Extra Space Storage Inc $EXR Shares Purchased by Bank of New York Mellon Corp

Key Points

• Bank of New York Mellon increased its stake in Extra Space Storage by 16.4% in the fourth quarter, buying an additional 214,972 shares and bringing its total holding to 1,525,482 shares worth about $198.6 million.
• Analyst sentiment is mixed but leans cautious: the stock has a consensus Hold rating, with an average price target of $152.29, though several firms recently raised targets.
• Extra Space Storage reported quarterly EPS of $1.14, well below estimates, while revenue came in slightly above expectations; the company also declared a quarterly dividend of $1.62 per share payable June 30.

Bank of New York Mellon Corp raised its holdings in shares of Extra Space Storage Inc (NYSE:EXR - Free Report) by 16.4% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,525,482 shares of the real estate investment trust's stock after buying an additional 214,972 shares during the period. Bank of New York Mellon Corp owned about 0.72% of Extra Space Storage worth $198,648,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Avalon Trust Co acquired a new position in Extra Space Storage during the third quarter valued at approximately $28,000. Caitong International Asset Management Co. Ltd acquired a new position in Extra Space Storage during the third quarter valued at approximately $28,000. Rosenberg Matthew Hamilton lifted 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 valued at $35,000 after buying an additional 217 shares in the last quarter. Creative Financial Designs Inc. ADV lifted 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 valued at $42,000 after buying an additional 92 shares in the last quarter. Finally, Logan Capital Management Inc. lifted 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 valued at $43,000 after buying an additional 229 shares in the last quarter. 99.11% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of research analysts have weighed in on EXR shares. Mizuho lifted their price target on shares of Extra Space Storage from $150.00 to $155.00 and gave the company an "outperform" rating in a research report on Wednesday, May 27th. Truist Financial reduced their price target 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. Wells Fargo & Company boosted their target price on shares of Extra Space Storage from $148.00 to $154.00 and gave the stock an "overweight" rating in a research report on Monday, June 1st. Weiss Ratings reissued a "hold (c)" rating on shares of Extra Space Storage in a research report on Tuesday, April 21st. Finally, Royal Bank Of Canada boosted their target price on shares of Extra Space Storage from $142.00 to $153.00 and gave the stock a "sector perform" rating in a research report on Monday, February 23rd. Five equities research analysts have rated the stock with a Buy rating, nine have issued a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and an average price target of $152.29.

Extra Space Storage Trading Down 0.4%

NYSE EXR opened at $145.34 on Friday. The company's fifty day simple moving average is $140.43 and its 200-day simple moving average is $138.81. Extra Space Storage Inc has a 52 week low of $125.71 and a 52 week 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 stock has a market cap of $30.71 billion, a P/E ratio of 32.59, a PEG ratio of 4.74 and a beta of 1.20.

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

Extra Space Storage Dividend Announcement

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

Insider Transactions at Extra Space Storage

In related news, CEO Joseph D. Margolis sold 7,500 shares of the company's stock in a transaction on 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 sale, the chief executive officer directly owned 66,495 shares of the company's stock, valued at $9,447,609.60. This represents a 10.14% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. 0.96% of the stock is owned by corporate insiders.

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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