Eisler Capital Management Ltd. Purchases New Position in Extra Space Storage Inc $EXR

Key Points

• Eisler Capital Management Ltd. has acquired a new stake of 38,455 shares in Extra Space Storage Inc. (NYSE:EXR), valued at approximately $5.7 million.
• A quarterly dividend of $1.62 per share will be paid on September 30th, representing a 4.6% yield.
• Extra Space Storage's stock recently closed at $140.62, with a consensus rating of "Hold" and a price target of $153.60 among analysts.

Eisler Capital Management Ltd. purchased a new position in Extra Space Storage Inc (NYSE:EXR - Free Report) in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 38,455 shares of the real estate investment trust's stock, valued at approximately $5,709,000.

Other institutional investors and hedge funds have also recently modified their holdings of the company. GKV Capital Management Co. Inc. purchased a new position in shares of Extra Space Storage during the first quarter worth about $29,000. Zions Bancorporation National Association UT purchased a new position in shares of Extra Space Storage during the first quarter worth about $50,000. Quarry LP grew its holdings in shares of Extra Space Storage by 156.1% during the fourth quarter. Quarry LP now owns 356 shares of the real estate investment trust's stock worth $53,000 after buying an additional 217 shares during the last quarter. Golden State Wealth Management LLC grew its holdings in shares of 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 worth $60,000 after buying an additional 241 shares during the last quarter. Finally, Parvin Asset Management LLC purchased a new position in shares of Extra Space Storage during the fourth quarter worth about $62,000. Institutional investors and hedge funds own 99.11% of the company's stock.

Extra Space Storage Price Performance

Shares of Extra Space Storage stock traded up $1.41 during trading on Friday, hitting $143.73. 857,281 shares of the company were exchanged, compared to its average volume of 1,173,107. 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 Inc has a fifty-two week low of $121.03 and a fifty-two week high of $184.87. The stock has a market capitalization of $30.51 billion, a price-to-earnings ratio of 31.18, a P/E/G ratio of 3.45 and a beta of 1.07. The firm has a 50 day moving average price of $144.67 and a 200 day moving average price of $146.34.

Extra Space Storage (NYSE:EXR - Get Free Report) last issued its quarterly earnings data on Wednesday, July 30th. The real estate investment trust reported $2.05 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.06 by ($0.01). The company had revenue of $841.62 million for the quarter, compared to analyst estimates of $719.43 million. Extra Space Storage had a return on equity of 6.69% and a net margin of 29.51%.The company's revenue for the quarter was up 3.8% on a year-over-year basis. During the same quarter in the prior year, the firm earned $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 fiscal year.

Extra Space Storage Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, September 30th. Shareholders of record on Monday, September 15th will be issued a $1.62 dividend. The ex-dividend date is Monday, September 15th. This represents a $6.48 annualized dividend and a yield of 4.5%. Extra Space Storage's payout ratio is 140.56%.

Wall Street Analyst Weigh In

A number of research firms recently issued reports on EXR. Wall Street Zen raised Extra Space Storage from a "sell" rating to a "hold" rating in a report on Sunday, August 24th. Evercore ISI lowered their price objective on Extra Space Storage from $148.00 to $146.00 and set an "in-line" rating on the stock in a report on Monday, August 4th. Mizuho lifted their price objective on Extra Space Storage from $141.00 to $153.00 and gave the company an "outperform" rating in a report on Wednesday, May 28th. JPMorgan Chase & Co. lifted their price objective on Extra Space Storage from $160.00 to $162.00 and gave the company a "neutral" rating in a report on Friday, June 13th. Finally, The Goldman Sachs Group reaffirmed a "neutral" rating and issued a $146.00 price objective (down previously from $169.00) on shares of Extra Space Storage in a report on Thursday, August 21st. Seven equities research analysts have rated the stock with a Buy rating and nine have issued a Hold rating to the stock. According to MarketBeat.com, Extra Space Storage presently has an average rating of "Hold" and a consensus price target of $153.33.

Insiders Place Their Bets

In other Extra Space Storage news, CEO Joseph D. Margolis sold 7,500 shares of the business's stock in a transaction on Tuesday, July 1st. The stock was sold at an average price of $150.35, for a total value of $1,127,625.00. Following the completion of the transaction, the chief executive officer directly owned 27,260 shares in the company, valued at approximately $4,098,541. The trade was a 21.58% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Company insiders own 0.96% of the company's stock.

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.