Alyeska Investment Group L.P. acquired a new position in shares of Extra Space Storage Inc (NYSE:EXR - Free Report) during the 1st quarter, according to its most recent 13F filing with the SEC. The fund acquired 93,569 shares of the real estate investment trust's stock, valued at approximately $13,894,000.
Other institutional investors and hedge funds also recently made changes to their positions in the company. D.A. Davidson & CO. increased its stake in shares of Extra Space Storage by 7.2% in the first quarter. D.A. Davidson & CO. now owns 1,895 shares of the real estate investment trust's stock worth $281,000 after buying an additional 127 shares during the last quarter. Allspring Global Investments Holdings LLC grew its holdings in Extra Space Storage by 1.8% during the 1st 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. increased its position in shares of Extra Space Storage by 21.4% in the 1st quarter. QRG Capital Management Inc. now owns 2,684 shares of the real estate investment trust's stock worth $399,000 after purchasing an additional 474 shares during the last quarter. Farther Finance Advisors LLC raised its stake in shares of Extra Space Storage by 24.3% in the 1st quarter. Farther Finance Advisors LLC now owns 1,464 shares of the real estate investment trust's stock valued at $216,000 after purchasing an additional 286 shares in the last quarter. Finally, IFP Advisors Inc raised its stake in shares of Extra Space Storage by 1,376.5% in the 1st quarter. IFP Advisors Inc now owns 1,698 shares of the real estate investment trust's stock valued at $252,000 after purchasing an additional 1,583 shares in the last quarter. 99.11% of the stock is currently owned by hedge funds and other institutional investors.
Insider Buying and Selling at Extra Space Storage
In other news, CEO Joseph D. Margolis sold 7,500 shares of the business's stock in a transaction that occurred on 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 completion of the transaction, the chief executive officer directly owned 27,260 shares in the company, valued at approximately $4,098,541. The trade was a 21.58% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Company insiders own 1.36% of the company's stock.
Extra Space Storage Stock Performance
EXR stock traded up $3.35 during mid-day trading on Friday, reaching $147.19. The company had a trading volume of 1,229,017 shares, compared to its average volume of 1,016,692. The company has a quick ratio of 0.29, a current ratio of 0.29 and a debt-to-equity ratio of 0.88. The stock has a market capitalization of $31.24 billion, a P/E ratio of 31.93, a P/E/G ratio of 3.56 and a beta of 1.09. Extra Space Storage Inc has a one year low of $121.03 and a one year high of $184.87. The stock's 50-day simple moving average is $144.34 and its two-hundred day simple moving average is $145.82.
Extra Space Storage (NYSE:EXR - Get Free Report) last released its quarterly earnings results on Wednesday, July 30th. The real estate investment trust reported $2.05 EPS 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 the consensus estimate of $719.43 million. The firm's revenue was up 3.8% on a year-over-year basis. During the same quarter in the prior year, the company posted $2.06 EPS. Extra Space Storage has set its FY 2025 guidance at 8.050-8.25 EPS. Research analysts anticipate that Extra Space Storage Inc will post 8.1 EPS for the current year.
Extra Space Storage Announces Dividend
The company also recently declared a quarterly dividend, which will be paid on Tuesday, September 30th. Shareholders of record on Monday, September 15th will be paid a $1.62 dividend. The ex-dividend date 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 presently 140.56%.
Wall Street Analysts Forecast Growth
A number of equities analysts recently commented on the company. Benchmark decreased their price target on Extra Space Storage from $61.00 to $55.00 and set a "buy" rating for the company in a research note on Tuesday, May 13th. Scotiabank decreased their target price on Extra Space Storage from $166.00 to $162.00 and set a "sector outperform" rating for the company in a research report on Thursday, August 28th. Mizuho boosted 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. Wall Street Zen cut Extra Space Storage from a "hold" rating to a "sell" rating in a research note on Monday, September 1st. Finally, Bank of America lifted their price objective on shares of Extra Space Storage from $155.00 to $161.00 and gave the stock a "neutral" rating in a report on Tuesday, May 13th. Seven analysts have rated the stock with a Buy rating and nine have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Hold" and an average price target of $153.33.
View Our Latest Stock Analysis on Extra Space Storage
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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