Diamond Hill Capital Management Inc. Sells 30,938 Shares of Extra Space Storage Inc $EXR

Key Points

• Diamond Hill Capital Management trimmed its stake in Extra Space Storage by 1.3% in the fourth quarter, selling 30,938 shares and ending with 2.38 million shares valued at about $310.3 million.
• Analysts remain mixed on EXR, with a consensus rating of Hold and an average price target of $151.00. Recent target changes included boosts from RBC and UBS, while Truist lowered its target and kept a hold view.
• Extra Space Storage reported Q1 earnings that missed EPS expectations at $1.14 versus $2.01, though revenue came in slightly above estimates. The company also announced a quarterly dividend of $1.62 per share, implying a 4.5% annualized yield.

Diamond Hill Capital Management Inc. lessened its position in shares of Extra Space Storage Inc (NYSE:EXR - Free Report) by 1.3% in the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 2,382,516 shares of the real estate investment trust's stock after selling 30,938 shares during the quarter. Extra Space Storage comprises 1.6% of Diamond Hill Capital Management Inc.'s holdings, making the stock its 22nd biggest position. Diamond Hill Capital Management Inc. owned 1.12% of Extra Space Storage worth $310,251,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Avalon Trust Co acquired a new position in shares of Extra Space Storage during the third quarter worth $28,000. Caitong International Asset Management Co. Ltd purchased a new position in Extra Space Storage during the 3rd quarter worth $28,000. Rosenberg Matthew Hamilton increased its position in Extra Space Storage by 442.9% during the 4th quarter. Rosenberg Matthew Hamilton now owns 266 shares of the real estate investment trust's stock valued at $35,000 after buying an additional 217 shares in the last quarter. Creative Financial Designs Inc. ADV increased its position in Extra Space Storage by 39.5% during the 4th quarter. Creative Financial Designs Inc. ADV now owns 325 shares of the real estate investment trust's stock valued at $42,000 after buying an additional 92 shares in the last quarter. Finally, Logan Capital Management Inc. raised its stake in Extra Space Storage by 313.7% in the third quarter. Logan Capital Management Inc. now owns 302 shares of the real estate investment trust's stock valued at $43,000 after buying an additional 229 shares during the last quarter. Hedge funds and other institutional investors own 99.11% of the company's stock.

Analysts Set New Price Targets

EXR has been the subject of several recent analyst reports. Royal Bank Of Canada raised their price target on Extra Space Storage from $142.00 to $153.00 and gave the stock a "sector perform" rating in a report on Monday, February 23rd. Weiss Ratings reaffirmed a "hold (c)" rating on shares of Extra Space Storage in a research report on Tuesday, April 21st. Truist Financial lowered their target price on shares of Extra Space Storage from $158.00 to $150.00 and set a "hold" rating for the company in a research note on Wednesday, May 6th. UBS Group boosted their target price on shares of Extra Space Storage from $148.00 to $158.00 and gave the stock a "buy" rating in a research report on Monday. Finally, JPMorgan Chase & Co. raised their price target on shares of Extra Space Storage from $142.00 to $144.00 and gave the stock a "neutral" rating in a report on Monday, March 23rd. Five research analysts have rated the stock with a Buy rating, nine have given a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of "Hold" and a consensus price target of $151.00.

Insider Activity

In related news, CEO Joseph D. Margolis sold 7,500 shares of the business's stock in a transaction on Friday, March 13th. The shares were sold at an average price of $142.08, for a total transaction of $1,065,600.00. Following the completion of the transaction, the chief executive officer directly owned 66,495 shares in the company, valued at $9,447,609.60. The trade was a 10.14% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. 0.96% of the stock is currently owned by company insiders.

Extra Space Storage Trading Up 1.2%

Shares of NYSE:EXR opened at $143.93 on Friday. The company has a quick ratio of 0.37, a current ratio of 0.37 and a debt-to-equity ratio of 0.93. Extra Space Storage Inc has a 52-week low of $125.71 and a 52-week high of $155.19. The stock has a market cap of $30.41 billion, a price-to-earnings ratio of 32.27, a PEG ratio of 4.63 and a beta of 1.22. The business has a 50-day moving average price of $138.67 and a 200-day moving average price of $137.96.

Extra Space Storage (NYSE:EXR - Get Free Report) last issued its earnings results on Tuesday, April 28th. The real estate investment trust reported $1.14 EPS for the quarter, missing analysts' consensus estimates of $2.01 by ($0.87). Extra Space Storage had a net margin of 27.66% and a return on equity of 6.65%. The firm had revenue of $856.03 million during the quarter, compared to analysts' expectations of $851.35 million. During the same quarter in the prior year, the company earned $2.00 EPS. Extra Space Storage's quarterly revenue was up 4.4% on a year-over-year basis. Extra Space Storage has set its FY 2026 guidance at 8.050-8.350 EPS. Equities analysts predict that Extra Space Storage Inc will post 8.23 EPS for the current year.

Extra Space Storage Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 30th. Stockholders of record on Monday, June 15th will be paid a $1.62 dividend. The ex-dividend date is Monday, June 15th. This represents a $6.48 dividend on an annualized basis and a dividend yield of 4.5%. Extra Space Storage's dividend payout ratio is presently 145.29%.

Extra Space Storage Company Profile

Extra Space Storage NYSE: EXR is a real estate investment trust that specializes in the ownership, development and operation of self-storage properties. The company provides storage solutions for residential and commercial customers, offering a range of unit sizes, climate-controlled units and specialized options such as vehicle and boat storage. Extra Space Storage markets itself as a customer-focused operator, with online rentals, contactless move-in options and ancillary retail products like packing supplies and insurance to support tenant needs.

Its business model combines property ownership with third-party management and development activities.

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