Capital Analysts LLC Increases Position in Extra Space Storage Inc $EXR

Capital Analysts LLC lifted its position in Extra Space Storage Inc (NYSE:EXR) by 359.1% during the 1st quarter, Holdings Channel.com reports. The fund owned 1,708 shares of the real estate investment trust’s stock after acquiring an additional 1,336 shares during the period. Capital Analysts LLC’s holdings in Extra Space Storage were worth $254,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in EXR. JPMorgan Chase & Co. raised its stake in Extra Space Storage by 205.7% in the 1st quarter. JPMorgan Chase & Co. now owns 4,094,555 shares of the real estate investment trust’s stock worth $608,001,000 after acquiring an additional 2,755,265 shares during the last quarter. Nuveen LLC purchased a new position in Extra Space Storage in the 1st quarter worth $257,917,000. Northern Trust Corp raised its stake in Extra Space Storage by 48.7% in the 4th quarter. Northern Trust Corp now owns 2,875,049 shares of the real estate investment trust’s stock worth $430,107,000 after acquiring an additional 941,212 shares during the last quarter. Balyasny Asset Management L.P. purchased a new position in Extra Space Storage in the 4th quarter worth $107,453,000. Finally, Universal Beteiligungs und Servicegesellschaft mbH purchased a new position in Extra Space Storage in the 4th quarter worth $74,984,000. Hedge funds and other institutional investors own 99.11% of the company’s stock.

Insiders Place Their Bets

In other Extra Space Storage news, CEO Joseph D. Margolis sold 7,500 shares of Extra Space Storage stock in a transaction on Tuesday, July 1st. The shares were sold at an average price of $150.35, for a total value of $1,127,625.00. Following the completion of the transaction, the chief executive officer owned 27,260 shares of the company’s stock, valued at approximately $4,098,541. The trade was a 21.58% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Insiders own 0.96% of the company’s stock.

Extra Space Storage Stock Up 2.6%

EXR opened at $142.6740 on Friday. Extra Space Storage Inc has a fifty-two week low of $121.03 and a fifty-two week high of $184.87. The company has a debt-to-equity ratio of 0.88, a quick ratio of 0.29 and a current ratio of 0.29. The company has a fifty day moving average of $145.21 and a two-hundred day moving average of $146.84. The stock has a market capitalization of $30.28 billion, a price-to-earnings ratio of 30.95, a PEG ratio of 3.37 and a beta of 1.07.

Extra Space Storage (NYSE:EXR) last released its quarterly earnings data on Wednesday, July 30th. The real estate investment trust reported $2.05 earnings per share for the quarter, missing analysts’ consensus estimates of $2.06 by ($0.01). Extra Space Storage had a net margin of 29.51% and a return on equity of 6.69%. The firm had revenue of $841.62 million during the quarter, compared to analysts’ expectations of $719.43 million. During the same period in the previous year, the firm posted $2.06 EPS. The firm’s quarterly revenue was up 3.8% on a year-over-year basis. Extra Space Storage has set its FY 2025 guidance at 8.050-8.25 EPS. On average, research analysts expect that Extra Space Storage Inc will post 8.1 earnings per share for the current year.

Extra Space Storage Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 30th. Shareholders of record on Monday, September 15th will be issued a $1.62 dividend. The ex-dividend date of this dividend is Monday, September 15th. This represents a $6.48 dividend on an annualized basis and a yield of 4.5%. Extra Space Storage’s payout ratio is presently 140.56%.

Wall Street Analyst Weigh In

A number of equities analysts recently issued reports on EXR shares. Wells Fargo & Company reduced their target price on Extra Space Storage from $165.00 to $160.00 and set an “equal weight” rating for the company in a research note on Wednesday, July 23rd. The Goldman Sachs Group reissued a “neutral” rating and set a $146.00 target price (down previously from $169.00) on shares of Extra Space Storage in a report on Thursday. Benchmark reduced their target price on shares of Extra Space Storage from $61.00 to $55.00 and set a “buy” rating for the company in a report on Tuesday, May 13th. Barclays reduced their target price on shares of Extra Space Storage from $178.00 to $169.00 and set an “overweight” rating for the company in a report on Friday, August 8th. Finally, Wall Street Zen cut shares of Extra Space Storage from a “hold” rating to a “sell” rating in a report on Saturday, August 16th. Six analysts have rated the stock with a Buy rating and ten have given a Hold rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $153.60.

Extra Space Storage Company Profile

Extra Space Storage Inc, headquartered in Salt Lake City, Utah, is a self-administered and self-managed REIT and a member of the S&P 500. As of December 31, 2023, the Company owned and/or operated 3,714 self-storage stores in 42 states and Washington, DC The Company's stores comprise approximately 2.6 million units and approximately 283.0 million square feet of rentable space operating under the Extra Space, Life Storage and Storage Express brands.