Swiss National Bank Has $81.67 Million Stake in Extra Space Storage Inc $EXR

Key Points

• Swiss National Bank increased its stake in Extra Space Storage by 7.1% in the first quarter, bringing its holdings to 622,827 shares valued at about $81.67 million.
• Extra Space Storage reported quarterly earnings of $1.14 per share, well below analyst expectations of $2.01, though revenue came in slightly ahead at $856.03 million.
• The company paid a quarterly dividend of $1.62 per share and currently offers an annualized yield of about 4.5%, while analysts maintain an average Hold rating with a $146.27 price target.

Swiss National Bank boosted its position in shares of Extra Space Storage Inc (NYSE:EXR - Free Report) by 7.1% during the 1st quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 622,827 shares of the real estate investment trust's stock after purchasing an additional 41,200 shares during the period. Swiss National Bank owned 0.29% of Extra Space Storage worth $81,671,000 at the end of the most recent reporting period.

Several other large investors also recently added to or reduced their stakes in the company. Pensionfund Sabic purchased a new stake in Extra Space Storage in the 4th quarter worth about $1,153,000. Nomura Asset Management Co. Ltd. grew its stake in Extra Space Storage by 2.5% during the 4th quarter. Nomura Asset Management Co. Ltd. now owns 391,044 shares of the real estate investment trust's stock valued at $50,922,000 after acquiring an additional 9,492 shares in the last quarter. Bayhunt Capital LLC purchased a new position in Extra Space Storage during the 4th quarter valued at about $14,650,000. Norges Bank acquired a new position in shares of Extra Space Storage in the 4th quarter valued at about $1,219,606,000. Finally, Harbour Investments Inc. increased its holdings in shares of Extra Space Storage by 15,978.4% in the 4th quarter. Harbour Investments Inc. now owns 8,200 shares of the real estate investment trust's stock valued at $1,068,000 after purchasing an additional 8,149 shares during the period. 99.11% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other Extra Space Storage news, EVP Gwyn Goodson Mcneal sold 3,300 shares of the business's stock in a transaction dated Thursday, June 11th. The stock was sold at an average price of $150.00, for a total value 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 $5,606,100. The trade was a 8.11% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.96% of the stock is currently owned by company insiders.

Extra Space Storage Trading Down 1.3%

NYSE:EXR opened at $145.38 on Wednesday. The stock's 50 day moving average price is $145.37 and its 200 day moving average price is $142.43. Extra Space Storage Inc has a 52 week low of $125.71 and a 52 week high of $155.19. The company has a market capitalization of $30.71 billion, a P/E ratio of 32.60, a P/E/G ratio of 4.56 and a beta of 1.19. 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 (NYSE:EXR - Get Free Report) last posted its earnings results on Tuesday, April 28th. The real estate investment trust reported $1.14 EPS for the quarter, missing the consensus estimate of $2.01 by ($0.87). The business had revenue of $856.03 million during 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%.The business's revenue was up 4.4% on a year-over-year basis. During the same period in the prior year, the firm earned $2.00 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 8.26 EPS for the current fiscal year.

Extra Space Storage Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, June 30th. Shareholders of record on Monday, June 15th were issued a dividend of $1.62 per share. This represents a $6.48 annualized dividend and a yield of 4.5%. The ex-dividend date was Monday, June 15th. Extra Space Storage's dividend payout ratio (DPR) is 145.29%.

Analysts Set New Price Targets

Several analysts recently commented on EXR shares. Truist Financial raised their price target on shares of Extra Space Storage from $140.00 to $148.00 and gave the stock a "hold" rating in a report on Wednesday, June 17th. Wall Street Zen upgraded shares of Extra Space Storage from a "sell" rating to a "hold" rating in a research note on Saturday. Mizuho increased their target price on shares of Extra Space Storage from $150.00 to $155.00 and gave the stock an "outperform" rating in a research report on Wednesday, May 27th. UBS Group lifted their target price on shares of 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, Raymond James Financial started coverage on shares of Extra Space Storage in a report on Thursday, July 16th. They set an "outperform" rating and a $44.00 price target on the stock. Six investment analysts have rated the stock with a Buy rating and ten have issued a Hold rating to the stock. According to MarketBeat.com, the stock currently has an average rating of "Hold" and an average price target of $146.27.

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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