OVERSEA CHINESE BANKING Corp Ltd Makes New $6.04 Million Investment in Extra Space Storage Inc $EXR

OVERSEA CHINESE BANKING Corp Ltd purchased a new stake in shares of Extra Space Storage Inc (NYSE:EXR) during the second quarter, Holdings Channel.com reports. The firm purchased 41,582 shares of the real estate investment trust’s stock, valued at approximately $6,042,000.

A number of other hedge funds and other institutional investors have also made changes to their positions in the stock. BlackRock Inc. acquired a new stake in shares of Extra Space Storage during the second quarter worth $3,334,263,000. Norges Bank purchased a new position in Extra Space Storage in the 4th quarter worth $1,219,606,000. Capital International Investors raised its stake in Extra Space Storage by 73.9% in the 4th quarter. Capital International Investors now owns 6,256,687 shares of the real estate investment trust’s stock worth $814,746,000 after acquiring an additional 2,658,947 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its position in Extra Space Storage by 900.0% during the 3rd quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 2,187,795 shares of the real estate investment trust’s stock worth $308,348,000 after acquiring an additional 1,969,013 shares during the period. Finally, Cohen & Steers Inc. lifted its position in Extra Space Storage by 13.4% during the 4th quarter. Cohen & Steers Inc. now owns 15,979,424 shares of the real estate investment trust’s stock worth $2,080,971,000 after acquiring an additional 1,888,763 shares during the period. Hedge funds and other institutional investors own 99.11% of the company’s stock.

Insider Activity

In related news, EVP Gwyn Goodson Mcneal sold 3,300 shares of the stock in a transaction 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 sale, the executive vice president directly owned 37,374 shares of the company’s stock, 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 available at this hyperlink. 0.96% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

EXR has been the subject of several research analyst reports. Wall Street Zen upgraded Extra Space Storage from a “sell” rating to a “hold” rating in a research note on Sunday, August 9th. Scotiabank raised their price target on shares of Extra Space Storage from $157.00 to $158.00 and gave the stock a “sector perform” rating in a research report on Tuesday. Truist Financial upped their price objective on shares of Extra Space Storage from $140.00 to $148.00 and gave the company a “hold” rating in a report on Wednesday, June 17th. Bank of America upgraded shares of Extra Space Storage from an “underperform” rating to a “neutral” rating and increased their price objective for the stock from $147.00 to $156.00 in a research note on Tuesday, June 16th. Finally, Barclays raised their target price on shares of Extra Space Storage from $170.00 to $172.00 and gave the stock an “overweight” rating in a report on Friday, July 10th. Six research analysts have rated the stock with a Buy rating and ten have given a Hold rating to the company. Based on data from MarketBeat, the stock has an average rating of “Hold” and an average target price of $147.87.

Extra Space Storage Stock Down 0.3%

Extra Space Storage stock opened at $147.53 on Friday. The firm has a market cap of $31.17 billion, a price-to-earnings ratio of 32.57, a price-to-earnings-growth ratio of 4.25 and a beta of 1.18. Extra Space Storage Inc has a 52 week low of $125.71 and a 52 week high of $158.88. The business’s 50-day moving average price is $147.37 and its 200 day moving average price is $143.74. The company has a quick ratio of 1.56, a current ratio of 1.56 and a debt-to-equity ratio of 0.96.

Extra Space Storage (NYSE:EXR) last announced its quarterly earnings results on Tuesday, July 28th. The real estate investment trust reported $1.25 earnings per share for the quarter, beating the consensus estimate of $1.16 by $0.09. Extra Space Storage had a return on equity of 6.70% and a net margin of 27.80%.The company had revenue of $874.15 million during the quarter, compared to analysts’ expectations of $874.99 million. During the same period last year, the business earned $2.05 earnings per share. Extra Space Storage’s quarterly revenue was up 3.9% on a year-over-year basis. Extra Space Storage has set its FY 2026 guidance at 8.250-8.400 EPS. As a group, sell-side analysts anticipate that Extra Space Storage Inc will post 8.32 earnings per share for the current year.

Extra Space Storage Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, September 30th. Investors of record on Tuesday, September 15th will be paid a $1.62 dividend. This represents a $6.48 annualized dividend and a dividend yield of 4.4%. The ex-dividend date is Tuesday, September 15th. Extra Space Storage’s payout ratio is currently 143.05%.

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.