M&T Bank Corp Buys 22,452 Shares of Extra Space Storage Inc $EXR

M&T Bank Corp lifted its stake in Extra Space Storage Inc (NYSE:EXR) by 165.6% during the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 36,009 shares of the real estate investment trust’s stock after acquiring an additional 22,452 shares during the period. M&T Bank Corp’s holdings in Extra Space Storage were worth $4,689,000 at the end of the most recent reporting period.

A number of other institutional investors have also made changes to their positions in the stock. Avalon Trust Co bought a new position in Extra Space Storage in the 3rd quarter worth approximately $28,000. Caitong International Asset Management Co. Ltd bought a new position in Extra Space Storage in the 3rd quarter worth approximately $28,000. Versant Capital Management Inc increased its position in Extra Space Storage by 60.2% in the 3rd quarter. Versant Capital Management Inc now owns 213 shares of the real estate investment trust’s stock worth $30,000 after buying an additional 80 shares during the period. Rosenberg Matthew Hamilton increased its position in Extra Space Storage by 442.9% in the 4th quarter. Rosenberg Matthew Hamilton now owns 266 shares of the real estate investment trust’s stock worth $35,000 after buying an additional 217 shares during the period. Finally, Logan Capital Management Inc. increased its position in Extra Space Storage by 313.7% in the 3rd quarter. Logan Capital Management Inc. now owns 302 shares of the real estate investment trust’s stock worth $43,000 after buying an additional 229 shares during the period. 99.11% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several research analysts have commented on the company. Barclays lifted their price target on Extra Space Storage from $164.00 to $170.00 and gave the stock an “overweight” rating in a research report on Thursday, March 5th. Scotiabank lifted their price target on Extra Space Storage from $145.00 to $156.00 and gave the stock a “sector perform” rating in a research report on Monday, March 2nd. Bank of America downgraded Extra Space Storage from a “neutral” rating to an “underperform” rating and set a $143.00 price target on the stock. in a research report on Thursday, February 5th. Mizuho lifted their price target 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. Finally, Truist Financial dropped their price target on Extra Space Storage from $158.00 to $150.00 and set a “hold” rating on the stock in a research report on Wednesday. Six equities research analysts have rated the stock with a Buy rating, nine have assigned a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $143.93.

Extra Space Storage Stock Performance

EXR opened at $143.84 on Thursday. The stock has a market cap of $30.39 billion, a PE ratio of 32.25, a P/E/G ratio of 4.55 and a beta of 1.22. The company has a current ratio of 0.37, a quick ratio of 0.39 and a debt-to-equity ratio of 0.93. Extra Space Storage Inc has a 1 year low of $125.71 and a 1 year high of $155.19. The stock’s 50 day simple moving average is $140.09 and its 200-day simple moving average is $138.31.

Extra Space Storage (NYSE:EXR) last released its quarterly earnings data on Tuesday, April 28th. The real estate investment trust reported $1.14 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.01 by ($0.87). The firm had revenue of $856.03 million for the quarter, compared to the consensus estimate of $851.35 million. Extra Space Storage had a net margin of 27.66% and a return on equity of 6.65%. The business’s revenue for the quarter was up 4.4% on a year-over-year basis. During the same quarter in the prior year, the firm posted $2.00 earnings per share. Extra Space Storage has set its FY 2026 guidance at 8.050-8.350 EPS. Sell-side analysts forecast that Extra Space Storage Inc will post 8.23 EPS for the current year.

Extra Space Storage Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, March 31st. Stockholders of record on Monday, March 16th were given a dividend of $1.62 per share. The ex-dividend date was Monday, March 16th. This represents a $6.48 dividend on an annualized basis and a dividend yield of 4.5%. Extra Space Storage’s payout ratio is currently 145.29%.

Insider Activity

In other news, CEO Joseph D. Margolis sold 7,500 shares of the business’s 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 in the company, valued at approximately $9,447,609.60. The trade was a 10.14% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Corporate insiders own 0.96% of the company’s stock.

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.