APG Asset Management N.V. Has $19.29 Million Stake in Extra Space Storage Inc $EXR

Key Points

• APG Asset Management N.V. reduced its stake in Extra Space Storage Inc by 2.2%, now holding 140,357 shares valued at approximately $19 million.
• Extra Space Storage reported $2.05 earnings per share for the last quarter, slightly missing estimates, and projected its FY 2025 EPS guidance to be between 8.050 and 8.25.
• The company declared a quarterly dividend of $1.62 per share, with an annualized dividend yield of 4.5% and a payout ratio of 140.56%.

APG Asset Management N.V. reduced its stake in shares of Extra Space Storage Inc (NYSE:EXR - Free Report) by 2.2% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 140,357 shares of the real estate investment trust's stock after selling 3,135 shares during the quarter. APG Asset Management N.V. owned 0.07% of Extra Space Storage worth $19,294,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in EXR. Vanguard Group Inc. increased its position in shares of 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 purchasing an additional 295,556 shares in the last quarter. JPMorgan Chase & Co. increased its holdings in shares of Extra Space Storage by 205.7% during 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 buying an additional 2,755,265 shares in the last quarter. Massachusetts Financial Services Co. MA raised its stake in shares of Extra Space Storage by 0.4% in the first quarter. Massachusetts Financial Services Co. MA now owns 3,077,577 shares of the real estate investment trust's stock valued at $456,989,000 after acquiring an additional 12,607 shares during the last quarter. Invesco Ltd. boosted its holdings 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 worth $453,843,000 after acquiring an additional 480,642 shares in the last quarter. Finally, Northern Trust Corp grew its position in Extra Space Storage by 1.7% during the 1st quarter. Northern Trust Corp now owns 2,922,828 shares of the real estate investment trust's stock worth $434,011,000 after acquiring an additional 47,779 shares during the last quarter. Institutional investors and hedge funds own 99.11% of the company's stock.

Extra Space Storage Trading Up 0.8%

Shares of EXR traded up $1.14 on Friday, reaching $143.46. 368,922 shares of the company's stock were exchanged, compared to its average volume of 1,182,467. The business has a 50 day moving average price of $144.72 and a two-hundred day moving average price of $146.43. The company has a current ratio of 0.29, a quick ratio of 0.29 and a debt-to-equity ratio of 0.88. The stock has a market capitalization of $30.45 billion, a P/E ratio of 31.08, a price-to-earnings-growth ratio of 3.43 and a beta of 1.07. Extra Space Storage Inc has a 12 month low of $121.03 and a 12 month high of $184.87.

Extra Space Storage (NYSE:EXR - Get Free Report) last announced 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 period last year, the firm earned $2.06 earnings per share. The firm's revenue for the quarter 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. Research analysts anticipate that Extra Space Storage Inc will post 8.1 earnings per share 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. Stockholders of record on Monday, September 15th will be issued 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 4.5%. Extra Space Storage's payout ratio is 140.56%.

Insider Transactions at Extra Space Storage

In other Extra Space Storage news, CEO Joseph D. Margolis sold 7,500 shares of the 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 completion of the sale, the chief executive officer directly owned 27,260 shares in the company, valued at $4,098,541. This represents a 21.58% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 0.96% of the company's stock.

Wall Street Analyst Weigh In

EXR has been the subject of several research analyst reports. Truist Financial cut their price objective on Extra Space Storage from $158.00 to $150.00 and set a "hold" rating for the company in a research report on Tuesday, August 19th. Wells Fargo & Company raised Extra Space Storage from an "equal weight" rating to an "overweight" rating and set a $160.00 price target for the company in a report on Tuesday. Wall Street Zen raised shares of Extra Space Storage from a "sell" rating to a "hold" rating in a report on Sunday, August 24th. The Goldman Sachs Group restated a "neutral" rating and issued a $146.00 price objective (down previously from $169.00) on shares of Extra Space Storage in a research report on Thursday, August 21st. Finally, Bank of America boosted their target price on shares of Extra Space Storage from $155.00 to $161.00 and gave the stock a "neutral" rating in a research note 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 has an average rating of "Hold" and an average price target of $153.33.

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.