Edgestream Partners L.P. Buys 6,940 Shares of Extra Space Storage Inc $EXR

Edgestream Partners L.P. raised its stake in Extra Space Storage Inc (NYSE:EXR) by 27.3% during the first quarter, HoldingsChannel reports. The fund owned 32,371 shares of the real estate investment trust’s stock after buying an additional 6,940 shares during the period. Edgestream Partners L.P.’s holdings in Extra Space Storage were worth $4,245,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Caitong International Asset Management Co. Ltd purchased a new position in shares of Extra Space Storage in the 3rd quarter worth about $28,000. Reflection Asset Management bought a new position in Extra Space Storage in the 4th quarter worth about $26,000. Cassaday & Co Wealth Management LLC purchased a new stake in Extra Space Storage during the 1st quarter valued at about $30,000. DV Equities LLC purchased a new stake in Extra Space Storage during the 4th quarter valued at about $39,000. Finally, Logan Capital Management Inc. increased its stake in Extra Space Storage by 313.7% during the 3rd quarter. Logan Capital Management Inc. now owns 302 shares of the real estate investment trust’s stock valued at $43,000 after purchasing an additional 229 shares in the last quarter. 99.11% of the stock is currently owned by institutional investors.

Extra Space Storage Stock Up 0.2%

EXR stock opened at $148.49 on Friday. Extra Space Storage Inc has a fifty-two week low of $125.71 and a fifty-two week high of $158.88. The business’s 50-day moving average is $146.52 and its two-hundred day moving average is $143.18. The company has a debt-to-equity ratio of 0.96, a quick ratio of 0.37 and a current ratio of 1.56. The company has a market cap of $31.37 billion, a price-to-earnings ratio of 32.78, a P/E/G ratio of 4.57 and a beta of 1.19.

Extra Space Storage (NYSE:EXR) last announced its 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 business had revenue of $874.15 million for the quarter, compared to analysts’ expectations of $874.99 million. Extra Space Storage had a return on equity of 6.70% and a net margin of 27.80%.The business’s revenue for the quarter was up 3.9% on a year-over-year basis. During the same period last year, the firm posted $2.05 earnings per share. Extra Space Storage has set its FY 2026 guidance at 8.250-8.400 EPS. As a group, analysts forecast that Extra Space Storage Inc will post 8.29 earnings per share for the current year.

Extra Space Storage Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, June 30th. Stockholders of record on Monday, June 15th were paid a $1.62 dividend. 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 dividend payout ratio is 143.05%.

Insider Activity

In related news, EVP Gwyn Goodson Mcneal sold 3,300 shares of the business’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 transaction of $495,000.00. Following the completion of the sale, the executive vice president directly owned 37,374 shares in the company, valued at approximately $5,606,100. The trade was a 8.11% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Insiders own 0.96% of the company’s stock.

Analysts Set New Price Targets

EXR has been the subject of several recent analyst reports. Raymond James Financial assumed coverage on shares of Extra Space Storage in a report on Thursday, July 16th. They issued an “outperform” rating and a $44.00 target price for the company. Truist Financial upped their target price on shares of Extra Space Storage from $140.00 to $148.00 and gave the stock a “hold” rating in a research note on Wednesday, June 17th. Mizuho increased their price target on shares of Extra Space Storage from $150.00 to $155.00 and gave the company an “outperform” rating in a report on Wednesday, May 27th. The Goldman Sachs Group reissued a “neutral” rating and set a $160.00 price target on shares of Extra Space Storage in a research report on Thursday. Finally, UBS Group upped their price objective on Extra Space Storage from $158.00 to $163.00 and gave the company a “buy” rating in a research report on Friday, July 10th. Six investment analysts have rated the stock with a Buy rating and ten have given a Hold rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $147.73.

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.