Whittier Trust Co. Buys 129 Shares of Extra Space Storage Inc $EXR

Whittier Trust Co. boosted its stake in shares of Extra Space Storage Inc (NYSE:EXR) by 6.8% during the second quarter, Holdings Channel.com reports. The fund owned 2,024 shares of the real estate investment trust’s stock after acquiring an additional 129 shares during the period. Whittier Trust Co.’s holdings in Extra Space Storage were worth $298,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently added to or reduced their stakes in EXR. Wealth Enhancement Advisory Services LLC boosted its holdings in shares of Extra Space Storage by 44.6% in the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 22,593 shares of the real estate investment trust’s stock valued at $3,355,000 after purchasing an additional 6,964 shares in the last quarter. Janney Montgomery Scott LLC boosted its holdings in shares of Extra Space Storage by 3.8% in the 1st quarter. Janney Montgomery Scott LLC now owns 5,952 shares of the real estate investment trust’s stock valued at $884,000 after purchasing an additional 219 shares in the last quarter. Oppenheimer Asset Management Inc. boosted its holdings in shares of Extra Space Storage by 99.5% during the 1st quarter. Oppenheimer Asset Management Inc. now owns 14,642 shares of the real estate investment trust’s stock valued at $2,174,000 after acquiring an additional 7,302 shares in the last quarter. Golden State Wealth Management LLC boosted its holdings in shares of Extra Space Storage by 147.0% during the 1st quarter. Golden State Wealth Management LLC now owns 405 shares of the real estate investment trust’s stock valued at $60,000 after acquiring an additional 241 shares in the last quarter. Finally, Alpine Bank Wealth Management acquired a new stake in shares of Extra Space Storage during the 1st quarter valued at $86,000. Institutional investors own 99.11% of the company’s stock.

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 stock was sold at an average price of $141.41, for a total value of $1,060,575.00. Following the transaction, the chief executive officer owned 19,760 shares in the company, valued at $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 is available at this hyperlink. 0.96% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

Several equities research analysts recently weighed in on EXR shares. Wells Fargo & Company raised Extra Space Storage from an “equal weight” rating to an “overweight” rating and set a $160.00 price objective on the stock in a report on Tuesday, August 26th. The Goldman Sachs Group reaffirmed a “neutral” rating and set a $146.00 target price (down from $169.00) on shares of Extra Space Storage in a research report on Thursday, August 21st. Citigroup lowered their target price on Extra Space Storage from $165.00 to $150.00 and set a “neutral” rating for the company in a research report on Friday, August 22nd. Barclays lowered their price objective 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. Finally, UBS Group lowered their price objective on 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. Six research analysts have rated the stock with a Buy rating, nine have assigned a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, Extra Space Storage currently has an average rating of “Hold” and a consensus price target of $148.64.

Extra Space Storage Price Performance

EXR stock opened at $150.89 on Friday. The company has a market capitalization of $32.03 billion, a P/E ratio of 32.73, a price-to-earnings-growth ratio of 2.74 and a beta of 1.11. The company has a debt-to-equity ratio of 0.88, a quick ratio of 0.29 and a current ratio of 0.29. Extra Space Storage Inc has a 52-week low of $121.03 and a 52-week high of $175.57. The business has a 50-day simple moving average of $143.42 and a two-hundred day simple moving average of $144.73.

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 (EPS) 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 company had revenue of $841.62 million for the quarter, compared to analyst estimates of $719.43 million. During the same quarter last year, the firm posted $2.06 EPS. 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. 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 announced 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 dividend on an annualized basis and a dividend yield of 4.3%. The ex-dividend date was Monday, September 15th. Extra Space Storage’s payout ratio is presently 140.56%.

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.