Bank of America Corp DE Raises Holdings in Extra Space Storage Inc $EXR

Bank of America Corp DE lifted its stake in Extra Space Storage Inc (NYSE:EXR) by 24.9% in the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 780,236 shares of the real estate investment trust’s stock after purchasing an additional 155,501 shares during the quarter. Bank of America Corp DE’s holdings in Extra Space Storage were worth $102,312,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. NewEdge Advisors LLC lifted its position in Extra Space Storage by 9.3% during the 1st quarter. NewEdge Advisors LLC now owns 3,409 shares of the real estate investment trust’s stock worth $506,000 after acquiring an additional 291 shares during the period. Empowered Funds LLC lifted its holdings in shares of Extra Space Storage by 15.5% during the first quarter. Empowered Funds LLC now owns 4,912 shares of the real estate investment trust’s stock worth $729,000 after purchasing an additional 661 shares during the period. Sivia Capital Partners LLC acquired a new stake in shares of Extra Space Storage during the second quarter worth about $457,000. First Trust Advisors LP boosted 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 valued at $15,954,000 after buying an additional 70,115 shares during the last quarter. Finally, Brown Advisory Inc. boosted its position 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 buying an additional 80 shares during the last quarter. 99.11% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of equities analysts have issued reports on EXR shares. Truist Financial raised their price target on shares of Extra Space Storage from $140.00 to $148.00 and gave the stock a “hold” rating in a research report on Wednesday, June 17th. Mizuho raised their target price on shares of Extra Space Storage from $150.00 to $155.00 and gave the stock an “outperform” rating in a report on Wednesday, May 27th. Weiss Ratings restated a “hold (c)” rating on shares of Extra Space Storage in a research report on Friday, July 17th. Wall Street Zen lowered shares of Extra Space Storage from a “hold” rating to a “sell” rating in a report on Saturday, August 1st. Finally, The Goldman Sachs Group reaffirmed a “neutral” rating and set a $160.00 price target on shares of Extra Space Storage in a research report on Thursday, July 30th. Six equities research analysts have rated the stock with a Buy rating and ten have issued a Hold rating to the stock. According to MarketBeat, the company presently has an average rating of “Hold” and an average target price of $147.73.

Insiders Place Their Bets

In other Extra Space Storage news, EVP Gwyn Goodson Mcneal sold 3,300 shares of Extra Space Storage stock in a transaction on Thursday, June 11th. The shares were sold at an average price of $150.00, for a total value of $495,000.00. Following the completion of the transaction, the executive vice president owned 37,374 shares of the company’s stock, 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 filing with the Securities & Exchange Commission, which is accessible through this link. Insiders own 0.96% of the company’s stock.

Extra Space Storage Trading Down 0.1%

Shares of NYSE:EXR opened at $149.37 on Friday. The company has a current ratio of 1.56, a quick ratio of 0.37 and a debt-to-equity ratio of 0.96. Extra Space Storage Inc has a 12-month low of $125.71 and a 12-month high of $158.88. The business has a 50 day moving average of $147.05 and a two-hundred day moving average of $143.37. The company has a market capitalization of $31.56 billion, a PE ratio of 32.97, a PEG ratio of 4.31 and a beta of 1.18.

Extra Space Storage (NYSE:EXR) last issued its quarterly earnings data on Tuesday, July 28th. The real estate investment trust reported $1.25 EPS for the quarter, topping analysts’ consensus estimates of $1.16 by $0.09. Extra Space Storage had a net margin of 27.80% and a return on equity of 6.70%. The business had revenue of $874.15 million for the quarter, compared to analysts’ expectations of $874.99 million. During the same quarter last year, the company earned $2.05 EPS. The business’s revenue was up 3.9% on a year-over-year basis. Extra Space Storage has set its FY 2026 guidance at 8.250-8.400 EPS. As a group, analysts forecast that Extra Space Storage Inc will post 8.31 EPS for the current year.

Extra Space Storage Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Tuesday, June 30th. Investors of record on Monday, June 15th were given a dividend of $1.62 per share. This represents a $6.48 annualized dividend and a yield of 4.3%. The ex-dividend date was Monday, June 15th. Extra Space Storage’s dividend payout ratio (DPR) is currently 143.05%.

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.