Oppenheimer Asset Management Inc. Acquires New Stake in Extra Space Storage Inc $EXR

Key Points

• Oppenheimer Asset Management acquired 16,919 shares of Extra Space Storage in the second quarter, valued at approximately $2.46 million. Institutional investors collectively own 99.11% of the company.
• Extra Space Storage exceeded quarterly earnings expectations, reporting $1.25 in adjusted EPS versus the $1.16 consensus estimate; revenue rose 3.9% year over year to $874.15 million.
• Analyst sentiment remains mixed: six analysts rate the stock a Buy and ten rate it a Hold, producing a consensus rating of Hold and an average price target of $147.73, slightly below the reported $147.98 share price.

Oppenheimer Asset Management Inc. acquired a new stake in Extra Space Storage Inc (NYSE:EXR - Free Report) during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm acquired 16,919 shares of the real estate investment trust's stock, valued at approximately $2,458,000.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in EXR. Reflection Asset Management acquired a new stake in shares of Extra Space Storage in the fourth quarter valued at about $26,000. Caitong International Asset Management Co. Ltd acquired a new position in Extra Space Storage during the third quarter worth about $28,000. Cassaday & Co Wealth Management LLC purchased a new stake in Extra Space Storage during the 1st quarter valued at about $30,000. CoreCap Advisors LLC grew its stake in Extra Space Storage by 975.0% during the 2nd quarter. CoreCap Advisors LLC now owns 258 shares of the real estate investment trust's stock valued at $37,000 after acquiring an additional 234 shares in the last quarter. Finally, DV Equities LLC purchased a new stake in Extra Space Storage during the 4th quarter valued at about $39,000. Institutional investors and hedge funds own 99.11% of the company's stock.

Insider Buying and Selling

In related news, EVP Gwyn Goodson Mcneal sold 3,300 shares of the company's stock in a transaction that occurred on Thursday, June 11th. The stock was sold at an average price of $150.00, for a total value of $495,000.00. Following the transaction, the executive vice president directly owned 37,374 shares in the company, valued at approximately $5,606,100. This represents a 8.11% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Corporate insiders own 0.96% of the company's stock.

Extra Space Storage Price Performance

Shares of EXR stock opened at $147.98 on Monday. The company has a debt-to-equity ratio of 0.96, a current ratio of 1.56 and a quick ratio of 1.56. The company has a market capitalization of $31.26 billion, a PE ratio of 32.67, a price-to-earnings-growth ratio of 4.26 and a beta of 1.18. The firm's 50-day moving average is $147.45 and its two-hundred day moving average is $143.48. Extra Space Storage Inc has a 12 month low of $125.71 and a 12 month high of $158.88.

Extra Space Storage (NYSE:EXR - Get Free Report) last posted 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. The business had revenue of $874.15 million during the quarter, compared to analysts' expectations of $874.99 million. Extra Space Storage had a net margin of 27.80% and a return on equity of 6.70%. The business's revenue for the quarter was up 3.9% on a year-over-year basis. During the same quarter in the prior year, the company posted $2.05 EPS. Extra Space Storage has set its FY 2026 guidance at 8.250-8.400 EPS. Analysts predict that Extra Space Storage Inc will post 8.31 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of research analysts have weighed in on the stock. UBS Group raised their target price on shares of Extra Space Storage from $158.00 to $163.00 and gave the stock a "buy" rating in a research note on Friday, July 10th. Mizuho upped their price target on Extra Space Storage from $150.00 to $155.00 and gave the company an "outperform" rating in a research report on Wednesday, May 27th. Bank of America raised Extra Space Storage from an "underperform" rating to a "neutral" rating and increased their price target for the company from $147.00 to $156.00 in a report on Tuesday, June 16th. Royal Bank Of Canada increased their price target on Extra Space Storage from $153.00 to $157.00 and gave the company a "sector perform" rating in a report on Thursday, July 30th. Finally, Wells Fargo & Company boosted their price objective on Extra Space Storage from $154.00 to $158.00 and gave the stock an "overweight" rating in a research note on Friday, July 24th. Six research analysts have rated the stock with a Buy rating and ten have issued a Hold rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of "Hold" and a consensus target price of $147.73.

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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