Rakuten Investment Management Inc. Purchases New Position in Extra Space Storage Inc $EXR

Rakuten Investment Management Inc. purchased a new stake in shares of Extra Space Storage Inc (NYSE:EXR) in the second quarter, Holdings Channel.com reports. The institutional investor purchased 34,550 shares of the real estate investment trust’s stock, valued at approximately $5,122,000.

Other institutional investors and hedge funds have also bought and sold shares of 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 valued at $523,000 after buying an additional 75 shares during the period. Brown Advisory Inc. lifted its stake in Extra Space Storage by 1.8% in the second quarter. Brown Advisory Inc. now owns 4,431 shares of the real estate investment trust’s stock worth $653,000 after acquiring an additional 80 shares during the period. Manchester Capital Management LLC lifted its stake 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 worth $70,000 after acquiring an additional 86 shares during the period. Angeles Wealth Management LLC lifted its stake 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 worth $366,000 after acquiring 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 fourth quarter. Creative Financial Designs Inc. ADV now owns 325 shares of the real estate investment trust’s stock valued at $42,000 after acquiring an additional 92 shares in the last quarter. Hedge funds and other institutional investors own 99.11% of the company’s stock.

Insider Activity

In other news, EVP Gwyn Goodson Mcneal sold 3,300 shares of the company’s stock in a transaction that occurred on Thursday, June 11th. The shares were sold at an average price of $150.00, for a total value of $495,000.00. Following the transaction, 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 ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this link. Corporate insiders own 0.96% of the company’s stock.

Analyst Ratings Changes

Several brokerages have commented on EXR. Weiss Ratings upgraded shares of Extra Space Storage from a “hold (c)” rating to a “hold (c+)” rating in a report on Friday, August 7th. Wells Fargo & Company lifted their target price on shares of Extra Space Storage from $154.00 to $158.00 and gave the company an “overweight” rating in a research note on Friday, July 24th. Truist Financial boosted their price target on shares of Extra Space Storage from $140.00 to $148.00 and gave the company a “hold” rating in a research report on Wednesday, June 17th. BMO Capital Markets raised shares of Extra Space Storage from a “market perform” rating to an “outperform” rating and increased their price target for the stock from $160.00 to $170.00 in a research note on Thursday. Finally, Wall Street Zen raised shares of Extra Space Storage from a “sell” rating to a “hold” rating in a research note on Sunday, August 9th. Seven equities research analysts have rated the stock with a Buy rating and nine have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $149.20.

Extra Space Storage Trading Up 0.1%

Extra Space Storage stock opened at $142.93 on Friday. Extra Space Storage Inc has a 12 month low of $125.71 and a 12 month high of $158.88. The company has a market capitalization of $30.20 billion, a price-to-earnings ratio of 31.55, a price-to-earnings-growth ratio of 4.10 and a beta of 1.18. The business’s fifty day simple moving average is $147.18 and its two-hundred day simple moving average is $143.95. The company has a current ratio of 1.56, a quick ratio of 1.56 and a debt-to-equity ratio of 0.96.

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 the consensus estimate of $1.16 by $0.09. The firm had revenue of $874.15 million during the quarter, compared to analyst estimates of $874.99 million. Extra Space Storage had a return on equity of 6.70% and a net margin of 27.80%.Extra Space Storage’s quarterly revenue was up 3.9% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $2.05 EPS. Extra Space Storage has set its FY 2026 guidance at 8.250-8.400 EPS. As a group, equities analysts predict that Extra Space Storage Inc will post 8.33 earnings per share for the current fiscal year.

Extra Space Storage Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, September 30th. Shareholders of record on Tuesday, September 15th will be issued a $1.62 dividend. The ex-dividend date of this dividend is Tuesday, September 15th. This represents a $6.48 annualized dividend and a yield of 4.5%. Extra Space Storage’s payout ratio is 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.