DekaBank Deutsche Girozentrale Boosts Holdings in Extra Space Storage Inc $EXR

DekaBank Deutsche Girozentrale raised its stake in shares of Extra Space Storage Inc (NYSE:EXR) by 0.8% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 114,837 shares of the real estate investment trust’s stock after purchasing an additional 862 shares during the period. DekaBank Deutsche Girozentrale owned 0.05% of Extra Space Storage worth $16,757,000 at the end of the most recent quarter.

A number of other hedge funds have also modified their holdings of the business. FARMERS & MERCHANTS TRUST Co OF LONG BEACH raised its position in shares of Extra Space Storage by 4.6% in the second quarter. FARMERS & MERCHANTS TRUST Co OF LONG BEACH now owns 1,825 shares of the real estate investment trust’s stock valued at $269,000 after buying an additional 80 shares during the last quarter. Naviter Wealth LLC raised its position in shares of Extra Space Storage by 0.6% in the first quarter. Naviter Wealth LLC now owns 13,645 shares of the real estate investment trust’s stock valued at $2,007,000 after buying an additional 82 shares during the last quarter. Taylor Frigon Capital Management LLC raised its position in shares of Extra Space Storage by 0.8% in the first quarter. Taylor Frigon Capital Management LLC now owns 12,248 shares of the real estate investment trust’s stock valued at $1,819,000 after buying an additional 93 shares during the last quarter. Farther Finance Advisors LLC raised its position in shares of Extra Space Storage by 6.5% in the second quarter. Farther Finance Advisors LLC now owns 1,559 shares of the real estate investment trust’s stock valued at $230,000 after buying an additional 95 shares during the last quarter. Finally, Mather Group LLC. raised its position in shares of Extra Space Storage by 3.0% in the first quarter. Mather Group LLC. now owns 3,594 shares of the real estate investment trust’s stock valued at $534,000 after buying an additional 105 shares during the last quarter. 99.11% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of brokerages have recently commented on EXR. Truist Financial reduced their target price on shares of 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. Scotiabank reduced their target price on shares of Extra Space Storage from $166.00 to $162.00 and set a “sector outperform” rating for the company in a research report on Thursday, August 28th. 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 research report on Tuesday, August 26th. The Goldman Sachs Group restated a “neutral” rating and set a $146.00 price objective (down from $169.00) on shares of Extra Space Storage in a research report on Thursday, August 21st. Finally, Wall Street Zen upgraded shares of Extra Space Storage from a “sell” rating to a “hold” rating in a research report on Saturday, October 11th. Six investment analysts have rated the stock with a Buy rating, nine have issued a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $148.64.

Extra Space Storage Stock Up 1.1%

Shares of Extra Space Storage stock opened at $152.20 on Thursday. Extra Space Storage Inc has a 52-week low of $121.03 and a 52-week high of $175.57. The company has a 50 day moving average of $143.13 and a 200 day moving average of $144.60. The company has a quick ratio of 0.29, a current ratio of 0.29 and a debt-to-equity ratio of 0.88. The company has a market capitalization of $32.30 billion, a P/E ratio of 33.01, a P/E/G ratio of 2.71 and a beta of 1.11.

Extra Space Storage (NYSE:EXR) last issued its quarterly earnings results on Wednesday, July 30th. The real estate investment trust reported $2.05 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.06 by ($0.01). Extra Space Storage had a return on equity of 6.69% and a net margin of 29.51%.The firm had revenue of $841.62 million during the quarter, compared to analysts’ expectations of $719.43 million. During the same quarter in the prior year, the firm earned $2.06 EPS. The firm’s revenue was up 3.8% compared to the same quarter last year. Extra Space Storage has set its FY 2025 guidance at 8.050-8.25 EPS. As a group, research analysts forecast 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 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 was Monday, September 15th. Extra Space Storage’s payout ratio is currently 140.56%.

Insider Buying and Selling at Extra Space Storage

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

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.