Geode Capital Management LLC Has $771.40 Million Stock Position in Extra Space Storage Inc $EXR

Geode Capital Management LLC grew its position in shares of Extra Space Storage Inc (NYSE:EXR) by 1.0% in the fourth quarter, HoldingsChannel reports. The fund owned 5,945,315 shares of the real estate investment trust’s stock after acquiring an additional 56,118 shares during the period. Geode Capital Management LLC’s holdings in Extra Space Storage were worth $771,397,000 as of its most recent SEC filing.

Other large investors have also recently bought and sold shares of the company. Cibc World Market Inc. boosted its holdings in shares of Extra Space Storage by 19.4% in the 3rd quarter. Cibc World Market Inc. now owns 190,863 shares of the real estate investment trust’s stock valued at $26,900,000 after buying an additional 30,983 shares during the last quarter. Principal Financial Group Inc. boosted its holdings in shares of Extra Space Storage by 6.4% in the 3rd quarter. Principal Financial Group Inc. now owns 6,715,901 shares of the real estate investment trust’s stock valued at $946,540,000 after buying an additional 406,146 shares during the last quarter. Thrivent Financial for Lutherans boosted its holdings in shares of Extra Space Storage by 38.2% in the 3rd quarter. Thrivent Financial for Lutherans now owns 589,271 shares of the real estate investment trust’s stock valued at $83,052,000 after buying an additional 162,773 shares during the last quarter. Metis Global Partners LLC boosted its holdings in shares of Extra Space Storage by 28.4% in the 3rd quarter. Metis Global Partners LLC now owns 54,950 shares of the real estate investment trust’s stock valued at $7,745,000 after buying an additional 12,145 shares during the last quarter. Finally, Centersquare Investment Management LLC boosted its holdings in shares of Extra Space Storage by 8.4% in the 3rd quarter. Centersquare Investment Management LLC now owns 2,920,697 shares of the real estate investment trust’s stock valued at $411,643,000 after buying an additional 227,289 shares during the last quarter. Institutional investors and hedge funds own 99.11% of the company’s stock.

Insider Transactions at Extra Space Storage

In other Extra Space Storage news, CEO Joseph D. Margolis sold 7,500 shares of the firm’s stock in a transaction on Friday, March 13th. The stock was sold at an average price of $142.08, for a total transaction 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 $9,447,609.60. This trade represents a 10.14% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. 0.96% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

Several equities research analysts have recently commented on the company. BNP Paribas Exane raised Extra Space Storage from a “neutral” rating to an “outperform” rating and set a $154.00 price objective for the company in a report on Wednesday, March 18th. Weiss Ratings reissued a “hold (c)” rating on shares of Extra Space Storage in a report on Tuesday, April 21st. Truist Financial cut their price objective on Extra Space Storage from $158.00 to $150.00 and set a “hold” rating for the company in a report on Wednesday, May 6th. Bank of America downgraded Extra Space Storage from a “neutral” rating to an “underperform” rating and set a $143.00 price objective for the company. in a report on Thursday, February 5th. Finally, Wall Street Zen raised Extra Space Storage from a “sell” rating to a “hold” rating in a report on Saturday. Five research analysts have rated the stock with a Buy rating, nine have issued a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, Extra Space Storage has an average rating of “Hold” and a consensus target price of $151.86.

Extra Space Storage Trading Down 0.9%

Shares of Extra Space Storage stock opened at $144.50 on Friday. The business has a fifty day simple moving average of $139.25 and a two-hundred day simple moving average of $138.43. Extra Space Storage Inc has a 1 year low of $125.71 and a 1 year high of $155.19. The company has a market capitalization of $30.53 billion, a price-to-earnings ratio of 32.40, a P/E/G ratio of 4.69 and a beta of 1.22. The company has a debt-to-equity ratio of 0.93, a current ratio of 0.37 and a quick ratio of 0.37.

Extra Space Storage (NYSE:EXR) last announced its quarterly earnings results on Tuesday, April 28th. The real estate investment trust reported $1.14 earnings per share (EPS) for the quarter, missing the consensus estimate 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 business had revenue of $856.03 million for the quarter, compared to analyst estimates of $851.35 million. During the same period in the prior year, the business earned $2.00 EPS. The company’s revenue for the quarter was up 4.4% compared to the same quarter last year. Extra Space Storage has set its FY 2026 guidance at 8.050-8.350 EPS. Research analysts forecast that Extra Space Storage Inc will post 8.23 EPS for the current year.

Extra Space Storage Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, June 30th. Shareholders of record on Monday, June 15th will be issued a dividend of $1.62 per share. The ex-dividend date of this dividend is Monday, June 15th. This represents a $6.48 annualized dividend and a yield of 4.5%. Extra Space Storage’s dividend payout ratio (DPR) is currently 145.29%.

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.