Extra Space Storage Inc $EXR Shares Acquired by CHURCHILL MANAGEMENT Corp

Key Points

• CHURCHILL MANAGEMENT Corp increased its stake in Extra Space Storage Inc by 4.4%, holding 64,634 shares valued at $9.53 million as of the latest reporting period.
• Extra Space Storage's recent quarterly earnings showed a miss of analysts' estimates with earnings per share of $2.05, while revenue exceeded expectations at $841.62 million.
• The company declared a quarterly dividend of $1.62 per share, resulting in an annualized yield of 4.6%, although its dividend payout ratio stands at 140.56%.

CHURCHILL MANAGEMENT Corp raised its stake in shares of Extra Space Storage Inc (NYSE:EXR - Free Report) by 4.4% in the 2nd quarter, according to its most recent Form 13F filing with the SEC. The fund owned 64,634 shares of the real estate investment trust's stock after purchasing an additional 2,706 shares during the period. CHURCHILL MANAGEMENT Corp's holdings in Extra Space Storage were worth $9,530,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently bought and sold shares of EXR. JPMorgan Chase & Co. increased its position in Extra Space Storage by 205.7% during the first quarter. JPMorgan Chase & Co. now owns 4,094,555 shares of the real estate investment trust's stock worth $608,001,000 after purchasing an additional 2,755,265 shares during the last quarter. Nuveen LLC acquired a new position in Extra Space Storage during the first quarter worth approximately $257,917,000. AQR Capital Management LLC increased its position in Extra Space Storage by 570.3% during the first quarter. AQR Capital Management LLC now owns 1,124,206 shares of the real estate investment trust's stock worth $166,180,000 after purchasing an additional 956,500 shares during the last quarter. Resolution Capital Ltd increased its position in Extra Space Storage by 259.1% during the first quarter. Resolution Capital Ltd now owns 902,157 shares of the real estate investment trust's stock worth $133,961,000 after purchasing an additional 650,957 shares during the last quarter. Finally, Invesco Ltd. increased its position in Extra Space Storage by 18.7% during the first quarter. Invesco Ltd. now owns 3,056,384 shares of the real estate investment trust's stock worth $453,843,000 after purchasing an additional 480,642 shares during the last quarter. Institutional investors and hedge funds own 99.11% of the company's stock.

Extra Space Storage Price Performance

EXR opened at $141.31 on Thursday. The company has a fifty day simple moving average of $141.68 and a 200 day simple moving average of $144.52. The firm has a market cap of $29.99 billion, a price-to-earnings ratio of 30.65, a PEG ratio of 3.42 and a beta of 1.11. Extra Space Storage Inc has a twelve month low of $121.03 and a twelve month high of $177.67. The company has a current ratio of 0.29, a quick ratio of 0.29 and a debt-to-equity ratio of 0.88.

Extra Space Storage (NYSE:EXR - Get Free Report) last released its quarterly earnings results on Wednesday, July 30th. The real estate investment trust reported $2.05 earnings per share for the quarter, missing analysts' consensus estimates of $2.06 by ($0.01). The firm had revenue of $841.62 million for the quarter, compared to analyst estimates of $719.43 million. Extra Space Storage had a net margin of 29.51% and a return on equity of 6.69%. Extra Space Storage's revenue for the quarter was up 3.8% on a year-over-year basis. During the same period in the previous year, the business posted $2.06 earnings per share. Extra Space Storage has set its FY 2025 guidance at 8.050-8.25 EPS. Equities research analysts expect that Extra Space Storage Inc will post 8.1 EPS for the current fiscal year.

Extra Space Storage Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, September 30th. Investors of record on Monday, September 15th were issued a dividend of $1.62 per share. This represents a $6.48 dividend on an annualized basis and a yield of 4.6%. The ex-dividend date of this dividend was Monday, September 15th. Extra Space Storage's dividend payout ratio (DPR) is presently 140.56%.

Wall Street Analysts Forecast Growth

EXR has been the subject of several research analyst reports. JPMorgan Chase & Co. upped their price target on shares of Extra Space Storage from $160.00 to $162.00 and gave the stock a "neutral" rating in a research report on Friday, June 13th. UBS Group decreased their price objective on shares of Extra Space Storage from $169.00 to $160.00 and set a "buy" rating for the company in a research note on Tuesday, September 16th. BNP Paribas Exane began coverage on shares of Extra Space Storage in a research note on Tuesday, June 24th. They set a "neutral" rating and a $156.00 price objective for the company. Scotiabank decreased their price objective on shares of 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. Finally, Evercore ISI boosted their price objective on shares of Extra Space Storage from $146.00 to $147.00 and gave the stock an "in-line" rating in a research note on Monday, September 15th. Six analysts have rated the stock with a Buy rating and nine have assigned a Hold rating to the stock. According to MarketBeat, Extra Space Storage has an average rating of "Hold" and a consensus price target of $148.50.

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.

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