Extra Space Storage Inc $EXR Shares Bought by Voya Investment Management LLC

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 raised its stake in Extra Space Storage Inc (NYSE:EXR - Free Report) by 422.6% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 318,582 shares of the real estate investment trust's stock after acquiring 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 reporting period.

A number of other large investors also recently bought and sold shares of EXR. GKV Capital Management Co. Inc. acquired a new position in Extra Space Storage in the first quarter valued at approximately $29,000. Zions Bancorporation National Association UT acquired a new position in Extra Space Storage in the first quarter valued at approximately $50,000. Golden State Wealth Management LLC lifted its holdings in 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 during the period. Wayfinding Financial LLC acquired a new position in Extra Space Storage in the first quarter valued at approximately $76,000. Finally, Avalon Trust Co acquired a new position in Extra Space Storage in the first quarter valued at approximately $79,000. 99.11% of the stock is owned by institutional investors and hedge funds.

Extra Space Storage Stock Down 0.7%

Shares of EXR opened at $147.30 on Friday. The company has a debt-to-equity ratio of 0.88, a quick ratio of 0.29 and a current ratio of 0.29. Extra Space Storage Inc has a one year low of $121.03 and a one year high of $184.87. The stock has a market capitalization of $31.26 billion, a price-to-earnings ratio of 31.95, a PEG ratio of 3.59 and a beta of 1.09. The stock has a 50 day moving average price of $143.90 and a 200 day moving average price of $145.52.

Extra Space Storage (NYSE:EXR - Get Free Report) last issued its quarterly earnings results on Wednesday, July 30th. The real estate investment trust reported $2.05 EPS for the quarter, missing the consensus estimate of $2.06 by ($0.01). Extra Space Storage had a return on equity of 6.69% and a net margin of 29.51%.The firm had revenue of $841.62 million for the quarter, compared to analysts' expectations of $719.43 million. During the same quarter in the previous year, the firm posted $2.06 earnings per share. The firm's revenue for the quarter was up 3.8% compared to the same quarter last year. Extra Space Storage has set its FY 2025 guidance at 8.050-8.25 EPS. Equities research analysts forecast 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 issued a $1.62 dividend. This represents a $6.48 annualized dividend and a yield of 4.4%. The ex-dividend date is Monday, September 15th. Extra Space Storage's dividend payout ratio is presently 140.56%.

Analyst Ratings Changes

EXR has been the subject of several research analyst reports. Citigroup reduced their target price on Extra Space Storage from $165.00 to $150.00 and set a "neutral" rating for the company in a research note on Friday, August 22nd. Mizuho upped their target price on Extra Space Storage from $141.00 to $153.00 and gave the stock an "outperform" rating in a research note on Wednesday, May 28th. Truist Financial reduced their target price on 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. Scotiabank reduced their target price on 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, Wells Fargo & Company raised Extra Space Storage from an "equal weight" rating to an "overweight" rating and set a $160.00 target price for the company in a research note on Tuesday, August 26th. Six analysts have rated the stock with a Buy rating and nine have given a Hold rating to the company. According to MarketBeat.com, the stock currently has an average rating of "Hold" and an average target price of $151.57.

Insider Transactions at Extra Space Storage

In other Extra Space Storage news, CEO Joseph D. Margolis sold 7,500 shares of the company'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 sale, the chief executive officer directly owned 27,260 shares in the company, valued at $4,098,541. This represents a 21.58% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 0.96% of the stock is currently owned by 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.

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