JPMorgan Chase & Co. Boosts Stake in Extra Space Storage Inc $EXR

Key Points

• JPMorgan Chase & Co. increased its stake in Extra Space Storage by 2.0% in the fourth quarter, bringing its holdings to 3.94 million shares valued at about $513.6 million.
• Analysts remain mixed on EXR: the stock currently carries an average Hold rating with a consensus price target of $152.29, though several firms recently raised their targets.
• Extra Space Storage reported Q1 earnings that missed estimates with EPS of $1.14 versus $2.01 expected, but revenue slightly beat forecasts and the company declared a quarterly dividend of $1.62 per share payable June 30.

JPMorgan Chase & Co. grew its position in shares of Extra Space Storage Inc (NYSE:EXR - Free Report) by 2.0% during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 3,944,084 shares of the real estate investment trust's stock after buying an additional 77,221 shares during the quarter. JPMorgan Chase & Co. owned 1.86% of Extra Space Storage worth $513,599,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Avalon Trust Co purchased a new stake in shares of Extra Space Storage during the third quarter valued at approximately $28,000. Caitong International Asset Management Co. Ltd purchased a new position in Extra Space Storage in the third quarter worth $28,000. Rosenberg Matthew Hamilton boosted its position in Extra Space Storage by 442.9% in the fourth quarter. Rosenberg Matthew Hamilton now owns 266 shares of the real estate investment trust's stock worth $35,000 after purchasing an additional 217 shares during the last quarter. Creative Financial Designs Inc. ADV grew its stake in 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 purchasing an additional 92 shares during the period. Finally, Logan Capital Management Inc. grew its stake in Extra Space Storage by 313.7% in the 3rd quarter. Logan Capital Management Inc. now owns 302 shares of the real estate investment trust's stock valued at $43,000 after purchasing an additional 229 shares during the period. Hedge funds and other institutional investors own 99.11% of the company's stock.

Analysts Set New Price Targets

A number of equities research analysts have recently commented on EXR shares. Wells Fargo & Company lifted their target price on Extra Space Storage from $148.00 to $154.00 and gave the stock an "overweight" rating in a research note on Monday, June 1st. Truist Financial reduced their price target on shares of Extra Space Storage from $158.00 to $150.00 and set a "hold" rating for the company in a research report on Wednesday, May 6th. UBS Group raised their price objective on shares of Extra Space Storage from $148.00 to $158.00 and gave the stock a "buy" rating in a report on Monday, May 18th. Scotiabank lifted their price objective on shares of Extra Space Storage from $145.00 to $156.00 and gave the stock a "sector perform" rating in a research report on Monday, March 2nd. Finally, Weiss Ratings reissued a "hold (c)" rating on shares of Extra Space Storage in a research report on Tuesday, April 21st. Five analysts have rated the stock with a Buy rating, nine have assigned a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, Extra Space Storage currently has an average rating of "Hold" and a consensus target price of $152.29.

Extra Space Storage Trading Up 1.1%

Shares of EXR opened at $149.85 on Thursday. Extra Space Storage Inc has a twelve month low of $125.71 and a twelve month high of $155.19. The stock has a market cap of $31.66 billion, a PE ratio of 33.60, a P/E/G ratio of 4.81 and a beta of 1.20. The company has a quick ratio of 0.37, a current ratio of 0.37 and a debt-to-equity ratio of 0.93. The business's 50-day moving average price is $141.54 and its 200-day moving average price is $139.25.

Extra Space Storage (NYSE:EXR - Get Free Report) last issued its quarterly earnings data on Tuesday, April 28th. The real estate investment trust reported $1.14 EPS for the quarter, missing the consensus estimate 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%. Extra Space Storage's revenue was up 4.4% on a year-over-year basis. During the same period in the prior year, the firm posted $2.00 EPS. Extra Space Storage has set its FY 2026 guidance at 8.050-8.350 EPS. On average, equities analysts forecast that Extra Space Storage Inc will post 8.24 EPS for the current fiscal year.

Extra Space Storage Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, June 30th. Stockholders of record on Monday, June 15th will be given a dividend of $1.62 per share. This represents a $6.48 dividend on an annualized basis and a dividend yield of 4.3%. The ex-dividend date is Monday, June 15th. Extra Space Storage's payout ratio is 145.29%.

Insider Buying and Selling at Extra Space Storage

In other news, CEO Joseph D. Margolis sold 7,500 shares of the company's stock in a transaction 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 owned 66,495 shares of the company's stock, valued at approximately $9,447,609.60. This represents a 10.14% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, 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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