Extra Space Storage Inc $EXR Shares Bought by Bank of Nova Scotia

Bank of Nova Scotia raised its stake in Extra Space Storage Inc (NYSE:EXR) by 32.8% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 64,944 shares of the real estate investment trust’s stock after acquiring an additional 16,026 shares during the quarter. Bank of Nova Scotia’s holdings in Extra Space Storage were worth $8,516,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of the business. Cetera Investment Advisers grew its stake in Extra Space Storage by 16.6% in the 1st quarter. Cetera Investment Advisers now owns 35,830 shares of the real estate investment trust’s stock valued at $4,698,000 after acquiring an additional 5,110 shares during the period. Prestige Wealth Management Group LLC raised its holdings in shares of Extra Space Storage by 4,335.6% during the 1st quarter. Prestige Wealth Management Group LLC now owns 2,617 shares of the real estate investment trust’s stock worth $343,000 after acquiring an additional 2,558 shares during the period. Oslo Pensjonsforsikring AS acquired a new position in Extra Space Storage in the 1st quarter valued at about $193,000. Andra AP fonden lifted its stake in shares of Extra Space Storage by 40.2% in the 1st quarter. Andra AP fonden now owns 44,874 shares of the real estate investment trust’s stock valued at $5,884,000 after purchasing an additional 12,874 shares during the last quarter. Finally, Cassaday & Co Wealth Management LLC acquired a new position in Extra Space Storage in the first quarter valued at about $30,000. 99.11% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of analysts have issued reports on the stock. Barclays boosted their price target on shares of Extra Space Storage from $170.00 to $172.00 and gave the stock an “overweight” rating in a research note on Friday, July 10th. Wall Street Zen raised Extra Space Storage from a “sell” rating to a “hold” rating in a research report on Saturday, July 18th. UBS Group boosted their price target on Extra Space Storage from $158.00 to $163.00 and gave the company a “buy” rating in a research report on Friday, July 10th. Bank of America upgraded shares of Extra Space Storage from an “underperform” rating to a “neutral” rating and lifted their price objective for the company from $147.00 to $156.00 in a research report on Tuesday, June 16th. Finally, Wells Fargo & Company increased their target price on Extra Space Storage from $154.00 to $158.00 and gave the stock an “overweight” rating in a research note on Friday. Six investment analysts have rated the stock with a Buy rating and ten have given a Hold rating to the company’s stock. According to data from MarketBeat, Extra Space Storage currently has an average rating of “Hold” and an average target price of $146.53.

Extra Space Storage Stock Performance

Shares of EXR opened at $147.77 on Monday. The company has a market capitalization of $31.22 billion, a price-to-earnings ratio of 33.13, a PEG ratio of 4.57 and a beta of 1.19. The company’s 50 day simple moving average is $145.72 and its 200 day simple moving average is $142.75. Extra Space Storage Inc has a 1 year low of $125.71 and a 1 year high of $155.19. The company has a debt-to-equity ratio of 0.93, a quick ratio of 0.37 and a current ratio of 0.37.

Extra Space Storage (NYSE:EXR) last posted its quarterly earnings results on Tuesday, April 28th. The real estate investment trust reported $1.14 EPS for the quarter, missing the consensus estimate of $2.01 by ($0.87). Extra Space Storage had a net margin of 27.66% and a return on equity of 6.65%. The business had revenue of $856.03 million during the quarter, compared to analysts’ expectations of $851.35 million. During the same quarter last year, the firm earned $2.00 EPS. The firm’s quarterly revenue was up 4.4% compared to the same quarter last year. Extra Space Storage has set its FY 2026 guidance at 8.050-8.350 EPS. On average, sell-side analysts predict that Extra Space Storage Inc will post 8.26 EPS for the current year.

Extra Space Storage Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, June 30th. Shareholders of record on Monday, June 15th were paid a dividend of $1.62 per share. The ex-dividend date was Monday, June 15th. This represents a $6.48 annualized dividend and a yield of 4.4%. Extra Space Storage’s dividend payout ratio is currently 145.29%.

Insider Activity

In other news, EVP Gwyn Goodson Mcneal sold 3,300 shares of the business’s 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 completion of the sale, the executive vice president owned 37,374 shares in the company, valued at approximately $5,606,100. The trade was 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. Insiders own 0.96% of the company’s stock.

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.