Saudi Central Bank Purchases 6,950 Shares of Extra Space Storage Inc $EXR

Saudi Central Bank increased its position in Extra Space Storage Inc (NYSE:EXR) by 88.7% during the second quarter, HoldingsChannel reports. The institutional investor owned 14,784 shares of the real estate investment trust’s stock after acquiring an additional 6,950 shares during the period. Saudi Central Bank’s holdings in Extra Space Storage were worth $2,148,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in EXR. BlackRock Inc. acquired a new stake in Extra Space Storage in the second quarter valued at approximately $3,334,263,000. Cohen & Steers Inc. increased its stake in shares of 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 purchasing an additional 1,888,763 shares during the last quarter. State Street Corp increased its stake in shares of Extra Space Storage by 1.7% during the 3rd quarter. State Street Corp now owns 13,910,878 shares of the real estate investment trust’s stock worth $1,960,599,000 after purchasing an additional 230,697 shares during the last quarter. Norges Bank bought a new position in shares of Extra Space Storage during the 4th quarter valued at $1,219,606,000. Finally, Capital International Investors raised its holdings in shares of Extra Space Storage by 73.9% during the 4th quarter. Capital International Investors now owns 6,256,687 shares of the real estate investment trust’s stock valued at $814,746,000 after purchasing an additional 2,658,947 shares in the last quarter. Institutional investors own 99.11% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages recently issued reports on EXR. Scotiabank upped their price objective on shares of Extra Space Storage from $157.00 to $158.00 and gave the stock a “sector perform” rating in a report on Tuesday, August 18th. Barclays raised their target price on Extra Space Storage from $170.00 to $172.00 and gave the company an “overweight” rating in a report on Friday, July 10th. UBS Group boosted their price target on Extra Space Storage from $158.00 to $163.00 and gave the stock a “buy” rating in a research report on Friday, July 10th. Royal Bank Of Canada upped their price target on Extra Space Storage from $153.00 to $157.00 and gave the stock a “sector perform” rating in a research note on Thursday, July 30th. Finally, BMO Capital Markets raised Extra Space Storage from a “market perform” rating to an “outperform” rating and increased their price objective for the company from $160.00 to $170.00 in a report on Thursday, August 27th. Seven analysts have rated the stock with a Buy rating and nine have given a Hold rating to the company’s stock. Based on data from MarketBeat, Extra Space Storage has an average rating of “Hold” and an average price target of $148.93.

Extra Space Storage Price Performance

NYSE EXR opened at $139.33 on Tuesday. The company has a current ratio of 1.56, a quick ratio of 1.56 and a debt-to-equity ratio of 0.96. The company has a fifty day simple moving average of $146.30 and a 200 day simple moving average of $143.78. The company has a market cap of $29.44 billion, a P/E ratio of 30.76, a P/E/G ratio of 4.00 and a beta of 1.16. Extra Space Storage Inc has a 1 year low of $125.71 and a 1 year high of $158.88.

Extra Space Storage (NYSE:EXR) last announced its earnings results on Tuesday, July 28th. The real estate investment trust reported $1.25 EPS for the quarter, topping the consensus estimate 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 net margin of 27.80% and a return on equity of 6.70%. The business’s quarterly revenue was up 3.9% on a year-over-year basis. During the same quarter last year, the firm posted $2.05 EPS. Extra Space Storage has set its FY 2026 guidance at 8.250-8.400 EPS. On average, sell-side analysts predict that Extra Space Storage Inc will post 8.33 EPS for the current year.

Extra Space Storage Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, September 30th. Stockholders of record on Tuesday, September 15th will be given a $1.62 dividend. This represents a $6.48 annualized dividend and a dividend yield of 4.7%. The ex-dividend date of this dividend is Tuesday, September 15th. Extra Space Storage’s dividend payout ratio (DPR) is currently 143.05%.

Insider Activity at Extra Space Storage

In other news, EVP Gwyn McNeal sold 3,300 shares of Extra Space Storage stock in a transaction dated Thursday, June 11th. The stock was sold at an average price of $150.00, for a total value of $495,000.00. Following the transaction, the executive vice president directly owned 37,374 shares in the company, valued at approximately $5,606,100. The trade was a 8.11% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders own 0.96% of the company’s stock.

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.