Extra Space Storage Inc $EXR Stock Holdings Lessened by Bank of New York Mellon Corp

Key Points

• Bank of New York Mellon Corp reduced its Extra Space Storage stake by 18.5% in the first quarter, selling 282,128 shares and leaving it with about 1.24 million shares valued at roughly $163 million.
• Analysts are mixed on EXR: recent updates included higher price targets from Barclays and Wells Fargo, but the overall consensus rating remains Hold with an average target price of $146.27.
• Extra Space Storage reported Q1 earnings of $1.14 per share, missing expectations, though revenue topped estimates and rose 4.4% year over year; the company also paid a $1.62 quarterly dividend, yielding about 4.4% annually.

Bank of New York Mellon Corp cut its holdings in Extra Space Storage Inc (NYSE:EXR - Free Report) by 18.5% in the 1st quarter, according to its most recent 13F filing with the SEC. The firm owned 1,243,354 shares of the real estate investment trust's stock after selling 282,128 shares during the period. Bank of New York Mellon Corp owned about 0.59% of Extra Space Storage worth $163,041,000 as of its most recent filing with the SEC.

A number of other institutional investors have also modified their holdings of the business. Reflection Asset Management bought a new position in Extra Space Storage in the fourth quarter worth about $26,000. Caitong International Asset Management Co. Ltd bought a new position in shares of Extra Space Storage during the third quarter valued at approximately $28,000. DV Equities LLC bought a new position in shares of Extra Space Storage during the fourth quarter valued at approximately $39,000. Zions Bancorporation National Association UT raised its position in shares of Extra Space Storage by 172.3% during the 4th quarter. Zions Bancorporation National Association UT now owns 305 shares of the real estate investment trust's stock worth $40,000 after purchasing an additional 193 shares during the period. Finally, Creative Financial Designs Inc. ADV raised its position in shares of Extra Space Storage by 39.5% during the 4th quarter. Creative Financial Designs Inc. ADV now owns 325 shares of the real estate investment trust's stock worth $42,000 after purchasing an additional 92 shares during the period. Institutional investors own 99.11% of the company's stock.

Analysts Set New Price Targets

A number of research analysts recently issued reports on EXR shares. Barclays boosted their price objective on Extra Space Storage from $170.00 to $172.00 and gave the company an "overweight" rating in a research report on Friday, July 10th. Truist Financial increased their target price on Extra Space Storage from $140.00 to $148.00 and gave the stock a "hold" rating in a research report on Wednesday, June 17th. Raymond James Financial started coverage on Extra Space Storage in a research note on Thursday. They issued an "outperform" rating and a $44.00 target price on the stock. Wells Fargo & Company boosted their price target on shares of Extra Space Storage from $148.00 to $154.00 and gave the company an "overweight" rating in a report on Monday, June 1st. Finally, Wall Street Zen raised shares of Extra Space Storage from a "sell" rating to a "hold" rating in a report on Saturday. Six equities research analysts have rated the stock with a Buy rating and ten have given a Hold rating to the company's stock. Based on data from MarketBeat, the stock presently has an average rating of "Hold" and a consensus target price of $146.27.

Extra Space Storage Stock Performance

EXR opened at $148.38 on Friday. 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 business's 50 day moving average is $145.31 and its 200-day moving average is $142.13. The stock has a market cap of $31.35 billion, a PE ratio of 33.27, a price-to-earnings-growth ratio of 4.59 and a beta of 1.19. Extra Space Storage Inc has a twelve month low of $125.71 and a twelve month high of $155.19.

Extra Space Storage (NYSE:EXR - Get Free Report) last issued its quarterly earnings data 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 during the quarter, compared to the consensus estimate of $851.35 million. During the same period last year, the company earned $2.00 earnings per share. The business's quarterly revenue was up 4.4% compared to the same quarter last year. Extra Space Storage has set its FY 2026 guidance at 8.050-8.350 EPS. On average, analysts predict that Extra Space Storage Inc will post 8.26 earnings per share for the current year.

Extra Space Storage Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, June 30th. Stockholders of record on Monday, June 15th were paid a $1.62 dividend. The ex-dividend date of this dividend was Monday, June 15th. This represents a $6.48 annualized dividend and a dividend yield of 4.4%. Extra Space Storage's dividend payout ratio is presently 145.29%.

Insider Activity

In other news, EVP Gwyn Goodson Mcneal sold 3,300 shares of the firm'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 transaction, the executive vice president directly owned 37,374 shares of the company's stock, valued at approximately $5,606,100. This trade represents a 8.11% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 0.96% of the company's stock.

About Extra Space Storage

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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