2,166 Shares in Extra Space Storage Inc $EXR Acquired by MBB Public Markets I LLC

Key Points

• MBB Public Markets I LLC acquired 2,166 shares of Extra Space Storage Inc, valued at approximately $322,000, marking the firm's initial investment in the real estate investment trust (REIT).
• Extra Space Storage reported $2.05 earnings per share (EPS) for the last quarter, slightly missing the consensus estimate, but its revenue of $841.62 million exceeded expectations, indicating a 3.8% year-over-year growth.
• The company recently announced a quarterly dividend of $1.62, yielding 4.4%, with a payout ratio currently at 140.56%.

MBB Public Markets I LLC acquired a new position in Extra Space Storage Inc (NYSE:EXR - Free Report) in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The firm acquired 2,166 shares of the real estate investment trust's stock, valued at approximately $322,000.

Several other large investors also recently bought and sold shares of EXR. JPMorgan Chase & Co. increased 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 buying an additional 2,755,265 shares in the last quarter. Nuveen LLC bought a new stake in Extra Space Storage in the 1st quarter worth about $257,917,000. AQR Capital Management LLC increased its holdings in Extra Space Storage by 570.3% in the 1st quarter. AQR Capital Management LLC now owns 1,124,206 shares of the real estate investment trust's stock worth $166,180,000 after buying an additional 956,500 shares in the last quarter. Resolution Capital Ltd boosted its position in Extra Space Storage by 259.1% in the first quarter. Resolution Capital Ltd now owns 902,157 shares of the real estate investment trust's stock worth $133,961,000 after purchasing an additional 650,957 shares during the last quarter. Finally, Universal Beteiligungs und Servicegesellschaft mbH purchased a new position in Extra Space Storage in the fourth quarter worth about $74,984,000. 99.11% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Extra Space Storage

In other news, CEO Joseph D. Margolis sold 7,500 shares of Extra Space Storage stock in a transaction dated Tuesday, July 1st. The stock was sold at an average price of $150.35, for a total transaction of $1,127,625.00. Following the transaction, the chief executive officer directly owned 27,260 shares of the company's stock, valued at $4,098,541. The trade was a 21.58% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.96% of the stock is currently owned by insiders.

Extra Space Storage Stock Performance

Shares of EXR stock traded down $1.01 during trading hours on Friday, reaching $147.30. 1,176,630 shares of the company traded hands, compared to its average volume of 991,472. Extra Space Storage Inc has a 12-month low of $121.03 and a 12-month high of $184.87. 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 company has a market cap of $31.27 billion, a P/E ratio of 31.95, a P/E/G ratio of 3.56 and a beta of 1.09. The firm has a 50-day moving average price of $143.90 and a 200 day moving average price of $145.47.

Extra Space Storage (NYSE:EXR - Get Free Report) last posted its quarterly earnings data 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 for the quarter, compared to analysts' expectations of $719.43 million. During the same period in the previous year, the firm earned $2.06 earnings per share. The firm's quarterly 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. As a group, sell-side analysts predict that Extra Space Storage Inc will post 8.1 earnings per share for the current fiscal year.

Extra Space Storage Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 30th. Stockholders of record on Monday, September 15th will be given a dividend of $1.62 per share. This represents a $6.48 dividend on an annualized basis and a dividend yield of 4.4%. The ex-dividend date of this dividend is Monday, September 15th. Extra Space Storage's payout ratio is presently 140.56%.

Wall Street Analyst Weigh In

EXR has been the topic of several research reports. Royal Bank Of Canada dropped their target price on Extra Space Storage from $160.00 to $148.00 and set a "sector perform" rating on the stock in a research report on Monday, August 4th. Wall Street Zen raised Extra Space Storage from a "sell" rating to a "hold" rating in a research report on Tuesday, September 9th. Citigroup dropped their target price on 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. BNP Paribas raised Extra Space Storage to a "hold" rating in a research report on Tuesday, June 24th. Finally, Scotiabank dropped their target price on 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. Six investment analysts have rated the stock with a Buy rating and nine have issued a Hold rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of "Hold" and an average price target of $151.57.

Extra Space Storage 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.