144,218 Extra Space Storage Inc $EXR Shares Sold by Russell Investments Group Ltd.

Key Points

• Russell Investments cut its Extra Space Storage stake by 17.2%, selling 144,218 shares in the third quarter; it retained 695,545 shares worth about $91.5 million.
• Extra Space Storage reported quarterly EPS of $1.17, below the $2.10 consensus estimate, while revenue of $889.8 million topped estimates and grew 3.6% year over year.
• Analysts’ consensus rating was “Moderate Buy,” with an average price target of $158.31. The company also declared a quarterly dividend of $1.62 per share, equivalent to a 4.1% yield.

Russell Investments Group Ltd. lessened its stake in shares of Extra Space Storage Inc (NYSE:EXR - Free Report) by 17.2% during the 3rd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 695,545 shares of the real estate investment trust's stock after selling 144,218 shares during the period. Russell Investments Group Ltd. owned about 0.33% of Extra Space Storage worth $91,491,000 as of its most recent filing with the SEC.

Several other large investors have also recently bought and sold shares of the stock. Eurizon Capital SGR S.p.A. grew its stake in Extra Space Storage by 68.0% in the third quarter. Eurizon Capital SGR S.p.A. now owns 12,204 shares of the real estate investment trust's stock valued at $1,609,000 after purchasing an additional 4,940 shares in the last quarter. Maryland State Retirement & Pension System increased its position in shares of Extra Space Storage by 18.3% during the 3rd quarter. Maryland State Retirement & Pension System now owns 12,920 shares of the real estate investment trust's stock worth $1,699,000 after purchasing an additional 2,001 shares during the last quarter. First Command Advisory Services Inc. raised its stake in shares of Extra Space Storage by 231.3% during the 3rd quarter. First Command Advisory Services Inc. now owns 911 shares of the real estate investment trust's stock worth $120,000 after purchasing an additional 636 shares in the last quarter. Machina Capital S.A.S. raised its stake in shares of Extra Space Storage by 8.8% during the 3rd quarter. Machina Capital S.A.S. now owns 15,152 shares of the real estate investment trust's stock worth $1,993,000 after purchasing an additional 1,223 shares in the last quarter. Finally, Silver Grove Financial Group Inc. raised its stake in shares of Extra Space Storage by 14.4% during the 3rd quarter. Silver Grove Financial Group Inc. now owns 1,237 shares of the real estate investment trust's stock worth $163,000 after purchasing an additional 156 shares in the last quarter. 99.11% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several research firms recently weighed in on EXR. The Goldman Sachs Group reissued a "neutral" rating and issued a $160.00 target price (up from $152.00) on shares of Extra Space Storage in a research note on Thursday, July 30th. Wells Fargo & Company lowered their target price on shares of Extra Space Storage from $158.00 to $157.00 and set an "overweight" rating on the stock in a report on Tuesday, September 1st. Royal Bank Of Canada dropped their price target on shares of Extra Space Storage from $157.00 to $156.00 and set a "sector perform" rating on the stock in a research report on Thursday, October 29th. JPMorgan Chase & Co. dropped their price target on shares of Extra Space Storage from $157.00 to $153.00 and set a "neutral" rating on the stock in a research report on Monday, September 21st. Finally, UBS Group increased their price target on shares of Extra Space Storage from $152.00 to $174.00 and gave the company a "buy" rating in a research note on Wednesday, November 4th. Eight equities research analysts have rated the stock with a Buy rating and eight have issued a Hold rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $158.31.

Extra Space Storage Stock Performance

NYSE EXR traded up $0.39 during trading on Friday, reaching $158.59. 885,161 shares of the company's stock were exchanged, compared to its average volume of 1,403,597. The business has a 50 day moving average price of $141.71 and a 200-day moving average price of $143.11. The stock has a market capitalization of $33.10 billion, a P/E ratio of 32.23, a PEG ratio of 4.37 and a beta of 1.07. The company has a debt-to-equity ratio of 0.97, a current ratio of 0.25 and a quick ratio of 0.25. Extra Space Storage Inc has a fifty-two week low of $125.71 and a fifty-two week high of $163.18.

Extra Space Storage (NYSE:EXR - Get Free Report) last released its quarterly earnings data on Tuesday, October 27th. The real estate investment trust reported $1.17 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.10 by ($0.93). Extra Space Storage had a net margin of 29.90% and a return on equity of 7.36%. The business had revenue of $889.79 million during the quarter, compared to the consensus estimate of $886.61 million. During the same quarter in the prior year, the company earned $2.08 EPS. Extra Space Storage's quarterly revenue was up 3.6% on a year-over-year basis. Sell-side analysts forecast that Extra Space Storage Inc will post 8.46 earnings per share for the current fiscal year.

Extra Space Storage Announces Dividend

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

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