SG Americas Securities LLC Has $24.58 Million Stock Holdings in Extra Space Storage Inc $EXR

Key Points

• SG Americas Securities LLC boosted its stake in Extra Space Storage by 193.1% in Q4, buying an additional 124,338 shares to hold 188,716 shares worth about $24.58 million (0.09% of the company).
• Institutional investors own 99.11% of EXR, with major moves including Norges Bank’s new ~$1.06 billion stake and UBS AM increasing to 2,187,795 shares, while analysts hold a consensus "Hold" rating with a $143.80 price target.
• Extra Space Storage declared a quarterly dividend of $1.62 (annualized $6.48), yielding 5.0%, but the payout ratio is a high 140.87%, which may raise questions about dividend sustainability.

SG Americas Securities LLC increased its holdings in shares of Extra Space Storage Inc (NYSE:EXR - Free Report) by 193.1% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 188,716 shares of the real estate investment trust's stock after buying an additional 124,338 shares during the quarter. SG Americas Securities LLC owned 0.09% of Extra Space Storage worth $24,575,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also recently bought and sold shares of the company. Norges Bank acquired a new stake in Extra Space Storage during the 2nd quarter worth about $1,058,303,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its holdings in shares of Extra Space Storage by 900.0% in the 3rd quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 2,187,795 shares of the real estate investment trust's stock valued at $308,348,000 after purchasing an additional 1,969,013 shares during the period. Resolution Capital Ltd increased its holdings in shares of Extra Space Storage by 116.2% in the 2nd quarter. Resolution Capital Ltd now owns 1,950,842 shares of the real estate investment trust's stock valued at $287,632,000 after purchasing an additional 1,048,685 shares during the period. Russell Investments Group Ltd. lifted its position in shares of Extra Space Storage by 85.7% in the third quarter. Russell Investments Group Ltd. now owns 1,441,444 shares of the real estate investment trust's stock worth $203,160,000 after purchasing an additional 665,204 shares in the last quarter. Finally, Marshall Wace LLP boosted its holdings in shares of Extra Space Storage by 60.1% during the second quarter. Marshall Wace LLP now owns 1,477,404 shares of the real estate investment trust's stock worth $217,828,000 after purchasing an additional 554,666 shares during the period. 99.11% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In related news, CEO Joseph D. Margolis sold 7,500 shares of the company's stock in a transaction on Friday, March 13th. The shares were sold at an average price of $142.08, for a total value of $1,065,600.00. Following the completion of the sale, the chief executive officer directly owned 66,495 shares in the company, valued at approximately $9,447,609.60. This represents a 10.14% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Insiders own 0.96% of the company's stock.

Wall Street Analysts Forecast Growth

A number of brokerages recently commented on EXR. JPMorgan Chase & Co. boosted their price objective on shares of Extra Space Storage from $142.00 to $144.00 and gave the company a "neutral" rating in a research report on Monday. Wells Fargo & Company cut their target price on shares of Extra Space Storage from $160.00 to $150.00 and set an "overweight" rating for the company in a research report on Thursday, February 5th. Royal Bank Of Canada lifted their target price on shares of Extra Space Storage from $142.00 to $153.00 and gave the company a "sector perform" rating in a research note on Monday, February 23rd. BNP Paribas Exane upgraded shares of Extra Space Storage from a "neutral" rating to an "outperform" rating and set a $154.00 price target on the stock in a report on Wednesday, March 18th. Finally, Truist Financial upped their price target on shares of Extra Space Storage from $142.00 to $146.00 and gave the stock a "hold" rating in a research note on Tuesday, January 20th. Six research analysts have rated the stock with a Buy rating, nine have issued a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of "Hold" and a consensus price target of $143.80.

Extra Space Storage Trading Up 0.3%

NYSE:EXR opened at $130.35 on Friday. The stock's 50 day moving average price is $142.49 and its 200 day moving average price is $139.22. Extra Space Storage Inc has a 52 week low of $121.03 and a 52 week high of $155.19. The company has a market capitalization of $27.52 billion, a P/E ratio of 28.34, a P/E/G ratio of 2.62 and a beta of 1.24. The company has a debt-to-equity ratio of 0.92, a quick ratio of 0.39 and a current ratio of 0.39.

Extra Space Storage (NYSE:EXR - Get Free Report) last posted its earnings results on Thursday, February 19th. The real estate investment trust reported $2.08 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $2.03 by $0.05. The firm had revenue of $857.47 million during the quarter, compared to analysts' expectations of $732.92 million. Extra Space Storage had a net margin of 28.84% and a return on equity of 6.79%. The company's revenue was up 4.3% compared to the same quarter last year. During the same period in the previous year, the company earned $2.03 earnings per share. Extra Space Storage has set its FY 2026 guidance at 8.050-8.350 EPS. On average, research analysts forecast that Extra Space Storage Inc will post 8.1 EPS for the current fiscal year.

Extra Space Storage Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, March 31st. Investors of record on Monday, March 16th will be paid a $1.62 dividend. This represents a $6.48 annualized dividend and a dividend yield of 5.0%. The ex-dividend date of this dividend is Monday, March 16th. Extra Space Storage's payout ratio is presently 140.87%.

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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