Harbour Investments Inc. Has $1.07 Million Stake in Extra Space Storage Inc $EXR

Key Points

• Harbour Investments sharply increased its stake in Extra Space Storage, reporting ownership of 8,200 shares worth about $1.07 million after a massive fourth-quarter purchase.
• Extra Space Storage posted mixed recent results: quarterly EPS of $1.14 missed expectations, while revenue of $856.0 million slightly topped estimates and rose 4.4% year over year.
• The REIT declared a quarterly dividend of $1.62 per share payable June 30, yielding about 4.5%, while analysts currently rate the stock Hold on average with a consensus target around $151.86.

Harbour Investments Inc. raised its position in shares of Extra Space Storage Inc (NYSE:EXR - Free Report) by 15,978.4% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 8,200 shares of the real estate investment trust's stock after buying an additional 8,149 shares during the period. Harbour Investments Inc.'s holdings in Extra Space Storage were worth $1,068,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also modified their holdings of EXR. NewEdge Advisors LLC grew its stake in shares of Extra Space Storage by 9.3% during the first quarter. NewEdge Advisors LLC now owns 3,409 shares of the real estate investment trust's stock valued at $506,000 after purchasing an additional 291 shares during the last quarter. Empowered Funds LLC grew its stake in shares of Extra Space Storage by 15.5% during the first quarter. Empowered Funds LLC now owns 4,912 shares of the real estate investment trust's stock valued at $729,000 after purchasing an additional 661 shares during the last quarter. Sivia Capital Partners LLC bought a new stake in shares of Extra Space Storage during the second quarter valued at approximately $457,000. First Trust Advisors LP grew its stake in shares of Extra Space Storage by 184.1% during the second quarter. First Trust Advisors LP now owns 108,205 shares of the real estate investment trust's stock valued at $15,954,000 after purchasing an additional 70,115 shares during the last quarter. Finally, Brown Advisory Inc. grew its stake in shares of Extra Space Storage by 1.8% during the second quarter. Brown Advisory Inc. now owns 4,431 shares of the real estate investment trust's stock valued at $653,000 after purchasing an additional 80 shares during the last quarter. 99.11% of the stock is owned by institutional investors.

Extra Space Storage Price Performance

Shares of EXR stock opened at $144.50 on Friday. Extra Space Storage Inc has a 52-week low of $125.71 and a 52-week high of $155.19. The stock has a market cap of $30.53 billion, a PE ratio of 32.40, a PEG ratio of 4.74 and a beta of 1.22. 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 firm's 50 day moving average price is $139.25 and its two-hundred day moving average price is $138.43.

Extra Space Storage (NYSE:EXR - Get Free Report) last announced 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 net margin of 27.66% and a return on equity of 6.65%. The business had revenue of $856.03 million during the quarter, compared to the consensus estimate of $851.35 million. During the same period in the previous year, the business posted $2.00 earnings per share. Extra Space Storage's 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. As a group, analysts forecast that Extra Space Storage Inc will post 8.23 EPS for the current year.

Extra Space Storage Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 30th. Shareholders of record on Monday, June 15th will be paid a $1.62 dividend. 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 (DPR) is presently 145.29%.

Analyst Upgrades and Downgrades

Several analysts have recently commented on the stock. JPMorgan Chase & Co. increased their price target on shares of Extra Space Storage from $142.00 to $144.00 and gave the company a "neutral" rating in a research note on Monday, March 23rd. Wells Fargo & Company decreased their price target on shares of Extra Space Storage from $150.00 to $148.00 and set an "overweight" rating on the stock in a research note on Thursday, April 16th. Barclays increased their price target on shares of Extra Space Storage from $164.00 to $170.00 and gave the company an "overweight" rating in a research note on Thursday, March 5th. UBS Group increased their price target on shares of Extra Space Storage from $148.00 to $158.00 and gave the company a "buy" rating in a research note on Monday, May 18th. Finally, Royal Bank Of Canada increased their price target on shares of Extra Space Storage from $142.00 to $153.00 and gave the company a "sector perform" rating in a research note on Monday, February 23rd. Five equities research analysts have rated the stock with a Buy rating, nine have issued a Hold rating and one has issued a Sell rating to the company's stock. According to MarketBeat, the company currently has an average rating of "Hold" and an average target price of $151.86.

Insider Transactions at Extra Space Storage

In other Extra Space Storage news, CEO Joseph D. Margolis sold 7,500 shares of the firm's stock in a transaction that occurred on Friday, March 13th. The shares were sold at an average price of $142.08, for a total value of $1,065,600.00. Following the transaction, the chief executive officer directly owned 66,495 shares of the company's stock, valued at approximately $9,447,609.60. This trade represents a 10.14% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed 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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