299,246 shares of the real estate investment trust's stock after purchasing an additional 40,005,054 shares during the period. California State Teachers Retirement System owned 19.07% of Extra Space Storage worth $5,855,480,000 at the end of the most recent reporting period.

Other institutional investors also recently bought and sold shares of the company. Reflection Asset Management bought a new stake in Extra Space Storage during the fourth quarter valued at about $26,000. Raiffeisen Bank International AG increased its position in Extra Space Storage by 82.4% in the second quarter. Raiffeisen Bank International AG now owns 186 shares of the real estate investment trust's stock worth $28,000 after buying an additional 84 shares in the last quarter. Caitong International Asset Management Co. Ltd bought a new position in shares of Extra Space Storage in the third quarter worth about $28,000. Cassaday & Co Wealth Management LLC bought a new position in shares of Extra Space Storage in the first quarter worth about $30,000. Finally, CoreCap Advisors LLC raised its stake in shares of 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 worth $37,000 after buying an additional 234 shares during the period. 99.11% of the stock is owned by institutional investors.

Extra Space Storage Stock Performance

NYSE:EXR opened at $135.81 on Thursday. The stock has a 50-day moving average price of $145.95 and a 200 day moving average price of $143.66. The stock has a market capitalization of $28.69 billion, a P/E ratio of 29.98, a P/E/G ratio of 4.00 and a beta of 1.16. Extra Space Storage Inc has a 12-month low of $125.71 and a 12-month high of $158.88. The company has a current ratio of 1.56, a quick ratio of 1.56 and a debt-to-equity ratio of 0.96.

Extra Space Storage (NYSE:EXR - Get Free Report) last posted its quarterly earnings results on Tuesday, July 28th. The real estate investment trust reported $1.25 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 company had revenue of $874.15 million for the quarter, compared to analysts' expectations of $874.99 million. During the same period in the previous year, the firm earned $2.05 EPS. The firm's revenue 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. Equities research analysts forecast that Extra Space Storage Inc will post 8.33 EPS for the current fiscal year.

Extra Space Storage Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, September 30th. Investors of record on Tuesday, September 15th will be given a dividend of $1.62 per share. The ex-dividend date is Tuesday, September 15th. This represents a $6.48 dividend on an annualized basis and a dividend yield of 4.8%. Extra Space Storage's dividend payout ratio is currently 143.05%.

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on EXR shares. Wells Fargo & Company cut their price objective on Extra Space Storage from $158.00 to $157.00 and set an "overweight" rating for the company in a research note on Tuesday, September 1st. BMO Capital Markets raised shares of Extra Space Storage from a "market perform" rating to an "outperform" rating and increased their target price for the stock from $160.00 to $170.00 in a report on Thursday, August 27th. Raymond James Financial assumed coverage on shares of Extra Space Storage in a research note on Thursday, July 16th. They set an "outperform" rating and a $44.00 target price on the stock. Scotiabank upped their price target on shares of 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. Finally, Royal Bank Of Canada increased their price objective on shares of Extra Space Storage from $153.00 to $157.00 and gave the stock a "sector perform" rating in a research note on Thursday, July 30th. Seven research analysts have rated the stock with a Buy rating and nine have given a Hold rating to the company's stock. Based on data from MarketBeat, Extra Space Storage currently has an average rating of "Hold" and an average target price of $148.93.

About Extra Space Storage

Extra Space Storage Inc is a real estate investment trust (REIT) that owns, operates, manages and acquires self-storage facilities. Its properties provide individuals and businesses with rental storage units in a range of sizes, along with vehicle, boat and recreational vehicle storage at select locations.

The company also provides third-party management services for self-storage properties owned by other investors and operators. Its services generally include facility operations, marketing, customer support, revenue management and technology solutions.

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