Extra Space Storage Inc $EXR Stock Sold by Envestnet Asset Management Inc.

Key Points

• Envestnet Asset Management reduced its Extra Space Storage stake by 4.7% in the second quarter, selling 7,574 shares and retaining 152,781 shares worth approximately $22.2 million. Institutional investors collectively own 99.11% of EXR.
• Extra Space Storage exceeded quarterly EPS expectations, reporting $1.25 versus the $1.16 consensus estimate, while revenue rose 3.9% year over year to $874.15 million. The company maintained fiscal 2026 EPS guidance of $8.25–$8.40.
• The REIT declared a quarterly dividend of $1.62 per share, equal to $6.48 annually and a 4.9% yield. Analysts maintain a consensus “Hold” rating with an average price target of $149.47, compared with shares trading near $133.51.

Envestnet Asset Management Inc. trimmed its stake in Extra Space Storage Inc (NYSE:EXR - Free Report) by 4.7% during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 152,781 shares of the real estate investment trust's stock after selling 7,574 shares during the period. Envestnet Asset Management Inc. owned approximately 0.07% of Extra Space Storage worth $22,199,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also bought and sold shares of the stock. Security National Bank of SO Dak purchased a new stake in Extra Space Storage during the second quarter valued at about $34,000. Van Hulzen Asset Management LLC boosted its holdings in shares of Extra Space Storage by 2.8% in the 2nd quarter. Van Hulzen Asset Management LLC now owns 3,630 shares of the real estate investment trust's stock worth $527,000 after purchasing an additional 100 shares in the last quarter. Engineers Gate Manager LP purchased a new position in shares of Extra Space Storage during the 2nd quarter valued at about $647,000. NewEdge Advisors LLC lifted its position in Extra Space Storage by 5.1% in the 2nd quarter. NewEdge Advisors LLC now owns 6,121 shares of the real estate investment trust's stock worth $889,000 after buying an additional 299 shares during the last quarter. Finally, Squarepoint Ops LLC lifted its position in Extra Space Storage by 359.9% in the 2nd quarter. Squarepoint Ops LLC now owns 25,949 shares of the real estate investment trust's stock worth $3,770,000 after buying an additional 20,307 shares during the last quarter. 99.11% of the stock is owned by hedge funds and other institutional investors.

Extra Space Storage Trading Up 1.4%

Shares of EXR opened at $133.51 on Wednesday. The stock has a market capitalization of $28.21 billion, a P/E ratio of 29.47, a PEG ratio of 3.89 and a beta of 1.16. Extra Space Storage Inc has a twelve month low of $125.71 and a twelve month high of $158.88. The company has a quick ratio of 1.56, a current ratio of 1.56 and a debt-to-equity ratio of 0.96. The firm has a fifty day simple moving average of $142.95 and a two-hundred day simple moving average of $142.40.

Extra Space Storage (NYSE:EXR - Get Free Report) last released its quarterly earnings data on Tuesday, July 28th. The real estate investment trust reported $1.25 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.16 by $0.09. The firm had revenue of $874.15 million for the quarter, compared to analysts' expectations of $874.99 million. Extra Space Storage had a net margin of 27.80% and a return on equity of 6.70%. The company's revenue for the quarter was up 3.9% compared to the same quarter last year. During the same quarter in the previous year, the company earned $2.05 earnings per share. 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 8.36 EPS for the current year.

Extra Space Storage Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, September 30th. Shareholders of record on Tuesday, September 15th will be given 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 yield of 4.9%. Extra Space Storage's dividend payout ratio is presently 143.05%.

Analysts Set New Price Targets

EXR has been the subject of several research reports. The Goldman Sachs Group reaffirmed a "neutral" rating and issued a $160.00 target price on shares of Extra Space Storage in a research note on Thursday, July 30th. Truist Financial boosted their price objective on shares of Extra Space Storage from $140.00 to $148.00 and gave the stock a "hold" rating in a report on Wednesday, June 17th. Scotiabank upped their price objective on shares of Extra Space Storage from $157.00 to $158.00 and gave the company a "sector perform" rating in a research note on Tuesday, August 18th. Royal Bank Of Canada upped their price objective on shares of Extra Space Storage from $153.00 to $157.00 and gave the company a "sector perform" rating in a research note on Thursday, July 30th. Finally, Barclays increased 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. Seven investment analysts have rated the stock with a Buy rating and nine have given a Hold rating to the company. Based on data from MarketBeat, the company has an average rating of "Hold" and an average price target of $149.47.

About Extra Space Storage

Extra Space Storage Inc is a real estate investment trust (REIT) that owns, operates, manages and develops self-storage facilities. Its properties provide personal and business customers with space for storing household goods, vehicles, business inventory and other belongings in a range of unit sizes. Many facilities offer features such as climate-controlled units, drive-up access, online rentals and electronic payments.

The company also provides third-party management services for self-storage properties owned by other investors and participates in joint ventures.

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