Extra Space Storage Inc $EXR Shares Sold by Vanderbilt University

Key Points

• Vanderbilt University cut its stake in Extra Space Storage by 45.3% in the first quarter, selling 7,570 shares and leaving it with 9,131 shares worth about $1.2 million.
• Extra Space Storage reported Q1 earnings of $1.14 per share, missing the $2.01 consensus estimate, though revenue came in slightly above forecasts at $856.03 million and rose 4.4% year over year.
• The company announced a quarterly dividend of $1.62 per share, equal to a 4.4% annualized yield, while analysts currently rate the stock a consensus Hold with an average target price of $153.07.

Vanderbilt University decreased its holdings in Extra Space Storage Inc (NYSE:EXR - Free Report) by 45.3% in the 1st quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 9,131 shares of the real estate investment trust's stock after selling 7,570 shares during the quarter. Vanderbilt University's holdings in Extra Space Storage were worth $1,197,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors also recently bought and sold shares of the business. NewEdge Advisors LLC grew its stake in shares of Extra Space Storage by 9.3% during the 1st quarter. NewEdge Advisors LLC now owns 3,409 shares of the real estate investment trust's stock worth $506,000 after purchasing an additional 291 shares during the period. Empowered Funds LLC increased its holdings in shares of Extra Space Storage by 15.5% in the 1st quarter. Empowered Funds LLC now owns 4,912 shares of the real estate investment trust's stock valued at $729,000 after purchasing an additional 661 shares in the last quarter. Sivia Capital Partners LLC acquired a new stake in shares of Extra Space Storage in the second quarter valued at about $457,000. First Trust Advisors LP lifted its stake in shares of Extra Space Storage by 184.1% in the second quarter. First Trust Advisors LP now owns 108,205 shares of the real estate investment trust's stock valued at $15,954,000 after purchasing an additional 70,115 shares during the period. Finally, Brown Advisory Inc. boosted its holdings in Extra Space Storage by 1.8% during the second quarter. Brown Advisory Inc. now owns 4,431 shares of the real estate investment trust's stock worth $653,000 after buying an additional 80 shares in the last quarter. Institutional investors and hedge funds own 99.11% of the company's stock.

Extra Space Storage Price Performance

Shares of NYSE EXR opened at $145.86 on Thursday. 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 company's 50-day moving average price is $143.83 and its 200 day moving average price is $140.28. Extra Space Storage Inc has a 52 week low of $125.71 and a 52 week high of $155.19. The stock has a market cap of $30.81 billion, a price-to-earnings ratio of 32.70, a PEG ratio of 4.58 and a beta of 1.20.

Extra Space Storage (NYSE:EXR - Get Free Report) last announced its earnings results on Tuesday, April 28th. The real estate investment trust reported $1.14 earnings per share (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 business had revenue of $856.03 million for the quarter, compared to analyst estimates of $851.35 million. During the same quarter in the previous year, the firm posted $2.00 EPS. The business's revenue 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. As a group, research analysts forecast that Extra Space Storage Inc will post 8.26 earnings per share for the current fiscal year.

Extra Space Storage Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 30th. Investors of record on Monday, June 15th will be given a dividend of $1.62 per share. This represents a $6.48 annualized dividend and a dividend yield of 4.4%. The ex-dividend date is Monday, June 15th. Extra Space Storage's payout ratio is currently 145.29%.

Insider Transactions at Extra Space Storage

In related news, EVP Gwyn Goodson Mcneal sold 3,300 shares of the company's stock in a transaction that occurred on Thursday, June 11th. The stock was sold at an average price of $150.00, for a total value of $495,000.00. Following the sale, the executive vice president owned 37,374 shares of the company's stock, valued at approximately $5,606,100. This represents a 8.11% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 0.96% of the company's stock.

Analyst Upgrades and Downgrades

Several research analysts have weighed in on EXR shares. Wells Fargo & Company upped 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. Barclays boosted their price target on Extra Space Storage from $164.00 to $170.00 and gave the stock an "overweight" rating in a research note on Thursday, March 5th. Scotiabank upped their price target on Extra Space Storage from $145.00 to $156.00 and gave the stock a "sector perform" rating in a report on Monday, March 2nd. Bank of America upgraded Extra Space Storage from an "underperform" rating to a "neutral" rating and upped their price target for the stock from $147.00 to $156.00 in a report on Tuesday, June 16th. Finally, UBS Group lifted their price objective on Extra Space Storage from $148.00 to $158.00 and gave the stock a "buy" rating in a report on Monday, May 18th. Five 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 presently has an average rating of "Hold" and a consensus target price of $153.07.

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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