Callodine Capital Management LP Raises Stake in Extra Space Storage Inc $EXR

Callodine Capital Management LP grew its holdings in Extra Space Storage Inc (NYSE:EXR) by 13.0% in the first quarter, according to its most recent disclosure with the SEC. The fund owned 56,500 shares of the real estate investment trust’s stock after buying an additional 6,500 shares during the period. Callodine Capital Management LP’s holdings in Extra Space Storage were worth $7,409,000 at the end of the most recent reporting period.

Other hedge funds have also made changes to their positions in the company. Caitong International Asset Management Co. Ltd purchased a new stake in Extra Space Storage during the 3rd quarter valued at approximately $28,000. Reflection Asset Management acquired a new position in shares of Extra Space Storage in the fourth quarter valued at approximately $26,000. Cassaday & Co Wealth Management LLC acquired a new position in shares of Extra Space Storage in the first quarter valued at approximately $30,000. DV Equities LLC purchased a new stake in shares of Extra Space Storage during the fourth quarter worth approximately $39,000. Finally, Logan Capital Management Inc. lifted its holdings in shares of Extra Space Storage by 313.7% during the third quarter. Logan Capital Management Inc. now owns 302 shares of the real estate investment trust’s stock worth $43,000 after purchasing an additional 229 shares during the period. Institutional investors and hedge funds own 99.11% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts have commented on EXR shares. UBS Group upped their price objective on shares of Extra Space Storage from $158.00 to $163.00 and gave the stock a “buy” rating in a research report on Friday, July 10th. Bank of America raised Extra Space Storage from an “underperform” rating to a “neutral” rating and increased their target price for the stock from $147.00 to $156.00 in a research note on Tuesday, June 16th. Barclays upped their price objective on Extra Space Storage from $170.00 to $172.00 and gave the stock an “overweight” rating in a report on Friday, July 10th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Extra Space Storage in a research note on Friday, July 17th. Finally, Raymond James Financial assumed coverage on shares of Extra Space Storage in a research report on Thursday, July 16th. They set an “outperform” rating and a $44.00 target price on the stock. Six analysts have rated the stock with a Buy rating and ten have assigned a Hold rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $146.53.

Insider Transactions at Extra Space Storage

In other Extra Space Storage news, EVP Gwyn Goodson Mcneal sold 3,300 shares of the stock in a transaction on Thursday, June 11th. The stock was sold at an average price of $150.00, for a total transaction of $495,000.00. Following the sale, the executive vice president owned 37,374 shares in the company, valued at approximately $5,606,100. This represents a 8.11% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 0.96% of the company’s stock.

Extra Space Storage Trading Up 1.6%

NYSE:EXR opened at $147.77 on Friday. Extra Space Storage Inc has a 52-week low of $125.71 and a 52-week high of $155.19. The company has a quick ratio of 0.37, a current ratio of 0.37 and a debt-to-equity ratio of 0.93. The stock has a fifty day simple moving average of $145.72 and a 200-day simple moving average of $142.67. The company has a market capitalization of $31.22 billion, a PE ratio of 33.13, a price-to-earnings-growth ratio of 4.57 and a beta of 1.19.

Extra Space Storage (NYSE:EXR) last posted its earnings results on Tuesday, April 28th. The real estate investment trust reported $1.14 earnings per share for the quarter, missing the consensus estimate of $2.01 by ($0.87). The business had revenue of $856.03 million for the quarter, compared to analysts’ expectations of $851.35 million. Extra Space Storage had a net margin of 27.66% and a return on equity of 6.65%. The business’s revenue was up 4.4% compared to the same quarter last year. During the same quarter last year, the business posted $2.00 earnings per share. 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 8.26 earnings per share for the current fiscal year.

Extra Space Storage Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, June 30th. Investors of record on Monday, June 15th were given a dividend of $1.62 per share. This represents a $6.48 annualized dividend and a dividend yield of 4.4%. The ex-dividend date was Monday, June 15th. Extra Space Storage’s payout ratio is currently 145.29%.

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.