ASR Vermogensbeheer N.V. Takes Position in Extra Space Storage Inc (NYSE:EXR)

Key Points

• ASR Vermogensbeheer N.V. acquired 6,635 shares of Extra Space Storage Inc (NYSE:EXR), valued at approximately $985,000, in the first quarter.
• Extra Space Storage reported earnings per share (EPS) of $2.05 for its latest quarter, missing analysts' expectations by $0.01, while revenue rose by 3.8% year-over-year to $841.62 million.
• The company announced a quarterly dividend of $1.62 per share, with a yield of 4.8% and a high dividend payout ratio of 140.56%.

ASR Vermogensbeheer N.V. bought a new stake in Extra Space Storage Inc (NYSE:EXR - Free Report) in the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund bought 6,635 shares of the real estate investment trust's stock, valued at approximately $985,000.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Quarry LP boosted its stake in Extra Space Storage by 156.1% in the fourth quarter. Quarry LP now owns 356 shares of the real estate investment trust's stock valued at $53,000 after acquiring an additional 217 shares during the period. Golden State Wealth Management LLC raised its holdings in shares of Extra Space Storage by 147.0% during the first quarter. Golden State Wealth Management LLC now owns 405 shares of the real estate investment trust's stock valued at $60,000 after buying an additional 241 shares during the last quarter. Parvin Asset Management LLC bought a new stake in shares of Extra Space Storage during the fourth quarter valued at approximately $62,000. Wayfinding Financial LLC bought a new stake in shares of Extra Space Storage during the first quarter valued at approximately $76,000. Finally, Avalon Trust Co bought a new stake in shares of Extra Space Storage during the first quarter valued at approximately $79,000. 99.11% of the stock is currently owned by institutional investors and hedge funds.

Extra Space Storage Trading Up 1.4%

NYSE EXR traded up $1.90 on Wednesday, hitting $137.44. 459,397 shares of the stock were exchanged, compared to its average volume of 1,195,237. Extra Space Storage Inc has a 52-week low of $121.03 and a 52-week 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 capitalization of $29.17 billion, a price-to-earnings ratio of 29.84, a P/E/G ratio of 3.27 and a beta of 1.07. The company's 50-day moving average price is $147.05 and its two-hundred day moving average price is $147.64.

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 the consensus estimate of $2.06 by ($0.01). Extra Space Storage had a return on equity of 6.69% and a net margin of 29.51%. The firm had revenue of $841.62 million for the quarter, compared to analysts' expectations of $719.43 million. During the same quarter in the previous year, the firm posted $2.06 earnings per share. The company's revenue for the quarter was up 3.8% on a year-over-year basis. Research analysts predict that Extra Space Storage Inc will post 8.1 EPS for the current year.

Extra Space Storage Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, June 30th. Stockholders of record on Monday, June 16th were issued a dividend of $1.62 per share. This represents a $6.48 annualized dividend and a dividend yield of 4.7%. The ex-dividend date was Monday, June 16th. Extra Space Storage's payout ratio is currently 140.56%.

Insider Activity at Extra Space Storage

In other news, CEO Joseph D. Margolis sold 7,500 shares of the business's stock in a transaction on 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 transaction, the chief executive officer directly owned 27,260 shares in the company, valued at $4,098,541. The trade was a 21.58% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. 1.36% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently weighed in on the company. Bank of America lifted their price target on Extra Space Storage from $155.00 to $161.00 and gave the company a "neutral" rating in a report on Tuesday, May 13th. Wall Street Zen raised Extra Space Storage from a "sell" rating to a "hold" rating in a report on Wednesday, April 30th. Evercore ISI cut their price target on Extra Space Storage from $148.00 to $146.00 and set an "in-line" rating on the stock in a report on Monday, August 4th. BNP Paribas raised Extra Space Storage to a "hold" rating in a report on Tuesday, June 24th. Finally, Wells Fargo & Company dropped their target price on Extra Space Storage from $165.00 to $160.00 and set an "equal weight" rating on the stock in a report on Wednesday, July 23rd. Nine investment analysts have rated the stock with a hold rating and seven have given a buy rating to the company. Based on data from MarketBeat.com, Extra Space Storage has an average rating of "Hold" and a consensus price target of $155.85.

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.