Extra Space Storage Inc $EXR Stock Bought by Asset Management One Co. Ltd.

Key Points

• Asset Management One increased its EXR stake by 2.1% in the third quarter, bringing its holdings to 402,059 shares valued at approximately $52.9 million. Institutional investors collectively own 99.11% of Extra Space Storage.
• Extra Space Storage reported quarterly revenue of $889.8 million, slightly exceeding estimates, while reported EPS of $1.17 fell short of the $2.10 consensus. Core FFO was stronger at $2.17 per share, and same-store net operating income increased 4.6%.
• The company pays a quarterly dividend of $1.62 per share, representing a 4.5% yield, but its 143.05% payout ratio and valuation concerns remain risks. Analysts maintain a “Moderate Buy” consensus with an average price target of $148.67.

Asset Management One Co. Ltd. lifted its position in shares of Extra Space Storage Inc (NYSE:EXR - Free Report) by 2.1% in the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 402,059 shares of the real estate investment trust's stock after buying an additional 8,118 shares during the period. Asset Management One Co. Ltd. owned approximately 0.19% of Extra Space Storage worth $52,875,000 as of its most recent SEC filing.

Several other large investors have also made changes to their positions in EXR. BlackRock Inc. purchased a new stake in shares of Extra Space Storage during the 2nd quarter worth about $3,334,263,000. First Eagle Investment Management LLC increased its position in Extra Space Storage by 1.0% during the 2nd quarter. First Eagle Investment Management LLC now owns 3,876,997 shares of the real estate investment trust's stock worth $563,328,000 after purchasing an additional 38,306 shares in the last quarter. Dimensional Fund Advisors LP raised its holdings in Extra Space Storage by 1.1% in the first quarter. Dimensional Fund Advisors LP now owns 3,206,587 shares of the real estate investment trust's stock valued at $420,461,000 after buying an additional 33,631 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its holdings in Extra Space Storage by 24,295.0% in the second quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 2,241,413 shares of the real estate investment trust's stock valued at $325,677,000 after buying an additional 2,232,225 shares during the period. Finally, Legal & General Group Plc purchased a new position in Extra Space Storage in the second quarter valued at approximately $299,746,000. 99.11% of the stock is owned by hedge funds and other institutional investors.

Extra Space Storage Price Performance

EXR opened at $144.85 on Thursday. Extra Space Storage Inc has a twelve month low of $125.71 and a twelve month high of $158.88. The firm has a market cap of $30.60 billion, a price-to-earnings ratio of 31.98, a PEG ratio of 4.25 and a beta of 1.15. The company has a current ratio of 1.56, a quick ratio of 1.56 and a debt-to-equity ratio of 0.96. The company has a fifty day simple moving average of $138.44 and a 200 day simple moving average of $142.25.

Extra Space Storage (NYSE:EXR - Get Free Report) last issued its quarterly earnings data on Tuesday, October 27th. The real estate investment trust reported $1.17 EPS for the quarter, missing analysts' consensus estimates of $2.10 by ($0.93). The firm had revenue of $889.79 million during the quarter, compared to analyst estimates of $886.61 million. Extra Space Storage had a return on equity of 6.70% and a net margin of 27.80%. The business's quarterly revenue was up 3.6% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $2.08 EPS. Equities research analysts expect that Extra Space Storage Inc will post 8.34 EPS for the current fiscal year.

Extra Space Storage Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, September 30th. Stockholders of record on Tuesday, September 15th were paid a dividend of $1.62 per share. This represents a $6.48 annualized dividend and a dividend yield of 4.5%. The ex-dividend date was Tuesday, September 15th. Extra Space Storage's dividend payout ratio is 143.05%.

Extra Space Storage News Roundup

Here are the key news stories impacting Extra Space Storage this week:

• Positive Sentiment: Core FFO beat expectations: Third-quarter core FFO was $2.17 per share, above the $2.10 consensus estimate and up from $2.08 a year earlier. Revenue of $889.8 million also exceeded forecasts of $886.6 million. Extra Space Storage Beats Q3 FFO and Revenue Estimates
• Positive Sentiment: Same-store fundamentals improved: Same-store net operating income rose 4.6%, supported by a 2.7% increase in revenue and a 1.8% decline in expenses. Management raised its 2026 core FFO and same-store NOI growth outlook, providing a positive catalyst for the stock. EXR Q3 Core FFO Improves on Strong Same-Store NOI
• Positive Sentiment: Capital returns supported sentiment: Extra Space repurchased approximately 2.4 million shares for $327.1 million during the quarter and authorized an additional $500 million buyback. Evercore ISI also raised its price target to $146 from $142. Evercore ISI Adjusts Price Target on Extra Space Storage
• Neutral Sentiment: Noah Springer is scheduled to succeed retiring CEO Joe Margolis on January 1, 2027. The transition appears planned, but investors may monitor execution under the new leadership. Extra Space Storage Reports 2026 Third Quarter Results
• Negative Sentiment: Valuation and GAAP results remain concerns: Reported EPS of $1.17 missed the $2.10 analyst estimate, although the comparison was affected by real-estate-related items. Analysts also argue that slower 2%–4% AFFO growth, elevated interest rates and limited pricing power make EXR’s valuation difficult to justify. Extra Space Storage Better Results Still Not a Buy

Wall Street Analysts Forecast Growth

Several equities research analysts have issued reports on the stock. Mizuho decreased their price objective on shares of Extra Space Storage from $155.00 to $152.00 and set an "outperform" rating for the company in a research note on Wednesday, September 2nd. Scotiabank increased their price objective on shares of Extra Space Storage from $157.00 to $158.00 and gave the stock a "sector perform" rating in a research report on Tuesday, August 18th. UBS Group cut their target price on shares of Extra Space Storage from $163.00 to $152.00 and set a "buy" rating on the stock in a research note on Friday, October 16th. Royal Bank Of Canada lifted their target price on shares of Extra Space Storage from $153.00 to $157.00 and gave the company a "sector perform" rating in a report on Thursday, July 30th. Finally, Barclays lifted their target price 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. Eight research analysts have rated the stock with a Buy rating and eight have given a Hold rating to the company's stock. According to data from MarketBeat.com, Extra Space Storage currently has a consensus rating of "Moderate Buy" and an average target price of $148.67.

About Extra Space Storage

Extra Space Storage Inc is a real estate investment trust that owns, operates, manages and develops self-storage properties in the United States. The company provides storage units for residential, business and vehicle-storage customers, with facilities offering a range of unit sizes and access options.

In addition to operating properties under the Extra Space Storage brand, the company provides third-party property management, acquisition and development services for self-storage owners.

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