Aberdeen Group plc increased its holdings in shares of Extra Space Storage Inc (NYSE:EXR - Free Report) by 39.1% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 215,982 shares of the real estate investment trust's stock after buying an additional 60,694 shares during the period. Aberdeen Group plc owned about 0.10% of Extra Space Storage worth $31,988,000 at the end of the most recent quarter.
Several other hedge funds have also added to or reduced their stakes in the business. Vanguard Group Inc. boosted its position in Extra Space Storage by 0.9% during the 1st quarter. Vanguard Group Inc. now owns 33,969,485 shares of the real estate investment trust's stock worth $5,044,129,000 after buying an additional 295,556 shares during the period. JPMorgan Chase & Co. lifted its position in shares of 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 purchasing an additional 2,755,265 shares during the period. Dimensional Fund Advisors LP lifted its position in shares of Extra Space Storage by 0.8% in the 4th quarter. Dimensional Fund Advisors LP now owns 3,136,640 shares of the real estate investment trust's stock worth $469,229,000 after purchasing an additional 24,533 shares during the period. Massachusetts Financial Services Co. MA lifted its position in shares of Extra Space Storage by 0.4% in the 1st quarter. Massachusetts Financial Services Co. MA now owns 3,077,577 shares of the real estate investment trust's stock worth $456,989,000 after purchasing an additional 12,607 shares during the period. Finally, Invesco Ltd. increased its stake in shares of Extra Space Storage by 18.7% in the 1st quarter. Invesco Ltd. now owns 3,056,384 shares of the real estate investment trust's stock valued at $453,843,000 after acquiring an additional 480,642 shares in the last quarter. 99.11% of the stock is currently owned by institutional investors and hedge funds.
Insider Buying and Selling at Extra Space Storage
In related news, CEO Joseph D. Margolis sold 7,500 shares of the company's stock in a transaction that occurred on Tuesday, July 1st. The shares were sold at an average price of $150.35, for a total value of $1,127,625.00. Following the transaction, the chief executive officer directly owned 27,260 shares in the company, valued at approximately $4,098,541. This represents a 21.58% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 0.96% of the company's stock.
Extra Space Storage Price Performance
Shares of EXR traded down $0.6350 during midday trading on Thursday, hitting $139.0050. 725,841 shares of the company traded hands, compared to its average volume of 1,194,241. The stock has a 50-day moving average of $145.57 and a 200-day moving average of $147.00. Extra Space Storage Inc has a one year low of $121.03 and a one year high of $184.87. The firm has a market cap of $29.50 billion, a P/E ratio of 30.15, a PEG ratio of 3.38 and a beta of 1.07. The company has a debt-to-equity ratio of 0.88, a current ratio of 0.29 and a quick ratio of 0.29.
Extra Space Storage (NYSE:EXR - Get Free Report) last announced its quarterly earnings results 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 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 the consensus estimate of $719.43 million. During the same quarter in the prior year, the company earned $2.06 earnings per share. The company'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 EPS for the current fiscal year.
Wall Street Analyst Weigh In
A number of analysts have commented on EXR shares. Royal Bank Of Canada decreased their price target on shares of Extra Space Storage from $160.00 to $148.00 and set a "sector perform" rating for the company in a research note on Monday, August 4th. The Goldman Sachs Group reiterated a "neutral" rating and issued a $146.00 target price (down previously from $169.00) on shares of Extra Space Storage in a research note on Thursday. Benchmark cut their price target on shares of Extra Space Storage from $61.00 to $55.00 and set a "buy" rating on the stock in a report on Tuesday, May 13th. Truist Financial cut their price target on shares of Extra Space Storage from $158.00 to $150.00 and set a "hold" rating on the stock in a report on Tuesday. Finally, Scotiabank boosted their price target on shares of Extra Space Storage from $149.00 to $166.00 and gave the stock a "sector outperform" rating in a report on Monday, May 12th. Six equities research analysts have rated the stock with a Buy rating and nine have assigned a Hold rating to the company's stock. Based on data from MarketBeat.com, the company has a consensus rating of "Hold" and an average price target of $153.86.
View Our Latest Research Report on EXR
About Extra Space Storage
(
Free Report)
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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