Vestcor Inc Has $968,000 Position in Extra Space Storage Inc $EXR

Key Points

• Vestcor Inc. cut its stake in Extra Space Storage by 76.6% in Q3 to 6,868 shares valued at $968,000, while institutional and hedge funds now own about 99.11% of the stock.
• Extra Space Storage beat the quarter with $2.08 EPS (vs. $2.03 est.) and $857.47M revenue (vs. $732.92M est.), and issued FY2026 guidance of 8.05–8.35 EPS (analysts average ~8.1).
• The company pays a quarterly dividend of $1.62 ($6.48 annual) for a 4.6% yield but a 140.87% payout ratio, and Wall Street's consensus rating is "Hold" with an average price target of $145.13.

Vestcor Inc cut its stake in Extra Space Storage Inc (NYSE:EXR - Free Report) by 76.6% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 6,868 shares of the real estate investment trust's stock after selling 22,455 shares during the period. Vestcor Inc's holdings in Extra Space Storage were worth $968,000 at the end of the most recent quarter.

Several other large investors also recently modified their holdings of EXR. Avalon Trust Co acquired a new position in Extra Space Storage in the third quarter valued at about $28,000. Versant Capital Management Inc raised its position in shares of Extra Space Storage by 60.2% in the 3rd quarter. Versant Capital Management Inc now owns 213 shares of the real estate investment trust's stock valued at $30,000 after buying an additional 80 shares in the last quarter. Davis Capital Management bought a new stake in shares of Extra Space Storage during the 3rd quarter worth approximately $35,000. Elevation Point Wealth Partners LLC acquired a new stake in shares of Extra Space Storage during the 2nd quarter worth approximately $37,000. Finally, MTM Investment Management LLC bought a new position in Extra Space Storage in the second quarter valued at approximately $38,000. 99.11% of the stock is owned by institutional investors and hedge funds.

Extra Space Storage Stock Performance

NYSE EXR traded up $1.17 during trading hours on Friday, reaching $141.35. 128,352 shares of the company were exchanged, compared to its average volume of 1,353,957. The stock has a market capitalization of $29.84 billion, a P/E ratio of 30.63, a P/E/G ratio of 2.85 and a beta of 1.24. The company has a quick ratio of 0.39, a current ratio of 0.39 and a debt-to-equity ratio of 0.92. Extra Space Storage Inc has a 1 year low of $121.03 and a 1 year high of $155.19. The business's 50 day simple moving average is $143.22 and its 200-day simple moving average is $139.80.

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

Extra Space Storage Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, March 31st. Shareholders of record on Monday, March 16th will be issued a dividend of $1.62 per share. This represents a $6.48 annualized dividend and a yield of 4.6%. The ex-dividend date of this dividend is Monday, March 16th. Extra Space Storage's dividend payout ratio is 140.87%.

Wall Street Analyst Weigh In

EXR has been the topic of a number of research analyst reports. Royal Bank Of Canada raised their target price on Extra Space Storage from $142.00 to $153.00 and gave the company a "sector perform" rating in a report on Monday, February 23rd. Scotiabank upped their price objective on shares of Extra Space Storage from $145.00 to $156.00 and gave the stock a "sector perform" rating in a research report on Monday, March 2nd. UBS Group decreased their target price on shares of Extra Space Storage from $156.00 to $148.00 and set a "buy" rating on the stock in a research note on Thursday, January 8th. Truist Financial upped their target price on Extra Space Storage from $142.00 to $146.00 and gave the stock a "hold" rating in a report on Tuesday, January 20th. Finally, Wells Fargo & Company cut their price target on shares of Extra Space Storage from $160.00 to $150.00 and set an "overweight" rating on the stock in a report on Thursday, February 5th. Five investment analysts have rated the stock with a Buy rating, ten have assigned a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of "Hold" and an average price target of $145.13.

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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