FORA Capital LLC Buys Shares of 1,822 Extra Space Storage Inc $EXR

Key Points

• FORA Capital LLC acquired 1,822 shares of Extra Space Storage Inc, valued at approximately $271,000, marking a new investment in the real estate investment trust.
• Extra Space Storage recently reported a quarterly earnings EPS of $2.05, slightly missing the consensus estimate, while its revenue of $841.62 million surpassed expectations.
• The company declared a quarterly dividend of $1.62, with a current yield of 4.5% and a payout ratio of 140.56%.

FORA Capital LLC acquired a new position in shares of Extra Space Storage Inc (NYSE:EXR - Free Report) in the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The fund acquired 1,822 shares of the real estate investment trust's stock, valued at approximately $271,000.

Several other institutional investors and hedge funds have also made changes to their positions in EXR. Integrated Wealth Concepts LLC acquired a new stake in shares of Extra Space Storage during the fourth quarter worth $215,000. Quarry LP lifted its stake in shares of Extra Space Storage by 156.1% during the fourth quarter. Quarry LP now owns 356 shares of the real estate investment trust's stock worth $53,000 after buying an additional 217 shares during the period. Lido Advisors LLC lifted its position in Extra Space Storage by 112.8% during the fourth quarter. Lido Advisors LLC now owns 8,924 shares of the real estate investment trust's stock valued at $1,335,000 after purchasing an additional 4,731 shares during the period. AQR Capital Management LLC lifted its position in Extra Space Storage by 302.3% during the fourth quarter. AQR Capital Management LLC now owns 167,706 shares of the real estate investment trust's stock valued at $24,817,000 after purchasing an additional 126,018 shares during the period. Finally, Mercer Global Advisors Inc. ADV lifted its position in Extra Space Storage by 556.1% during the fourth quarter. Mercer Global Advisors Inc. ADV now owns 23,686 shares of the real estate investment trust's stock valued at $3,543,000 after purchasing an additional 20,076 shares during the period. 99.11% of the stock is currently owned by institutional investors and hedge funds.

Extra Space Storage Price Performance

NYSE EXR traded up $0.68 during trading hours on Thursday, hitting $143.88. 1,435,470 shares of the company's stock traded hands, compared to its average volume of 966,863. Extra Space Storage Inc has a 52-week low of $121.03 and a 52-week high of $184.87. The company has a market capitalization of $30.54 billion, a PE ratio of 31.21, a PEG ratio of 3.47 and a beta of 1.09. The company has a debt-to-equity ratio of 0.88, a current ratio of 0.29 and a quick ratio of 0.29. The firm's 50-day moving average is $144.31 and its 200-day moving average is $146.00.

Extra Space Storage (NYSE:EXR - Get Free Report) last announced its quarterly earnings data on Wednesday, July 30th. The real estate investment trust reported $2.05 earnings per share (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 business had revenue of $841.62 million for the quarter, compared to analysts' expectations of $719.43 million. During the same period in the prior year, the company posted $2.06 EPS. The firm's revenue was up 3.8% on a year-over-year basis. Extra Space Storage has set its FY 2025 guidance at 8.050-8.25 EPS. Equities analysts forecast that Extra Space Storage Inc will post 8.1 EPS for the current fiscal year.

Extra Space Storage Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 30th. Investors of record on Monday, September 15th will be paid a dividend of $1.62 per share. This represents a $6.48 annualized dividend and a yield of 4.5%. The ex-dividend date of this dividend is Monday, September 15th. Extra Space Storage's dividend payout ratio is currently 140.56%.

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on the stock. Mizuho boosted their target price on shares of Extra Space Storage from $141.00 to $153.00 and gave the company an "outperform" rating in a research report on Wednesday, May 28th. Bank of America lifted their price objective on shares of Extra Space Storage from $155.00 to $161.00 and gave the company a "neutral" rating in a report on Tuesday, May 13th. The Goldman Sachs Group reaffirmed a "neutral" rating and issued a $146.00 price objective (down previously from $169.00) on shares of Extra Space Storage in a report on Thursday, August 21st. BNP Paribas raised shares of Extra Space Storage to a "hold" rating in a report on Tuesday, June 24th. Finally, Scotiabank cut their target price on shares of Extra Space Storage from $166.00 to $162.00 and set a "sector outperform" rating for the company in a research note on Thursday, August 28th. Seven research analysts have rated the stock with a Buy rating and nine have issued a Hold rating to the company's stock. According to MarketBeat.com, the company presently has an average rating of "Hold" and an average target price of $153.33.

Insider Transactions at Extra Space Storage

In related news, CEO Joseph D. Margolis sold 7,500 shares of the company's stock in a transaction dated Tuesday, July 1st. The shares were sold at an average price of $150.35, for a total transaction of $1,127,625.00. Following the completion of the sale, the chief executive officer owned 27,260 shares of the company's stock, valued at approximately $4,098,541. This represents a 21.58% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate 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.