Capital International Investors Purchases 2,658,947 Shares of Extra Space Storage Inc $EXR

Key Points

• Capital International Investors boosted its Extra Space Storage stake by 73.9% in the fourth quarter, buying 2,658,947 shares and bringing its total holding to 6.26 million shares worth about $814.7 million.
• Extra Space Storage reported Q1 earnings of $1.14 per share, missing analyst expectations, while revenue came in at $856.0 million and rose 4.4% year over year.
• The REIT announced a quarterly dividend of $1.62 per share, implying a 4.5% annualized yield, even as its payout ratio remains high at 145.29%.

Capital International Investors raised its position in Extra Space Storage Inc (NYSE:EXR - Free Report) by 73.9% during the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm owned 6,256,687 shares of the real estate investment trust's stock after acquiring an additional 2,658,947 shares during the quarter. Capital International Investors owned approximately 2.95% of Extra Space Storage worth $814,746,000 at the end of the most recent quarter.

A number of other institutional investors also recently bought and sold shares of EXR. NewEdge Advisors LLC increased its position in Extra Space Storage by 9.3% in the first quarter. NewEdge Advisors LLC now owns 3,409 shares of the real estate investment trust's stock worth $506,000 after buying an additional 291 shares in the last quarter. Empowered Funds LLC increased its position in Extra Space Storage by 15.5% in the first quarter. Empowered Funds LLC now owns 4,912 shares of the real estate investment trust's stock worth $729,000 after buying an additional 661 shares in the last quarter. Sivia Capital Partners LLC purchased a new stake in Extra Space Storage in the second quarter worth about $457,000. First Trust Advisors LP increased its position in Extra Space Storage by 184.1% in the second quarter. First Trust Advisors LP now owns 108,205 shares of the real estate investment trust's stock worth $15,954,000 after buying an additional 70,115 shares in the last quarter. Finally, Brown Advisory Inc. increased its position in Extra Space Storage by 1.8% in the second quarter. Brown Advisory Inc. now owns 4,431 shares of the real estate investment trust's stock worth $653,000 after buying an additional 80 shares in the last quarter. Institutional investors own 99.11% of the company's stock.

Extra Space Storage Stock Up 0.0%

Shares of NYSE:EXR opened at $145.34 on Monday. The company has a market cap of $30.71 billion, a price-to-earnings ratio of 32.59, a PEG ratio of 4.72 and a beta of 1.20. Extra Space Storage Inc has a 12 month low of $125.71 and a 12 month high of $155.19. The company has a current ratio of 0.37, a quick ratio of 0.37 and a debt-to-equity ratio of 0.93. The company has a 50-day moving average price of $140.43 and a 200 day moving average price of $138.87.

Extra Space Storage (NYSE:EXR - Get Free Report) last released its 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). The company had revenue of $856.03 million for the quarter, compared to the consensus estimate of $851.35 million. Extra Space Storage had a net margin of 27.66% and a return on equity of 6.65%. The business's revenue for the quarter was up 4.4% compared to the same quarter last year. During the same period in the prior year, the firm posted $2.00 EPS. Extra Space Storage has set its FY 2026 guidance at 8.050-8.350 EPS. As a group, equities research analysts predict that Extra Space Storage Inc will post 8.24 earnings per share for the current year.

Extra Space Storage Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 30th. Shareholders of record on Monday, June 15th will be given a $1.62 dividend. This represents a $6.48 annualized dividend and a yield of 4.5%. The ex-dividend date of this dividend is Monday, June 15th. Extra Space Storage's payout ratio is 145.29%.

Wall Street Analyst Weigh In

EXR has been the subject of a number of analyst reports. Scotiabank upped their price target on 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. 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. Truist Financial decreased their target price on Extra Space Storage from $158.00 to $150.00 and set a "hold" rating on the stock in a research note on Wednesday, May 6th. Royal Bank Of Canada lifted their target price on Extra Space Storage from $142.00 to $153.00 and gave the company a "sector perform" rating in a research note on Monday, February 23rd. Finally, UBS Group lifted their target price on Extra Space Storage from $148.00 to $158.00 and gave the company a "buy" rating in a research note on Monday, May 18th. Five research analysts have rated the stock with a Buy rating, nine have issued a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the company currently has an average rating of "Hold" and a consensus target price of $152.29.

Insider Transactions at Extra Space Storage

In other Extra Space Storage news, CEO Joseph D. Margolis sold 7,500 shares of the business's 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 sale, the chief executive officer directly owned 66,495 shares of the company's stock, valued at $9,447,609.60. The trade was a 10.14% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.96% of the stock is currently owned by company 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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