Pictet Asset Management Holding SA Acquires 895,013 Shares of Extra Space Storage Inc $EXR

Pictet Asset Management Holding SA boosted its holdings in Extra Space Storage Inc (NYSE:EXR - Free Report) by 191.5% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,362,422 shares of the real estate investment trust's stock after buying an additional 895,013 shares during the quarter. Pictet Asset Management Holding SA owned approximately 0.64% of Extra Space Storage worth $177,425,000 at the end of the most recent reporting period.

A number of other large investors have also added to or reduced their stakes in the business. KLP Kapitalforvaltning AS raised its holdings in Extra Space Storage by 0.7% in the 4th quarter. KLP Kapitalforvaltning AS now owns 73,780 shares of the real estate investment trust's stock valued at $9,608,000 after buying an additional 500 shares during the last quarter. Ruffer LLP raised its holdings in Extra Space Storage by 14.4% in the 4th quarter. Ruffer LLP now owns 385,535 shares of the real estate investment trust's stock valued at $50,283,000 after buying an additional 48,593 shares during the last quarter. M&T Bank Corp raised its holdings in Extra Space Storage by 60.9% in the 4th quarter. M&T Bank Corp now owns 21,815 shares of the real estate investment trust's stock valued at $2,841,000 after buying an additional 8,258 shares during the last quarter. Universal Beteiligungs und Servicegesellschaft mbH raised its holdings in Extra Space Storage by 8.2% in the 4th quarter. Universal Beteiligungs und Servicegesellschaft mbH now owns 565,267 shares of the real estate investment trust's stock valued at $74,096,000 after buying an additional 42,698 shares during the last quarter. Finally, Vert Asset Management LLC raised its holdings in Extra Space Storage by 6.8% in the 4th quarter. Vert Asset Management LLC now owns 103,492 shares of the real estate investment trust's stock valued at $13,477,000 after buying an additional 6,571 shares during the last quarter. Institutional investors own 99.11% of the company's stock.

Wall Street Analyst Weigh In

A number of analysts have weighed in on the stock. Truist Financial increased their target price on shares of Extra Space Storage from $142.00 to $146.00 and gave the company a "hold" rating in a research report on Tuesday, January 20th. Weiss Ratings reissued a "hold (c)" rating on shares of Extra Space Storage in a research report on Tuesday, April 21st. Wells Fargo & Company decreased their target price on shares of Extra Space Storage from $150.00 to $148.00 and set an "overweight" rating for the company in a research report on Thursday, April 16th. Scotiabank increased their target price on shares of Extra Space Storage from $145.00 to $156.00 and gave the company a "sector perform" rating in a research report on Monday, March 2nd. Finally, UBS Group decreased their target price on shares of Extra Space Storage from $156.00 to $148.00 and set a "buy" rating for the company in a research report on Thursday, January 8th. Six investment analysts have rated the stock with a Buy rating, nine have assigned a Hold rating and one has issued a Sell rating to the company's stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Hold" and an average target price of $143.67.

Insider Transactions at Extra Space Storage

In related news, CEO Joseph D. Margolis sold 7,500 shares of the stock in a transaction on Friday, March 13th. The shares were sold at an average price of $142.08, for a total transaction of $1,065,600.00. Following the transaction, the chief executive officer directly owned 66,495 shares of the company's stock, valued at $9,447,609.60. This represents a 10.14% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.96% of the stock is currently owned by corporate insiders.

Extra Space Storage Stock Performance

Shares of EXR stock opened at $139.61 on Tuesday. The firm has a 50 day moving average of $140.79 and a 200-day moving average of $138.51. The company has a market cap of $29.49 billion, a price-to-earnings ratio of 30.35, a price-to-earnings-growth ratio of 2.85 and a beta of 1.26. 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 Inc has a 52 week low of $125.71 and a 52 week high of $155.19.

Extra Space Storage (NYSE:EXR - Get Free Report) last issued 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 business had revenue of $857.47 million for the quarter, compared to analyst estimates of $732.92 million. Extra Space Storage had a net margin of 28.84% and a return on equity of 6.79%. Extra Space Storage's revenue was up 4.3% on a year-over-year basis. During the same period in the prior year, the firm 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 8.24 earnings per share for the current year.

Extra Space Storage Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, March 31st. Investors of record on Monday, March 16th were paid a dividend of $1.62 per share. The ex-dividend date of this dividend was Monday, March 16th. This represents a $6.48 annualized dividend and a yield of 4.6%. Extra Space Storage's dividend payout ratio is currently 140.87%.

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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