Land & Buildings Investment Management LLC Reduces Holdings in Extra Space Storage Inc $EXR

Land & Buildings Investment Management LLC trimmed its holdings in shares of Extra Space Storage Inc (NYSE:EXR) by 23.7% in the 3rd quarter, HoldingsChannel.com reports. The institutional investor owned 137,562 shares of the real estate investment trust’s stock after selling 42,840 shares during the quarter. Extra Space Storage accounts for approximately 3.6% of Land & Buildings Investment Management LLC’s portfolio, making the stock its 15th biggest holding. Land & Buildings Investment Management LLC’s holdings in Extra Space Storage were worth $19,388,000 at the end of the most recent quarter.

Several other large investors also recently added to or reduced their stakes in the business. Vanguard Group Inc. increased its holdings in Extra Space Storage by 0.5% during the third quarter. Vanguard Group Inc. now owns 34,430,823 shares of the real estate investment trust’s stock valued at $4,852,680,000 after buying an additional 161,171 shares during the last quarter. State Street Corp boosted its stake in shares of Extra Space Storage by 1.6% during the 2nd quarter. State Street Corp now owns 13,680,181 shares of the real estate investment trust’s stock worth $2,017,006,000 after acquiring an additional 210,466 shares during the last quarter. Norges Bank purchased a new position in shares of Extra Space Storage during the 2nd quarter worth $1,058,303,000. Capital World Investors grew its position in shares of Extra Space Storage by 0.5% during the 3rd quarter. Capital World Investors now owns 7,161,360 shares of the real estate investment trust’s stock valued at $1,009,371,000 after acquiring an additional 33,622 shares during the period. Finally, Principal Financial Group Inc. grew its position in shares of Extra Space Storage by 6.4% during 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 acquiring an additional 406,146 shares during the period. 99.11% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of equities analysts recently commented on EXR shares. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Extra Space Storage in a report on Thursday, January 22nd. Wells Fargo & Company cut their price target on Extra Space Storage from $160.00 to $150.00 and set an “overweight” rating for the company in a report on Thursday, February 5th. Royal Bank Of Canada upped their price target on Extra Space Storage from $142.00 to $153.00 and gave the stock a “sector perform” rating in a research report on Monday, February 23rd. Barclays raised their price objective on Extra Space Storage from $164.00 to $170.00 and gave the stock an “overweight” rating in a research note on Thursday, March 5th. Finally, UBS Group lowered their price objective on Extra Space Storage from $156.00 to $148.00 and set a “buy” rating on the stock in a research report on Thursday, January 8th. Five research analysts have rated the stock with a Buy rating, ten have assigned a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $145.13.

Insider Activity at Extra Space Storage

In related news, CEO Joseph D. Margolis sold 7,500 shares of the stock in a transaction that occurred 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 transaction, the chief executive officer directly owned 66,495 shares of the company’s stock, valued at approximately $9,447,609.60. This represents a 10.14% 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. Corporate insiders own 0.96% of the company’s stock.

Extra Space Storage Price Performance

Shares of NYSE:EXR opened at $139.46 on Tuesday. The firm has a market cap of $29.44 billion, a price-to-earnings ratio of 30.32, a P/E/G ratio of 2.84 and a beta of 1.24. The firm has a fifty day moving average price of $143.59 and a 200 day moving average price of $139.77. Extra Space Storage Inc has a fifty-two week low of $121.03 and a fifty-two week high of $155.19. The company has a debt-to-equity ratio of 0.92, a quick ratio of 0.39 and a current ratio of 0.39.

Extra Space Storage (NYSE:EXR) last announced its quarterly earnings results on Thursday, February 19th. The real estate investment trust reported $2.08 EPS for the quarter, topping the consensus estimate of $2.03 by $0.05. Extra Space Storage had a net margin of 28.84% and a return on equity of 6.79%. The business had revenue of $857.47 million for the quarter, compared to analysts’ expectations of $732.92 million. During the same quarter in the previous year, the company earned $2.03 EPS. The business’s quarterly revenue was up 4.3% compared to the same quarter last year. Extra Space Storage has set its FY 2026 guidance at 8.050-8.350 EPS. As a group, sell-side analysts expect that Extra Space Storage Inc will post 8.1 earnings per share for the current fiscal year.

Extra Space Storage Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, March 31st. Investors of record on Monday, March 16th will be given a $1.62 dividend. This represents a $6.48 dividend on an annualized basis and a dividend yield of 4.6%. The ex-dividend date is Monday, March 16th. Extra Space Storage’s payout ratio is currently 140.87%.

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.