Commerce Bank Purchases Shares of 15,653 Extra Space Storage Inc $EXR

Commerce Bank acquired a new position in shares of Extra Space Storage Inc (NYSE:EXR) in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 15,653 shares of the real estate investment trust’s stock, valued at approximately $2,274,000.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. NewEdge Advisors LLC grew 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 purchasing an additional 291 shares during the last quarter. Empowered Funds LLC lifted its holdings in 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 valued at $729,000 after purchasing an additional 661 shares during the last quarter. Sivia Capital Partners LLC bought a new position in Extra Space Storage during the 2nd quarter valued at 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 in 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 in the last quarter. Institutional investors and hedge funds own 99.11% of the company’s stock.

Extra Space Storage Trading Down 0.4%

Shares of NYSE EXR opened at $146.28 on Tuesday. Extra Space Storage Inc has a 1-year low of $125.71 and a 1-year high of $158.88. The company has a market cap of $30.91 billion, a PE ratio of 32.29, a P/E/G ratio of 4.22 and a beta of 1.18. The company has a current ratio of 1.56, a quick ratio of 1.56 and a debt-to-equity ratio of 0.96. The company has a 50-day moving average of $147.30 and a two-hundred day moving average of $143.88.

Extra Space Storage (NYSE:EXR) last released its quarterly earnings results on Tuesday, July 28th. The real estate investment trust reported $1.25 EPS for the quarter, beating the consensus estimate of $1.16 by $0.09. The business had revenue of $874.15 million for the quarter, compared to analysts’ expectations of $874.99 million. Extra Space Storage had a net margin of 27.80% and a return on equity of 6.70%. Extra Space Storage’s revenue was up 3.9% compared to the same quarter last year. During the same period in the prior year, the firm earned $2.05 earnings per share. Extra Space Storage has set its FY 2026 guidance at 8.250-8.400 EPS. As a group, equities analysts expect that Extra Space Storage Inc will post 8.32 earnings per share for the current fiscal year.

Extra Space Storage Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, September 30th. Stockholders of record on Tuesday, September 15th will be paid a $1.62 dividend. This represents a $6.48 annualized dividend and a dividend yield of 4.4%. The ex-dividend date of this dividend is Tuesday, September 15th. Extra Space Storage’s dividend payout ratio (DPR) is 143.05%.

Insider Activity at Extra Space Storage

In other news, EVP Gwyn Goodson Mcneal sold 3,300 shares of the company’s stock in a transaction on Thursday, June 11th. The stock was sold at an average price of $150.00, for a total transaction of $495,000.00. Following the transaction, the executive vice president owned 37,374 shares of the company’s stock, valued at $5,606,100. This represents a 8.11% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Company insiders own 0.96% of the company’s stock.

Analyst Upgrades and Downgrades

EXR has been the subject of several recent analyst reports. Weiss Ratings raised shares of Extra Space Storage from a “hold (c)” rating to a “hold (c+)” rating in a report on Friday, August 7th. Barclays boosted their target price on Extra Space Storage from $170.00 to $172.00 and gave the stock an “overweight” rating in a report on Friday, July 10th. Truist Financial increased their price target on Extra Space Storage from $140.00 to $148.00 and gave the stock a “hold” rating in a research report on Wednesday, June 17th. UBS Group raised their price target on Extra Space Storage from $158.00 to $163.00 and gave the company a “buy” rating in a report on Friday, July 10th. Finally, Wall Street Zen raised Extra Space Storage from a “sell” rating to a “hold” rating in a research note on Sunday, August 9th. Six research analysts have rated the stock with a Buy rating and ten have assigned a Hold rating to the company. According to MarketBeat, Extra Space Storage currently has a consensus rating of “Hold” and a consensus target price of $148.53.

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.