Bank of America Corp DE Purchases 155,501 Shares of Extra Space Storage Inc $EXR

Bank of America Corp DE raised its position in Extra Space Storage Inc (NYSE:EXR) by 24.9% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm 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 owned 0.37% of Extra Space Storage worth $102,312,000 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in EXR. Norges Bank bought a new stake in shares of Extra Space Storage during the 4th quarter worth approximately $1,219,606,000. Capital International Investors lifted its position in shares of Extra Space Storage by 73.9% during the fourth quarter. Capital International Investors now owns 6,256,687 shares of the real estate investment trust’s stock worth $814,746,000 after purchasing an additional 2,658,947 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its position in shares of Extra Space Storage by 900.0% during the third quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 2,187,795 shares of the real estate investment trust’s stock worth $308,348,000 after purchasing an additional 1,969,013 shares during the last quarter. Cohen & Steers Inc. boosted its stake in shares of Extra Space Storage by 13.4% during the fourth quarter. Cohen & Steers Inc. now owns 15,979,424 shares of the real estate investment trust’s stock valued at $2,080,971,000 after purchasing an additional 1,888,763 shares during the period. Finally, Resolution Capital Ltd boosted its stake in shares of Extra Space Storage by 116.2% during the second quarter. Resolution Capital Ltd now owns 1,950,842 shares of the real estate investment trust’s stock valued at $287,632,000 after purchasing an additional 1,048,685 shares during the period. Institutional investors own 99.11% of the company’s stock.

Insider Activity at Extra Space Storage

In related news, EVP Gwyn Goodson Mcneal sold 3,300 shares of the business’s stock in a transaction that occurred on 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 transaction, the executive vice president owned 37,374 shares in the company, valued at $5,606,100. The trade was a 8.11% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Insiders own 0.96% of the company’s stock.

Extra Space Storage Price Performance

NYSE EXR opened at $149.37 on Friday. The company has a market cap of $31.56 billion, a PE ratio of 32.97, a P/E/G ratio of 4.31 and a beta of 1.18. The firm’s 50 day moving average price is $147.05 and its 200-day moving average price is $143.37. The company has a debt-to-equity ratio of 0.96, a quick ratio of 0.37 and a current ratio of 1.56. Extra Space Storage Inc has a 52-week low of $125.71 and a 52-week high of $158.88.

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

Extra Space Storage Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, June 30th. Shareholders of record on Monday, June 15th were issued a $1.62 dividend. The ex-dividend date was Monday, June 15th. This represents a $6.48 dividend on an annualized basis and a yield of 4.3%. Extra Space Storage’s payout ratio is currently 143.05%.

Wall Street Analyst Weigh In

EXR has been the subject of a number of research analyst reports. Barclays lifted their price objective on shares of Extra Space Storage from $170.00 to $172.00 and gave the company an “overweight” rating in a report on Friday, July 10th. The Goldman Sachs Group reaffirmed a “neutral” rating and set a $160.00 target price on shares of Extra Space Storage in a research report on Thursday, July 30th. Wall Street Zen downgraded shares of Extra Space Storage from a “hold” rating to a “sell” rating in a research note on Saturday, August 1st. Bank of America raised shares of Extra Space Storage from an “underperform” rating to a “neutral” rating and lifted their price target for the company from $147.00 to $156.00 in a research note on Tuesday, June 16th. Finally, Wells Fargo & Company boosted their price target 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 analysts have rated the stock with a Buy rating and ten have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $147.73.

Extra Space Storage Company 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.