Callan Family Office LLC Raises Stock Holdings in Extra Space Storage Inc $EXR

Key Points

• Callan Family Office LLC increased its stake in Extra Space Storage Inc (EXR) by 183.1% during the second quarter, now holding a total of 3,921 shares valued at approximately $578,000.
• In recent analyst reports, several target prices for EXR were adjusted downward, with UBS setting a new target of $160.00 and Goldman Sachs maintaining a neutral rating at a target of $146.00.
• Extra Space Storage declared a quarterly dividend of $1.62, reflecting an annualized yield of 4.4%, although its current payout ratio stands at 140.56%.

Callan Family Office LLC increased its position in Extra Space Storage Inc (NYSE:EXR - Free Report) by 183.1% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 3,921 shares of the real estate investment trust's stock after buying an additional 2,536 shares during the quarter. Callan Family Office LLC's holdings in Extra Space Storage were worth $578,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds also recently made changes to their positions in EXR. GKV Capital Management Co. Inc. purchased a new position in shares of Extra Space Storage in the first quarter worth $29,000. Chung Wu Investment Group LLC purchased a new position in shares of Extra Space Storage in the second quarter worth $29,000. Zions Bancorporation National Association UT purchased a new position in shares of Extra Space Storage in the first quarter worth $50,000. Golden State Wealth Management LLC increased its stake in shares of Extra Space Storage by 147.0% in the first quarter. Golden State Wealth Management LLC now owns 405 shares of the real estate investment trust's stock worth $60,000 after buying an additional 241 shares during the period. Finally, Ameritas Advisory Services LLC purchased a new position in shares of Extra Space Storage in the second quarter worth $75,000. 99.11% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

EXR has been the topic of several analyst reports. UBS Group decreased 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 research note on Tuesday, September 16th. The Goldman Sachs Group reiterated a "neutral" rating and issued a $146.00 price target (down previously from $169.00) on shares of Extra Space Storage in a report on Thursday, August 21st. Wells Fargo & Company upgraded shares of 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. Citigroup cut their price target on shares of Extra Space Storage from $165.00 to $150.00 and set a "neutral" rating on the stock in a report on Friday, August 22nd. Finally, Royal Bank Of Canada cut their price target on shares of Extra Space Storage from $160.00 to $148.00 and set a "sector perform" rating on the stock in a report on Monday, August 4th. Six research analysts have rated the stock with a Buy rating, nine have issued a Hold rating and one has given a Sell rating to the company's stock. According to data from MarketBeat, Extra Space Storage currently has an average rating of "Hold" and a consensus price target of $148.64.

Insider Transactions at Extra Space Storage

In related news, CEO Joseph D. Margolis sold 7,500 shares of the company's stock in a transaction dated Wednesday, October 1st. The shares were sold at an average price of $141.41, for a total value of $1,060,575.00. Following the transaction, the chief executive officer owned 19,760 shares in the company, valued at $2,794,261.60. The trade was a 27.51% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. 1.36% of the stock is currently owned by insiders.

Extra Space Storage Stock Performance

Shares of EXR stock opened at $147.98 on Wednesday. Extra Space Storage Inc has a 12 month low of $121.03 and a 12 month high of $175.57. The stock has a market cap of $31.41 billion, a PE ratio of 32.10, a price-to-earnings-growth ratio of 3.52 and a beta of 1.11. 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 company's fifty day moving average price is $141.43 and its 200-day moving average price is $144.35.

Extra Space Storage (NYSE:EXR - Get Free Report) last announced its earnings results 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 net margin of 29.51% and a return on equity of 6.69%. The business had revenue of $841.62 million for the quarter, compared to the consensus estimate of $719.43 million. During the same quarter last year, the firm posted $2.06 EPS. The business's quarterly 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. On average, equities analysts expect that Extra Space Storage Inc will post 8.1 EPS for the current fiscal year.

Extra Space Storage Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, September 30th. Investors of record on Monday, September 15th were paid a $1.62 dividend. The ex-dividend date was Monday, September 15th. This represents a $6.48 dividend on an annualized basis and a yield of 4.4%. Extra Space Storage's payout ratio is presently 140.56%.

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.

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