Aberdeen Group plc Raises Stock Holdings in Extra Space Storage Inc $EXR

Aberdeen Group plc grew its stake in Extra Space Storage Inc (NYSE:EXR) by 6.7% in the second quarter, HoldingsChannel.com reports. The institutional investor owned 230,350 shares of the real estate investment trust’s stock after buying an additional 14,368 shares during the period. Aberdeen Group plc’s holdings in Extra Space Storage were worth $33,526,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also bought and sold shares of the company. GKV Capital Management Co. Inc. purchased a new stake in Extra Space Storage in the first quarter worth about $29,000. Chung Wu Investment Group LLC purchased a new stake in Extra Space Storage in the second quarter worth about $29,000. Zions Bancorporation National Association UT purchased a new stake in Extra Space Storage in the first quarter worth about $50,000. Golden State Wealth Management LLC increased its position in Extra Space Storage by 147.0% in the first quarter. Golden State Wealth Management LLC now owns 405 shares of the real estate investment trust’s stock worth $60,000 after buying an additional 241 shares in the last quarter. Finally, Ameritas Advisory Services LLC purchased a new stake in Extra Space Storage in the second quarter worth about $75,000. Hedge funds and other institutional investors own 99.11% of the company’s stock.

Wall Street Analyst Weigh In

EXR has been the subject of a number of analyst reports. Wall Street Zen upgraded Extra Space Storage from a “sell” rating to a “hold” rating in a research report on Saturday. The Goldman Sachs Group reiterated a “neutral” rating and set a $146.00 target price (down previously from $169.00) on shares of Extra Space Storage in a research report on Thursday, August 21st. Royal Bank Of Canada cut their target price on Extra Space Storage from $160.00 to $148.00 and set a “sector perform” rating for the company in a research report on Monday, August 4th. Truist Financial cut their target price 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, Barclays cut their target price on Extra Space Storage from $178.00 to $169.00 and set an “overweight” rating for the company in a research report on Friday, August 8th. Six investment analysts have rated the stock with a Buy rating, nine have given a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, Extra Space Storage has a consensus rating of “Hold” and a consensus target price of $148.64.

Insider Activity

In other news, CEO Joseph D. Margolis sold 7,500 shares of the firm’s stock in a transaction that occurred on Wednesday, October 1st. The stock was sold at an average price of $141.41, for a total value of $1,060,575.00. Following the completion of the sale, the chief executive officer directly owned 19,760 shares of the company’s stock, valued at $2,794,261.60. This trade represents a 27.51% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 1.36% of the stock is owned by insiders.

Extra Space Storage Stock Performance

NYSE EXR opened at $141.98 on Monday. The stock has a market capitalization of $30.14 billion, a PE ratio of 30.80, a P/E/G ratio of 3.44 and a beta of 1.11. The business has a 50 day simple moving average of $141.10 and a two-hundred day simple moving average of $144.33. The company has a debt-to-equity ratio of 0.88, a current ratio of 0.29 and a quick ratio of 0.29. Extra Space Storage Inc has a 1-year low of $121.03 and a 1-year high of $175.57.

Extra Space Storage (NYSE:EXR) last released its quarterly 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). The firm had revenue of $841.62 million for the quarter, compared to analysts’ expectations of $719.43 million. Extra Space Storage had a net margin of 29.51% and a return on equity of 6.69%. The business’s quarterly revenue was up 3.8% compared to the same quarter last year. During the same quarter in the prior year, the business earned $2.06 EPS. Extra Space Storage has set its FY 2025 guidance at 8.050-8.25 EPS. On average, research analysts predict that Extra Space Storage Inc will post 8.1 EPS for the current fiscal year.

Extra Space Storage Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, September 30th. Stockholders of record on Monday, September 15th were paid a $1.62 dividend. This represents a $6.48 annualized dividend and a dividend yield of 4.6%. The ex-dividend date of this dividend was Monday, September 15th. Extra Space Storage’s dividend payout ratio (DPR) is presently 140.56%.

About Extra Space Storage

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.