Paralel Advisors LLC Takes $1.78 Million Position in Extra Space Storage Inc $EXR

Key Points

• Paralel Advisors bought 12,270 shares of Extra Space Storage worth approximately $1.78 million, while institutional investors collectively own 99.11% of the company.
• Analysts remain generally cautious, with a consensus rating of “Hold” and an average price target of $147.87, despite several firms recently raising their targets.
• Extra Space Storage exceeded quarterly earnings expectations with $1.25 EPS and reported 3.9% year-over-year revenue growth. The company declared a quarterly dividend of $1.62, equivalent to a 4.4% annualized yield.

Paralel Advisors LLC purchased a new stake in Extra Space Storage Inc (NYSE:EXR - Free Report) during the 2nd quarter, according to the company in its most recent disclosure with the SEC. The institutional investor purchased 12,270 shares of the real estate investment trust's stock, valued at approximately $1,783,000.

Other hedge funds have also recently made changes to their positions in the company. Caitong International Asset Management Co. Ltd purchased a new stake in Extra Space Storage in the third quarter valued at approximately $28,000. Reflection Asset Management acquired a new stake in shares of Extra Space Storage in the fourth quarter valued at $26,000. Cassaday & Co Wealth Management LLC acquired a new stake in shares of Extra Space Storage in the first quarter valued at $30,000. CoreCap Advisors LLC raised its holdings in shares of Extra Space Storage by 975.0% in the 2nd quarter. CoreCap Advisors LLC now owns 258 shares of the real estate investment trust's stock valued at $37,000 after buying an additional 234 shares during the period. Finally, DV Equities LLC purchased a new stake in shares of Extra Space Storage in the 4th quarter valued at $39,000. Hedge funds and other institutional investors own 99.11% of the company's stock.

Insiders Place Their Bets

In related news, EVP Gwyn Goodson Mcneal sold 3,300 shares of Extra Space Storage stock in a transaction that occurred on Thursday, June 11th. The shares were sold at an average price of $150.00, for a total value of $495,000.00. Following the completion of 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 ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.96% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

A number of equities analysts recently commented on EXR shares. Royal Bank Of Canada raised their target price 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. Mizuho boosted their price target on shares of Extra Space Storage from $150.00 to $155.00 and gave the stock an "outperform" rating in a research note on Wednesday, May 27th. Wall Street Zen raised shares of Extra Space Storage from a "sell" rating to a "hold" rating in a research report on Sunday, August 9th. Wells Fargo & Company raised their price objective on shares of Extra Space Storage from $154.00 to $158.00 and gave the company an "overweight" rating in a research note on Friday, July 24th. Finally, The Goldman Sachs Group restated a "neutral" rating and issued a $160.00 price objective on shares of Extra Space Storage in a report on Thursday, July 30th. Six research analysts have rated the stock with a Buy rating and ten have issued a Hold rating to the company's stock. According to MarketBeat, Extra Space Storage presently has an average rating of "Hold" and a consensus price target of $147.87.

Extra Space Storage Trading Down 0.3%

NYSE:EXR opened at $147.53 on Friday. The firm has a market cap of $31.17 billion, a PE ratio of 32.57, a price-to-earnings-growth ratio of 4.25 and a beta of 1.18. The stock has a fifty day moving average price of $147.37 and a 200 day moving average price of $143.74. Extra Space Storage Inc has a 12-month low of $125.71 and a 12-month high of $158.88. The company has a current ratio of 1.56, a quick ratio of 1.56 and a debt-to-equity ratio of 0.96.

Extra Space Storage (NYSE:EXR - Get Free Report) last issued its quarterly earnings results on Tuesday, July 28th. The real estate investment trust reported $1.25 earnings per share for the quarter, topping the consensus estimate of $1.16 by $0.09. The company had revenue of $874.15 million for the quarter, compared to the consensus estimate of $874.99 million. Extra Space Storage had a return on equity of 6.70% and a net margin of 27.80%.Extra Space Storage's revenue was up 3.9% on a year-over-year basis. During the same quarter in the prior year, the business earned $2.05 EPS. Extra Space Storage has set its FY 2026 guidance at 8.250-8.400 EPS. Sell-side analysts anticipate that Extra Space Storage Inc will post 8.32 earnings per share for the current fiscal year.

Extra Space Storage Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, September 30th. Investors of record on Tuesday, September 15th will be issued a $1.62 dividend. The ex-dividend date of this dividend is Tuesday, September 15th. This represents a $6.48 annualized dividend and a yield of 4.4%. Extra Space Storage's dividend payout ratio (DPR) is 143.05%.

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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