Extra Space Storage Inc $EXR Shares Sold by Bank of America Corp DE

Key Points

• Bank of America reduced its Extra Space Storage stake by 9.2% in the second quarter, selling 71,689 shares and retaining 708,547 shares worth approximately $103 million. Institutional investors collectively own 99.11% of the REIT.
• Extra Space Storage reported quarterly EPS of $1.25, beating estimates by $0.09, while revenue rose 3.9% year over year to $874.15 million. The company issued fiscal 2026 EPS guidance of $8.25–$8.40.
• The company declared a quarterly dividend of $1.62 per share, equivalent to $6.48 annually and a 4.7% yield. Analysts maintain a consensus “Hold” rating with an average price target of $148.93, versus the reported share price of $136.75.

Bank of America Corp DE trimmed its holdings in shares of Extra Space Storage Inc (NYSE:EXR - Free Report) by 9.2% during the second quarter, according to its most recent Form 13F filing with the SEC. The firm owned 708,547 shares of the real estate investment trust's stock after selling 71,689 shares during the period. Bank of America Corp DE owned 0.34% of Extra Space Storage worth $102,952,000 as of its most recent SEC filing.

A number of other large investors also recently modified their holdings of the business. Freestone Grove Partners LP bought a new stake in Extra Space Storage in the second quarter valued at $101,000. Man Group plc bought a new stake in Extra Space Storage during the 2nd quarter valued at $11,404,000. First Bancorp Inc ME acquired a new position in Extra Space Storage during the 2nd quarter worth $83,000. Jupiter Topco LLC acquired a new position in Extra Space Storage during the 2nd quarter worth $3,854,000. Finally, Hsbc Holdings PLC grew its stake in shares of Extra Space Storage by 3.5% in the second quarter. Hsbc Holdings PLC now owns 902,368 shares of the real estate investment trust's stock worth $131,181,000 after purchasing an additional 30,096 shares in the last quarter. 99.11% of the stock is currently owned by institutional investors.

Extra Space Storage Stock Down 1.6%

Shares of NYSE:EXR opened at $136.75 on Friday. The company has a debt-to-equity ratio of 0.96, a quick ratio of 1.56 and a current ratio of 1.56. The company has a market cap of $28.89 billion, a PE ratio of 30.19, a price-to-earnings-growth ratio of 3.99 and a beta of 1.16. Extra Space Storage Inc has a 52 week low of $125.71 and a 52 week high of $158.88. The firm has a 50 day simple moving average of $144.75 and a 200 day simple moving average of $143.11.

Extra Space Storage (NYSE:EXR - Get Free Report) last announced its earnings results on Tuesday, July 28th. The real estate investment trust reported $1.25 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.16 by $0.09. Extra Space Storage had a net margin of 27.80% and a return on equity of 6.70%. The company had revenue of $874.15 million for the quarter, compared to the consensus estimate of $874.99 million. During the same period in the previous year, the business earned $2.05 EPS. The company's revenue was up 3.9% on a year-over-year basis. Extra Space Storage has set its FY 2026 guidance at 8.250-8.400 EPS. As a group, research analysts expect that Extra Space Storage Inc will post 8.34 earnings per share for the current year.

Extra Space Storage Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, September 30th. Stockholders of record on Tuesday, September 15th will be paid a dividend of $1.62 per share. The ex-dividend date of this dividend is Tuesday, September 15th. This represents a $6.48 dividend on an annualized basis and a dividend yield of 4.7%. Extra Space Storage's dividend payout ratio (DPR) is 143.05%.

Analysts Set New Price Targets

A number of brokerages recently weighed in on EXR. Mizuho cut their price objective on shares of Extra Space Storage from $155.00 to $152.00 and set an "outperform" rating on the stock in a research note on Wednesday, September 2nd. Wells Fargo & Company lowered their target price on shares of Extra Space Storage from $158.00 to $157.00 and set an "overweight" rating on the stock in a research note on Tuesday, September 1st. Truist Financial upped their price target on shares of Extra Space Storage from $140.00 to $148.00 and gave the stock a "hold" rating in a research note on Wednesday, June 17th. Wall Street Zen upgraded shares of Extra Space Storage from a "sell" rating to a "hold" rating in a report on Sunday, August 9th. Finally, The Goldman Sachs Group reiterated a "neutral" rating and set a $160.00 price objective on shares of Extra Space Storage in a research note on Thursday, July 30th. Seven equities research analysts have rated the stock with a Buy rating and nine have issued a Hold rating to the company's stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Hold" and an average target price of $148.93.

Extra Space Storage Company Profile

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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