Avanza Fonder AB Invests $2.32 Million in Extra Space Storage Inc $EXR

Key Points

• Avanza Fonder AB has established a new investment position in Extra Space Storage Inc by purchasing 15,715 shares worth approximately $2.3 million during the second quarter.
• Extra Space Storage recently declared a quarterly dividend of $1.62 per share, with a dividend yield of 4.6% and a payout ratio of 140.56%.
• The company's quarterly earnings report showed earnings per share of $2.05, missing estimates by a slight margin, while revenue was significantly higher than expected at $841.62 million.

Avanza Fonder AB bought a new stake in shares of Extra Space Storage Inc (NYSE:EXR - Free Report) during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor bought 15,715 shares of the real estate investment trust's stock, valued at approximately $2,317,000.

A number of other large investors have also modified their holdings of EXR. D.A. Davidson & CO. increased its holdings in Extra Space Storage by 7.2% in the 1st 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 during the last quarter. Allspring Global Investments Holdings LLC raised its holdings in Extra Space Storage by 1.8% in the 1st quarter. Allspring Global Investments Holdings LLC now owns 22,222 shares of the real estate investment trust's stock valued at $3,285,000 after acquiring an additional 398 shares during the last quarter. QRG Capital Management Inc. increased its holdings in shares of Extra Space Storage by 21.4% during the 1st quarter. QRG Capital Management Inc. now owns 2,684 shares of the real estate investment trust's stock worth $399,000 after buying an additional 474 shares during the last quarter. Farther Finance Advisors LLC grew its position 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 valued at $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 purchasing an additional 1,583 shares during the period. Institutional investors and hedge funds own 99.11% of the company's stock.

Extra Space Storage Stock Performance

Shares of NYSE:EXR traded down $0.44 during midday trading on Monday, reaching $138.88. 884,076 shares of the company traded hands, compared to its average volume of 1,030,913. The firm has a market capitalization of $29.48 billion, a price-to-earnings ratio of 30.13, a price-to-earnings-growth ratio of 3.38 and a beta of 1.09. Extra Space Storage Inc has a 12 month low of $121.03 and a 12 month high of $183.22. The firm's fifty day moving average price is $142.99 and its two-hundred day moving average price is $144.92. 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 posted its quarterly earnings data 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 firm had revenue of $841.62 million for the quarter, compared to the consensus estimate of $719.43 million. Extra Space Storage had a net margin of 29.51% and a return on equity of 6.69%. The business's revenue was up 3.8% compared to the same quarter last year. During the same period in the previous year, the firm posted $2.06 earnings per share. Extra Space Storage has set its FY 2025 guidance at 8.050-8.25 EPS. On average, equities analysts expect 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 disclosed a quarterly dividend, which will be paid on Tuesday, September 30th. Stockholders of record on Monday, September 15th will be paid a $1.62 dividend. This represents a $6.48 annualized dividend and a dividend yield of 4.7%. The ex-dividend date of this dividend is Monday, September 15th. Extra Space Storage's payout ratio is currently 140.56%.

Analyst Upgrades and Downgrades

A number of research firms have commented on EXR. Barclays reduced their price objective on shares of Extra Space Storage from $178.00 to $169.00 and set an "overweight" rating for the company in a research note on Friday, August 8th. UBS Group lowered their target price on shares of Extra Space Storage from $169.00 to $160.00 and set a "buy" rating on the stock in a report on Tuesday, September 16th. 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 research note on Thursday, August 21st. Royal Bank Of Canada decreased their price target on shares of Extra Space Storage from $160.00 to $148.00 and set a "sector perform" rating for the company in a report on Monday, August 4th. Finally, Wells Fargo & Company upgraded Extra Space Storage from an "equal weight" rating to an "overweight" rating and set a $160.00 price target on the stock in a report on Tuesday, August 26th. Six equities research analysts have rated the stock with a Buy rating and nine have assigned a Hold rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of "Hold" and a consensus target price of $148.50.

Insiders Place Their Bets

In other Extra Space Storage news, CEO Joseph D. Margolis sold 7,500 shares of Extra Space Storage stock in a transaction that occurred on Tuesday, July 1st. The shares were sold at an average price of $150.35, for a total value of $1,127,625.00. Following the transaction, the chief executive officer 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 transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. 1.36% of the stock is owned by corporate insiders.

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.