JPMorgan Chase & Co. Raises Stock Holdings in Extra Space Storage Inc $EXR

JPMorgan Chase & Co. boosted its stake in Extra Space Storage Inc (NYSE:EXR) by 2.0% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 3,944,084 shares of the real estate investment trust’s stock after purchasing an additional 77,221 shares during the quarter. JPMorgan Chase & Co.’s holdings in Extra Space Storage were worth $513,599,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also bought and sold shares of the stock. NewEdge Advisors LLC increased its holdings in shares of Extra Space Storage by 9.3% in the 1st quarter. NewEdge Advisors LLC now owns 3,409 shares of the real estate investment trust’s stock worth $506,000 after buying an additional 291 shares during the last quarter. Empowered Funds LLC lifted its holdings in shares of Extra Space Storage by 15.5% during the 1st quarter. Empowered Funds LLC now owns 4,912 shares of the real estate investment trust’s stock worth $729,000 after acquiring an additional 661 shares during the last quarter. Sivia Capital Partners LLC purchased a new position in Extra Space Storage in the second quarter worth $457,000. First Trust Advisors LP grew its position in Extra Space Storage by 184.1% in the second quarter. First Trust Advisors LP now owns 108,205 shares of the real estate investment trust’s stock worth $15,954,000 after acquiring an additional 70,115 shares in the last quarter. Finally, Brown Advisory Inc. increased its stake in Extra Space Storage by 1.8% in the second quarter. Brown Advisory Inc. now owns 4,431 shares of the real estate investment trust’s stock valued at $653,000 after acquiring an additional 80 shares during the last quarter. 99.11% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

EXR has been the topic of a number of research reports. Mizuho raised their price target on Extra Space Storage from $150.00 to $155.00 and gave the company an “outperform” rating in a research report on Wednesday, May 27th. Royal Bank Of Canada upped their price objective on Extra Space Storage from $142.00 to $153.00 and gave the stock a “sector perform” rating in a report on Monday, February 23rd. Barclays raised their price objective on Extra Space Storage from $164.00 to $170.00 and gave the company an “overweight” rating in a report on Thursday, March 5th. JPMorgan Chase & Co. boosted their target price on Extra Space Storage from $142.00 to $144.00 and gave the stock a “neutral” rating in a research report on Monday, March 23rd. Finally, Truist Financial cut their target price on Extra Space Storage from $158.00 to $150.00 and set a “hold” rating for the company in a research note on Wednesday, May 6th. Five equities research analysts have rated the stock with a Buy rating, nine have given a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $152.29.

Extra Space Storage Stock Performance

NYSE:EXR opened at $149.85 on Thursday. The company has a quick ratio of 0.37, a current ratio of 0.37 and a debt-to-equity ratio of 0.93. The firm’s fifty day simple moving average is $141.54 and its 200 day simple moving average is $139.25. The stock has a market cap of $31.66 billion, a P/E ratio of 33.60, a price-to-earnings-growth ratio of 4.81 and a beta of 1.20. Extra Space Storage Inc has a twelve month low of $125.71 and a twelve month high of $155.19.

Extra Space Storage (NYSE:EXR) last issued its quarterly earnings data on Tuesday, April 28th. The real estate investment trust reported $1.14 EPS for the quarter, missing the consensus estimate of $2.01 by ($0.87). Extra Space Storage had a return on equity of 6.65% and a net margin of 27.66%.The company had revenue of $856.03 million during the quarter, compared to the consensus estimate of $851.35 million. During the same quarter last year, the company posted $2.00 earnings per share. The firm’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. As a group, research analysts predict that Extra Space Storage Inc will post 8.24 EPS for the current year.

Extra Space Storage Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 30th. Shareholders of record on Monday, June 15th will be issued a $1.62 dividend. The ex-dividend date is Monday, June 15th. This represents a $6.48 annualized dividend and a yield of 4.3%. Extra Space Storage’s dividend payout ratio (DPR) is 145.29%.

Insider Buying and Selling

In other Extra Space Storage news, CEO Joseph D. Margolis sold 7,500 shares of Extra Space Storage 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 sale, the chief executive officer directly owned 66,495 shares of the company’s stock, valued at approximately $9,447,609.60. The trade was a 10.14% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. 0.96% of the stock is owned by company insiders.

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.