Lazard Asset Management LLC Takes $3.16 Million Position in Extra Space Storage Inc $EXR

Lazard Asset Management LLC bought a new position in shares of Extra Space Storage Inc (NYSE:EXR) during the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The firm bought 24,098 shares of the real estate investment trust’s stock, valued at approximately $3,160,000.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Gateway Wealth Partners LLC purchased a new position in Extra Space Storage in the first quarter valued at approximately $243,000. OMERS ADMINISTRATION Corp lifted its position in shares of Extra Space Storage by 28.7% during the 1st quarter. OMERS ADMINISTRATION Corp now owns 9,775 shares of the real estate investment trust’s stock worth $1,282,000 after buying an additional 2,182 shares during the last quarter. Callodine Capital Management LP boosted its holdings in shares of Extra Space Storage by 13.0% in the 1st quarter. Callodine Capital Management LP now owns 56,500 shares of the real estate investment trust’s stock valued at $7,409,000 after buying an additional 6,500 shares in the last quarter. Waverly Advisors LLC acquired a new position in shares of Extra Space Storage in the 1st quarter valued at $271,000. Finally, Healthcare of Ontario Pension Plan Trust Fund grew its position in shares of Extra Space Storage by 5.2% in the 1st quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 100,335 shares of the real estate investment trust’s stock valued at $13,157,000 after buying an additional 4,945 shares during the last quarter. 99.11% of the stock is owned by institutional investors and hedge funds.

Extra Space Storage Stock Performance

Shares of Extra Space Storage stock opened at $148.49 on Friday. The firm’s fifty day simple moving average is $146.52 and its 200-day simple moving average is $143.18. The stock has a market capitalization of $31.37 billion, a price-to-earnings ratio of 32.78, a PEG ratio of 4.56 and a beta of 1.19. Extra Space Storage Inc has a 12 month low of $125.71 and a 12 month high of $158.88. 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 (NYSE:EXR) last released its quarterly earnings results on Tuesday, July 28th. The real estate investment trust reported $1.25 EPS for the quarter, beating the consensus estimate of $1.16 by $0.09. The firm had revenue of $874.15 million during 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%. Extra Space Storage’s revenue for the quarter was up 3.9% on a year-over-year basis. During the same quarter in the prior year, the firm earned $2.05 EPS. 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 8.29 earnings per share for the current year.

Extra Space Storage Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, June 30th. Stockholders of record on Monday, June 15th were issued a $1.62 dividend. This represents a $6.48 dividend on an annualized basis and a dividend yield of 4.4%. The ex-dividend date of this dividend was Monday, June 15th. Extra Space Storage’s dividend payout ratio is presently 143.05%.

Analyst Upgrades and Downgrades

Several equities research analysts recently commented on the stock. UBS Group lifted their price target on shares of Extra Space Storage from $158.00 to $163.00 and gave the stock a “buy” rating in a research note on Friday, July 10th. Wall Street Zen lowered Extra Space Storage from a “hold” rating to a “sell” rating in a report on Saturday. Truist Financial raised their price objective on Extra Space Storage from $140.00 to $148.00 and gave the stock a “hold” rating in a report on Wednesday, June 17th. Raymond James Financial started coverage on Extra Space Storage in a research report on Thursday, July 16th. They set an “outperform” rating and a $44.00 target price on the stock. Finally, Wells Fargo & Company boosted their target price on Extra Space Storage from $154.00 to $158.00 and gave the company an “overweight” rating in a report on Friday, July 24th. Six investment analysts have rated the stock with a Buy rating and ten have assigned a Hold rating to the stock. According to MarketBeat.com, the stock has an average 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 stock in a transaction dated Thursday, June 11th. The shares were sold at an average price of $150.00, for a total transaction of $495,000.00. Following the completion of the sale, the executive vice president owned 37,374 shares in the company, 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 Securities & Exchange Commission, which is accessible through this link. 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.