Legal & General Group Plc Buys 176,735 Shares of Extra Space Storage Inc $EXR

Key Points

• Legal & General Group Plc boosted its Extra Space Storage stake by 8.6% in the fourth quarter, buying 176,735 additional shares and bringing its holdings to 2,226,558 shares worth about $289.9 million.
• Extra Space Storage reported Q1 earnings of $1.14 per share, which missed analyst expectations of $2.01, even though revenue came in slightly above estimates at $856.03 million and rose 4.4% year over year.
• The company declared a quarterly dividend of $1.62 per share to be paid June 30, implying a 4.5% yield, while analysts currently have a mixed but generally cautious view with an average Hold rating and $151 target price.

Legal & General Group Plc increased its stake in shares of Extra Space Storage Inc (NYSE:EXR - Free Report) by 8.6% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 2,226,558 shares of the real estate investment trust's stock after acquiring an additional 176,735 shares during the quarter. Legal & General Group Plc owned about 1.05% of Extra Space Storage worth $289,942,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also bought and sold shares of the company. Avalon Trust Co bought a new position in Extra Space Storage during the third quarter worth $28,000. Caitong International Asset Management Co. Ltd bought a new position in Extra Space Storage during the third quarter worth $28,000. Rosenberg Matthew Hamilton increased its position in Extra Space Storage by 442.9% during the fourth quarter. Rosenberg Matthew Hamilton now owns 266 shares of the real estate investment trust's stock worth $35,000 after acquiring an additional 217 shares during the period. Logan Capital Management Inc. increased its position in Extra Space Storage by 313.7% during the third quarter. Logan Capital Management Inc. now owns 302 shares of the real estate investment trust's stock worth $43,000 after acquiring an additional 229 shares during the period. Finally, Tobam increased its position in Extra Space Storage by 66.1% during the third quarter. Tobam now owns 319 shares of the real estate investment trust's stock worth $45,000 after acquiring an additional 127 shares during the period. Institutional investors own 99.11% of the company's stock.

Insider Transactions at Extra Space Storage

In other Extra Space Storage news, CEO Joseph D. Margolis sold 7,500 shares of the business'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 sale, the chief executive officer owned 66,495 shares of the company's stock, valued at $9,447,609.60. The trade was a 10.14% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. 0.96% of the stock is owned by company insiders.

Extra Space Storage Trading Up 0.6%

Shares of Extra Space Storage stock opened at $144.17 on Wednesday. The firm has a market capitalization of $30.46 billion, a PE ratio of 32.33, a price-to-earnings-growth ratio of 4.66 and a beta of 1.22. The company has a debt-to-equity ratio of 0.93, a current ratio of 0.37 and a quick ratio of 0.37. The company's fifty day moving average price is $138.83 and its two-hundred day moving average price is $138.20. 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 announced its quarterly earnings results on Tuesday, April 28th. The real estate investment trust reported $1.14 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.01 by ($0.87). The business had revenue of $856.03 million during the quarter, compared to the consensus estimate of $851.35 million. Extra Space Storage had a net margin of 27.66% and a return on equity of 6.65%. The company's quarterly revenue was up 4.4% compared to the same quarter last year. During the same period last year, the firm earned $2.00 EPS. Extra Space Storage has set its FY 2026 guidance at 8.050-8.350 EPS. On average, analysts expect that Extra Space Storage Inc will post 8.23 EPS for the current year.

Extra Space Storage Dividend Announcement

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

Analysts Set New Price Targets

A number of equities analysts recently issued reports on EXR shares. JPMorgan Chase & Co. boosted their target price on shares of Extra Space Storage from $142.00 to $144.00 and gave the stock a "neutral" rating in a research report on Monday, March 23rd. BNP Paribas Exane raised shares of Extra Space Storage from a "neutral" rating to an "outperform" rating and set a $154.00 target price on the stock in a research report on Wednesday, March 18th. Scotiabank boosted their target price 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. UBS Group boosted their target price on shares of Extra Space Storage from $148.00 to $158.00 and gave the stock a "buy" rating in a research report on Monday, May 18th. Finally, Wells Fargo & Company dropped their target price on shares of Extra Space Storage from $150.00 to $148.00 and set an "overweight" rating on the stock in a research report on Thursday, April 16th. Five equities research 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's stock. According to data from MarketBeat, the company has an average rating of "Hold" and an average target price of $151.00.

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.

Want to see what other hedge funds are holding EXR? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Extra Space Storage Inc (NYSE:EXR - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.