Argent Capital Management LLC Has $18.46 Million Stock Holdings in Extra Space Storage Inc $EXR

Key Points

• Argent Capital Management LLC has increased its stake in Extra Space Storage Inc (NYSE: EXR) by 2.8%, owning approximately $18.46 million worth of stock as of the end of the second quarter.
• CEO Joseph D. Margolis sold 7,500 shares of Extra Space Storage, reducing his ownership by 21.58%, with a value of around $1.13 million from the sale.
• Extra Space Storage recently declared a quarterly dividend of $1.62 per share, representing a yield of 4.7%, although its dividend payout ratio stands at 140.56%.

Argent Capital Management LLC increased its holdings in Extra Space Storage Inc (NYSE:EXR - Free Report) by 2.8% in the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 125,205 shares of the real estate investment trust's stock after purchasing an additional 3,435 shares during the period. Argent Capital Management LLC owned approximately 0.06% of Extra Space Storage worth $18,460,000 at the end of the most recent quarter.

Several other hedge funds have also recently added to or reduced their stakes in the business. Siemens Fonds Invest GmbH raised its position in Extra Space Storage by 3.0% in the fourth quarter. Siemens Fonds Invest GmbH now owns 2,320 shares of the real estate investment trust's stock worth $342,000 after purchasing an additional 68 shares in the last quarter. Exchange Traded Concepts LLC raised its position in Extra Space Storage by 8.5% in the first quarter. Exchange Traded Concepts LLC now owns 934 shares of the real estate investment trust's stock worth $139,000 after purchasing an additional 73 shares in the last quarter. Naviter Wealth LLC raised its position in Extra Space Storage by 0.6% in the first quarter. Naviter Wealth LLC now owns 13,645 shares of the real estate investment trust's stock worth $2,007,000 after purchasing an additional 82 shares in the last quarter. Mackenzie Financial Corp increased its holdings in shares of Extra Space Storage by 0.5% during the fourth quarter. Mackenzie Financial Corp now owns 18,363 shares of the real estate investment trust's stock worth $2,747,000 after buying an additional 90 shares in the last quarter. Finally, Taylor Frigon Capital Management LLC increased its holdings in shares of Extra Space Storage by 0.8% during the first quarter. Taylor Frigon Capital Management LLC now owns 12,248 shares of the real estate investment trust's stock worth $1,819,000 after buying an additional 93 shares in the last quarter. Institutional investors and hedge funds own 99.11% of the company's stock.

Insider Buying and Selling at Extra Space Storage

In other news, CEO Joseph D. Margolis sold 7,500 shares of Extra Space Storage 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 transaction, the chief executive officer directly owned 27,260 shares of the company's stock, valued at $4,098,541. This trade represents a 21.58% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. 1.36% of the stock is currently owned by corporate insiders.

Extra Space Storage Trading Down 0.3%

Shares of NYSE EXR opened at $138.88 on Tuesday. The company's fifty day moving average is $142.99 and its 200-day moving average is $144.92. The stock has a market cap of $29.48 billion, a price-to-earnings ratio of 30.13, a P/E/G ratio of 3.38 and a beta of 1.09. Extra Space Storage Inc has a twelve month low of $121.03 and a twelve month high of $183.22. 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 announced its quarterly earnings results on Wednesday, July 30th. The real estate investment trust reported $2.05 earnings per share for the quarter, missing analysts' consensus estimates of $2.06 by ($0.01). The firm had revenue of $841.62 million for the quarter, compared to the consensus estimate of $719.43 million. Extra Space Storage had a return on equity of 6.69% and a net margin of 29.51%.The company's revenue for the quarter was up 3.8% compared to the same quarter last year. During the same period in the prior year, the business earned $2.06 earnings per share. 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 company also recently declared a quarterly dividend, which will be paid on Tuesday, September 30th. Stockholders of record on Monday, September 15th will be given a dividend of $1.62 per share. This represents a $6.48 dividend on an annualized basis and a dividend yield of 4.7%. The ex-dividend date of this dividend is Monday, September 15th. Extra Space Storage's dividend payout ratio (DPR) is currently 140.56%.

Wall Street Analyst Weigh In

Several analysts have recently weighed in on the stock. BNP Paribas raised shares of Extra Space Storage to a "hold" rating in a report on Tuesday, June 24th. BNP Paribas Exane assumed coverage on shares of Extra Space Storage in a report on Tuesday, June 24th. They set a "neutral" rating and a $156.00 price objective for the company. UBS Group dropped their price objective on shares of Extra Space Storage from $169.00 to $160.00 and set a "buy" rating for the company in a report on Tuesday, September 16th. Evercore ISI raised their price objective on shares of Extra Space Storage from $146.00 to $147.00 and gave the stock an "in-line" rating in a report on Monday, September 15th. Finally, Wall Street Zen raised shares of Extra Space Storage from a "sell" rating to a "hold" rating in a report on Tuesday, September 9th. Six equities research analysts have rated the stock with a Buy rating and nine have issued a Hold rating to the company. According to MarketBeat, the company presently has an average rating of "Hold" and an average target price of $148.50.

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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