BROOKFIELD Corp ON Reduces Position in Extra Space Storage Inc $EXR

BROOKFIELD Corp ON cut its holdings in shares of Extra Space Storage Inc (NYSE:EXR) by 3.8% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 191,136 shares of the real estate investment trust’s stock after selling 7,471 shares during the period. BROOKFIELD Corp ON’s holdings in Extra Space Storage were worth $28,382,000 at the end of the most recent reporting period.

Several other institutional investors also recently modified their holdings of EXR. Baird Financial Group Inc. boosted its position in shares of Extra Space Storage by 96.8% during the fourth quarter. Baird Financial Group Inc. now owns 1,999 shares of the real estate investment trust’s stock valued at $299,000 after buying an additional 983 shares during the last quarter. Lazard Asset Management LLC increased its position in Extra Space Storage by 1,710.8% during the fourth quarter. Lazard Asset Management LLC now owns 2,010 shares of the real estate investment trust’s stock valued at $300,000 after acquiring an additional 1,899 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its position in Extra Space Storage by 4.6% during the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 21,137 shares of the real estate investment trust’s stock valued at $3,162,000 after acquiring an additional 933 shares during the last quarter. OMERS ADMINISTRATION Corp increased its position in Extra Space Storage by 20.3% during the fourth quarter. OMERS ADMINISTRATION Corp now owns 8,852 shares of the real estate investment trust’s stock valued at $1,324,000 after acquiring an additional 1,493 shares during the last quarter. Finally, NorthRock Partners LLC purchased a new stake in Extra Space Storage during the fourth quarter valued at $276,000. 99.11% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Extra Space Storage

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

Extra Space Storage Price Performance

NYSE EXR opened at $148.46 on Friday. The company has a market capitalization of $31.51 billion, a PE ratio of 32.20, a price-to-earnings-growth ratio of 3.51 and a beta of 1.09. 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 business’s fifty day moving average is $144.00 and its 200 day moving average is $145.68. Extra Space Storage Inc has a fifty-two week low of $121.03 and a fifty-two week high of $184.87.

Extra Space Storage (NYSE:EXR) last released its earnings results on Wednesday, July 30th. The real estate investment trust reported $2.05 earnings per share for the quarter, missing the consensus estimate 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 company had revenue of $841.62 million for the quarter, compared to analysts’ expectations of $719.43 million. During the same quarter last year, the firm posted $2.06 earnings per share. Extra Space Storage’s revenue for the quarter 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. Sell-side analysts predict that Extra Space Storage Inc will post 8.1 earnings per share for the current year.

Extra Space Storage Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, September 30th. Shareholders of record on Monday, September 15th will be paid a $1.62 dividend. This represents a $6.48 dividend on an annualized basis and a yield of 4.4%. The ex-dividend date is Monday, September 15th. Extra Space Storage’s dividend payout ratio is presently 140.56%.

Analyst Ratings Changes

A number of analysts recently commented on the company. The Goldman Sachs Group reiterated a “neutral” rating and set a $146.00 price objective (down previously from $169.00) on shares of Extra Space Storage in a research report on Thursday, August 21st. Mizuho upped their price objective on Extra Space Storage from $141.00 to $153.00 and gave the company an “outperform” rating in a research report on Wednesday, May 28th. JPMorgan Chase & Co. upped their price objective on Extra Space Storage from $160.00 to $162.00 and gave the company a “neutral” rating in a research report on Friday, June 13th. Truist Financial reduced their price objective on Extra Space Storage from $158.00 to $150.00 and set a “hold” rating for the company in a research report on Tuesday, August 19th. Finally, BNP Paribas Exane began coverage on Extra Space Storage in a research report on Tuesday, June 24th. They set a “neutral” rating and a $156.00 target price on the stock. Six investment analysts have rated the stock with a Buy rating and nine have assigned a Hold rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $151.57.

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.