Squarepoint Ops LLC increased its stake in Extra Space Storage Inc (NYSE:EXR - Free Report) by 359.9% in the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 25,949 shares of the real estate investment trust's stock after purchasing an additional 20,307 shares during the quarter. Squarepoint Ops LLC's holdings in Extra Space Storage were worth $3,770,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors have also recently made changes to their positions in the company. California State Teachers Retirement System boosted its holdings in Extra Space Storage by 13,598.3% during the second quarter. California State Teachers Retirement System now owns 40,299,246 shares of the real estate investment trust's stock worth $5,855,480,000 after buying an additional 40,005,054 shares in the last quarter. BlackRock Inc. purchased a new position in Extra Space Storage in the second quarter valued at about $3,334,263,000. Cohen & Steers Inc. lifted its position in shares of Extra Space Storage by 13.4% during the 4th quarter. Cohen & Steers Inc. now owns 15,979,424 shares of the real estate investment trust's stock valued at $2,080,971,000 after acquiring an additional 1,888,763 shares during the period. State Street Corp lifted its position in shares of Extra Space Storage by 1.7% during the 3rd quarter. State Street Corp now owns 13,910,878 shares of the real estate investment trust's stock valued at $1,960,599,000 after acquiring an additional 230,697 shares during the period. Finally, Norges Bank purchased a new stake in shares of Extra Space Storage during the 4th quarter worth approximately $1,219,606,000. Institutional investors and hedge funds own 99.11% of the company's stock.
Extra Space Storage Price Performance
NYSE:EXR opened at $137.83 on Friday. Extra Space Storage Inc has a 12-month low of $125.71 and a 12-month high of $158.88. The firm has a market cap of $29.12 billion, a price-to-earnings ratio of 30.43, a price-to-earnings-growth ratio of 3.95 and a beta of 1.16. The company's 50-day moving average is $145.46 and its two-hundred day moving average is $143.51. 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 issued 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. The business had revenue of $874.15 million during the quarter, compared to the consensus estimate of $874.99 million. Extra Space Storage had a net margin of 27.80% and a return on equity of 6.70%. The company's quarterly revenue was up 3.9% compared to the same quarter last year. During the same period in the previous year, the firm posted $2.05 earnings per share. Extra Space Storage has set its FY 2026 guidance at 8.250-8.400 EPS. Research analysts expect that Extra Space Storage Inc will post 8.33 EPS for the current year.
Extra Space Storage Dividend Announcement
The company 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 yield of 4.7%. Extra Space Storage's dividend payout ratio (DPR) is 143.05%.
Wall Street Analysts Forecast Growth
A number of equities research analysts recently weighed in on the company. Raymond James Financial assumed coverage on Extra Space Storage in a report on Thursday, July 16th. They issued an "outperform" rating and a $44.00 price target on the stock. Truist Financial boosted their target price on Extra Space Storage from $140.00 to $148.00 and gave the stock a "hold" rating in a research report on Wednesday, June 17th. Bank of America raised Extra Space Storage from an "underperform" rating to a "neutral" rating and upped their target price for the company from $147.00 to $156.00 in a report on Tuesday, June 16th. Royal Bank Of Canada raised their price target on Extra Space Storage from $153.00 to $157.00 and gave the company a "sector perform" rating in a research report on Thursday, July 30th. Finally, Barclays lifted their price target on Extra Space Storage from $170.00 to $172.00 and gave the stock an "overweight" rating in a research note on Friday, July 10th. Seven research analysts have rated the stock with a Buy rating and nine have given a Hold rating to the stock. According to MarketBeat, Extra Space Storage has a consensus rating of "Hold" and a consensus target price of $148.93.
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About Extra Space Storage
(
Free Report)
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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