Extra Space Storage Inc $EXR Stock Holdings Lifted by Czech National Bank

Key Points

• Czech National Bank increased its holdings in Extra Space Storage Inc by 6.5%, bringing its total shares to 51,871, valued at approximately $7.65 million.
• Extra Space Storage reported a Q2 earnings per share of $2.05, slightly missing the consensus estimate, while its revenue increased by 3.8% year-over-year.
• The company declared a quarterly dividend of $1.62 per share, representing an annual yield of 4.5%, with a payout ratio of 140.56%.

Czech National Bank increased its holdings in Extra Space Storage Inc (NYSE:EXR - Free Report) by 6.5% in the 2nd quarter, according to its most recent disclosure with the SEC. The firm owned 51,871 shares of the real estate investment trust's stock after acquiring an additional 3,182 shares during the period. Czech National Bank's holdings in Extra Space Storage were worth $7,648,000 at the end of the most recent quarter.

Several other hedge funds also recently added to or reduced their stakes in the business. Vanguard Group Inc. boosted its position in shares of Extra Space Storage by 0.9% during the first quarter. Vanguard Group Inc. now owns 33,969,485 shares of the real estate investment trust's stock worth $5,044,129,000 after buying an additional 295,556 shares during the period. JPMorgan Chase & Co. boosted its position in shares of 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 buying an additional 2,755,265 shares during the period. Massachusetts Financial Services Co. MA boosted its position in shares of Extra Space Storage by 0.4% during the first quarter. Massachusetts Financial Services Co. MA now owns 3,077,577 shares of the real estate investment trust's stock worth $456,989,000 after buying an additional 12,607 shares during the period. Invesco Ltd. boosted its position in shares of 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 buying an additional 480,642 shares during the period. Finally, Northern Trust Corp boosted its position in shares of Extra Space Storage by 1.7% during the first quarter. Northern Trust Corp now owns 2,922,828 shares of the real estate investment trust's stock worth $434,011,000 after buying an additional 47,779 shares during the period. 99.11% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of research firms have weighed in on EXR. UBS Group cut their price target on Extra Space Storage from $169.00 to $160.00 and set a "buy" rating on the stock in a research note on Tuesday, September 16th. Evercore ISI lifted their target price on Extra Space Storage from $146.00 to $147.00 and gave the stock an "in-line" rating in a research report on Monday, September 15th. Wall Street Zen upgraded Extra Space Storage from a "sell" rating to a "hold" rating in a research report on Tuesday, September 9th. BNP Paribas Exane initiated coverage on Extra Space Storage in a report on Tuesday, June 24th. They issued a "neutral" rating and a $156.00 price objective on the stock. Finally, 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. Six analysts have rated the stock with a Buy rating and nine have issued a Hold rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of "Hold" and an average price target of $148.50.

Extra Space Storage Stock Down 2.3%

NYSE EXR traded down $3.28 during trading hours on Friday, hitting $139.42. The company had a trading volume of 2,182,091 shares, compared to its average volume of 968,832. Extra Space Storage Inc has a fifty-two week low of $121.03 and a fifty-two week high of $183.22. The company has a market capitalization of $29.59 billion, a price-to-earnings ratio of 30.24, a P/E/G ratio of 3.38 and a beta of 1.09. The company has a debt-to-equity ratio of 0.88, a current ratio of 0.29 and a quick ratio of 0.29. The firm's 50 day moving average is $143.22 and its 200 day moving average is $145.12.

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). The business 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%. The firm's revenue was up 3.8% on a year-over-year basis. During the same quarter in the prior year, the business earned $2.06 earnings per share. Extra Space Storage has set its FY 2025 guidance at 8.050-8.25 EPS. Sell-side analysts anticipate that Extra Space Storage Inc will post 8.1 earnings per share for the current fiscal 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 paid a $1.62 dividend. This represents a $6.48 dividend on an annualized basis and a yield of 4.6%. The ex-dividend date is Monday, September 15th. Extra Space Storage's payout ratio is presently 140.56%.

Insider Buying and Selling

In other Extra Space Storage news, CEO Joseph D. Margolis sold 7,500 shares of Extra Space Storage stock in a transaction that occurred 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 $4,098,541. The trade was a 21.58% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. 0.96% of the stock is currently owned by insiders.

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.