Extra Space Storage Inc $EXR Holdings Lowered by Bank of New York Mellon Corp

Bank of New York Mellon Corp reduced its stake in Extra Space Storage Inc (NYSE:EXR) by 18.5% in the first quarter, HoldingsChannel reports. The fund owned 1,243,354 shares of the real estate investment trust’s stock after selling 282,128 shares during the quarter. Bank of New York Mellon Corp’s holdings in Extra Space Storage were worth $163,041,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also made changes to their positions in the company. Reflection Asset Management acquired a new position in shares of Extra Space Storage during the fourth quarter valued at approximately $26,000. Caitong International Asset Management Co. Ltd bought a new stake in Extra Space Storage during the third quarter worth approximately $28,000. DV Equities LLC acquired a new stake in Extra Space Storage in the fourth quarter worth approximately $39,000. Zions Bancorporation National Association UT lifted its position in Extra Space Storage by 172.3% in the fourth quarter. Zions Bancorporation National Association UT now owns 305 shares of the real estate investment trust’s stock worth $40,000 after purchasing an additional 193 shares during the period. Finally, Creative Financial Designs Inc. ADV boosted its stake in Extra Space Storage by 39.5% during 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. 99.11% of the stock is currently owned by institutional investors.

Extra Space Storage Trading Down 1.3%

Shares of NYSE:EXR opened at $148.38 on Friday. The stock has a market capitalization of $31.35 billion, a price-to-earnings ratio of 33.27, a PEG ratio of 4.59 and a beta of 1.19. Extra Space Storage Inc has a 1-year low of $125.71 and a 1-year high of $155.19. The company has a debt-to-equity ratio of 0.93, a quick ratio of 0.37 and a current ratio of 0.37. The company has a 50 day moving average price of $145.31 and a 200 day moving average price of $142.13.

Extra Space Storage (NYSE:EXR) last posted its quarterly earnings results on Tuesday, April 28th. The real estate investment trust reported $1.14 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.01 by ($0.87). The company had revenue of $856.03 million during the quarter, compared to the consensus estimate of $851.35 million. Extra Space Storage had a net margin of 27.66% and a return on equity of 6.65%. Extra Space Storage’s quarterly revenue was up 4.4% on a year-over-year basis. During the same period in the prior year, the company posted $2.00 EPS. Extra Space Storage has set its FY 2026 guidance at 8.050-8.350 EPS. On average, research analysts anticipate that Extra Space Storage Inc will post 8.26 EPS for the current fiscal year.

Extra Space Storage Announces Dividend

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

Analyst Upgrades and Downgrades

Several brokerages have recently issued reports on EXR. Bank of America upgraded Extra Space Storage from an “underperform” rating to a “neutral” rating and lifted their price target for the company from $147.00 to $156.00 in a research report on Tuesday, June 16th. Barclays upped their price objective on Extra Space Storage from $170.00 to $172.00 and gave the company an “overweight” rating in a report on Friday, July 10th. Truist Financial raised their target price on Extra Space Storage from $140.00 to $148.00 and gave the company a “hold” rating in a research note on Wednesday, June 17th. Wall Street Zen raised Extra Space Storage from a “sell” rating to a “hold” rating in a report on Saturday. Finally, JPMorgan Chase & Co. boosted their price target on shares of Extra Space Storage from $142.00 to $144.00 and gave the stock a “neutral” rating in a research report on Monday, March 23rd. Six research analysts have rated the stock with a Buy rating and ten have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, Extra Space Storage has an average rating of “Hold” and an average target price of $146.27.

Insider Activity

In other news, EVP Gwyn Goodson Mcneal sold 3,300 shares of the business’s 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 directly owned 37,374 shares of the company’s stock, valued at $5,606,100. The trade was a 8.11% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 0.96% of the stock is owned by company insiders.

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.