Wealthfront Advisers LLC Buys New Holdings in Extra Space Storage Inc $EXR

Key Points

• Wealthfront Advisers initiated a position in Extra Space Storage by purchasing 73,675 shares valued at approximately $10.7 million. Institutional investors collectively own 99.11% of the REIT’s outstanding stock.
• Analysts maintain a generally cautious outlook, with six Buy ratings and ten Hold ratings; the consensus rating is Hold with a price target of $147.87. Recent targets range from $155 to $172.
• Extra Space Storage exceeded quarterly earnings expectations with EPS of $1.25 versus the $1.16 consensus, while revenue rose 3.9% year over year to $874.15 million. The company also declared a $1.62 quarterly dividend, equivalent to a 4.4% annualized yield.

Wealthfront Advisers LLC purchased a new position in shares of Extra Space Storage Inc (NYSE:EXR - Free Report) during the 2nd quarter, according to its most recent 13F filing with the SEC. The firm purchased 73,675 shares of the real estate investment trust's stock, valued at approximately $10,705,000.

A number of other large investors have also bought and sold shares of EXR. Reflection Asset Management purchased a new stake in shares of Extra Space Storage during the fourth quarter valued at approximately $26,000. Caitong International Asset Management Co. Ltd purchased a new stake in Extra Space Storage during the 3rd quarter valued at $28,000. Cassaday & Co Wealth Management LLC purchased a new stake in Extra Space Storage during the 1st quarter valued at $30,000. CoreCap Advisors LLC grew its holdings in Extra Space Storage by 975.0% in the 2nd quarter. CoreCap Advisors LLC now owns 258 shares of the real estate investment trust's stock worth $37,000 after acquiring an additional 234 shares during the last quarter. Finally, DV Equities LLC bought a new stake in Extra Space Storage in the 4th quarter worth $39,000. 99.11% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other Extra Space Storage news, EVP Gwyn Goodson Mcneal sold 3,300 shares of the firm's stock in a transaction dated Thursday, June 11th. The shares were 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 directly owned 37,374 shares in the company, valued at $5,606,100. This trade represents a 8.11% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. 0.96% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

EXR has been the topic of a number of analyst reports. Raymond James Financial initiated coverage on shares of Extra Space Storage in a research report on Thursday, July 16th. They issued an "outperform" rating and a $44.00 price objective on the stock. Mizuho raised their target price on Extra Space Storage from $150.00 to $155.00 and gave the stock an "outperform" rating in a research note on Wednesday, May 27th. Wall Street Zen upgraded Extra Space Storage from a "sell" rating to a "hold" rating in a report on Sunday, August 9th. Scotiabank boosted their price target on Extra Space Storage from $157.00 to $158.00 and gave the company a "sector perform" rating in a report on Tuesday. Finally, Barclays upped their price target on Extra Space Storage from $170.00 to $172.00 and gave the company an "overweight" rating in a research report on Friday, July 10th. Six research 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, Extra Space Storage currently has an average rating of "Hold" and a consensus price target of $147.87.

Extra Space Storage Stock Up 0.8%

Shares of Extra Space Storage stock opened at $148.07 on Thursday. The company has a current ratio of 1.56, a quick ratio of 1.56 and a debt-to-equity ratio of 0.96. The company's fifty day simple moving average is $147.43 and its two-hundred day simple moving average is $143.67. The company has a market cap of $31.28 billion, a P/E ratio of 32.69, a PEG ratio of 4.22 and a beta of 1.18. Extra Space Storage Inc has a 12-month low of $125.71 and a 12-month high of $158.88.

Extra Space Storage (NYSE:EXR - Get Free Report) last posted its earnings results on Tuesday, July 28th. The real estate investment trust reported $1.25 EPS for the quarter, topping the consensus estimate of $1.16 by $0.09. The firm had revenue of $874.15 million during the quarter, compared to analysts' expectations of $874.99 million. Extra Space Storage had a net margin of 27.80% and a return on equity of 6.70%. The company's quarterly revenue was up 3.9% compared to the same quarter last year. During the same period last year, the company posted $2.05 EPS. Extra Space Storage has set its FY 2026 guidance at 8.250-8.400 EPS. Research analysts anticipate that Extra Space Storage Inc will post 8.32 EPS for the current year.

Extra Space Storage Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, September 30th. Investors of record on Tuesday, September 15th will be paid a $1.62 dividend. This represents a $6.48 dividend on an annualized basis and a yield of 4.4%. The ex-dividend date of this dividend is Tuesday, September 15th. Extra Space Storage's dividend payout ratio is presently 143.05%.

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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