Voya Investment Management LLC Increases Position in Extra Space Storage Inc $EXR

Key Points

• Voya Investment Management LLC increased its stake in Extra Space Storage by 422.6%, acquiring an additional 257,620 shares, bringing its total holdings to 318,582 shares valued at approximately $47.3 million.
• Extra Space Storage reported a Q2 EPS of $2.05, slightly missing analysts' expectations, with revenue of $841.62 million, up 3.8% from the previous year.
• The company announced a quarterly dividend of $1.62 per share, with a dividend yield of 4.4%, while the dividend payout ratio stands at 140.56%.

Voya Investment Management LLC increased its stake in Extra Space Storage Inc (NYSE:EXR - Free Report) by 422.6% during the first quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 318,582 shares of the real estate investment trust's stock after purchasing an additional 257,620 shares during the quarter. Voya Investment Management LLC owned approximately 0.15% of Extra Space Storage worth $47,306,000 at the end of the most recent quarter.

A number of other institutional investors also recently bought and sold shares of the stock. Siemens Fonds Invest GmbH lifted its holdings in shares of Extra Space Storage by 3.0% in the 4th quarter. Siemens Fonds Invest GmbH now owns 2,320 shares of the real estate investment trust's stock valued at $342,000 after acquiring an additional 68 shares during the last quarter. Exchange Traded Concepts LLC lifted its holdings in shares of Extra Space Storage by 8.5% in the 1st quarter. Exchange Traded Concepts LLC now owns 934 shares of the real estate investment trust's stock valued at $139,000 after acquiring an additional 73 shares during the last quarter. Naviter Wealth LLC lifted its holdings in shares of Extra Space Storage by 0.6% in the 1st quarter. Naviter Wealth LLC now owns 13,645 shares of the real estate investment trust's stock valued at $2,007,000 after acquiring an additional 82 shares during the last quarter. Mackenzie Financial Corp lifted its holdings in shares of Extra Space Storage by 0.5% in the 4th quarter. Mackenzie Financial Corp now owns 18,363 shares of the real estate investment trust's stock valued at $2,747,000 after acquiring an additional 90 shares during the last quarter. Finally, Taylor Frigon Capital Management LLC lifted its holdings in shares of Extra Space Storage by 0.8% in the 1st quarter. Taylor Frigon Capital Management LLC now owns 12,248 shares of the real estate investment trust's stock valued at $1,819,000 after acquiring an additional 93 shares during the last quarter. 99.11% of the stock is owned by institutional investors.

Extra Space Storage Trading Up 0.2%

Shares of Extra Space Storage stock traded up $0.26 on Thursday, hitting $143.44. 276,792 shares of the company traded hands, compared to its average volume of 1,174,025. The stock's 50 day moving average price is $143.55 and its 200-day moving average price is $145.38. 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 Inc has a 52 week low of $121.03 and a 52 week high of $183.49. The company has a market cap of $30.45 billion, a PE ratio of 31.11, a PEG ratio of 3.48 and a beta of 1.09.

Extra Space Storage (NYSE:EXR - Get Free Report) last posted its quarterly 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 company had revenue of $841.62 million for 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 business's revenue was up 3.8% on a year-over-year basis. During the same period in the prior year, the firm posted $2.06 EPS. Extra Space Storage has set its FY 2025 guidance at 8.050-8.25 EPS. Equities research analysts predict that Extra Space Storage Inc will post 8.1 EPS for the current year.

Extra Space Storage Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 30th. Investors of record on Monday, September 15th will be paid a $1.62 dividend. The ex-dividend date of this dividend is Monday, September 15th. This represents a $6.48 dividend on an annualized basis and a yield of 4.5%. Extra Space Storage's payout ratio is 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 on Tuesday, July 1st. The shares were sold at an average price of $150.35, for a total value of $1,127,625.00. Following the transaction, the chief executive officer directly owned 27,260 shares of the company's stock, valued at approximately $4,098,541. The trade was a 21.58% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.96% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

A number of brokerages recently commented on EXR. Wells Fargo & Company raised shares of Extra Space Storage from an "equal weight" rating to an "overweight" rating and set a $160.00 price target for the company in a report on Tuesday, August 26th. JPMorgan Chase & Co. increased their price target on shares of Extra Space Storage from $160.00 to $162.00 and gave the company a "neutral" rating in a report on Friday, June 13th. 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. Truist Financial decreased their price objective on shares of Extra Space Storage from $158.00 to $150.00 and set a "hold" rating for the company in a research note on Tuesday, August 19th. Finally, The Goldman Sachs Group reissued a "neutral" rating and issued a $146.00 price objective (down previously from $169.00) on shares of Extra Space Storage in a research note on Thursday, August 21st. Six investment analysts have rated the stock with a Buy rating and nine have issued a Hold rating to the company. According to data from MarketBeat, Extra Space Storage has an average rating of "Hold" and an average target price 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.