Diversified Trust Co Takes Position in Extra Space Storage Inc $EXR

Key Points

• Diversified Trust Co has made a new investment of approximately $1.54 million in Extra Space Storage by acquiring 10,460 shares of the real estate investment trust.
• Extra Space Storage's stock price has decreased by 2.3% and currently trades at around $139.42 with a market capitalization of $29.59 billion.
• The company declared a quarterly dividend of $1.62, which represents an annualized dividend of $6.48 and a yield of 4.6%.

Diversified Trust Co acquired a new stake in Extra Space Storage Inc (NYSE:EXR - Free Report) in the 2nd quarter, according to the company in its most recent filing with the SEC. The firm acquired 10,460 shares of the real estate investment trust's stock, valued at approximately $1,542,000.

Other large investors also recently modified their holdings of the company. GKV Capital Management Co. Inc. bought a new position in Extra Space Storage in the 1st quarter valued at $29,000. Zions Bancorporation National Association UT bought a new position in shares of Extra Space Storage in the first quarter worth approximately $50,000. Golden State Wealth Management LLC lifted its position in Extra Space Storage by 147.0% during the first quarter. Golden State Wealth Management LLC now owns 405 shares of the real estate investment trust's stock valued at $60,000 after purchasing an additional 241 shares during the period. Wayfinding Financial LLC purchased a new stake in shares of Extra Space Storage in the first quarter worth $76,000. Finally, Avalon Trust Co purchased a new position in Extra Space Storage during the first quarter valued at $79,000. Hedge funds and other institutional investors own 99.11% of the company's stock.

Extra Space Storage Stock Performance

NYSE:EXR traded down $0.44 during midday trading on Monday, reaching $138.88. The stock had a trading volume of 884,076 shares, compared to its average volume of 1,030,913. The stock has a market cap of $29.48 billion, a P/E ratio of 30.13, a P/E/G 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 has a fifty day simple moving average of $142.99 and a two-hundred day simple moving average of $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 announced its earnings results 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). 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 during the quarter, compared to analyst estimates of $719.43 million. During the same period in the previous year, the firm posted $2.06 EPS. The company's revenue for the quarter was up 3.8% compared to the same quarter last year. 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 year.

Extra Space Storage Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, September 30th. Shareholders of record on Monday, September 15th will be given a $1.62 dividend. The ex-dividend date of this dividend is Monday, September 15th. This represents a $6.48 annualized dividend and a yield of 4.7%. Extra Space Storage's dividend payout ratio (DPR) is currently 140.56%.

Wall Street Analysts Forecast Growth

A number of brokerages recently weighed in on EXR. Wall Street Zen upgraded shares of Extra Space Storage from a "sell" rating to a "hold" rating in a report on Tuesday, September 9th. Citigroup decreased their price target on shares of Extra Space Storage from $165.00 to $150.00 and set a "neutral" rating for the company in a report on Friday, August 22nd. BNP Paribas Exane initiated coverage on shares of Extra Space Storage in a report on Tuesday, June 24th. They issued a "neutral" rating and a $156.00 price objective on the stock. Truist Financial dropped their price objective on shares of Extra Space Storage from $158.00 to $150.00 and set a "hold" rating on the stock in a report on Tuesday, August 19th. Finally, Evercore ISI boosted their target price on shares of Extra Space Storage from $146.00 to $147.00 and gave the company an "in-line" rating in a research note on Monday, September 15th. Six investment analysts have rated the stock with a Buy rating and nine have issued a Hold rating to the company's stock. According to MarketBeat, Extra Space Storage currently has a consensus rating of "Hold" and an average target price of $148.50.

Insider Activity

In related news, CEO Joseph D. Margolis sold 7,500 shares of the firm's stock in a transaction dated Tuesday, July 1st. The stock was sold at an average price of $150.35, for a total transaction of $1,127,625.00. Following the completion of the transaction, the chief executive officer 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 filing with the SEC, which is available through the SEC website. Insiders own 1.36% of the company's stock.

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.