Extra Space Storage Inc $EXR Shares Sold by Royal Bank of Canada

Key Points

• Royal Bank of Canada cut its Extra Space Storage stake by 7.6% in the first quarter, selling 17,007 shares and retaining 205,751 shares valued at approximately $27 million. Institutional investors and hedge funds collectively own 99.11% of the REIT.
• Extra Space Storage reported quarterly EPS of $1.25, beating estimates of $1.16, while revenue rose 3.9% year over year to $874.15 million. The company guided to fiscal 2026 EPS of $8.25–$8.40.
• The REIT pays a quarterly dividend of $1.62 per share, equivalent to an annualized $6.48 dividend and a 4.3% yield. Analysts maintain a consensus “Hold” rating with an average price target of $147.73, below the reported share price of $149.84.

Royal Bank of Canada decreased its holdings in Extra Space Storage Inc (NYSE:EXR - Free Report) by 7.6% in the 1st quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 205,751 shares of the real estate investment trust's stock after selling 17,007 shares during the quarter. Royal Bank of Canada owned 0.10% of Extra Space Storage worth $26,980,000 as of its most recent filing with the SEC.

Other large investors also recently modified their holdings of the company. Cohen & Steers Inc. lifted its holdings in Extra Space Storage by 13.4% in the fourth quarter. Cohen & Steers Inc. now owns 15,979,424 shares of the real estate investment trust's stock worth $2,080,971,000 after purchasing an additional 1,888,763 shares during the period. State Street Corp increased its stake in 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 buying an additional 230,697 shares during the period. Norges Bank acquired a new position in Extra Space Storage during the 4th quarter valued at about $1,219,606,000. Capital International Investors raised its position in shares of Extra Space Storage by 73.9% during the 4th quarter. Capital International Investors now owns 6,256,687 shares of the real estate investment trust's stock worth $814,746,000 after buying an additional 2,658,947 shares in the last quarter. Finally, Geode Capital Management LLC raised its position in shares of Extra Space Storage by 1.0% during the 4th quarter. Geode Capital Management LLC now owns 5,945,315 shares of the real estate investment trust's stock worth $771,397,000 after buying an additional 56,118 shares in the last quarter. 99.11% of the stock is owned by institutional investors and hedge funds.

Extra Space Storage Trading Up 0.1%

Shares of NYSE:EXR opened at $149.84 on Wednesday. The company has a debt-to-equity ratio of 0.96, a quick ratio of 0.37 and a current ratio of 1.56. The stock has a market capitalization of $31.66 billion, a price-to-earnings ratio of 33.08, a PEG ratio of 4.61 and a beta of 1.18. Extra Space Storage Inc has a 1-year low of $125.71 and a 1-year high of $158.88. The company has a 50 day moving average price of $146.77 and a 200 day moving average price of $143.30.

Extra Space Storage (NYSE:EXR - Get Free Report) last posted its quarterly 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 return on equity of 6.70% and a net margin of 27.80%.The company had revenue of $874.15 million for the quarter, compared to analysts' expectations of $874.99 million. During the same quarter in the prior year, the company earned $2.05 earnings per share. The firm'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. On average, research analysts anticipate that Extra Space Storage Inc will post 8.31 EPS for the current fiscal year.

Extra Space Storage Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, June 30th. Stockholders of record on Monday, June 15th were given a dividend of $1.62 per share. The ex-dividend date of this dividend was Monday, June 15th. This represents a $6.48 dividend on an annualized basis and a dividend yield of 4.3%. Extra Space Storage's payout ratio is 143.05%.

Insider Activity at Extra Space Storage

In other news, EVP Gwyn Goodson Mcneal sold 3,300 shares of the company's stock in a transaction on Thursday, June 11th. The stock was sold at an average price of $150.00, for a total transaction of $495,000.00. Following the completion of the sale, the executive vice president directly owned 37,374 shares of the company's stock, valued at $5,606,100. This represents a 8.11% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. 0.96% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

Several research analysts have recently issued reports on the stock. Barclays increased their price objective on shares of Extra Space Storage from $170.00 to $172.00 and gave the company an "overweight" rating in a report on Friday, July 10th. The Goldman Sachs Group restated a "neutral" rating and issued a $160.00 target price on shares of Extra Space Storage in a research report on Thursday, July 30th. Mizuho increased their price target on Extra Space Storage from $150.00 to $155.00 and gave the company an "outperform" rating in a research note on Wednesday, May 27th. Wells Fargo & Company lifted their price target on Extra Space Storage from $154.00 to $158.00 and gave the company an "overweight" rating in a research report on Friday, July 24th. Finally, Raymond James Financial initiated coverage on Extra Space Storage in a research note on Thursday, July 16th. They issued an "outperform" rating and a $44.00 price objective on the stock. Six equities research analysts have rated the stock with a Buy rating and ten have given a Hold rating to the stock. Based on data from MarketBeat, the company has an average rating of "Hold" and a consensus price target of $147.73.

Extra Space Storage Company 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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