Legal & General Group Plc Sells 47,445 Shares of Extra Space Storage Inc $EXR

Key Points

• Legal & General Group Plc trimmed its stake in Extra Space Storage by 2.3%, selling 47,445 shares and now holds 2,049,823 shares (about 0.97% of EXR) valued near $288.9 million.
• Extra Space Storage beat quarterly estimates with $2.08 EPS (vs. $2.03) and $857.47M revenue, set FY2026 guidance of $8.05–$8.35 EPS, while analysts show a consensus "Hold" rating with a $145.13 target.
• The company announced a quarterly dividend of $1.62 (annualized $6.48) for a 4.6% yield, though the payout ratio is high (~140.9%), and institutional investors own about 99.11% of the stock.

Legal & General Group Plc reduced its stake in Extra Space Storage Inc (NYSE:EXR - Free Report) by 2.3% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,049,823 shares of the real estate investment trust's stock after selling 47,445 shares during the quarter. Legal & General Group Plc owned about 0.97% of Extra Space Storage worth $288,902,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also bought and sold shares of the stock. Versant Capital Management Inc raised its position in shares of Extra Space Storage by 60.2% during the 3rd quarter. Versant Capital Management Inc now owns 213 shares of the real estate investment trust's stock valued at $30,000 after buying an additional 80 shares in the last quarter. Brown Advisory Inc. grew its position in Extra Space Storage by 1.8% in the second quarter. Brown Advisory Inc. now owns 4,431 shares of the real estate investment trust's stock worth $653,000 after acquiring an additional 80 shares in the last quarter. Prestige Wealth Management Group LLC grew its position in Extra Space Storage by 2.9% in the third quarter. Prestige Wealth Management Group LLC now owns 3,128 shares of the real estate investment trust's stock worth $441,000 after acquiring an additional 88 shares in the last quarter. Exchange Traded Concepts LLC increased its stake in Extra Space Storage by 10.2% in the third quarter. Exchange Traded Concepts LLC now owns 983 shares of the real estate investment trust's stock valued at $139,000 after acquiring an additional 91 shares during the last quarter. Finally, CX Institutional raised its position in Extra Space Storage by 8.7% during the third quarter. CX Institutional now owns 1,193 shares of the real estate investment trust's stock valued at $168,000 after purchasing an additional 95 shares in the last quarter. 99.11% of the stock is currently owned by institutional investors.

Extra Space Storage Stock Performance

NYSE EXR opened at $141.26 on Thursday. The company has a 50-day simple moving average of $143.03 and a two-hundred day simple moving average of $139.80. Extra Space Storage Inc has a 12-month low of $121.03 and a 12-month high of $155.19. The firm has a market cap of $29.83 billion, a price-to-earnings ratio of 30.71, a PEG ratio of 2.95 and a beta of 1.24. The company has a quick ratio of 0.39, a current ratio of 0.39 and a debt-to-equity ratio of 0.92.

Extra Space Storage (NYSE:EXR - Get Free Report) last released its quarterly earnings data on Thursday, February 19th. The real estate investment trust reported $2.08 EPS for the quarter, topping the consensus estimate of $2.03 by $0.05. The firm had revenue of $857.47 million for the quarter, compared to the consensus estimate of $732.92 million. Extra Space Storage had a return on equity of 6.79% and a net margin of 28.84%.The company's quarterly revenue was up 4.3% on a year-over-year basis. During the same quarter in the previous year, the business earned $2.03 earnings per share. 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 8.1 EPS for the current year.

Extra Space Storage Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, March 31st. Shareholders of record on Monday, March 16th will be given a $1.62 dividend. The ex-dividend date is Monday, March 16th. This represents a $6.48 annualized dividend and a yield of 4.6%. Extra Space Storage's payout ratio is presently 140.87%.

Analyst Upgrades and Downgrades

Several equities research analysts have issued reports on the company. UBS Group dropped their price target on Extra Space Storage from $156.00 to $148.00 and set a "buy" rating for the company in a research note on Thursday, January 8th. Morgan Stanley decreased their price objective on Extra Space Storage from $155.00 to $152.00 and set an "equal weight" rating on the stock in a report on Friday, December 5th. Mizuho boosted their target price on Extra Space Storage from $137.00 to $143.00 and gave the stock an "outperform" rating in a research report on Monday, January 12th. Scotiabank upped their target price on Extra Space Storage from $145.00 to $156.00 and gave the stock a "sector perform" rating in a research note on Monday, March 2nd. Finally, 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 report on Thursday, March 5th. Five analysts have rated the stock with a Buy rating, ten have issued a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, Extra Space Storage has a consensus rating of "Hold" and a consensus target price of $145.13.

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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