Legal & General Group Plc Buys Shares of 2,062,947 Extra Space Storage Inc $EXR

Legal & General Group Plc purchased a new stake in Extra Space Storage Inc (NYSE:EXR) during the second quarter, Holdings Channel.com reports. The firm purchased 2,062,947 shares of the real estate investment trust’s stock, valued at approximately $299,746,000.

Several other large investors have also recently made changes to their positions in EXR. Reflection Asset Management purchased a new stake in shares of Extra Space Storage during the 4th quarter worth $26,000. Caitong International Asset Management Co. Ltd purchased a new position in Extra Space Storage in the third quarter valued at about $28,000. Cassaday & Co Wealth Management LLC purchased a new stake in shares of Extra Space Storage during the first quarter valued at about $30,000. CoreCap Advisors LLC lifted its position in shares of Extra Space Storage by 975.0% during the second quarter. CoreCap Advisors LLC now owns 258 shares of the real estate investment trust’s stock valued at $37,000 after buying an additional 234 shares during the last quarter. Finally, DV Equities LLC bought a new stake in shares of Extra Space Storage in the 4th quarter valued at about $39,000. 99.11% of the stock is owned by institutional investors.

Insider Transactions at Extra Space Storage

In related news, EVP Gwyn Goodson Mcneal sold 3,300 shares of Extra Space Storage stock in a transaction on Thursday, June 11th. The shares were sold at an average price of $150.00, for a total value of $495,000.00. Following the sale, the executive vice president owned 37,374 shares of the company’s stock, valued at approximately $5,606,100. This trade represents a 8.11% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 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. Wells Fargo & Company lifted their price objective on shares of Extra Space Storage from $154.00 to $158.00 and gave the stock an “overweight” rating in a research report on Friday, July 24th. BMO Capital Markets restated a “market perform” rating and issued a $160.00 target price on shares of Extra Space Storage in a research note on Monday. The Goldman Sachs Group reaffirmed a “neutral” rating and issued a $160.00 price target on shares of Extra Space Storage in a report on Thursday, July 30th. Scotiabank upped their price target on Extra Space Storage from $157.00 to $158.00 and gave the stock a “sector perform” rating in a research report on Tuesday, August 18th. Finally, 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 research report on Friday, July 10th. Six equities research analysts have rated the stock with a Buy rating and ten have given a Hold rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $148.53.

Extra Space Storage Trading Down 0.9%

EXR stock opened at $144.94 on Wednesday. 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 Inc has a 52-week low of $125.71 and a 52-week high of $158.88. The company’s 50-day simple moving average is $147.27 and its 200-day simple moving average is $143.90. The firm has a market cap of $30.62 billion, a P/E ratio of 32.00, a PEG ratio of 4.21 and a beta of 1.18.

Extra Space Storage (NYSE:EXR) last issued its quarterly earnings results on Tuesday, July 28th. The real estate investment trust reported $1.25 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 for the quarter, compared to the consensus estimate of $874.99 million. During the same quarter in the prior year, the business posted $2.05 earnings per share. Extra Space Storage’s revenue for the quarter 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, equities analysts forecast that Extra Space Storage Inc will post 8.32 EPS for the current fiscal year.

Extra Space Storage Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, September 30th. Stockholders of record on Tuesday, September 15th will be given a dividend of $1.62 per share. The ex-dividend date is Tuesday, September 15th. This represents a $6.48 dividend on an annualized basis and a dividend yield of 4.5%. Extra Space Storage’s dividend payout ratio (DPR) is 143.05%.

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.