Extra Space Storage Inc $EXR Stock Position Lowered by Royal Bank of Canada

Royal Bank of Canada decreased its position in Extra Space Storage Inc (NYSE:EXR) by 7.6% in the first quarter, HoldingsChannel reports. The firm owned 205,751 shares of the real estate investment trust’s stock after selling 17,007 shares during the period. Royal Bank of Canada’s holdings in Extra Space Storage were worth $26,980,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Reflection Asset Management acquired a new stake in Extra Space Storage during the 4th quarter valued at $26,000. Caitong International Asset Management Co. Ltd acquired a new stake in shares of Extra Space Storage in the third quarter worth $28,000. Cassaday & Co Wealth Management LLC purchased a new position in shares of Extra Space Storage during the first quarter valued at $30,000. DV Equities LLC purchased a new position in shares of Extra Space Storage during the fourth quarter valued at $39,000. Finally, Zions Bancorporation National Association UT grew its holdings in shares of Extra Space Storage by 172.3% during the fourth quarter. Zions Bancorporation National Association UT now owns 305 shares of the real estate investment trust’s stock valued at $40,000 after buying an additional 193 shares in the last quarter. 99.11% of the stock is currently owned by hedge funds and other institutional investors.

Extra Space Storage Stock Up 0.1%

Shares of Extra Space Storage stock opened at $149.84 on Wednesday. The firm has a market cap of $31.66 billion, a price-to-earnings ratio of 33.08, a P/E/G ratio of 4.61 and a beta of 1.18. The company has a debt-to-equity ratio of 0.96, a current ratio of 1.56 and a quick ratio of 0.37. Extra Space Storage Inc has a 52-week low of $125.71 and a 52-week high of $158.88. The stock has a 50-day simple moving average of $146.77 and a 200-day simple moving average of $143.30.

Extra Space Storage (NYSE:EXR) last released its quarterly earnings data on Tuesday, July 28th. The real estate investment trust reported $1.25 EPS for the quarter, topping analysts’ consensus estimates of $1.16 by $0.09. The firm had revenue of $874.15 million for the quarter, compared to the consensus estimate of $874.99 million. Extra Space Storage had a return on equity of 6.70% and a net margin of 27.80%.The firm’s revenue was up 3.9% on a year-over-year basis. During the same quarter in the prior year, the company posted $2.05 earnings per share. Extra Space Storage has set its FY 2026 guidance at 8.250-8.400 EPS. On average, equities research analysts expect that Extra Space Storage Inc will post 8.31 earnings per share for the current fiscal year.

Extra Space Storage Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, June 30th. Stockholders of record on Monday, June 15th were paid a dividend of $1.62 per share. The ex-dividend date was Monday, June 15th. This represents a $6.48 annualized dividend and a dividend yield of 4.3%. Extra Space Storage’s dividend payout ratio is 143.05%.

Analyst Upgrades and Downgrades

EXR has been the subject of several research analyst reports. Mizuho increased their price objective 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. UBS Group upped their target price on Extra Space Storage from $158.00 to $163.00 and gave the company a “buy” rating in a report on Friday, July 10th. Bank of America raised shares of Extra Space Storage from an “underperform” rating to a “neutral” rating and increased their price target for the stock from $147.00 to $156.00 in a research report on Tuesday, June 16th. Raymond James Financial started coverage on shares of Extra Space Storage in a report on Thursday, July 16th. They set an “outperform” rating and a $44.00 price target for the company. Finally, The Goldman Sachs Group reaffirmed a “neutral” rating and set a $160.00 price objective on shares of Extra Space Storage in a research report on Thursday, July 30th. Six analysts have rated the stock with a Buy rating and ten have given a Hold rating to the company. According to MarketBeat.com, Extra Space Storage presently has a consensus rating of “Hold” and an average price target of $147.73.

Insider Activity at Extra Space Storage

In other news, EVP Gwyn Goodson Mcneal sold 3,300 shares of the firm’s 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 transaction, the executive vice president owned 37,374 shares in the company, valued at approximately $5,606,100. This trade represents a 8.11% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 0.96% of the stock is currently owned by company insiders.

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.