Cwm LLC Increases Stock Holdings in Extra Space Storage Inc $EXR

Cwm LLC raised its stake in Extra Space Storage Inc (NYSE:EXR - Free Report) by 107.8% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 42,403 shares of the real estate investment trust's stock after purchasing an additional 21,999 shares during the quarter. Cwm LLC's holdings in Extra Space Storage were worth $6,252,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently modified their holdings of EXR. Exchange Traded Concepts LLC lifted its holdings in Extra Space Storage by 8.5% in the 1st quarter. Exchange Traded Concepts LLC now owns 934 shares of the real estate investment trust's stock valued at $139,000 after purchasing an additional 73 shares in the last quarter. FARMERS & MERCHANTS TRUST Co OF LONG BEACH raised its position in shares of Extra Space Storage by 4.6% in the second quarter. FARMERS & MERCHANTS TRUST Co OF LONG BEACH now owns 1,825 shares of the real estate investment trust's stock valued at $269,000 after buying an additional 80 shares during the last quarter. Naviter Wealth LLC boosted its position in Extra Space Storage by 0.6% during the first quarter. Naviter Wealth LLC now owns 13,645 shares of the real estate investment trust's stock worth $2,007,000 after acquiring an additional 82 shares during the last quarter. Taylor Frigon Capital Management LLC boosted its position in 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 acquiring an additional 93 shares during the last quarter. Finally, Farther Finance Advisors LLC boosted its position in Extra Space Storage by 6.5% during the second quarter. Farther Finance Advisors LLC now owns 1,559 shares of the real estate investment trust's stock worth $230,000 after acquiring an additional 95 shares during the last quarter. 99.11% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at Extra Space Storage

In other news, CEO Joseph D. Margolis sold 7,500 shares of the company's stock in a transaction dated Wednesday, October 1st. The stock was sold at an average price of $141.41, for a total value of $1,060,575.00. Following the completion of the sale, the chief executive officer owned 19,760 shares of the company's stock, valued at $2,794,261.60. This represents a 27.51% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.96% of the stock is owned by insiders.

Extra Space Storage Price Performance

EXR stock opened at $149.15 on Thursday. The stock has a 50-day moving average price of $141.65 and a two-hundred day moving average price of $144.39. Extra Space Storage Inc has a 12-month low of $121.03 and a 12-month high of $175.57. 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 has a market cap of $31.66 billion, a PE ratio of 32.35, a price-to-earnings-growth ratio of 3.58 and a beta of 1.11.

Extra Space Storage (NYSE:EXR - Get Free Report) last posted its quarterly earnings results on Wednesday, July 30th. The real estate investment trust reported $2.05 earnings per share (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 firm had revenue of $841.62 million for the quarter, compared to analysts' expectations of $719.43 million. During the same period last year, the firm posted $2.06 EPS. Extra Space Storage'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. As a group, research analysts predict that Extra Space Storage Inc will post 8.1 EPS for the current year.

Extra Space Storage Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, September 30th. Stockholders of record on Monday, September 15th were given a $1.62 dividend. The ex-dividend date of this dividend was Monday, September 15th. This represents a $6.48 annualized dividend and a dividend yield of 4.3%. Extra Space Storage's dividend payout ratio is presently 140.56%.

Analysts Set New Price Targets

A number of brokerages recently issued reports on EXR. Citigroup decreased their target price on shares of Extra Space Storage from $165.00 to $150.00 and set a "neutral" rating on the stock in a research report on Friday, August 22nd. Weiss Ratings reiterated a "hold (c)" rating on shares of Extra Space Storage in a research note on Wednesday, October 8th. Wells Fargo & Company upgraded Extra Space Storage from an "equal weight" rating to an "overweight" rating and set a $160.00 target price for the company in a research note on Tuesday, August 26th. BNP Paribas Exane initiated coverage on Extra Space Storage in a research note on Tuesday, June 24th. They issued a "neutral" rating and a $156.00 target price for the company. Finally, Scotiabank dropped their target price on Extra Space Storage from $166.00 to $162.00 and set a "sector outperform" rating for the company in a research note on Thursday, August 28th. Six analysts have rated the stock with a Buy rating, nine have given a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Hold" and an average price target of $148.64.

About Extra Space Storage

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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