Strs Ohio Cuts Stake in Extra Space Storage Inc $EXR

Key Points

• Strs Ohio cut its stake in Extra Space Storage by 5.3% in Q4, selling 23,391 shares and ending the quarter with 421,742 shares worth about $54.9 million (roughly 0.20% of the company).
• Extra Space Storage reported $1.14 EPS for the quarter, missing the $2.01 consensus while revenue rose 4.4% to $856.03 million; the company set FY2026 guidance of 8.05–8.35 EPS, with analysts forecasting 8.23.
• The REIT pays a $1.62 quarterly dividend (annualized $6.48) for a 4.6% yield, but the dividend payout ratio is a high 145.29%, which may raise sustainability concerns.

Strs Ohio lowered its position in Extra Space Storage Inc (NYSE:EXR - Free Report) by 5.3% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 421,742 shares of the real estate investment trust's stock after selling 23,391 shares during the quarter. Strs Ohio owned approximately 0.20% of Extra Space Storage worth $54,919,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors have also bought and sold shares of the company. Horizon Investments LLC boosted its stake in Extra Space Storage by 9.0% in the fourth quarter. Horizon Investments LLC now owns 7,159 shares of the real estate investment trust's stock worth $932,000 after buying an additional 591 shares in the last quarter. Fifth Third Bancorp boosted its stake in Extra Space Storage by 6.5% in the fourth quarter. Fifth Third Bancorp now owns 11,810 shares of the real estate investment trust's stock worth $1,538,000 after buying an additional 726 shares in the last quarter. Danske Bank A S boosted its stake in Extra Space Storage by 3.6% in the fourth quarter. Danske Bank A S now owns 104,117 shares of the real estate investment trust's stock worth $13,558,000 after buying an additional 3,600 shares in the last quarter. Oppenheimer Asset Management Inc. boosted its stake in Extra Space Storage by 10.6% in the fourth quarter. Oppenheimer Asset Management Inc. now owns 16,127 shares of the real estate investment trust's stock worth $2,100,000 after buying an additional 1,551 shares in the last quarter. Finally, New York State Teachers Retirement System boosted its stake in Extra Space Storage by 0.9% in the fourth quarter. New York State Teachers Retirement System now owns 180,032 shares of the real estate investment trust's stock worth $23,444,000 after buying an additional 1,581 shares in the last quarter. Hedge funds and other institutional investors own 99.11% of the company's stock.

Extra Space Storage Stock Performance

Shares of EXR stock opened at $142.13 on Friday. The company has a debt-to-equity ratio of 0.93, a quick ratio of 0.39 and a current ratio of 0.37. Extra Space Storage Inc has a fifty-two week low of $125.71 and a fifty-two week high of $155.19. The stock has a 50 day moving average price of $140.49 and a two-hundred day moving average price of $138.55. The company has a market capitalization of $30.02 billion, a P/E ratio of 31.87, a PEG ratio of 4.54 and a beta of 1.22.

Extra Space Storage (NYSE:EXR - Get Free Report) last announced its 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 for the quarter, compared to the consensus estimate of $851.35 million. During the same quarter in the prior year, the company earned $2.00 EPS. Extra Space Storage's revenue was up 4.4% compared to the same quarter last year. Extra Space Storage has set its FY 2026 guidance at 8.050-8.350 EPS. Analysts expect that Extra Space Storage Inc will post 8.23 earnings per share for the current year.

Extra Space Storage Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, March 31st. Shareholders of record on Monday, March 16th were issued a $1.62 dividend. The ex-dividend date 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 145.29%.

Wall Street Analysts Forecast Growth

EXR has been the subject of several recent research reports. Wells Fargo & Company lowered their price objective on 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 boosted their price objective on 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. Mizuho boosted their price objective on Extra Space Storage from $137.00 to $143.00 and gave the company an "outperform" rating in a research report on Monday, January 12th. UBS Group lowered their price objective on 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. Finally, JPMorgan Chase & Co. boosted their price objective on Extra Space Storage from $142.00 to $144.00 and gave the company a "neutral" rating in a research report on Monday, March 23rd. Six analysts have rated the stock with a Buy rating, nine have assigned a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, Extra Space Storage presently has an average rating of "Hold" and a consensus price target of $143.67.

Insider Activity at Extra Space Storage

In other news, CEO Joseph D. Margolis sold 7,500 shares of Extra Space Storage stock in a transaction dated 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 sale, the chief executive officer owned 66,495 shares of the company's stock, valued at approximately $9,447,609.60. The trade was a 10.14% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Corporate insiders own 0.96% of the company's stock.

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.

Want to see what other hedge funds are holding EXR? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Extra Space Storage Inc (NYSE:EXR - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.