9,827 Shares in Extra Space Storage Inc $EXR Bought by AG2R LA Mondiale Gestion D Actifs

Key Points

• AG2R LA Mondiale Gestion D Actifs has acquired 9,827 shares of Extra Space Storage (NYSE: EXR), valued at approximately $1.485 million, during the first quarter.
• Extra Space Storage's stock has shown a 0.7% decline recently, with a 52-week range between $121.03 and $184.87.
• The company reported $2.05 earnings per share for the last quarter, slightly below analysts' expectations, and has set FY 2025 guidance at $8.050-8.25 EPS.

AG2R LA Mondiale Gestion D Actifs purchased a new position in Extra Space Storage Inc (NYSE:EXR - Free Report) during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor purchased 9,827 shares of the real estate investment trust's stock, valued at approximately $1,485,000.

A number of other institutional investors have also recently modified their holdings of EXR. JPMorgan Chase & Co. grew its stake in shares of Extra Space Storage by 205.7% in the first quarter. JPMorgan Chase & Co. now owns 4,094,555 shares of the real estate investment trust's stock worth $608,001,000 after acquiring an additional 2,755,265 shares during the last quarter. Nuveen LLC purchased a new stake in shares of Extra Space Storage in the first quarter worth $257,917,000. AQR Capital Management LLC grew its stake in shares of Extra Space Storage by 570.3% in the first quarter. AQR Capital Management LLC now owns 1,124,206 shares of the real estate investment trust's stock worth $166,180,000 after acquiring an additional 956,500 shares during the last quarter. Resolution Capital Ltd grew its stake in shares of 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 acquiring an additional 650,957 shares during the last quarter. Finally, Universal Beteiligungs und Servicegesellschaft mbH purchased a new stake in shares of Extra Space Storage in the fourth quarter worth $74,984,000. 99.11% of the stock is owned by hedge funds and other institutional investors.

Extra Space Storage Stock Down 0.7%

EXR stock opened at $147.30 on Friday. Extra Space Storage Inc has a fifty-two week low of $121.03 and a fifty-two week high of $184.87. The business's 50-day moving average is $143.90 and its two-hundred day moving average is $145.52. The company has a debt-to-equity ratio of 0.88, a quick ratio of 0.29 and a current ratio of 0.29. The company has a market cap of $31.26 billion, a price-to-earnings ratio of 31.95, a P/E/G ratio of 3.59 and a beta of 1.09.

Extra Space Storage (NYSE:EXR - Get Free Report) last posted its earnings results 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 firm had revenue of $841.62 million during the quarter, compared to the consensus estimate 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% compared to the same quarter last year. Extra Space Storage has set its FY 2025 guidance at 8.050-8.25 EPS. As a group, analysts forecast that Extra Space Storage Inc will post 8.1 earnings per share for the current year.

Extra Space Storage Dividend Announcement

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 paid a $1.62 dividend. The ex-dividend date of this dividend is Monday, September 15th. This represents a $6.48 annualized dividend and a dividend yield of 4.4%. Extra Space Storage's dividend payout ratio (DPR) is 140.56%.

Insider Activity at Extra Space Storage

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

Analysts Set New Price Targets

A number of equities research analysts have recently commented on the company. Citigroup cut their target price on Extra Space Storage from $165.00 to $150.00 and set a "neutral" rating on the stock in a research note on Friday, August 22nd. Royal Bank Of Canada lowered their price target on Extra Space Storage from $160.00 to $148.00 and set a "sector perform" rating on the stock in a report on Monday, August 4th. JPMorgan Chase & Co. upped their price target on Extra Space Storage from $160.00 to $162.00 and gave the company a "neutral" rating in a report on Friday, June 13th. Mizuho upped their price target on Extra Space Storage from $141.00 to $153.00 and gave the company an "outperform" rating in a report on Wednesday, May 28th. Finally, Wall Street Zen raised Extra Space Storage from a "sell" rating to a "hold" rating in a report on Tuesday, September 9th. Six research analysts have rated the stock with a Buy rating and nine have assigned a Hold rating to the stock. According to data from MarketBeat, the stock presently 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.

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