Diamond Hill Capital Management Inc. Trims Stake in Extra Space Storage Inc $EXR

Diamond Hill Capital Management Inc. cut its stake in Extra Space Storage Inc (NYSE:EXR) by 1.3% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 2,382,516 shares of the real estate investment trust’s stock after selling 30,938 shares during the quarter. Extra Space Storage makes up approximately 1.6% of Diamond Hill Capital Management Inc.’s investment portfolio, making the stock its 22nd largest position. Diamond Hill Capital Management Inc.’s holdings in Extra Space Storage were worth $310,251,000 at the end of the most recent reporting period.

Several other hedge funds have also bought and sold shares of the stock. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its stake in shares of Extra Space Storage by 900.0% during the 3rd 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 during the period. Resolution Capital Ltd lifted its stake in shares of Extra Space Storage by 116.2% in the 2nd quarter. Resolution Capital Ltd now owns 1,950,842 shares of the real estate investment trust’s stock valued at $287,632,000 after purchasing an additional 1,048,685 shares during the period. First Eagle Investment Management LLC boosted its holdings in Extra Space Storage by 61.8% during the fourth quarter. First Eagle Investment Management LLC now owns 2,552,053 shares of the real estate investment trust’s stock worth $332,328,000 after buying an additional 974,804 shares in the last quarter. Pictet Asset Management Holding SA grew its position in Extra Space Storage by 191.5% during the fourth quarter. Pictet Asset Management Holding SA now owns 1,362,422 shares of the real estate investment trust’s stock valued at $177,425,000 after buying an additional 895,013 shares during the period. Finally, Russell Investments Group Ltd. grew its position in Extra Space Storage by 85.7% during the third quarter. Russell Investments Group Ltd. now owns 1,441,444 shares of the real estate investment trust’s stock valued at $203,160,000 after buying an additional 665,204 shares during the period. Hedge funds and other institutional investors own 99.11% of the company’s stock.

Extra Space Storage Stock Performance

EXR opened at $143.93 on Friday. The firm’s fifty day simple moving average is $138.67 and its two-hundred day simple moving average is $137.96. Extra Space Storage Inc has a 52-week low of $125.71 and a 52-week high of $155.19. The company has a market cap of $30.41 billion, a price-to-earnings ratio of 32.27, a PEG ratio of 4.63 and a beta of 1.22. The company has a quick ratio of 0.37, a current ratio of 0.37 and a debt-to-equity ratio of 0.93.

Extra Space Storage (NYSE:EXR) last released its earnings results on Tuesday, April 28th. The real estate investment trust reported $1.14 EPS for the quarter, missing analysts’ consensus estimates of $2.01 by ($0.87). Extra Space Storage had a return on equity of 6.65% and a net margin of 27.66%.The company had revenue of $856.03 million for the quarter, compared to analysts’ expectations of $851.35 million. During the same period in the prior year, the firm earned $2.00 EPS. The firm’s revenue for the quarter was up 4.4% on a year-over-year basis. Extra Space Storage has set its FY 2026 guidance at 8.050-8.350 EPS. Equities analysts anticipate that Extra Space Storage Inc will post 8.23 earnings per share for the current fiscal year.

Extra Space Storage Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 30th. Shareholders of record on Monday, June 15th will be paid a dividend of $1.62 per share. This represents a $6.48 annualized dividend and a yield of 4.5%. The ex-dividend date is Monday, June 15th. Extra Space Storage’s payout ratio is 145.29%.

Insider Buying and Selling

In other Extra Space Storage news, CEO Joseph D. Margolis sold 7,500 shares of the stock in a transaction that occurred on 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 completion of the transaction, the chief executive officer owned 66,495 shares of the company’s stock, valued at $9,447,609.60. This represents a 10.14% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Company insiders own 0.96% of the company’s stock.

Wall Street Analyst Weigh In

EXR has been the subject of a number of analyst reports. Royal Bank Of Canada upped their price objective on shares of Extra Space Storage from $142.00 to $153.00 and gave the stock a “sector perform” rating in a research report on Monday, February 23rd. Truist Financial cut their price target on Extra Space Storage from $158.00 to $150.00 and set a “hold” rating for the company in a research note on Wednesday, May 6th. Scotiabank upped their price target on Extra Space Storage from $145.00 to $156.00 and gave the stock a “sector perform” rating in a report on Monday, March 2nd. Wall Street Zen downgraded Extra Space Storage from a “hold” rating to a “sell” rating in a research report on Saturday, April 25th. Finally, UBS Group raised their price objective on Extra Space Storage from $148.00 to $158.00 and gave the company a “buy” rating in a report on Monday. Five investment analysts have rated the stock with a Buy rating, nine have issued a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $151.00.

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.