Extra Space Storage Inc $EXR Shares Acquired by Goldman Sachs Group Inc.

Key Points

• Goldman Sachs increased its stake in Extra Space Storage by 6.3% in the fourth quarter, ending with 2.28 million shares worth about $297.1 million and representing 1.07% ownership.
• Extra Space Storage reported mixed quarterly results, with revenue of $856.0 million topping expectations but EPS of $1.14 missing the $2.01 consensus estimate. The company also raised/issued FY 2026 guidance of $8.05 to $8.35 per share.
• The REIT declared a quarterly dividend of $1.62 per share, payable June 30, for an annualized yield of about 4.5%. Analysts currently have a consensus Hold rating on the stock with an average price target of $152.29.

Goldman Sachs Group Inc. lifted its position in shares of Extra Space Storage Inc (NYSE:EXR - Free Report) by 6.3% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 2,281,558 shares of the real estate investment trust's stock after acquiring an additional 135,558 shares during the quarter. Goldman Sachs Group Inc. owned 1.07% of Extra Space Storage worth $297,105,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also made changes to their positions in the company. Avalon Trust Co acquired a new position in Extra Space Storage during the third quarter worth about $28,000. Caitong International Asset Management Co. Ltd acquired a new position in Extra Space Storage during the third quarter worth about $28,000. Rosenberg Matthew Hamilton grew its position 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 worth $35,000 after buying an additional 217 shares during the period. Creative Financial Designs Inc. ADV grew its position in Extra Space Storage by 39.5% during the fourth quarter. Creative Financial Designs Inc. ADV now owns 325 shares of the real estate investment trust's stock worth $42,000 after buying an additional 92 shares during the period. Finally, Logan Capital Management Inc. grew its position in 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 worth $43,000 after buying an additional 229 shares during the period. 99.11% of the stock is currently owned by institutional investors and hedge funds.

Extra Space Storage Stock Performance

Shares of EXR opened at $145.34 on Friday. 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 $30.71 billion, a price-to-earnings ratio of 32.59, a PEG ratio of 4.74 and a beta of 1.20. The company's 50 day simple moving average is $140.43 and its 200 day simple moving average is $138.81. Extra Space Storage Inc has a 1 year low of $125.71 and a 1 year high of $155.19.

Extra Space Storage (NYSE:EXR - Get Free Report) last announced its quarterly earnings data on Tuesday, April 28th. The real estate investment trust reported $1.14 earnings per share (EPS) 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 business's quarterly revenue was up 4.4% on a year-over-year basis. During the same period in the previous year, the company posted $2.00 EPS. Extra Space Storage has set its FY 2026 guidance at 8.050-8.350 EPS. On average, sell-side analysts predict that Extra Space Storage Inc will post 8.24 EPS for the current year.

Extra Space Storage Dividend Announcement

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

Wall Street Analyst Weigh In

EXR has been the topic of several recent analyst reports. Truist Financial lowered their target price on shares of 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. BNP Paribas Exane upgraded shares of Extra Space Storage from a "neutral" rating to an "outperform" rating and set a $154.00 price target on the stock in a research report on Wednesday, March 18th. Wells Fargo & Company increased their target price on Extra Space Storage from $148.00 to $154.00 and gave the company an "overweight" rating in a report on Monday, June 1st. Wall Street Zen upgraded Extra Space Storage from a "sell" rating to a "hold" rating in a report on Saturday, May 30th. Finally, Scotiabank upped their price objective on Extra Space Storage from $145.00 to $156.00 and gave the company a "sector perform" rating in a research report on Monday, March 2nd. Five investment analysts have rated the stock with a Buy rating, nine have issued a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, the company has a consensus rating of "Hold" and an average price target of $152.29.

Insider Activity

In related news, CEO Joseph D. Margolis sold 7,500 shares of the company's stock in a transaction that occurred on Friday, March 13th. The shares were sold at an average price of $142.08, for a total transaction of $1,065,600.00. Following the transaction, the chief executive officer owned 66,495 shares of the company's stock, valued at approximately $9,447,609.60. This represents a 10.14% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at 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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