PNC Financial Services Group Inc. Trims Stake in Extra Space Storage Inc $EXR

PNC Financial Services Group Inc. trimmed its holdings in shares of Extra Space Storage Inc (NYSE:EXR) by 14.5% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 129,353 shares of the real estate investment trust’s stock after selling 21,996 shares during the quarter. PNC Financial Services Group Inc.’s holdings in Extra Space Storage were worth $16,844,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Avalon Trust Co purchased a new position in Extra Space Storage during the third quarter worth about $28,000. Caitong International Asset Management Co. Ltd bought a new stake in Extra Space Storage during the third quarter worth about $28,000. Rosenberg Matthew Hamilton lifted its stake in Extra Space Storage by 442.9% during the fourth quarter. Rosenberg Matthew Hamilton now owns 266 shares of the real estate investment trust’s stock worth $35,000 after purchasing an additional 217 shares during the last quarter. Logan Capital Management Inc. lifted its stake in Extra Space Storage by 313.7% during the third quarter. Logan Capital Management Inc. now owns 302 shares of the real estate investment trust’s stock worth $43,000 after purchasing an additional 229 shares during the last quarter. Finally, Tobam lifted its stake in Extra Space Storage by 66.1% during the third quarter. Tobam now owns 319 shares of the real estate investment trust’s stock worth $45,000 after purchasing an additional 127 shares during the last quarter. 99.11% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at Extra Space Storage

In other news, CEO Joseph D. Margolis sold 7,500 shares of the business’s stock in a transaction dated Friday, March 13th. The stock was sold at an average price of $142.08, for a total value of $1,065,600.00. Following the completion of the sale, the chief executive officer owned 66,495 shares of the company’s stock, valued at approximately $9,447,609.60. The trade was a 10.14% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Company insiders own 0.96% of the company’s stock.

Extra Space Storage Trading Down 0.5%

Shares of EXR stock opened at $143.23 on Friday. Extra Space Storage Inc has a 12-month low of $125.71 and a 12-month high of $155.19. The company has a quick ratio of 0.37, a current ratio of 0.37 and a debt-to-equity ratio of 0.93. The business has a 50-day moving average price of $138.71 and a two-hundred day moving average price of $137.99. The firm has a market cap of $30.26 billion, a P/E ratio of 32.11, a price-to-earnings-growth ratio of 4.68 and a beta of 1.22.

Extra Space Storage (NYSE:EXR) last released its earnings results on Tuesday, April 28th. The real estate investment trust reported $1.14 earnings per share for the quarter, missing analysts’ consensus estimates of $2.01 by ($0.87). Extra Space Storage had a net margin of 27.66% and a return on equity of 6.65%. The company had revenue of $856.03 million during the quarter, compared to the consensus estimate of $851.35 million. During the same period last year, the firm posted $2.00 EPS. The company’s revenue was up 4.4% on a year-over-year basis. Extra Space Storage has set its FY 2026 guidance at 8.050-8.350 EPS. Equities analysts anticipate that Extra Space Storage Inc will post 8.23 EPS for the current fiscal year.

Extra Space Storage Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, June 30th. Stockholders of record on Monday, June 15th will be paid a $1.62 dividend. This represents a $6.48 dividend on an annualized basis and a dividend yield of 4.5%. The ex-dividend date of this dividend is Monday, June 15th. Extra Space Storage’s payout ratio is 145.29%.

Analyst Upgrades and Downgrades

EXR has been the subject of several research analyst reports. Truist Financial dropped their price target on Extra Space Storage from $158.00 to $150.00 and set a “hold” rating for the company in a research note on Wednesday, May 6th. UBS Group lifted their price target on Extra Space Storage from $148.00 to $158.00 and gave the stock a “buy” rating in a research note on Monday. Wall Street Zen lowered Extra Space Storage from a “hold” rating to a “sell” rating in a research note on Saturday, April 25th. Royal Bank Of Canada lifted their price target on Extra Space Storage from $142.00 to $153.00 and gave the stock a “sector perform” rating in a research note on Monday, February 23rd. Finally, Wells Fargo & Company dropped their price target on Extra Space Storage from $150.00 to $148.00 and set an “overweight” rating for the company in a research note on Thursday, April 16th. Five investment analysts have rated the stock with a Buy rating, nine have assigned a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $151.00.

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.