Pictet Asset Management Holding SA Decreases Stock Holdings in Extra Space Storage Inc $EXR

Key Points

• Pictet Asset Management cut its stake in Extra Space Storage by 13.4% in the first quarter, selling 182,877 shares and leaving it with 1,179,545 shares worth about $154.6 million.
• Extra Space Storage reported first-quarter EPS of $1.14, well below analysts’ expectations of $2.01, though revenue of $856.03 million slightly topped estimates and rose 4.4% year over year.
• The company declared a quarterly dividend of $1.62 per share, while analysts currently have a mixed view: five Buy ratings, ten Hold ratings, and an average price target of $153.07.

Pictet Asset Management Holding SA lessened its holdings in Extra Space Storage Inc (NYSE:EXR - Free Report) by 13.4% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 1,179,545 shares of the real estate investment trust's stock after selling 182,877 shares during the period. Pictet Asset Management Holding SA owned about 0.56% of Extra Space Storage worth $154,605,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also made changes to their positions in the business. Cromwell Holdings LLC boosted its position in Extra Space Storage by 14.6% during the 4th quarter. Cromwell Holdings LLC now owns 574 shares of the real estate investment trust's stock worth $75,000 after purchasing an additional 73 shares during the period. Gilman Hill Asset Management LLC raised its position in Extra Space Storage by 5.0% in the fourth quarter. Gilman Hill Asset Management LLC now owns 1,690 shares of the real estate investment trust's stock valued at $220,000 after purchasing an additional 80 shares during the period. Brown Advisory Inc. raised its position in Extra Space Storage by 1.8% in the second quarter. Brown Advisory Inc. now owns 4,431 shares of the real estate investment trust's stock valued at $653,000 after purchasing an additional 80 shares during the period. Manchester Capital Management LLC raised its position in Extra Space Storage by 18.9% in the fourth quarter. Manchester Capital Management LLC now owns 540 shares of the real estate investment trust's stock valued at $70,000 after purchasing an additional 86 shares during the period. Finally, Creative Financial Designs Inc. ADV lifted its stake in shares of Extra Space Storage by 39.5% during the fourth quarter. Creative Financial Designs Inc. ADV now owns 325 shares of the real estate investment trust's stock worth $42,000 after purchasing an additional 92 shares in the last quarter. Institutional investors and hedge funds own 99.11% of the company's stock.

Insider Buying and Selling at Extra Space Storage

In other news, EVP Gwyn Goodson Mcneal sold 3,300 shares of the firm's stock in a transaction that occurred on Thursday, June 11th. The shares were sold at an average price of $150.00, for a total transaction of $495,000.00. Following the completion of the sale, the executive vice president owned 37,374 shares of the company's stock, valued at approximately $5,606,100. This trade represents a 8.11% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 0.96% of the company's stock.

Extra Space Storage Stock Down 0.0%

Shares of NYSE EXR opened at $149.18 on Monday. The company has a debt-to-equity ratio of 0.93, a quick ratio of 0.37 and a current ratio of 0.37. Extra Space Storage Inc has a 1 year low of $125.71 and a 1 year high of $155.19. The stock's 50-day simple moving average is $144.11 and its 200-day simple moving average is $140.55. The firm has a market cap of $31.52 billion, a price-to-earnings ratio of 33.45, a PEG ratio of 4.62 and a beta of 1.20.

Extra Space Storage (NYSE:EXR - Get Free Report) last issued its quarterly earnings results on Tuesday, April 28th. The real estate investment trust reported $1.14 EPS for the quarter, missing analysts' consensus estimates of $2.01 by ($0.87). Extra Space Storage had a net margin of 27.66% and a return on equity of 6.65%. The business had revenue of $856.03 million during the quarter, compared to analysts' expectations of $851.35 million. During the same period in the prior year, the company posted $2.00 EPS. The company's revenue for the quarter was up 4.4% on a year-over-year basis. Extra Space Storage has set its FY 2026 guidance at 8.050-8.350 EPS. As a group, equities analysts anticipate that Extra Space Storage Inc will post 8.26 earnings per share for the current fiscal year.

Extra Space Storage Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, June 30th. Stockholders of record on Monday, June 15th will be paid a dividend of $1.62 per share. This represents a $6.48 annualized dividend and a dividend yield of 4.3%. The ex-dividend date is Monday, June 15th. Extra Space Storage's dividend payout ratio is 145.29%.

Analyst Ratings Changes

Several brokerages have recently weighed in on EXR. Weiss Ratings reaffirmed a "hold (c)" rating on shares of Extra Space Storage in a research report on Tuesday, April 21st. UBS Group raised their target price on Extra Space Storage from $148.00 to $158.00 and gave the company a "buy" rating in a report on Monday, May 18th. Wall Street Zen lowered Extra Space Storage from a "hold" rating to a "sell" rating in a research report on Saturday, June 13th. Barclays upped their price target on Extra Space Storage from $164.00 to $170.00 and gave the stock an "overweight" rating in a report on Thursday, March 5th. Finally, Bank of America raised shares of Extra Space Storage from an "underperform" rating to a "neutral" rating and increased their price objective for the company from $147.00 to $156.00 in a research report on Tuesday, June 16th. Five investment analysts have rated the stock with a Buy rating and ten have given a Hold rating to the company's stock. According to data from MarketBeat.com, the company has an average rating of "Hold" and an average price target of $153.07.

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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