Extra Space Storage Inc $EXR Shares Purchased by Naviter Wealth LLC

Naviter Wealth LLC boosted its holdings in shares of Extra Space Storage Inc (NYSE:EXR) by 10.4% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 15,070 shares of the real estate investment trust’s stock after acquiring an additional 1,425 shares during the period. Naviter Wealth LLC’s holdings in Extra Space Storage were worth $2,222,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of EXR. Exchange Traded Concepts LLC lifted its stake in Extra Space Storage by 8.5% in the 1st quarter. Exchange Traded Concepts LLC now owns 934 shares of the real estate investment trust’s stock valued at $139,000 after buying an additional 73 shares in the last quarter. FARMERS & MERCHANTS TRUST Co OF LONG BEACH raised its holdings 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 worth $269,000 after acquiring an additional 80 shares during the last quarter. Taylor Frigon Capital Management LLC lifted 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 acquiring an additional 93 shares in the last quarter. Farther Finance Advisors LLC boosted its stake in shares of Extra Space Storage by 6.5% during 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 acquiring an additional 95 shares during the last quarter. Finally, Mather Group LLC. increased its position in Extra Space Storage by 3.0% during the 1st quarter. Mather Group LLC. now owns 3,594 shares of the real estate investment trust’s stock worth $534,000 after purchasing an additional 105 shares in the last quarter. 99.11% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of research analysts have issued reports on the stock. Citigroup reduced their target price on shares of Extra Space Storage from $165.00 to $150.00 and set a “neutral” rating on the stock in a report on Friday, August 22nd. UBS Group cut their price objective 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. Wall Street Zen upgraded shares of Extra Space Storage from a “sell” rating to a “hold” rating in a research report on Saturday. BNP Paribas raised shares of Extra Space Storage to a “hold” rating in a research note on Tuesday, June 24th. Finally, Scotiabank reduced their price target on Extra Space Storage from $166.00 to $162.00 and set a “sector outperform” rating on the stock in a research note on Thursday, August 28th. Six equities research analysts have rated the stock with a Buy rating, nine have given a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, Extra Space Storage presently has a consensus rating of “Hold” and a consensus target price of $148.64.

Insider Buying and Selling

In other news, CEO Joseph D. Margolis sold 7,500 shares of the firm’s stock in a transaction dated 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 directly owned 19,760 shares in the company, 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 SEC, which is available through this hyperlink. 1.36% of the stock is owned by corporate insiders.

Extra Space Storage Price Performance

Extra Space Storage stock opened at $145.09 on Tuesday. Extra Space Storage Inc has a 1 year low of $121.03 and a 1 year high of $175.57. The company has a debt-to-equity ratio of 0.88, a quick ratio of 0.29 and a current ratio of 0.29. The firm has a 50 day moving average price of $141.24 and a 200 day moving average price of $144.33. The company has a market cap of $30.80 billion, a price-to-earnings ratio of 31.47, a PEG ratio of 3.44 and a beta of 1.11.

Extra Space Storage (NYSE:EXR) last announced its quarterly earnings results on Wednesday, July 30th. The real estate investment trust reported $2.05 earnings per share 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 during the quarter, compared to analyst estimates of $719.43 million. During the same quarter last year, the business earned $2.06 EPS. The firm’s revenue for the quarter 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. Sell-side analysts predict that Extra Space Storage Inc will post 8.1 earnings per share for the current year.

Extra Space Storage Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, September 30th. Shareholders of record on Monday, September 15th were paid a dividend of $1.62 per share. The ex-dividend date was Monday, September 15th. This represents a $6.48 annualized dividend and a yield of 4.5%. Extra Space Storage’s dividend payout ratio is currently 140.56%.

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.