Deutsche Bank AG Sells 21,137 Shares of Extra Space Storage Inc $EXR

Key Points

• Deutsche Bank AG reduced its Extra Space Storage stake by 0.9% in the fourth quarter, selling 21,137 shares and ending with 2.26 million shares valued at about $294.6 million.
• Extra Space Storage reported Q1 earnings of $1.14 per share, well below the $2.01 consensus estimate, though revenue of $856.03 million slightly beat expectations and rose 4.4% year over year.
• The company declared a quarterly dividend of $1.62 per share for a 4.3% yield, while analysts currently rate the stock a consensus Hold with an average target price of $152.29.

Deutsche Bank AG trimmed its stake in Extra Space Storage Inc (NYSE:EXR - Free Report) by 0.9% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 2,262,338 shares of the real estate investment trust's stock after selling 21,137 shares during the period. Deutsche Bank AG owned 1.07% of Extra Space Storage worth $294,602,000 at the end of the most recent quarter.

Several other large investors have also recently made changes to their positions in the stock. Vanguard Group Inc. raised its position in shares of Extra Space Storage by 0.5% in the 3rd quarter. Vanguard Group Inc. now owns 34,430,823 shares of the real estate investment trust's stock worth $4,852,680,000 after acquiring an additional 161,171 shares in the last quarter. State Street Corp raised its position in shares of Extra Space Storage by 1.7% in the 3rd quarter. State Street Corp now owns 13,910,878 shares of the real estate investment trust's stock worth $1,960,599,000 after acquiring an additional 230,697 shares in the last quarter. Norges Bank bought a new position in shares of Extra Space Storage in the 4th quarter worth $1,219,606,000. Capital World Investors raised its position in shares of Extra Space Storage by 0.5% in the 3rd quarter. Capital World Investors now owns 7,161,360 shares of the real estate investment trust's stock worth $1,009,371,000 after acquiring an additional 33,622 shares in the last quarter. Finally, Capital International Investors raised its position 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 worth $814,746,000 after acquiring an additional 2,658,947 shares in the last quarter. 99.11% of the stock is owned by institutional investors.

Extra Space Storage Stock Up 1.1%

Extra Space Storage stock opened at $149.85 on Thursday. 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 business's 50-day simple moving average is $141.54 and its two-hundred day simple moving average is $139.25. The company has a market cap of $31.66 billion, a PE ratio of 33.60, a PEG ratio of 4.81 and a beta of 1.20. Extra Space Storage Inc has a fifty-two week low of $125.71 and a fifty-two week high of $155.19.

Extra Space Storage (NYSE:EXR - Get Free Report) last posted 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). The firm had revenue of $856.03 million for the quarter, compared to analysts' expectations of $851.35 million. Extra Space Storage had a net margin of 27.66% and a return on equity of 6.65%. The firm's revenue for the quarter was up 4.4% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $2.00 EPS. Extra Space Storage has set its FY 2026 guidance at 8.050-8.350 EPS. Equities analysts anticipate that Extra Space Storage Inc will post 8.24 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. Shareholders of record on Monday, June 15th will be paid a dividend of $1.62 per share. This represents a $6.48 annualized dividend and a yield of 4.3%. The ex-dividend date is Monday, June 15th. Extra Space Storage's payout ratio is presently 145.29%.

Analyst Ratings Changes

Several research analysts recently issued reports on EXR shares. Wells Fargo & Company upped their target price on Extra Space Storage from $148.00 to $154.00 and gave the company an "overweight" rating in a research report on Monday, June 1st. Truist Financial reduced their target price on Extra Space Storage from $158.00 to $150.00 and set a "hold" rating on the stock in a research report on Wednesday, May 6th. Weiss Ratings reaffirmed a "hold (c)" rating on shares of Extra Space Storage in a research report on Tuesday, April 21st. BNP Paribas Exane raised Extra Space Storage from a "neutral" rating to an "outperform" rating and set a $154.00 target price on the stock in a research report on Wednesday, March 18th. Finally, UBS Group upped their target price on Extra Space Storage from $148.00 to $158.00 and gave the company a "buy" rating in a research report on Monday, May 18th. Five investment analysts have rated the stock with a Buy rating, nine have given a Hold rating and one has assigned a Sell rating to the company's stock. According to data from MarketBeat.com, the stock presently has an average rating of "Hold" and an average target price of $152.29.

Insiders Place Their Bets

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 stock was sold at an average price of $142.08, for a total transaction of $1,065,600.00. Following the sale, the chief executive officer owned 66,495 shares in the company, valued at approximately $9,447,609.60. The trade was a 10.14% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 0.96% of the company's stock.

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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