Amundi Has $78.63 Million Position in Extra Space Storage Inc $EXR

Key Points

• Amundi has reduced its stake in Extra Space Storage Inc by 34.2%, now holding $78.63 million worth of shares after selling 283,208 shares in the first quarter.
• The company reported $2.05 EPS for the last quarter, missing estimates, although its revenue increased by 3.8% year-over-year to $841.62 million.
• Extra Space Storage announced a quarterly dividend of $1.62 per share, with an annualized yield of 4.4%, scheduled for payment on September 30th.

Amundi cut its holdings in Extra Space Storage Inc (NYSE:EXR - Free Report) by 34.2% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 545,436 shares of the real estate investment trust's stock after selling 283,208 shares during the quarter. Amundi owned about 0.26% of Extra Space Storage worth $78,630,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the business. Adage Capital Partners GP L.L.C. boosted its stake in Extra Space Storage by 215.0% in the first quarter. Adage Capital Partners GP L.L.C. now owns 403,500 shares of the real estate investment trust's stock valued at $59,916,000 after acquiring an additional 275,400 shares during the last quarter. EP Wealth Advisors LLC boosted its stake in Extra Space Storage by 3.3% in the first quarter. EP Wealth Advisors LLC now owns 4,062 shares of the real estate investment trust's stock valued at $603,000 after acquiring an additional 128 shares during the last quarter. Focus Partners Advisor Solutions LLC bought a new position in Extra Space Storage in the first quarter valued at approximately $425,000. Cubist Systematic Strategies LLC bought a new position in Extra Space Storage in the first quarter valued at approximately $23,982,000. Finally, Graham Capital Management L.P. boosted its stake in Extra Space Storage by 116.7% in the first quarter. Graham Capital Management L.P. now owns 26,820 shares of the real estate investment trust's stock valued at $3,983,000 after acquiring an additional 14,441 shares during the last quarter. 99.11% of the stock is owned by institutional investors.

Insider Activity at Extra Space Storage

In related news, CEO Joseph D. Margolis sold 7,500 shares of the firm'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 sale, the chief executive officer directly owned 27,260 shares in the company, valued at $4,098,541. This trade represents a 21.58% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. 0.96% of the stock is currently owned by insiders.

Extra Space Storage Trading Up 2.3%

Shares of NYSE EXR opened at $147.19 on Friday. The company's fifty day moving average is $144.34 and its 200-day moving average is $145.89. The stock has a market cap of $31.24 billion, a price-to-earnings ratio of 31.93, a P/E/G ratio of 3.56 and a beta of 1.09. Extra Space Storage Inc has a twelve month low of $121.03 and a twelve month high of $184.87. The company has a quick ratio of 0.29, a current ratio of 0.29 and a debt-to-equity ratio of 0.88.

Extra Space Storage (NYSE:EXR - Get Free Report) last issued its quarterly earnings data on Wednesday, July 30th. The real estate investment trust reported $2.05 EPS for the quarter, missing analysts' consensus estimates 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 company had revenue of $841.62 million for the quarter, compared to analyst estimates of $719.43 million. During the same quarter in the previous year, the business earned $2.06 earnings per share. The company's 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. Equities research analysts predict that Extra Space Storage Inc will post 8.1 EPS 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. Investors of record on Monday, September 15th will be issued a dividend of $1.62 per share. This represents a $6.48 dividend on an annualized basis and a dividend yield of 4.4%. The ex-dividend date is Monday, September 15th. Extra Space Storage's dividend payout ratio (DPR) is presently 140.56%.

Wall Street Analysts Forecast Growth

A number of equities analysts have issued reports on the stock. JPMorgan Chase & Co. raised their price objective on shares of Extra Space Storage from $160.00 to $162.00 and gave the company a "neutral" rating in a research note on Friday, June 13th. Barclays reduced their price target on shares of Extra Space Storage from $178.00 to $169.00 and set an "overweight" rating on the stock in a research report on Friday, August 8th. Scotiabank reduced their price target on shares of Extra Space Storage from $166.00 to $162.00 and set a "sector outperform" rating on the stock in a research report on Thursday, August 28th. Wall Street Zen cut shares of Extra Space Storage from a "hold" rating to a "sell" rating in a research report on Monday, September 1st. Finally, Benchmark reduced 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 research report on Tuesday, May 13th. Seven equities research analysts have rated the stock with a Buy rating and nine have assigned a Hold rating to the company's stock. According to MarketBeat.com, the company currently has a consensus rating of "Hold" and a consensus target price of $153.33.

Extra Space Storage Company 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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