Extra Space Storage Inc $EXR Shares Acquired by Saudi Central Bank

Saudi Central Bank increased its position in shares of Extra Space Storage Inc (NYSE:EXR) by 88.7% during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 14,784 shares of the real estate investment trust’s stock after acquiring an additional 6,950 shares during the period. Saudi Central Bank’s holdings in Extra Space Storage were worth $2,148,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently modified their holdings of the stock. BlackRock Inc. acquired a new position in shares of Extra Space Storage in the 2nd quarter valued at $3,334,263,000. Cohen & Steers Inc. raised its holdings in Extra Space Storage by 13.4% during the 4th quarter. Cohen & Steers Inc. now owns 15,979,424 shares of the real estate investment trust’s stock worth $2,080,971,000 after buying an additional 1,888,763 shares during the period. State Street Corp lifted its stake in Extra Space Storage by 1.7% during the third quarter. State Street Corp now owns 13,910,878 shares of the real estate investment trust’s stock valued at $1,960,599,000 after buying an additional 230,697 shares in the last quarter. Norges Bank purchased a new stake in Extra Space Storage during the fourth quarter valued at about $1,219,606,000. Finally, Capital International Investors boosted its holdings in shares of Extra Space Storage by 73.9% in the fourth quarter. Capital International Investors now owns 6,256,687 shares of the real estate investment trust’s stock worth $814,746,000 after buying an additional 2,658,947 shares during the period. 99.11% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several research analysts have recently weighed in on the stock. Royal Bank Of Canada lifted their target price on shares of Extra Space Storage from $153.00 to $157.00 and gave the stock a “sector perform” rating in a research report on Thursday, July 30th. Wells Fargo & Company reduced their price target on shares of Extra Space Storage from $158.00 to $157.00 and set an “overweight” rating for the company in a research report on Tuesday, September 1st. Bank of America raised shares of Extra Space Storage from an “underperform” rating to a “neutral” rating and raised their price objective for the stock from $147.00 to $156.00 in a research note on Tuesday, June 16th. Weiss Ratings upgraded shares of Extra Space Storage from a “hold (c)” rating to a “hold (c+)” rating in a research report on Friday, August 7th. Finally, Mizuho cut their target price on shares of Extra Space Storage from $155.00 to $152.00 and set an “outperform” rating on the stock in a research note on Wednesday, September 2nd. Seven analysts have rated the stock with a Buy rating and nine have issued a Hold rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $148.93.

Insider Activity

In other news, EVP Gwyn McNeal sold 3,300 shares of the business’s stock in a transaction on Thursday, June 11th. The shares were sold at an average price of $150.00, for a total transaction of $495,000.00. Following the transaction, the executive vice president directly owned 37,374 shares in the company, valued at $5,606,100. The trade was a 8.11% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. 0.96% of the stock is owned by company insiders.

Extra Space Storage Trading Up 0.1%

NYSE:EXR opened at $139.33 on Tuesday. The company has a debt-to-equity ratio of 0.96, a current ratio of 1.56 and a quick ratio of 1.56. Extra Space Storage Inc has a fifty-two week low of $125.71 and a fifty-two week high of $158.88. The stock’s 50-day moving average is $146.30 and its two-hundred day moving average is $143.78. The stock has a market cap of $29.44 billion, a PE ratio of 30.76, a price-to-earnings-growth ratio of 4.00 and a beta of 1.16.

Extra Space Storage (NYSE:EXR) last posted its quarterly earnings results on Tuesday, July 28th. The real estate investment trust reported $1.25 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.16 by $0.09. The business had revenue of $874.15 million during the quarter, compared to analyst estimates of $874.99 million. Extra Space Storage had a net margin of 27.80% and a return on equity of 6.70%. The firm’s revenue was up 3.9% compared to the same quarter last year. During the same period in the prior year, the firm earned $2.05 earnings per share. Extra Space Storage has set its FY 2026 guidance at 8.250-8.400 EPS. As a group, equities research analysts forecast that Extra Space Storage Inc will post 8.33 earnings per share for the current fiscal year.

Extra Space Storage Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, September 30th. Shareholders of record on Tuesday, September 15th will be given a $1.62 dividend. The ex-dividend date is Tuesday, September 15th. This represents a $6.48 dividend on an annualized basis and a yield of 4.7%. Extra Space Storage’s dividend payout ratio is presently 143.05%.

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.