Parcion Private Wealth LLC Makes New $284,000 Investment in Extra Space Storage Inc $EXR

Parcion Private Wealth LLC acquired a new position in Extra Space Storage Inc (NYSE:EXR) in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor acquired 1,926 shares of the real estate investment trust’s stock, valued at approximately $284,000.

Several other institutional investors have also added to or reduced their stakes in the stock. Vanguard Group Inc. raised its holdings in Extra Space Storage by 0.9% in the 1st quarter. Vanguard Group Inc. now owns 33,969,485 shares of the real estate investment trust’s stock worth $5,044,129,000 after purchasing an additional 295,556 shares in the last quarter. JPMorgan Chase & Co. raised its holdings in Extra Space Storage by 205.7% in the 1st quarter. JPMorgan Chase & Co. now owns 4,094,555 shares of the real estate investment trust’s stock worth $608,001,000 after purchasing an additional 2,755,265 shares in the last quarter. Massachusetts Financial Services Co. MA raised its holdings in Extra Space Storage by 0.4% in the 1st quarter. Massachusetts Financial Services Co. MA now owns 3,077,577 shares of the real estate investment trust’s stock worth $456,989,000 after purchasing an additional 12,607 shares in the last quarter. Invesco Ltd. raised its holdings in Extra Space Storage by 18.7% in the 1st quarter. Invesco Ltd. now owns 3,056,384 shares of the real estate investment trust’s stock worth $453,843,000 after purchasing an additional 480,642 shares in the last quarter. Finally, Northern Trust Corp grew its position in shares of Extra Space Storage by 1.7% in the 1st quarter. Northern Trust Corp now owns 2,922,828 shares of the real estate investment trust’s stock worth $434,011,000 after buying an additional 47,779 shares during the period. 99.11% of the stock is currently owned by institutional investors.

Extra Space Storage Stock Performance

Shares of EXR stock opened at $152.20 on Thursday. Extra Space Storage Inc has a one year low of $121.03 and a one year high of $175.57. The company’s 50-day moving average is $143.13 and its 200 day moving average is $144.60. The company has a market capitalization of $32.30 billion, a price-to-earnings ratio of 33.01, a price-to-earnings-growth ratio of 2.71 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 (NYSE:EXR) last announced its quarterly earnings data on Wednesday, July 30th. The real estate investment trust reported $2.05 EPS for the quarter, missing the consensus estimate 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 firm had revenue of $841.62 million for the quarter, compared to analysts’ expectations of $719.43 million. During the same period last year, the company posted $2.06 earnings per share. The business’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 expect that Extra Space Storage Inc will post 8.1 EPS for the current fiscal year.

Extra Space Storage Dividend Announcement

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

Analysts Set New Price Targets

EXR has been the topic of a number of recent research reports. Scotiabank reduced their target price on shares of Extra Space Storage from $166.00 to $162.00 and set a “sector outperform” rating on the stock in a research report on Thursday, August 28th. Wall Street Zen raised shares of Extra Space Storage from a “sell” rating to a “hold” rating in a research report on Saturday, October 11th. Barclays reduced their target price on shares of Extra Space Storage from $178.00 to $169.00 and set an “overweight” rating on the stock in a research report on Friday, August 8th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Extra Space Storage in a research report on Wednesday, October 8th. Finally, 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 research report on Friday, August 22nd. Six analysts have rated the stock with a Buy rating, nine have assigned a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $148.64.

Insider Buying and Selling

In other Extra Space Storage news, CEO Joseph D. Margolis sold 7,500 shares of the company’s stock in a transaction dated 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 transaction, the chief executive officer owned 19,760 shares in the company, 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 Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 0.96% of the company’s stock.

About Extra Space Storage

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.