Paralel Advisors LLC Purchases Shares of 12,270 Extra Space Storage Inc $EXR

Paralel Advisors LLC purchased a new position in shares of Extra Space Storage Inc (NYSE:EXR) in the second quarter, Holdings Channel.com reports. The firm purchased 12,270 shares of the real estate investment trust’s stock, valued at approximately $1,783,000.

Several other institutional investors and hedge funds have also made changes to their positions in the business. BlackRock Inc. purchased a new position in shares of Extra Space Storage in the 2nd quarter valued at about $3,334,263,000. Norges Bank purchased a new stake in Extra Space Storage during the fourth quarter worth approximately $1,219,606,000. Capital International Investors boosted its holdings in Extra Space Storage by 73.9% in the fourth quarter. Capital International Investors now owns 6,256,687 shares of the real estate investment trust’s stock valued at $814,746,000 after purchasing an additional 2,658,947 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its holdings in Extra Space Storage by 900.0% in 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 valued at $308,348,000 after purchasing an additional 1,969,013 shares in the last quarter. Finally, Cohen & Steers Inc. boosted its holdings in Extra Space Storage by 13.4% in 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 in the last quarter. 99.11% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

EXR has been the topic of a number of research analyst reports. Barclays raised their price objective on shares of Extra Space Storage from $170.00 to $172.00 and gave the stock an “overweight” rating in a report on Friday, July 10th. Mizuho increased their target price on shares of Extra Space Storage from $150.00 to $155.00 and gave the company an “outperform” rating in a research report on Wednesday, May 27th. Wells Fargo & Company lifted their price target on shares of Extra Space Storage from $154.00 to $158.00 and gave the stock an “overweight” rating in a research note on Friday, July 24th. Raymond James Financial started coverage on shares of Extra Space Storage in a research note on Thursday, July 16th. They issued an “outperform” rating and a $44.00 price objective for the company. Finally, Wall Street Zen upgraded Extra Space Storage from a “sell” rating to a “hold” rating in a research report on Sunday, August 9th. Six investment analysts have rated the stock with a Buy rating and ten have issued a Hold rating to the stock. Based on data from MarketBeat.com, Extra Space Storage has an average rating of “Hold” and a consensus price target of $147.87.

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 dated 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 sale, the executive vice president directly owned 37,374 shares of the company’s stock, valued at approximately $5,606,100. This represents a 8.11% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 0.96% of the company’s stock.

Extra Space Storage Price Performance

EXR stock opened at $147.53 on Friday. The company has a market capitalization of $31.17 billion, a P/E ratio of 32.57, a PEG ratio of 4.25 and a beta of 1.18. Extra Space Storage Inc has a twelve month low of $125.71 and a twelve month high of $158.88. The business has a 50 day simple moving average of $147.37 and a 200-day simple moving average of $143.74. The company has a current ratio of 1.56, a quick ratio of 1.56 and a debt-to-equity ratio of 0.96.

Extra Space Storage (NYSE:EXR) last announced its earnings results on Tuesday, July 28th. The real estate investment trust reported $1.25 EPS for the quarter, beating analysts’ consensus estimates 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%. The company’s quarterly revenue was up 3.9% on a year-over-year basis. During the same period in the previous year, the company posted $2.05 EPS. Extra Space Storage has set its FY 2026 guidance at 8.250-8.400 EPS. As a group, equities analysts anticipate that Extra Space Storage Inc will post 8.32 EPS for the current year.

Extra Space Storage Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 30th. Shareholders of record on Tuesday, September 15th will be paid a $1.62 dividend. The ex-dividend date is Tuesday, September 15th. This represents a $6.48 dividend on an annualized basis and a yield of 4.4%. Extra Space Storage’s payout ratio 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.