Extra Space Storage Inc $EXR Shares Sold by Russell Investments Group Ltd.

Russell Investments Group Ltd. lessened its stake in shares of Extra Space Storage Inc (NYSE:EXR) by 17.2% in the third quarter, according to the company in its most recent filing with the SEC. The fund owned 695,545 shares of the real estate investment trust’s stock after selling 144,218 shares during the quarter. Russell Investments Group Ltd.’s holdings in Extra Space Storage were worth $91,491,000 as of its most recent SEC filing.

A number of other hedge funds also recently modified their holdings of EXR. Northwestern Mutual Wealth Management Co. grew its stake in Extra Space Storage by 4.2% in the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 1,960 shares of the real estate investment trust’s stock valued at $285,000 after buying an additional 79 shares during the last quarter. Raiffeisen Bank International AG raised its holdings in Extra Space Storage by 82.4% in the 2nd quarter. Raiffeisen Bank International AG now owns 186 shares of the real estate investment trust’s stock valued at $28,000 after acquiring an additional 84 shares during the period. Angeles Wealth Management LLC lifted its position in Extra Space Storage by 3.2% during the first quarter. Angeles Wealth Management LLC now owns 2,794 shares of the real estate investment trust’s stock worth $366,000 after acquiring an additional 87 shares during the last quarter. IRON Financial LLC lifted its position in Extra Space Storage by 5.7% during the third quarter. IRON Financial LLC now owns 1,731 shares of the real estate investment trust’s stock worth $228,000 after acquiring an additional 94 shares during the last quarter. Finally, Van Hulzen Asset Management LLC lifted its position in Extra Space Storage by 2.8% during the second quarter. Van Hulzen Asset Management LLC now owns 3,630 shares of the real estate investment trust’s stock worth $527,000 after acquiring an additional 100 shares during the last quarter. Institutional investors and hedge funds own 99.11% of the company’s stock.

Analyst Ratings Changes

A number of brokerages have recently issued reports on EXR. Evercore boosted their price objective on Extra Space Storage from $142.00 to $146.00 in a report on Wednesday, October 28th. JPMorgan Chase & Co. lowered their target price on Extra Space Storage from $157.00 to $153.00 and set a “neutral” rating on the stock in a research note on Monday, September 21st. BMO Capital Markets raised Extra Space Storage from a “market perform” rating to an “outperform” rating and lifted their price target for the stock from $160.00 to $170.00 in a report on Thursday, August 27th. Scotiabank lifted their price target on Extra Space Storage from $157.00 to $158.00 and gave the stock a “sector perform” rating in a report on Tuesday, August 18th. Finally, Truist Financial boosted their price target on Extra Space Storage from $147.00 to $172.00 and gave the company a “buy” rating in a research note on Thursday. Eight analysts have rated the stock with a Buy rating and eight have given a Hold rating to the stock. According to data from MarketBeat, Extra Space Storage presently has a consensus rating of “Moderate Buy” and an average target price of $158.31.

Extra Space Storage Stock Performance

Shares of EXR stock traded up $0.39 on Friday, hitting $158.59. The company’s stock had a trading volume of 885,161 shares, compared to its average volume of 1,403,597. The company has a debt-to-equity ratio of 0.97, a quick ratio of 0.25 and a current ratio of 0.25. The stock’s 50 day moving average is $141.71 and its 200-day moving average is $143.11. Extra Space Storage Inc has a fifty-two week low of $125.71 and a fifty-two week high of $163.18. The company has a market capitalization of $33.10 billion, a PE ratio of 32.23, a PEG ratio of 4.37 and a beta of 1.07.

Extra Space Storage (NYSE:EXR) last released its quarterly earnings results on Tuesday, October 27th. The real estate investment trust reported $1.17 EPS for the quarter, missing analysts’ consensus estimates of $2.10 by ($0.93). Extra Space Storage had a return on equity of 7.36% and a net margin of 29.90%. The business had revenue of $889.79 million for the quarter, compared to the consensus estimate of $886.61 million. During the same period in the prior year, the business posted $2.08 earnings per share. Extra Space Storage’s revenue was up 3.6% compared to the same quarter last year. Equities research analysts expect that Extra Space Storage Inc will post 8.46 earnings per share for the current fiscal year.

Extra Space Storage Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, December 31st. Shareholders of record on Tuesday, December 15th will be given a dividend of $1.62 per share. This represents a $6.48 dividend on an annualized basis and a dividend yield of 4.1%. The ex-dividend date is Tuesday, December 15th. Extra Space Storage’s dividend payout ratio is presently 131.71%.

Extra Space Storage Profile

Extra Space Storage Inc. is a real estate investment trust (REIT) focused on self-storage. The company owns and operates facilities that rent storage units to individuals and businesses for personal and commercial use. In addition to operating its own properties, Extra Space manages self-storage facilities for third-party owners and offers related services, including tenant insurance. Its facilities serve customers across the United States. Founded in 1977 and headquartered in Salt Lake City, Utah, Extra Space expanded its national platform through acquisitions, including its 2023 merger with Life Storage.