NEOS Investment Management LLC Grows Stock Holdings in Extra Space Storage Inc $EXR

Key Points

• NEOS Investment Management increased its Extra Space Storage stake by 11.6% in the second quarter, bringing its holdings to 78,926 shares valued at approximately $11.5 million. Institutional investors collectively own 99.11% of the stock.
• Extra Space Storage reported quarterly EPS of $1.25, beating estimates of $1.16, while revenue rose 3.9% year over year to $874.15 million. The company provided fiscal 2026 EPS guidance of $8.25–$8.40.
• The company declared a quarterly dividend of $1.62 per share, equal to an annualized $6.48 and a 4.7% yield. Analysts maintain a consensus “Hold” rating with an average price target of $148.93, compared with a recent share price of $139.33.

NEOS Investment Management LLC grew its position in shares of Extra Space Storage Inc (NYSE:EXR - Free Report) by 11.6% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 78,926 shares of the real estate investment trust's stock after purchasing an additional 8,227 shares during the period. NEOS Investment Management LLC's holdings in Extra Space Storage were worth $11,468,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Reflection Asset Management purchased a new position in shares of Extra Space Storage during the 4th quarter valued at about $26,000. Caitong International Asset Management Co. Ltd bought a new position in Extra Space Storage during the third quarter valued at approximately $28,000. Cassaday & Co Wealth Management LLC bought a new position in Extra Space Storage during the first quarter valued at approximately $30,000. CoreCap Advisors LLC raised its stake in shares of Extra Space Storage by 975.0% during the second quarter. CoreCap Advisors LLC now owns 258 shares of the real estate investment trust's stock worth $37,000 after acquiring an additional 234 shares in the last quarter. Finally, DV Equities LLC bought a new stake in shares of Extra Space Storage in the 4th quarter worth approximately $39,000. 99.11% of the stock is currently owned by hedge funds and other institutional investors.

Extra Space Storage Trading Down 1.2%

NYSE:EXR opened at $139.33 on Friday. The company has a fifty day moving average of $146.48 and a 200 day moving average of $143.86. Extra Space Storage Inc has a 52 week low of $125.71 and a 52 week high of $158.88. The company has a quick ratio of 1.56, a current ratio of 1.56 and a debt-to-equity ratio of 0.96. The firm has a market capitalization of $29.44 billion, a P/E ratio of 30.76, a P/E/G ratio of 4.00 and a beta of 1.16.

Extra Space Storage (NYSE:EXR - Get Free Report) last announced its quarterly earnings results on Tuesday, July 28th. The real estate investment trust reported $1.25 earnings per share for the quarter, beating the consensus estimate of $1.16 by $0.09. Extra Space Storage had a net margin of 27.80% and a return on equity of 6.70%. The business had revenue of $874.15 million during the quarter, compared to analysts' expectations of $874.99 million. During the same quarter in the prior year, the company posted $2.05 EPS. The firm's revenue for the quarter was up 3.9% compared to the same quarter last year. Extra Space Storage has set its FY 2026 guidance at 8.250-8.400 EPS. On average, research analysts predict that Extra Space Storage Inc will post 8.33 earnings per share for the current year.

Extra Space Storage Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, September 30th. Stockholders of record on Tuesday, September 15th will be issued a dividend of $1.62 per share. This represents a $6.48 dividend on an annualized basis and a dividend yield of 4.7%. The ex-dividend date is Tuesday, September 15th. Extra Space Storage's dividend payout ratio is currently 143.05%.

Analysts Set New Price Targets

A number of equities research analysts have recently issued reports on EXR shares. Wall Street Zen raised shares of Extra Space Storage from a "sell" rating to a "hold" rating in a research note on Sunday, August 9th. Truist Financial boosted their price target on shares of Extra Space Storage from $140.00 to $148.00 and gave the stock a "hold" rating in a research note on Wednesday, June 17th. Bank of America raised shares of Extra Space Storage from an "underperform" rating to a "neutral" rating and boosted their price target for the stock from $147.00 to $156.00 in a research note on Tuesday, June 16th. Wells Fargo & Company reduced their price objective on Extra Space Storage from $158.00 to $157.00 and set an "overweight" rating on the stock in a research note on Tuesday. Finally, UBS Group lifted their price objective on Extra Space Storage from $158.00 to $163.00 and gave the stock a "buy" rating in a report on Friday, July 10th. Seven analysts have rated the stock with a Buy rating and nine have issued a Hold rating to the company's stock. Based on data from MarketBeat.com, Extra Space Storage currently has an average rating of "Hold" and an average price target of $148.93.

Insider Activity

In related news, EVP Gwyn McNeal sold 3,300 shares of the business's stock in a transaction dated Thursday, June 11th. The stock was sold at an average price of $150.00, for a total transaction of $495,000.00. Following the transaction, the executive vice president owned 37,374 shares in the company, valued at $5,606,100. The trade was a 8.11% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 0.96% of the stock is owned by insiders.

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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