Elevation Point Wealth Partners LLC Purchases New Shares in Extra Space Storage Inc $EXR

Elevation Point Wealth Partners LLC purchased a new position in shares of Extra Space Storage Inc (NYSE:EXR) in the second quarter, HoldingsChannel.com reports. The firm purchased 3,568 shares of the real estate investment trust’s stock, valued at approximately $518,000.

A number of other institutional investors and hedge funds have also made changes to their positions in the business. BlackRock Inc. purchased a new stake in shares of Extra Space Storage during the second quarter worth approximately $3,334,263,000. Norges Bank acquired a new stake in shares of Extra Space Storage in the fourth quarter valued at about $1,219,606,000. Capital International Investors boosted its stake in shares of Extra Space Storage by 73.9% during the 4th quarter. Capital International Investors now owns 6,256,687 shares of the real estate investment trust’s stock worth $814,746,000 after acquiring an additional 2,658,947 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its position in 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 in the last quarter. Finally, Cohen & Steers Inc. boosted its position in shares of Extra Space Storage by 13.4% in the 4th quarter. Cohen & Steers Inc. now owns 15,979,424 shares of the real estate investment trust’s stock worth $2,080,971,000 after buying an additional 1,888,763 shares in the last quarter. 99.11% of the stock is owned by hedge funds and other institutional investors.

Extra Space Storage Price Performance

EXR stock opened at $144.94 on Wednesday. The company has a market cap of $30.62 billion, a PE ratio of 32.00, a price-to-earnings-growth ratio of 4.21 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 stock has a 50-day moving average price of $147.27 and a two-hundred day moving average price of $143.90. Extra Space Storage Inc has a 12-month low of $125.71 and a 12-month high of $158.88.

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

Extra Space Storage Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, September 30th. Investors of record on Tuesday, September 15th will be issued a $1.62 dividend. The ex-dividend date is Tuesday, September 15th. This represents a $6.48 annualized dividend and a yield of 4.5%. Extra Space Storage’s dividend payout ratio (DPR) is presently 143.05%.

Analyst Upgrades and Downgrades

A number of brokerages have commented on EXR. The Goldman Sachs Group reiterated a “neutral” rating and set a $160.00 target price on shares of Extra Space Storage in a report on Thursday, July 30th. Raymond James Financial initiated coverage on shares of Extra Space Storage in a research report on Thursday, July 16th. They set an “outperform” rating and a $44.00 target price on the stock. Bank of America upgraded Extra Space Storage from an “underperform” rating to a “neutral” rating and boosted their price target for the company from $147.00 to $156.00 in a report on Tuesday, June 16th. UBS Group increased their price target on Extra Space Storage from $158.00 to $163.00 and gave the stock a “buy” rating in a research note on Friday, July 10th. Finally, Wall Street Zen upgraded Extra Space Storage from a “sell” rating to a “hold” rating in a report 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’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $148.53.

Insiders Place Their Bets

In other Extra Space Storage news, EVP Gwyn Goodson Mcneal sold 3,300 shares of Extra Space Storage 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 transaction, the executive vice president directly owned 37,374 shares of the company’s stock, valued at $5,606,100. The trade was a 8.11% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. 0.96% of the stock is currently owned by company insiders.

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.