Alliancebernstein L.P. Purchases 343,081 Shares of Extra Space Storage Inc $EXR

Alliancebernstein L.P. raised its holdings in shares of Extra Space Storage Inc (NYSE:EXR) by 55.9% in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 956,602 shares of the real estate investment trust’s stock after purchasing an additional 343,081 shares during the quarter. Alliancebernstein L.P. owned 0.45% of Extra Space Storage worth $134,823,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also made changes to their positions in the business. NewEdge Advisors LLC raised its position in shares of Extra Space Storage by 9.3% during the 1st quarter. NewEdge Advisors LLC now owns 3,409 shares of the real estate investment trust’s stock valued at $506,000 after buying an additional 291 shares in the last quarter. Empowered Funds LLC grew its position in Extra Space Storage by 15.5% in the first quarter. Empowered Funds LLC now owns 4,912 shares of the real estate investment trust’s stock worth $729,000 after acquiring an additional 661 shares in the last quarter. Sivia Capital Partners LLC bought a new stake in Extra Space Storage during the second quarter worth approximately $457,000. Vise Technologies Inc. purchased a new stake in Extra Space Storage during the second quarter valued at approximately $262,000. Finally, Foundations Investment Advisors LLC bought a new stake in shares of Extra Space Storage in the 2nd quarter valued at approximately $2,987,000. 99.11% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Extra Space Storage

In related news, CEO Joseph D. Margolis sold 7,500 shares of the firm’s stock in a transaction dated 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 owned 66,495 shares of the company’s stock, valued at $9,447,609.60. This trade represents a 10.14% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 0.96% of the stock is owned by company insiders.

Extra Space Storage Trading Down 1.4%

EXR opened at $139.46 on Tuesday. The stock’s fifty day moving average is $143.59 and its two-hundred day moving average is $139.77. The company has a market capitalization of $29.44 billion, a P/E ratio of 30.32, a PEG ratio of 2.84 and a beta of 1.24. Extra Space Storage Inc has a 52 week low of $121.03 and a 52 week high of $155.19. The company has a quick ratio of 0.39, a current ratio of 0.39 and a debt-to-equity ratio of 0.92.

Extra Space Storage (NYSE:EXR) last issued its earnings results on Thursday, February 19th. The real estate investment trust reported $2.08 earnings per share for the quarter, topping the consensus estimate of $2.03 by $0.05. The business had revenue of $857.47 million during the quarter, compared to analysts’ expectations of $732.92 million. Extra Space Storage had a return on equity of 6.79% and a net margin of 28.84%.The business’s revenue for the quarter was up 4.3% compared to the same quarter last year. During the same period in the prior year, the business earned $2.03 EPS. Extra Space Storage has set its FY 2026 guidance at 8.050-8.350 EPS. Analysts forecast that Extra Space Storage Inc will post 8.1 earnings per share for the current year.

Extra Space Storage Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, March 31st. Stockholders of record on Monday, March 16th will be issued a $1.62 dividend. The ex-dividend date is Monday, March 16th. This represents a $6.48 dividend on an annualized basis and a dividend yield of 4.6%. Extra Space Storage’s dividend payout ratio (DPR) is currently 140.87%.

Wall Street Analyst Weigh In

Several analysts recently weighed in on the company. Bank of America lowered Extra Space Storage from a “neutral” rating to an “underperform” rating and set a $143.00 price target on the stock. in a report on Thursday, February 5th. Truist Financial lifted their price objective on shares of Extra Space Storage from $142.00 to $146.00 and gave the stock a “hold” rating in a research note on Tuesday, January 20th. Weiss Ratings reiterated a “hold (c)” rating on shares of Extra Space Storage in a research report on Thursday, January 22nd. Royal Bank Of Canada raised their target price on shares of Extra Space Storage from $142.00 to $153.00 and gave the stock a “sector perform” rating in a report on Monday, February 23rd. Finally, Wells Fargo & Company dropped their price target on shares of Extra Space Storage from $160.00 to $150.00 and set an “overweight” rating for the company in a research note on Thursday, February 5th. Five equities research analysts have rated the stock with a Buy rating, ten have given a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, Extra Space Storage currently has a consensus rating of “Hold” and an average target price of $145.13.

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.