Westpac Banking Corp Makes New $7.15 Million Investment in Extra Space Storage Inc $EXR

Westpac Banking Corp bought a new position in Extra Space Storage Inc (NYSE:EXR) in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm bought 49,209 shares of the real estate investment trust’s stock, valued at approximately $7,150,000.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Apollon Wealth Management LLC increased its stake in shares of Extra Space Storage by 1.9% during the first quarter. Apollon Wealth Management LLC now owns 3,986 shares of the real estate investment trust’s stock worth $523,000 after acquiring an additional 75 shares during the period. Brown Advisory Inc. raised its holdings in Extra Space Storage by 1.8% during the second quarter. Brown Advisory Inc. now owns 4,431 shares of the real estate investment trust’s stock worth $653,000 after purchasing an additional 80 shares in the last quarter. Manchester Capital Management LLC lifted its position in Extra Space Storage by 18.9% in the fourth quarter. Manchester Capital Management LLC now owns 540 shares of the real estate investment trust’s stock valued at $70,000 after purchasing an additional 86 shares during the period. Angeles Wealth Management LLC lifted its position in Extra Space Storage by 3.2% in the first quarter. Angeles Wealth Management LLC now owns 2,794 shares of the real estate investment trust’s stock valued at $366,000 after purchasing an additional 87 shares during the period. Finally, Creative Financial Designs Inc. ADV boosted its holdings in Extra Space Storage by 39.5% in the 4th quarter. Creative Financial Designs Inc. ADV now owns 325 shares of the real estate investment trust’s stock valued at $42,000 after purchasing an additional 92 shares in the last quarter. Hedge funds and other institutional investors own 99.11% of the company’s stock.

Wall Street Analysts Forecast Growth

EXR has been the topic of several recent analyst reports. Bank of America upgraded Extra Space Storage from an “underperform” rating to a “neutral” rating and boosted their target price for the stock from $147.00 to $156.00 in a research report on Tuesday, June 16th. Barclays raised their price target on Extra Space Storage from $170.00 to $172.00 and gave the company an “overweight” rating in a report on Friday, July 10th. Scotiabank lifted their price target on Extra Space Storage from $157.00 to $158.00 and gave the company a “sector perform” rating in a research note on Tuesday. Weiss Ratings raised Extra Space Storage from a “hold (c)” rating to a “hold (c+)” rating in a report on Friday, August 7th. Finally, UBS Group increased their price objective on Extra Space Storage from $158.00 to $163.00 and gave the stock a “buy” rating in a research report on Friday, July 10th. Six analysts have rated the stock with a Buy rating and nine have assigned a Hold rating to the stock. According to MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $147.71.

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 transaction of $495,000.00. Following the completion of the transaction, the executive vice president directly owned 37,374 shares in the company, valued at approximately $5,606,100. This trade represents a 8.11% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Insiders own 0.96% of the company’s stock.

Extra Space Storage Stock Down 0.2%

EXR opened at $146.97 on Friday. The business’s fifty day moving average is $147.31 and its two-hundred day moving average is $143.76. The company has a debt-to-equity ratio of 0.96, a quick ratio of 1.56 and a current ratio of 1.56. The company has a market cap of $31.05 billion, a price-to-earnings ratio of 32.44, a PEG ratio of 4.23 and a beta of 1.18. Extra Space Storage Inc has a one year low of $125.71 and a one year high of $158.88.

Extra Space Storage (NYSE:EXR) last posted its earnings results on Tuesday, July 28th. The real estate investment trust reported $1.25 earnings per share for the quarter, beating the consensus estimate of $1.16 by $0.09. Extra Space Storage had a return on equity of 6.70% and a net margin of 27.80%.The company had revenue of $874.15 million for the quarter, compared to analyst estimates of $874.99 million. During the same quarter in the prior year, the company earned $2.05 earnings per share. Extra Space Storage’s revenue was up 3.9% compared to the same quarter last year. Extra Space Storage has set its FY 2026 guidance at 8.250-8.400 EPS. Analysts anticipate that Extra Space Storage Inc will post 8.32 EPS for the current fiscal year.

Extra Space Storage Dividend Announcement

The firm also recently disclosed 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 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.