SEB Asset Management AB Invests $5.10 Million in Extra Space Storage Inc $EXR

Key Points

• SEB Asset Management AB bought a new stake in Extra Space Storage during the first quarter, purchasing 38,910 shares valued at about $5.1 million.
• Extra Space Storage reported mixed quarterly results: revenue of $856.03 million slightly beat expectations, but earnings per share of $1.14 missed the consensus estimate of $2.01.
• The company paid a quarterly dividend of $1.62 per share, equal to an annualized yield of about 4.5%, while analysts currently rate the stock a consensus Hold with an average price target of $146.27.

SEB Asset Management AB acquired a new stake in shares of Extra Space Storage Inc (NYSE:EXR - Free Report) during the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund acquired 38,910 shares of the real estate investment trust's stock, valued at approximately $5,102,000.

Other large investors have also modified their holdings of the company. Cromwell Holdings LLC boosted its stake in Extra Space Storage by 14.6% during the fourth quarter. Cromwell Holdings LLC now owns 574 shares of the real estate investment trust's stock worth $75,000 after buying an additional 73 shares in the last quarter. Apollon Wealth Management LLC raised its stake in shares of Extra Space Storage by 1.9% in the 1st quarter. Apollon Wealth Management LLC now owns 3,986 shares of the real estate investment trust's stock valued at $523,000 after buying an additional 75 shares in the last quarter. Gilman Hill Asset Management LLC lifted its holdings in shares of Extra Space Storage by 5.0% during the 4th quarter. Gilman Hill Asset Management LLC now owns 1,690 shares of the real estate investment trust's stock worth $220,000 after acquiring an additional 80 shares during the period. Brown Advisory Inc. lifted its holdings in shares of Extra Space Storage by 1.8% during the 2nd quarter. Brown Advisory Inc. now owns 4,431 shares of the real estate investment trust's stock worth $653,000 after acquiring an additional 80 shares during the period. Finally, Manchester Capital Management LLC boosted its position in shares of Extra Space Storage by 18.9% during the 4th quarter. Manchester Capital Management LLC now owns 540 shares of the real estate investment trust's stock valued at $70,000 after acquiring an additional 86 shares in the last quarter. 99.11% of the stock is currently owned by institutional investors and hedge funds.

Extra Space Storage Trading Down 0.3%

Shares of Extra Space Storage stock opened at $145.18 on Thursday. Extra Space Storage Inc has a 12-month low of $125.71 and a 12-month high of $155.19. The stock has a market capitalization of $30.67 billion, a P/E ratio of 32.55, a price-to-earnings-growth ratio of 4.50 and a beta of 1.19. The company has a 50-day simple moving average of $145.43 and a 200 day simple moving average of $142.53. The company has a quick ratio of 0.37, a current ratio of 0.37 and a debt-to-equity ratio of 0.93.

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

Extra Space Storage Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, June 30th. Investors of record on Monday, June 15th were given a dividend of $1.62 per share. The ex-dividend date was Monday, June 15th. This represents a $6.48 dividend on an annualized basis and a yield of 4.5%. Extra Space Storage's dividend payout ratio is 145.29%.

Wall Street Analyst Weigh In

A number of analysts recently weighed in on the stock. Wells Fargo & Company upped their target price on shares of Extra Space Storage from $148.00 to $154.00 and gave the company an "overweight" rating in a research note on Monday, June 1st. Barclays raised their price target on shares of Extra Space Storage from $170.00 to $172.00 and gave the stock an "overweight" rating in a research note on Friday, July 10th. Bank of America upgraded Extra Space Storage from an "underperform" rating to a "neutral" rating and upped their price objective for the company from $147.00 to $156.00 in a research note on Tuesday, June 16th. UBS Group upped their price objective on Extra Space Storage from $158.00 to $163.00 and gave the company a "buy" rating in a research note on Friday, July 10th. Finally, Weiss Ratings restated a "hold (c)" rating on shares of Extra Space Storage in a research report on Friday, July 17th. Six investment analysts have rated the stock with a Buy rating and ten have assigned a Hold rating to the company's stock. According to data from MarketBeat, the company currently has an average rating of "Hold" and an average price target of $146.27.

Insider Buying and Selling

In related news, EVP Gwyn Goodson Mcneal sold 3,300 shares of the firm's stock in a transaction on Thursday, June 11th. The stock was 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 directly owned 37,374 shares of the company's stock, valued at $5,606,100. This trade represents a 8.11% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. 0.96% of the stock is currently owned by company insiders.

About Extra Space Storage

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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