Hsbc Holdings PLC Raises Stock Position in Extra Space Storage Inc $EXR

Hsbc Holdings PLC boosted its stake in shares of Extra Space Storage Inc (NYSE:EXR) by 4.3% in the first quarter, according to its most recent disclosure with the SEC. The firm owned 872,272 shares of the real estate investment trust’s stock after acquiring an additional 35,957 shares during the period. Hsbc Holdings PLC’s holdings in Extra Space Storage were worth $114,333,000 at the end of the most recent quarter.

Several other institutional investors have also modified their holdings of the stock. Cromwell Holdings LLC increased its stake in shares of Extra Space Storage by 14.6% during the fourth quarter. Cromwell Holdings LLC now owns 574 shares of the real estate investment trust’s stock worth $75,000 after purchasing an additional 73 shares in the last quarter. Apollon Wealth Management LLC lifted its stake in Extra Space Storage by 1.9% in the 1st quarter. Apollon Wealth Management LLC now owns 3,986 shares of the real estate investment trust’s stock valued at $523,000 after buying an additional 75 shares in the last quarter. Gilman Hill Asset Management LLC boosted its holdings in Extra Space Storage by 5.0% in the 4th quarter. Gilman Hill Asset Management LLC now owns 1,690 shares of the real estate investment trust’s stock worth $220,000 after buying an additional 80 shares during the last quarter. Brown Advisory Inc. increased its stake in Extra Space Storage by 1.8% during the 2nd quarter. Brown Advisory Inc. now owns 4,431 shares of the real estate investment trust’s stock worth $653,000 after buying an additional 80 shares in the last quarter. Finally, Manchester Capital Management LLC increased its stake in Extra Space Storage by 18.9% during the 4th quarter. Manchester Capital Management LLC now owns 540 shares of the real estate investment trust’s stock worth $70,000 after buying an additional 86 shares in the last quarter. Institutional investors and hedge funds own 99.11% of the company’s stock.

Wall Street Analyst Weigh In

EXR has been the topic of several research reports. Wells Fargo & Company raised their target price on Extra Space Storage from $148.00 to $154.00 and gave the company an “overweight” rating in a research report on Monday, June 1st. Raymond James Financial initiated coverage on Extra Space Storage in a research report on Thursday. They set an “outperform” rating and a $44.00 price target for the company. JPMorgan Chase & Co. increased their price objective on Extra Space Storage from $142.00 to $144.00 and gave the company a “neutral” rating in a research note on Monday, March 23rd. Truist Financial lifted their target price on shares of Extra Space Storage from $140.00 to $148.00 and gave the stock a “hold” rating in a research note on Wednesday, June 17th. Finally, Weiss Ratings reaffirmed a “hold (c)” rating on shares of Extra Space Storage in a report on Tuesday, April 21st. Six equities research analysts have rated the stock with a Buy rating and ten have given a Hold rating to the company. According to MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $146.27.

Extra Space Storage Trading Down 1.3%

Shares of Extra Space Storage stock opened at $148.38 on Friday. The stock has a market cap of $31.35 billion, a P/E ratio of 33.27, a P/E/G ratio of 4.59 and a beta of 1.19. The stock’s 50 day simple moving average is $145.31 and its 200-day simple moving average is $142.13. 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 current ratio of 0.37 and a quick ratio of 0.37.

Extra Space Storage (NYSE:EXR) last announced its quarterly earnings data 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 quarter in the previous year, the business posted $2.00 EPS. The business’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. Analysts predict that Extra Space Storage Inc will post 8.26 EPS for the current fiscal year.

Extra Space Storage Dividend Announcement

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

Insider Transactions at Extra Space Storage

In other Extra Space Storage news, EVP Gwyn Goodson Mcneal sold 3,300 shares of the 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 sale, the executive vice president directly owned 37,374 shares in the company, valued at $5,606,100. This represents a 8.11% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 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.