OP Asset Management Ltd Purchases New Stake in Extra Space Storage Inc $EXR

OP Asset Management Ltd acquired a new position in shares of Extra Space Storage Inc (NYSE:EXR) in the 1st quarter, Holdings Channel.com reports. The firm acquired 22,217 shares of the real estate investment trust’s stock, valued at approximately $2,913,000.

A number of other large investors have also recently bought and sold shares of the company. Caitong International Asset Management Co. Ltd bought a new position in Extra Space Storage in the 3rd quarter valued at about $28,000. Reflection Asset Management bought a new stake in shares of Extra Space Storage during the 4th quarter worth approximately $26,000. Rosenberg Matthew Hamilton lifted its holdings in shares of Extra Space Storage by 442.9% during the 4th quarter. Rosenberg Matthew Hamilton now owns 266 shares of the real estate investment trust’s stock worth $35,000 after acquiring an additional 217 shares during the period. DV Equities LLC acquired a new stake in shares of Extra Space Storage during the 4th quarter worth approximately $39,000. Finally, Logan Capital Management Inc. boosted its position in shares of Extra Space Storage by 313.7% during the 3rd quarter. Logan Capital Management Inc. now owns 302 shares of the real estate investment trust’s stock worth $43,000 after acquiring an additional 229 shares in the last quarter. 99.11% of the stock is currently owned by institutional investors and hedge funds.

Extra Space Storage Trading Up 1.4%

Shares of EXR stock opened at $149.18 on Friday. The company has a market capitalization of $31.52 billion, a price-to-earnings ratio of 33.45, a PEG ratio of 4.62 and a beta of 1.20. The company has a debt-to-equity ratio of 0.93, a quick ratio of 0.37 and a current ratio of 0.37. The company has a 50-day simple moving average of $144.11 and a two-hundred day simple moving average of $140.47. Extra Space Storage Inc has a 52-week low of $125.71 and a 52-week high of $155.19.

Extra Space Storage (NYSE:EXR) last posted 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 company had revenue of $856.03 million for the quarter, compared to analysts’ expectations of $851.35 million. Extra Space Storage had a return on equity of 6.65% and a net margin of 27.66%.The business’s quarterly revenue was up 4.4% on a year-over-year basis. During the same quarter last year, the business posted $2.00 EPS. Extra Space Storage has set its FY 2026 guidance at 8.050-8.350 EPS. Research analysts anticipate that Extra Space Storage Inc will post 8.26 EPS for the current fiscal year.

Extra Space Storage Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 30th. Investors of record on Monday, June 15th will be paid a dividend of $1.62 per share. The ex-dividend date of this dividend is Monday, June 15th. This represents a $6.48 annualized dividend and a yield of 4.3%. Extra Space Storage’s dividend payout ratio (DPR) is currently 145.29%.

Insider Buying and Selling

In other news, EVP Gwyn Goodson Mcneal sold 3,300 shares of the stock in a transaction dated 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 directly owned 37,374 shares in the company, valued at approximately $5,606,100. This represents a 8.11% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 0.96% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

Several analysts recently weighed in on the company. UBS Group upped their price objective on Extra Space Storage from $148.00 to $158.00 and gave the stock a “buy” rating in a research report on Monday, May 18th. Weiss Ratings reiterated a “hold (c)” rating on shares of Extra Space Storage in a research report on Tuesday, April 21st. Barclays boosted their target price on Extra Space Storage from $164.00 to $170.00 and gave the stock an “overweight” rating in a research note on Thursday, March 5th. Mizuho increased their price objective on shares of Extra Space Storage from $150.00 to $155.00 and gave the company an “outperform” rating in a research note on Wednesday, May 27th. Finally, Truist Financial lifted their price target on Extra Space Storage from $140.00 to $148.00 and gave the company a “hold” rating in a research note on Wednesday, June 17th. Five 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, Extra Space Storage currently has a consensus rating of “Hold” and a consensus target price of $153.07.

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.