Geode Capital Management LLC Buys 56,118 Shares of Extra Space Storage Inc $EXR

Key Points

• Geode Capital Management increased its stake in Extra Space Storage by 1.0% in Q4, buying 56,118 additional shares and bringing its total holding to 5,945,315 shares worth about $771.4 million.
• Insider selling was reported as CEO Joseph D. Margolis sold 7,500 shares at an average price of $142.08, trimming his position by about 10.14%.
• Extra Space Storage missed earnings estimates in its latest quarter, posting $1.14 EPS versus the expected $2.01, while revenue came in slightly above expectations at $856.03 million; the company also declared a quarterly dividend of $1.62 per share, yielding about 4.5% annually.

Geode Capital Management LLC grew its stake in Extra Space Storage Inc (NYSE:EXR - Free Report) by 1.0% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 5,945,315 shares of the real estate investment trust's stock after acquiring an additional 56,118 shares during the quarter. Geode Capital Management LLC owned 2.80% of Extra Space Storage worth $771,397,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently modified their holdings of the stock. Cromwell Holdings LLC increased its stake in shares of Extra Space Storage by 14.6% in the 4th quarter. Cromwell Holdings LLC now owns 574 shares of the real estate investment trust's stock valued at $75,000 after acquiring an additional 73 shares during the last quarter. Gilman Hill Asset Management LLC increased its stake in shares of Extra Space Storage by 5.0% in the 4th quarter. Gilman Hill Asset Management LLC now owns 1,690 shares of the real estate investment trust's stock valued at $220,000 after acquiring an additional 80 shares during the last quarter. Brown Advisory Inc. increased its stake in shares of Extra Space Storage by 1.8% in the 2nd quarter. Brown Advisory Inc. now owns 4,431 shares of the real estate investment trust's stock valued at $653,000 after acquiring an additional 80 shares during the last quarter. Prestige Wealth Management Group LLC increased its stake in shares of Extra Space Storage by 2.9% in the 3rd quarter. Prestige Wealth Management Group LLC now owns 3,128 shares of the real estate investment trust's stock valued at $441,000 after acquiring an additional 88 shares during the last quarter. Finally, Creative Financial Designs Inc. ADV increased its stake in shares of Extra Space Storage by 39.5% in the 4th quarter. Creative Financial Designs Inc. ADV now owns 325 shares of the real estate investment trust's stock valued at $42,000 after acquiring an additional 92 shares during the last quarter. 99.11% of the stock is owned by institutional investors.

Insiders Place Their Bets

In other Extra Space Storage news, CEO Joseph D. Margolis sold 7,500 shares of the company's stock in a transaction that occurred on Friday, March 13th. The stock was sold at an average price of $142.08, for a total transaction of $1,065,600.00. Following the completion of the transaction, the chief executive officer owned 66,495 shares of the company's stock, valued at $9,447,609.60. This represents a 10.14% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. 0.96% of the stock is currently owned by company insiders.

Extra Space Storage Price Performance

NYSE EXR opened at $144.50 on Friday. The business has a 50 day simple moving average of $139.25 and a 200 day simple moving average of $138.43. Extra Space Storage Inc has a 52-week low of $125.71 and a 52-week high of $155.19. The company has a debt-to-equity ratio of 0.93, a quick ratio of 0.37 and a current ratio of 0.37. The stock has a market cap of $30.53 billion, a price-to-earnings ratio of 32.40, a PEG ratio of 4.69 and a beta of 1.22.

Extra Space Storage (NYSE:EXR - Get Free Report) last posted 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 the consensus estimate of $851.35 million. During the same period in the previous year, the company posted $2.00 earnings per share. Extra Space Storage's revenue for the quarter 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. Analysts anticipate that Extra Space Storage Inc will post 8.23 earnings per share for the current fiscal year.

Extra Space Storage Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, June 30th. Shareholders of record on Monday, June 15th will be given a dividend of $1.62 per share. The ex-dividend date of this dividend is Monday, June 15th. This represents a $6.48 dividend on an annualized basis and a yield of 4.5%. Extra Space Storage's dividend payout ratio is 145.29%.

Analyst Upgrades and Downgrades

EXR has been the subject of a number of recent analyst reports. Wall Street Zen raised Extra Space Storage from a "sell" rating to a "hold" rating in a research note on Saturday. Barclays increased their target price 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. Royal Bank Of Canada increased their target price on Extra Space Storage from $142.00 to $153.00 and gave the stock a "sector perform" rating in a research note on Monday, February 23rd. Truist Financial lowered their target price on Extra Space Storage from $158.00 to $150.00 and set a "hold" rating for the company in a research note on Wednesday, May 6th. Finally, Wells Fargo & Company lowered their target price on Extra Space Storage from $150.00 to $148.00 and set an "overweight" rating for the company in a research note on Thursday, April 16th. Five investment analysts have rated the stock with a Buy rating, nine have assigned a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, Extra Space Storage has a consensus rating of "Hold" and a consensus target price of $151.86.

Extra Space Storage 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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