Journey Strategic Wealth LLC Makes New Investment in Extra Space Storage Inc $EXR

Journey Strategic Wealth LLC acquired a new stake in Extra Space Storage Inc (NYSE:EXR) in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm acquired 1,599 shares of the real estate investment trust’s stock, valued at approximately $236,000.

A number of other large investors have also recently bought and sold shares of EXR. GKV Capital Management Co. Inc. bought a new position in Extra Space Storage in the first quarter valued at approximately $29,000. Chung Wu Investment Group LLC bought a new stake in shares of Extra Space Storage during the 2nd quarter valued at approximately $29,000. MTM Investment Management LLC bought a new stake in shares of Extra Space Storage during the 2nd quarter valued at approximately $38,000. Zions Bancorporation National Association UT acquired a new position in Extra Space Storage during the 1st quarter worth approximately $50,000. Finally, Ameritas Advisory Services LLC bought a new position in Extra Space Storage in the 2nd quarter valued at approximately $75,000. 99.11% of the stock is currently owned by institutional investors and hedge funds.

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 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 of the company’s stock, valued at $2,794,261.60. The trade was a 27.51% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Company insiders own 0.96% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts have weighed in on EXR shares. Royal Bank Of Canada cut their target price on shares of Extra Space Storage from $148.00 to $146.00 and set a “sector perform” rating on the stock in a research report on Friday, November 7th. Truist Financial dropped their price target on Extra Space Storage from $158.00 to $150.00 and set a “hold” rating for the company in a research note on Tuesday, August 19th. The Goldman Sachs Group restated a “neutral” rating and set a $146.00 price objective (down previously from $169.00) on shares of Extra Space Storage in a research report on Thursday, August 21st. Wall Street Zen cut Extra Space Storage from a “hold” rating to a “sell” rating in a report on Saturday, November 1st. Finally, Evercore ISI reissued a “cautious” rating on shares of Extra Space Storage in a research note on Monday, November 3rd. Six analysts have rated the stock with a Buy rating and ten have issued a Hold rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $148.36.

Extra Space Storage Price Performance

Extra Space Storage stock opened at $130.32 on Tuesday. The stock’s 50 day moving average is $139.86 and its 200 day moving average is $143.92. Extra Space Storage Inc has a one year low of $121.03 and a one year high of $175.57. The firm has a market cap of $27.66 billion, a P/E ratio of 29.09, a P/E/G ratio of 2.56 and a beta of 1.14. The company has a debt-to-equity ratio of 0.88, a current ratio of 0.29 and a quick ratio of 0.29.

Extra Space Storage (NYSE:EXR) last posted its quarterly earnings data on Wednesday, October 29th. The real estate investment trust reported $2.08 EPS for the quarter, beating analysts’ consensus estimates of $2.06 by $0.02. Extra Space Storage had a net margin of 28.40% and a return on equity of 6.53%. The company had revenue of $858.46 million for the quarter, compared to analyst estimates of $736.26 million. During the same period in the prior year, the firm posted $2.07 EPS. The company’s quarterly revenue was up 4.1% on a year-over-year basis. Extra Space Storage has set its FY 2025 guidance at 8.120-8.20 EPS. As a group, research analysts expect that Extra Space Storage Inc will post 8.1 EPS for the current year.

Extra Space Storage Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, December 31st. Shareholders of record on Monday, December 15th will be issued a dividend of $1.62 per share. This represents a $6.48 dividend on an annualized basis and a yield of 5.0%. The ex-dividend date is Monday, December 15th. Extra Space Storage’s dividend payout ratio (DPR) is presently 144.64%.

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.