Massachusetts Financial Services Co. MA Sells 293,937 Shares of Extra Space Storage Inc $EXR

Key Points

• Large investor sale: Massachusetts Financial Services Co. MA cut its stake in Extra Space Storage by 10.7%, selling 293,937 shares and finishing the quarter with 2,455,386 shares (about 1.16%) worth roughly $319.74 million.
• Results and dividend notes: EXR beat Q4 estimates with $2.08 EPS and $857.5M revenue and set FY2026 guidance of $8.05–$8.35 EPS, but its $6.48 annual dividend yields 4.7% while the payout ratio is an elevated 140.9%, raising sustainability questions.
• Analyst consensus: The stock carries a "Hold" consensus (6 Buy / 9 Hold / 1 Sell) with an average price target of $143.80, amid mixed recent analyst target changes and ratings.

Massachusetts Financial Services Co. MA decreased its position in shares of Extra Space Storage Inc (NYSE:EXR - Free Report) by 10.7% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 2,455,386 shares of the real estate investment trust's stock after selling 293,937 shares during the period. Massachusetts Financial Services Co. MA owned approximately 1.16% of Extra Space Storage worth $319,740,000 at the end of the most recent quarter.

Other large investors have also recently added to or reduced their stakes in the company. Avalon Trust Co bought a new position in Extra Space Storage during the 3rd quarter worth $28,000. Caitong International Asset Management Co. Ltd bought a new position in Extra Space Storage during the 3rd quarter worth $28,000. Versant Capital Management Inc increased its position in 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 worth $30,000 after buying an additional 80 shares during the period. Davis Capital Management bought a new position in Extra Space Storage during the 3rd quarter worth $35,000. Finally, Rosenberg Matthew Hamilton increased its position in Extra Space Storage by 442.9% during the 4th quarter. Rosenberg Matthew Hamilton now owns 266 shares of the real estate investment trust's stock worth $35,000 after buying an additional 217 shares during the period. Institutional investors own 99.11% of the company's stock.

Analyst Ratings Changes

Several research analysts have weighed in on the company. Barclays increased their price objective on Extra Space Storage from $164.00 to $170.00 and gave the stock an "overweight" rating in a research report on Thursday, March 5th. Weiss Ratings reissued a "hold (c)" rating on shares of Extra Space Storage in a report on Thursday, January 22nd. Scotiabank increased their target price on Extra Space Storage from $145.00 to $156.00 and gave the stock a "sector perform" rating in a report on Monday, March 2nd. Wall Street Zen raised Extra Space Storage from a "sell" rating to a "hold" rating in a report on Saturday, April 4th. Finally, UBS Group reduced their target price on Extra Space Storage from $156.00 to $148.00 and set a "buy" rating on the stock in a report on Thursday, January 8th. Six analysts have rated the stock with a Buy rating, nine have issued a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and a consensus price target of $143.80.

Extra Space Storage Stock Performance

EXR opened at $138.68 on Friday. The firm has a market cap of $29.29 billion, a P/E ratio of 30.15, a price-to-earnings-growth ratio of 2.79 and a beta of 1.26. Extra Space Storage Inc has a 52-week low of $125.71 and a 52-week high of $155.19. The company has a debt-to-equity ratio of 0.92, a quick ratio of 0.39 and a current ratio of 0.39. The business's fifty day moving average is $140.57 and its 200-day moving average is $138.43.

Extra Space Storage (NYSE:EXR - Get Free Report) last released its earnings results on Thursday, February 19th. The real estate investment trust reported $2.08 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.03 by $0.05. The company had revenue of $857.47 million for the quarter, compared to analyst estimates of $732.92 million. Extra Space Storage had a return on equity of 6.79% and a net margin of 28.84%.Extra Space Storage's quarterly revenue was up 4.3% on a year-over-year basis. During the same period in the prior year, the firm posted $2.03 EPS. Extra Space Storage has set its FY 2026 guidance at 8.050-8.350 EPS. Sell-side analysts expect that Extra Space Storage Inc will post 8.1 EPS for the current fiscal year.

Extra Space Storage Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, March 31st. Investors of record on Monday, March 16th were paid a $1.62 dividend. The ex-dividend date of this dividend was Monday, March 16th. This represents a $6.48 annualized dividend and a yield of 4.7%. Extra Space Storage's dividend payout ratio (DPR) is 140.87%.

Insiders Place Their Bets

In related news, CEO Joseph D. Margolis sold 7,500 shares of the firm's stock in a transaction dated Friday, March 13th. The stock was sold at an average price of $142.08, for a total value of $1,065,600.00. Following the sale, the chief executive officer directly owned 66,495 shares of the company's stock, valued at $9,447,609.60. This trade represents a 10.14% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. 0.96% of the stock is owned by company insiders.

Extra Space Storage 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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