Hsbc Holdings PLC Increases Stock Holdings in Extra Space Storage Inc $EXR

Key Points

• Hsbc Holdings PLC increased its stake in Extra Space Storage by 8.3% in the fourth quarter, now holding 836,315 shares valued at about $108.95 million.
• Institutional ownership remains very high, with several major investors including Cohen & Steers, State Street, and Norges Bank also boosting or initiating positions; 99.11% of EXR shares are owned by institutions and hedge funds.
• Analysts are mixed but generally cautious: the stock has an average Hold rating with an average target price of $153.07, while the company recently reported earnings below expectations and announced a quarterly dividend of $1.62 per share.

Hsbc Holdings PLC boosted its position in shares of Extra Space Storage Inc (NYSE:EXR - Free Report) by 8.3% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 836,315 shares of the real estate investment trust's stock after purchasing an additional 63,979 shares during the period. Hsbc Holdings PLC owned approximately 0.40% of Extra Space Storage worth $108,954,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently bought and sold shares of the company. Cohen & Steers Inc. grew its stake in shares of Extra Space Storage by 13.4% in the 4th quarter. Cohen & Steers Inc. now owns 15,979,424 shares of the real estate investment trust's stock valued at $2,080,971,000 after buying an additional 1,888,763 shares during the period. State Street Corp lifted its holdings in Extra Space Storage by 1.7% in the third quarter. State Street Corp now owns 13,910,878 shares of the real estate investment trust's stock valued at $1,960,599,000 after acquiring an additional 230,697 shares during the last quarter. Norges Bank acquired a new position in Extra Space Storage in the fourth quarter valued at approximately $1,219,606,000. Capital World Investors grew its position in Extra Space Storage by 0.5% in the third quarter. Capital World Investors now owns 7,161,360 shares of the real estate investment trust's stock worth $1,009,371,000 after acquiring an additional 33,622 shares during the period. Finally, Capital International Investors grew its position in Extra Space Storage by 73.9% in the fourth quarter. Capital International Investors now owns 6,256,687 shares of the real estate investment trust's stock worth $814,746,000 after acquiring an additional 2,658,947 shares during the period. 99.11% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of research firms have commented on EXR. Truist Financial lifted their target price on Extra Space Storage from $140.00 to $148.00 and gave the company a "hold" rating in a research report on Wednesday. UBS Group increased their price target on Extra Space Storage from $148.00 to $158.00 and gave the stock a "buy" rating in a report on Monday, May 18th. BNP Paribas Exane raised Extra Space Storage from a "neutral" rating to an "outperform" rating and set a $154.00 price objective for the company in a research report on Wednesday, March 18th. Wells Fargo & Company boosted their price objective 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, JPMorgan Chase & Co. upped their target price on shares of Extra Space Storage from $142.00 to $144.00 and gave the company a "neutral" rating in a research report on Monday, March 23rd. Five analysts have rated the stock with a Buy rating and ten have assigned a Hold rating to the company. According to data from MarketBeat, the stock currently has an average rating of "Hold" and an average target price of $153.07.

Extra Space Storage Price Performance

EXR stock opened at $145.36 on Monday. 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 company has a market capitalization of $30.71 billion, a PE ratio of 32.59, a P/E/G ratio of 4.50 and a beta of 1.20. Extra Space Storage Inc has a 12-month low of $125.71 and a 12-month high of $155.19. The business's fifty day moving average price is $143.38 and its 200 day moving average price is $139.97.

Extra Space Storage (NYSE:EXR - Get Free Report) last announced its earnings results on Tuesday, April 28th. The real estate investment trust reported $1.14 EPS for the quarter, missing analysts' consensus estimates of $2.01 by ($0.87). The firm had revenue of $856.03 million for the quarter, compared to analysts' expectations of $851.35 million. Extra Space Storage had a net margin of 27.66% and a return on equity of 6.65%. The business's revenue was up 4.4% compared to the same quarter last year. During the same quarter last year, the business earned $2.00 earnings per share. Extra Space Storage has set its FY 2026 guidance at 8.050-8.350 EPS. On average, sell-side analysts anticipate that Extra Space Storage Inc will post 8.26 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. Stockholders 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 annualized dividend and a dividend yield of 4.5%. Extra Space Storage's dividend payout ratio (DPR) is presently 145.29%.

Insider Activity at Extra Space Storage

In related news, EVP Gwyn Goodson Mcneal sold 3,300 shares of Extra Space Storage stock in a transaction that occurred on Thursday, June 11th. The shares were sold at an average price of $150.00, for a total value of $495,000.00. Following the completion of the transaction, the executive vice president owned 37,374 shares in the company, valued at approximately $5,606,100. The trade was a 8.11% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders own 0.96% of the company's stock.

Extra Space Storage Company 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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