Extra Space Storage Inc (NYSE:EXR) Short Interest Update

Extra Space Storage Inc (NYSE:EXR) saw a large increase in short interest in March. As of March 13th, there was short interest totaling 5,898,892 shares, an increase of 18.6% from the February 26th total of 4,975,803 shares. Based on an average daily volume of 1,034,929 shares, the short-interest ratio is presently 5.7 days. Currently, 2.8% of the shares of the stock are short sold.

Extra Space Storage Trading Up 2.0%

Shares of NYSE:EXR traded up $2.62 during mid-day trading on Tuesday, reaching $130.90. 1,493,647 shares of the company’s stock were exchanged, compared to its average volume of 1,218,192. The firm has a market capitalization of $27.64 billion, a price-to-earnings ratio of 28.46, a PEG ratio of 2.58 and a beta of 1.24. The business’s fifty day moving average price is $141.39 and its 200-day moving average price is $138.75. 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 has a twelve month low of $121.03 and a twelve month high of $155.19.

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

Extra Space Storage Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, March 31st. Stockholders of record on Monday, March 16th will be given a dividend of $1.62 per share. This represents a $6.48 dividend on an annualized basis and a dividend yield of 5.0%. The ex-dividend date is Monday, March 16th. Extra Space Storage’s dividend payout ratio (DPR) is 140.87%.

Insider Activity

In related news, CEO Joseph D. Margolis sold 7,500 shares of the company’s stock in a transaction that occurred on Friday, March 13th. The shares were 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 in the company, valued at $9,447,609.60. This represents a 10.14% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Company insiders own 1.36% of the company’s stock.

Hedge Funds Weigh In On Extra Space Storage

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Avalon Trust Co bought a new position in Extra Space Storage during the 3rd quarter worth approximately $28,000. Caitong International Asset Management Co. Ltd acquired a new stake in shares of Extra Space Storage during the third quarter worth $28,000. Reflection Asset Management bought a new position in Extra Space Storage during the fourth quarter worth $26,000. Versant Capital Management Inc lifted its holdings in Extra Space Storage by 60.2% in the third quarter. Versant Capital Management Inc now owns 213 shares of the real estate investment trust’s stock valued at $30,000 after buying an additional 80 shares during the period. Finally, Davis Capital Management acquired a new position in Extra Space Storage in the third quarter valued at $35,000. 99.11% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

EXR has been the topic of a number of research reports. JPMorgan Chase & Co. boosted their target price on shares of Extra Space Storage from $142.00 to $144.00 and gave the stock a “neutral” rating in a research note on Monday, March 23rd. Bank of America downgraded Extra Space Storage from a “neutral” rating to an “underperform” rating and set a $143.00 price objective on the stock. in a report on Thursday, February 5th. Mizuho boosted their price objective on Extra Space Storage from $137.00 to $143.00 and gave the stock an “outperform” rating in a research report on Monday, January 12th. Scotiabank upped their target price on Extra Space Storage from $145.00 to $156.00 and gave the stock a “sector perform” rating in a report on Monday, March 2nd. Finally, Wells Fargo & Company dropped their target price on Extra Space Storage from $160.00 to $150.00 and set an “overweight” rating for the company in a research report on Thursday, February 5th. Six research analysts have rated the stock with a Buy rating, nine have issued a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $143.80.

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.