Aberdeen Group plc Purchases 14,368 Shares of Extra Space Storage Inc $EXR

Key Points

• Aberdeen Group plc increased its stake in Extra Space Storage Inc by 6.7%, now holding 230,350 shares valued at approximately $33.5 million.
• Extra Space Storage reported a quarterly earnings per share of $2.05, slightly missing estimates, with revenue exceeding expectations at $841.62 million.
• The company declared a quarterly dividend of $1.62 per share, yielding around 4.6%, with a payout ratio of 140.56%.

Aberdeen Group plc lifted its position in shares of Extra Space Storage Inc (NYSE:EXR - Free Report) by 6.7% during the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 230,350 shares of the real estate investment trust's stock after purchasing an additional 14,368 shares during the quarter. Aberdeen Group plc owned about 0.11% of Extra Space Storage worth $33,526,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds also recently made changes to their positions in the company. D.A. Davidson & CO. boosted its position in shares of Extra Space Storage by 7.2% during the first quarter. D.A. Davidson & CO. now owns 1,895 shares of the real estate investment trust's stock valued at $281,000 after purchasing an additional 127 shares in the last quarter. Allspring Global Investments Holdings LLC boosted its holdings in Extra Space Storage by 1.8% in the first quarter. Allspring Global Investments Holdings LLC now owns 22,222 shares of the real estate investment trust's stock worth $3,285,000 after acquiring an additional 398 shares in the last quarter. QRG Capital Management Inc. boosted its holdings in Extra Space Storage by 21.4% in the first quarter. QRG Capital Management Inc. now owns 2,684 shares of the real estate investment trust's stock worth $399,000 after acquiring an additional 474 shares in the last quarter. Farther Finance Advisors LLC boosted its holdings in Extra Space Storage by 24.3% in the first quarter. Farther Finance Advisors LLC now owns 1,464 shares of the real estate investment trust's stock worth $216,000 after acquiring an additional 286 shares in the last quarter. Finally, IFP Advisors Inc boosted its holdings in Extra Space Storage by 1,376.5% in the first quarter. IFP Advisors Inc now owns 1,698 shares of the real estate investment trust's stock worth $252,000 after acquiring an additional 1,583 shares in the last quarter. 99.11% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

EXR has been the topic of several analyst reports. Truist Financial dropped their target price on Extra Space Storage from $158.00 to $150.00 and set a "hold" rating on the stock in a report on Tuesday, August 19th. 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 report on Monday, August 4th. Wells Fargo & Company raised Extra Space Storage from an "equal weight" rating to an "overweight" rating and set a $160.00 target price on the stock in a report on Tuesday, August 26th. The Goldman Sachs Group reissued a "neutral" rating and issued a $146.00 target price (down from $169.00) on shares of Extra Space Storage in a report on Thursday, August 21st. Finally, BNP Paribas Exane began coverage on Extra Space Storage in a research note on Tuesday, June 24th. They issued a "neutral" rating and a $156.00 price target for the company. Six analysts have rated the stock with a Buy rating, nine have assigned a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, the company has an average rating of "Hold" and an average target price of $148.64.

Extra Space Storage Stock Down 0.8%

EXR stock opened at $141.98 on Monday. Extra Space Storage Inc has a 1-year low of $121.03 and a 1-year high of $175.57. The business has a fifty day moving average price of $141.10 and a 200-day moving average price of $144.33. 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 stock has a market capitalization of $30.14 billion, a P/E ratio of 30.80, a P/E/G ratio of 3.44 and a beta of 1.11.

Extra Space Storage (NYSE:EXR - Get Free Report) last posted 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). The business had revenue of $841.62 million during the quarter, compared to analysts' expectations of $719.43 million. Extra Space Storage had a return on equity of 6.69% and a net margin of 29.51%.The firm's revenue for the quarter was up 3.8% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $2.06 EPS. 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 earnings per share for the current fiscal year.

Extra Space Storage Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, September 30th. Investors of record on Monday, September 15th were given a dividend of $1.62 per share. This represents a $6.48 dividend on an annualized basis and a yield of 4.6%. The ex-dividend date was Monday, September 15th. Extra Space Storage's dividend payout ratio is 140.56%.

Insider Buying and Selling

In related news, CEO Joseph D. Margolis sold 7,500 shares of the company's stock in a transaction on Wednesday, October 1st. The stock was sold at an average price of $141.41, for a total transaction of $1,060,575.00. Following the completion of the sale, the chief executive officer owned 19,760 shares in the company, valued at approximately $2,794,261.60. This represents a 27.51% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 1.36% of the company's stock.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.