Extra Space Storage Inc $EXR Shares Acquired by First Eagle Investment Management LLC

Key Points

• First Eagle Investment Management increased its stake in Extra Space Storage by 61.8% in the fourth quarter, ending with 2.55 million shares worth about $332.3 million.
• Wall Street sentiment is mixed: several firms adjusted price targets, but the consensus rating remains Hold with an average target of $143.93 per share.
• The company recently reported Q1 earnings below expectations, with EPS of $1.14 versus the $2.01 estimate, while revenue came in slightly above forecast at $856.03 million.

First Eagle Investment Management LLC increased its holdings in shares of Extra Space Storage Inc (NYSE:EXR - Free Report) by 61.8% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 2,552,053 shares of the real estate investment trust's stock after buying an additional 974,804 shares during the quarter. First Eagle Investment Management LLC owned 1.20% of Extra Space Storage worth $332,328,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also modified their holdings of EXR. Avalon Trust Co purchased a new position in shares of Extra Space Storage during the third quarter valued at $28,000. Caitong International Asset Management Co. Ltd purchased a new position in shares of Extra Space Storage during the third quarter valued at $28,000. Versant Capital Management Inc grew its holdings in shares of Extra Space Storage by 60.2% during the third quarter. Versant Capital Management Inc now owns 213 shares of the real estate investment trust's stock valued at $30,000 after buying an additional 80 shares in the last quarter. Rosenberg Matthew Hamilton grew its holdings in shares of 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 buying an additional 217 shares in the last quarter. Finally, Logan Capital Management Inc. grew its holdings in shares of Extra Space Storage by 313.7% during the third quarter. Logan Capital Management Inc. now owns 302 shares of the real estate investment trust's stock valued at $43,000 after buying an additional 229 shares in the last quarter. Hedge funds and other institutional investors own 99.11% of the company's stock.

Analysts Set New Price Targets

A number of brokerages have recently weighed in on EXR. Bank of America downgraded Extra Space Storage from a "neutral" rating to an "underperform" rating and set a $143.00 price target on the stock. in a report on Thursday, February 5th. Barclays lifted their price target on 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 lowered their price target on Extra Space Storage from $150.00 to $148.00 and set an "overweight" rating on the stock in a report on Thursday, April 16th. Wall Street Zen downgraded Extra Space Storage from a "hold" rating to a "sell" rating in a report on Saturday, April 25th. Finally, JPMorgan Chase & Co. boosted 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. Six analysts have rated the stock with a Buy rating, nine have given a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of "Hold" and an average price target of $143.93.

Insider Buying and Selling at Extra Space Storage

In other news, CEO Joseph D. Margolis sold 7,500 shares of the company'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 completion of the sale, the chief executive officer owned 66,495 shares in the company, valued at approximately $9,447,609.60. This represents a 10.14% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 0.96% of the stock is owned by corporate insiders.

Extra Space Storage Stock Performance

Shares of NYSE EXR opened at $144.60 on Tuesday. The business's 50-day moving average price is $139.83 and its two-hundred day moving average price is $138.15. The company has a debt-to-equity ratio of 0.93, a current ratio of 0.37 and a quick ratio of 0.37. Extra Space Storage Inc has a one year low of $125.71 and a one year high of $155.19. The company has a market capitalization of $30.55 billion, a P/E ratio of 32.42, a price-to-earnings-growth ratio of 4.66 and a beta of 1.22.

Extra Space Storage (NYSE:EXR - Get Free Report) last issued its earnings results on Tuesday, April 28th. The real estate investment trust reported $1.14 EPS for the quarter, missing analysts' consensus estimates 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 analysts' expectations of $851.35 million. During the same quarter last year, the firm earned $2.00 EPS. The business's revenue for the quarter 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. Analysts anticipate that Extra Space Storage Inc will post 8.23 earnings per share for the current fiscal year.

Extra Space Storage Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, March 31st. Shareholders of record on Monday, March 16th were paid a $1.62 dividend. The ex-dividend date was Monday, March 16th. This represents a $6.48 dividend on an annualized basis and a yield of 4.5%. Extra Space Storage's payout ratio is 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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