Westpac Banking Corp Boosts Stock Position in Extra Space Storage Inc $EXR

Westpac Banking Corp grew its holdings in Extra Space Storage Inc (NYSE:EXR) by 8.6% in the fourth quarter, Holdings Channel reports. The institutional investor owned 48,986 shares of the real estate investment trust’s stock after acquiring an additional 3,882 shares during the quarter. Westpac Banking Corp’s holdings in Extra Space Storage were worth $6,379,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently made changes to their positions in the company. New Mexico Educational Retirement Board boosted its stake in shares of Extra Space Storage by 3.1% in the fourth quarter. New Mexico Educational Retirement Board now owns 9,900 shares of the real estate investment trust’s stock worth $1,289,000 after acquiring an additional 300 shares during the last quarter. Peapack Gladstone Financial Corp boosted its stake in shares of Extra Space Storage by 1.9% in the fourth quarter. Peapack Gladstone Financial Corp now owns 23,342 shares of the real estate investment trust’s stock worth $3,039,000 after acquiring an additional 442 shares during the last quarter. Nomura Asset Management Co. Ltd. boosted its stake in shares of Extra Space Storage by 2.5% in the fourth quarter. Nomura Asset Management Co. Ltd. now owns 391,044 shares of the real estate investment trust’s stock worth $50,922,000 after acquiring an additional 9,492 shares during the last quarter. MUFG Securities EMEA plc boosted its stake in shares of Extra Space Storage by 114.4% in the fourth quarter. MUFG Securities EMEA plc now owns 8,711 shares of the real estate investment trust’s stock worth $1,134,000 after acquiring an additional 4,648 shares during the last quarter. Finally, BNP Paribas Financial Markets boosted its stake in shares of Extra Space Storage by 18.5% in the fourth quarter. BNP Paribas Financial Markets now owns 437,042 shares of the real estate investment trust’s stock worth $56,912,000 after acquiring an additional 68,254 shares during the last quarter. 99.11% of the stock is owned by institutional investors and hedge funds.

Extra Space Storage Stock Performance

NYSE EXR opened at $142.18 on Wednesday. The stock’s fifty day moving average is $139.34 and its two-hundred day moving average is $138.53. The firm has a market capitalization of $30.04 billion, a P/E ratio of 31.88, a price-to-earnings-growth ratio of 4.56 and a beta of 1.20. The company has a debt-to-equity ratio of 0.93, a quick ratio of 0.37 and a current ratio of 0.37. Extra Space Storage Inc has a fifty-two week low of $125.71 and a fifty-two week high of $155.19.

Extra Space Storage (NYSE:EXR) last released its quarterly earnings data 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 return on equity of 6.65% and a net margin of 27.66%.The company had revenue of $856.03 million for the quarter, compared to analyst estimates of $851.35 million. During the same period last year, the firm posted $2.00 EPS. The business’s quarterly 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. On average, research analysts anticipate that Extra Space Storage Inc will post 8.23 earnings per share for the current year.

Extra Space Storage Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 30th. Investors of record on Monday, June 15th will be issued a $1.62 dividend. This represents a $6.48 annualized dividend and a dividend yield of 4.6%. The ex-dividend date is Monday, June 15th. Extra Space Storage’s payout ratio is currently 145.29%.

Insider Activity

In related news, CEO Joseph D. Margolis sold 7,500 shares of the business’s stock in a transaction on 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 sale, the chief executive officer owned 66,495 shares in the company, valued at approximately $9,447,609.60. The trade was a 10.14% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 0.96% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on EXR. Scotiabank lifted their price target on Extra Space Storage from $145.00 to $156.00 and gave the stock a “sector perform” rating in a research note on Monday, March 2nd. Wells Fargo & Company lifted their price target on Extra Space Storage from $148.00 to $154.00 and gave the stock an “overweight” rating in a research note on Monday. Truist Financial lowered their price target on Extra Space Storage from $158.00 to $150.00 and set a “hold” rating on the stock in a research note on Wednesday, May 6th. Bank of America lowered Extra Space Storage from a “neutral” rating to an “underperform” rating and set a $143.00 price target on the stock. in a research note on Thursday, February 5th. Finally, Mizuho lifted their price target on Extra Space Storage from $150.00 to $155.00 and gave the stock an “outperform” rating in a research note on Wednesday, May 27th. Five equities research analysts have rated the stock with a Buy rating, nine have assigned a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $152.29.

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.