Ethos Financial Group LLC Invests $384,000 in Extra Space Storage Inc $EXR

Key Points

• Ethos Financial Group LLC has acquired a new position in Extra Space Storage Inc., purchasing 2,583 shares valued at approximately $384,000 during the first quarter.
• Analysts have mixed opinions on Extra Space Storage, with a consensus rating of “Hold” and a price target averaging around $155.85, influenced by varying price adjustments from firms like Evercore ISI and Barclays.
• Extra Space Storage has announced a quarterly dividend of $1.62, representing a 4.7% dividend yield, but the payout ratio stands high at 140.56%.

Ethos Financial Group LLC acquired a new stake in Extra Space Storage Inc (NYSE:EXR - Free Report) during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 2,583 shares of the real estate investment trust's stock, valued at approximately $384,000.

Other large investors also recently modified their holdings of the company. GKV Capital Management Co. Inc. bought a new position in shares of Extra Space Storage in the first quarter valued at about $29,000. Zions Bancorporation National Association UT acquired a new position in shares of Extra Space Storage in the first quarter valued at about $50,000. Quarry LP grew its stake in shares of Extra Space Storage by 156.1% in the fourth quarter. Quarry LP now owns 356 shares of the real estate investment trust's stock valued at $53,000 after acquiring an additional 217 shares in the last quarter. Golden State Wealth Management LLC grew 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 valued at $60,000 after acquiring an additional 241 shares in the last quarter. Finally, Parvin Asset Management LLC acquired a new position in shares of Extra Space Storage in the fourth quarter valued at about $62,000. 99.11% of the stock is owned by institutional investors.

Extra Space Storage Price Performance

Shares of EXR traded up $3.6440 during mid-day trading on Friday, reaching $142.6740. The company had a trading volume of 940,363 shares, compared to its average volume of 1,193,073. The company's 50 day simple moving average is $145.34 and its 200 day simple moving average is $146.90. Extra Space Storage Inc has a 1-year low of $121.03 and a 1-year high of $184.87. The company has a debt-to-equity ratio of 0.88, a quick ratio of 0.29 and a current ratio of 0.29. The company has a market capitalization of $30.28 billion, a price-to-earnings ratio of 30.95, a P/E/G ratio of 3.38 and a beta of 1.07.

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 analysts' consensus estimates of $2.06 by ($0.01). The business had revenue of $841.62 million during the quarter, compared to the consensus estimate of $719.43 million. Extra Space Storage had a net margin of 29.51% and a return on equity of 6.69%. The firm's quarterly revenue was up 3.8% compared to the same quarter last year. During the same quarter last year, the business earned $2.06 EPS. Extra Space Storage has set its FY 2025 guidance at 8.050-8.25 EPS. Analysts expect that Extra Space Storage Inc will post 8.1 EPS for the current year.

Extra Space Storage Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 30th. Stockholders of record on Monday, September 15th will be given a dividend of $1.62 per share. The ex-dividend date of this dividend is Monday, September 15th. This represents a $6.48 annualized dividend and a dividend yield of 4.5%. Extra Space Storage's dividend payout ratio (DPR) is 140.56%.

Wall Street Analyst Weigh In

Several equities analysts recently commented on EXR shares. Truist Financial decreased their price target on shares of Extra Space Storage from $158.00 to $150.00 and set a "hold" rating on the stock in a research note on Tuesday. Scotiabank upped their price target on shares of Extra Space Storage from $149.00 to $166.00 and gave the company a "sector outperform" rating in a research note on Monday, May 12th. Wall Street Zen downgraded shares of Extra Space Storage from a "hold" rating to a "sell" rating in a research note on Saturday, August 16th. Mizuho upped their price target on shares of Extra Space Storage from $141.00 to $153.00 and gave the company an "outperform" rating in a research note on Wednesday, May 28th. Finally, Bank of America upped their price target on shares of Extra Space Storage from $155.00 to $161.00 and gave the company a "neutral" rating in a research note on Tuesday, May 13th. Six analysts have rated the stock with a Buy rating and ten have given a Hold rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of "Hold" and a consensus price target of $153.60.

Insider Activity at Extra Space Storage

In other news, CEO Joseph D. Margolis sold 7,500 shares of the firm's stock in a transaction that occurred on Tuesday, July 1st. The shares were sold at an average price of $150.35, for a total transaction of $1,127,625.00. Following the completion of the sale, 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 position. The sale was disclosed in a filing with the SEC, which is available through this link. 0.96% of the stock is currently owned by company insiders.

Extra Space Storage Company 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.