First Eagle Investment Management LLC Has $563.33 Million Stock Holdings in Extra Space Storage Inc $EXR

Key Points

• First Eagle Investment Management increased its Extra Space Storage stake by 1% in the second quarter, bringing its holdings to 3.88 million shares valued at approximately $563.3 million. Institutional investors and hedge funds collectively own 99.11% of EXR.
• Analyst sentiment remains mixed, with seven Buy ratings and nine Hold ratings; the consensus rating is Hold with an average price target of $148.93. Recent targets range from $157 to $172.
• 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 also declared a quarterly dividend of $1.62 per share, representing a 4.7% annualized yield.

First Eagle Investment Management LLC increased its position in Extra Space Storage Inc (NYSE:EXR - Free Report) by 1.0% during the second quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 3,876,997 shares of the real estate investment trust's stock after purchasing an additional 38,306 shares during the quarter. First Eagle Investment Management LLC owned approximately 1.84% of Extra Space Storage worth $563,328,000 as of its most recent SEC filing.

Other hedge funds have also bought and sold shares of the company. Raiffeisen Bank International AG increased its position in Extra Space Storage by 82.4% during the second quarter. Raiffeisen Bank International AG now owns 186 shares of the real estate investment trust's stock worth $28,000 after buying an additional 84 shares during the last quarter. Caitong International Asset Management Co. Ltd acquired a new stake in shares of Extra Space Storage in the third quarter valued at approximately $28,000. Reflection Asset Management bought a new position in shares of Extra Space Storage during the 4th quarter worth approximately $26,000. Cassaday & Co Wealth Management LLC bought a new position in shares of Extra Space Storage during the 1st quarter worth approximately $30,000. Finally, CoreCap Advisors LLC boosted its stake in shares of Extra Space Storage by 975.0% during the 2nd quarter. CoreCap Advisors LLC now owns 258 shares of the real estate investment trust's stock worth $37,000 after acquiring an additional 234 shares during the period. 99.11% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

EXR has been the topic of a number of research analyst reports. Weiss Ratings upgraded Extra Space Storage from a "hold (c)" rating to a "hold (c+)" rating in a research note on Friday, August 7th. Wells Fargo & Company reduced their price objective on shares of Extra Space Storage from $158.00 to $157.00 and set an "overweight" rating for the company in a research report on Tuesday, September 1st. BMO Capital Markets upgraded shares of Extra Space Storage from a "market perform" rating to an "outperform" rating and upped their price objective for the company from $160.00 to $170.00 in a report on Thursday, August 27th. 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 research report on Friday, July 10th. Finally, Wall Street Zen upgraded shares of Extra Space Storage from a "sell" rating to a "hold" rating in a research note on Sunday, August 9th. Seven research analysts have rated the stock with a Buy rating and nine have assigned a Hold rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of "Hold" and an average price target of $148.93.

Extra Space Storage Trading Up 0.1%

Shares of Extra Space Storage stock opened at $139.33 on Monday. The company has a debt-to-equity ratio of 0.96, a quick ratio of 1.56 and a current ratio of 1.56. The firm has a 50-day moving average of $146.48 and a 200-day moving average of $143.84. Extra Space Storage Inc has a 52-week low of $125.71 and a 52-week high of $158.88. The stock has a market cap of $29.44 billion, a PE ratio of 30.76, a PEG ratio of 4.00 and a beta of 1.16.

Extra Space Storage (NYSE:EXR - Get Free Report) last released its quarterly earnings results on Tuesday, July 28th. The real estate investment trust reported $1.25 EPS for the quarter, topping analysts' consensus estimates of $1.16 by $0.09. The business had revenue of $874.15 million for the quarter, compared to analyst estimates of $874.99 million. Extra Space Storage had a net margin of 27.80% and a return on equity of 6.70%. Extra Space Storage's revenue for the quarter was up 3.9% compared to the same quarter last year. During the same period last year, the firm earned $2.05 earnings per share. Extra Space Storage has set its FY 2026 guidance at 8.250-8.400 EPS. As a group, sell-side analysts forecast that Extra Space Storage Inc will post 8.33 EPS for the current year.

Extra Space Storage Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, September 30th. Stockholders of record on Tuesday, September 15th will be issued a dividend of $1.62 per share. The ex-dividend date of this dividend is Tuesday, September 15th. This represents a $6.48 annualized dividend and a dividend yield of 4.7%. Extra Space Storage's dividend payout ratio (DPR) is currently 143.05%.

Insider Buying and Selling at Extra Space Storage

In related news, EVP Gwyn McNeal sold 3,300 shares of the stock in a transaction that occurred 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 sale, the executive vice president 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 filing with the SEC, which is available 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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