Hsbc Holdings PLC Purchases 63,979 Shares of Extra Space Storage Inc $EXR

Key Points

• HSBC Holdings PLC increased its stake in Extra Space Storage by 8.3% in the fourth quarter, buying 63,979 additional shares and bringing its holdings to 836,315 shares valued at about $109 million.
• Institutional ownership remains extremely high, with 99.11% of Extra Space Storage shares held by institutions. Several large firms, including Norges Bank and Capital International Investors, also significantly boosted their positions.
• Analyst sentiment is mixed but generally cautious: the stock has a Hold average rating with a $153.07 target price, while the company recently reported Q1 EPS of $1.14, missing expectations, and paid 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 disclosure with the Securities & Exchange Commission. The institutional investor owned 836,315 shares of the real estate investment trust's stock after buying 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 hedge funds have also recently bought and sold shares of the company. Norges Bank bought a new position in Extra Space Storage in the fourth quarter valued at approximately $1,219,606,000. Capital International Investors lifted its stake in Extra Space Storage by 73.9% during 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 purchasing an additional 2,658,947 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its holdings in shares of Extra Space Storage by 900.0% in the 3rd quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 2,187,795 shares of the real estate investment trust's stock valued at $308,348,000 after purchasing an additional 1,969,013 shares in the last quarter. Cohen & Steers Inc. boosted its holdings 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 purchasing an additional 1,888,763 shares in the last quarter. Finally, Resolution Capital Ltd increased its stake in shares of Extra Space Storage by 116.2% in the 2nd quarter. Resolution Capital Ltd now owns 1,950,842 shares of the real estate investment trust's stock valued at $287,632,000 after purchasing an additional 1,048,685 shares during the last quarter. 99.11% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of equities analysts have recently commented on the company. UBS Group boosted 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. Weiss Ratings reiterated a "hold (c)" rating on shares of Extra Space Storage in a research report on Tuesday, April 21st. BNP Paribas Exane raised Extra Space Storage from a "neutral" rating to an "outperform" rating and set a $154.00 target price for the company in a research note on Wednesday, March 18th. JPMorgan Chase & Co. boosted their target price on Extra Space Storage from $142.00 to $144.00 and gave the stock a "neutral" rating in a research note on Monday, March 23rd. Finally, Wall Street Zen cut shares of Extra Space Storage from a "hold" rating to a "sell" rating in a report on Saturday, June 13th. Five equities research analysts have rated the stock with a Buy rating and ten have given a Hold rating to the company. Based on data from MarketBeat, Extra Space Storage has an average rating of "Hold" and an average target price of $153.07.

Insider Activity

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 transaction of $495,000.00. Following the sale, the executive vice president directly owned 37,374 shares in the company, valued at $5,606,100. This trade represents a 8.11% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.96% of the stock is owned by corporate insiders.

Extra Space Storage Stock Down 0.0%

Shares of NYSE:EXR opened at $149.29 on Friday. The company has a fifty day moving average of $144.52 and a 200-day moving average of $141.08. The company has a market capitalization of $31.54 billion, a PE ratio of 33.47, a price-to-earnings-growth ratio of 4.63 and a beta of 1.19. The company has a debt-to-equity ratio of 0.93, a quick ratio of 0.37 and a current ratio of 0.37. Extra Space Storage Inc has a 52-week low of $125.71 and a 52-week high of $155.19.

Extra Space Storage (NYSE:EXR - Get Free Report) last released its quarterly earnings data on Tuesday, April 28th. The real estate investment trust reported $1.14 earnings per share for the quarter, missing the consensus estimate 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 firm had revenue of $856.03 million for the quarter, compared to analyst estimates of $851.35 million. During the same period last year, the business earned $2.00 EPS. The company'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. On average, equities analysts predict that Extra Space Storage Inc will post 8.26 EPS for the current fiscal year.

Extra Space Storage Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, June 30th. Stockholders of record on Monday, June 15th were paid a $1.62 dividend. The ex-dividend date of this dividend was Monday, June 15th. This represents a $6.48 annualized dividend and a dividend yield of 4.3%. Extra Space Storage's dividend payout ratio is currently 145.29%.

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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