Chicago Partners Investment Group LLC Acquires Shares of 3,414 Extra Space Storage Inc $EXR

Chicago Partners Investment Group LLC acquired a new stake in Extra Space Storage Inc (NYSE:EXR) in the second quarter, HoldingsChannel.com reports. The fund acquired 3,414 shares of the real estate investment trust’s stock, valued at approximately $516,000.

Other hedge funds also recently bought and sold shares of the company. D.A. Davidson & CO. increased its holdings in shares of Extra Space Storage by 7.2% in the first quarter. D.A. Davidson & CO. now owns 1,895 shares of the real estate investment trust’s stock valued at $281,000 after purchasing an additional 127 shares during the last quarter. Allspring Global Investments Holdings LLC increased its position in Extra Space Storage by 1.8% during the first quarter. Allspring Global Investments Holdings LLC now owns 22,222 shares of the real estate investment trust’s stock worth $3,285,000 after purchasing an additional 398 shares during the last quarter. IFP Advisors Inc increased its position in Extra Space Storage by 1,376.5% during the first quarter. IFP Advisors Inc now owns 1,698 shares of the real estate investment trust’s stock worth $252,000 after purchasing an additional 1,583 shares during the last quarter. Wealth Enhancement Advisory Services LLC increased its holdings in shares of Extra Space Storage by 44.6% during the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 22,593 shares of the real estate investment trust’s stock worth $3,355,000 after buying an additional 6,964 shares during the last quarter. Finally, Y Intercept Hong Kong Ltd acquired a new stake in shares of Extra Space Storage during the 1st quarter worth approximately $1,472,000. Institutional investors and hedge funds own 99.11% of the company’s stock.

Extra Space Storage Trading Up 1.1%

NYSE EXR opened at $152.20 on Thursday. The company has a quick ratio of 0.29, a current ratio of 0.29 and a debt-to-equity ratio of 0.88. Extra Space Storage Inc has a 52 week low of $121.03 and a 52 week high of $175.57. The stock has a market capitalization of $32.30 billion, a PE ratio of 33.01, a price-to-earnings-growth ratio of 2.71 and a beta of 1.11. The firm has a 50 day moving average of $143.13 and a two-hundred day moving average of $144.60.

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

Extra Space Storage Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, September 30th. Stockholders of record on Monday, September 15th were given a dividend of $1.62 per share. This represents a $6.48 annualized dividend and a dividend yield of 4.3%. The ex-dividend date of this dividend was Monday, September 15th. Extra Space Storage’s dividend payout ratio is currently 140.56%.

Analysts Set New Price Targets

Several equities research analysts have issued reports on the company. Evercore ISI raised their target price on Extra Space Storage from $147.00 to $149.00 and gave the stock a “cautious” rating in a research note on Friday, October 3rd. UBS Group dropped their price target on shares of Extra Space Storage from $169.00 to $160.00 and set a “buy” rating for the company in a research report on Tuesday, September 16th. Weiss Ratings reiterated a “hold (c)” rating on shares of Extra Space Storage in a research report on Wednesday, October 8th. The Goldman Sachs Group reiterated a “neutral” rating and issued a $146.00 target price (down previously from $169.00) on shares of Extra Space Storage in a report on Thursday, August 21st. Finally, Wells Fargo & Company upgraded shares of Extra Space Storage from an “equal weight” rating to an “overweight” rating and set a $160.00 target price for the company in a report on Tuesday, August 26th. Six research 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. According to MarketBeat, Extra Space Storage has an average rating of “Hold” and an average price target of $148.64.

Insider Activity

In other news, CEO Joseph D. Margolis sold 7,500 shares of the company’s stock in a transaction dated Wednesday, October 1st. The stock was sold at an average price of $141.41, for a total transaction of $1,060,575.00. Following the completion of the transaction, the chief executive officer directly owned 19,760 shares of the company’s stock, valued at approximately $2,794,261.60. This represents a 27.51% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Corporate insiders own 0.96% of the company’s stock.

Extra Space Storage 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.