Mattson Financial Services LLC Buys 3,187 Shares of Extra Space Storage Inc $EXR

Key Points

• Mattson Financial Services LLC increased its holdings in Extra Space Storage Inc (NYSE:EXR) by 17.7%, owning 21,231 shares worth approximately $3.15 million after purchasing 3,187 additional shares.
• Extra Space Storage reported $2.05 EPS for the last quarter, slightly missing the consensus estimate of $2.06, while its revenue was significantly above expectations at $841.62 million.
• The company announced a quarterly dividend of $1.62 per share, translating to an annualized dividend yield of 4.5% and a payout ratio of 140.56%.

Mattson Financial Services LLC increased its stake in shares of Extra Space Storage Inc (NYSE:EXR - Free Report) by 17.7% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 21,231 shares of the real estate investment trust's stock after acquiring an additional 3,187 shares during the quarter. Mattson Financial Services LLC's holdings in Extra Space Storage were worth $3,153,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also bought and sold shares of the stock. GKV Capital Management Co. Inc. bought a new stake in Extra Space Storage in the 1st quarter valued at $29,000. Zions Bancorporation National Association UT bought a new stake in Extra Space Storage in the 1st quarter valued at $50,000. Golden State Wealth Management LLC increased its holdings in Extra Space Storage by 147.0% in the 1st quarter. Golden State Wealth Management LLC now owns 405 shares of the real estate investment trust's stock valued at $60,000 after buying an additional 241 shares during the period. Wayfinding Financial LLC bought a new stake in Extra Space Storage in the 1st quarter valued at $76,000. Finally, Avalon Trust Co bought a new stake in Extra Space Storage in the 1st quarter valued at $79,000. Institutional investors own 99.11% of the company's stock.

Extra Space Storage Price Performance

NYSE EXR traded down $0.83 on Tuesday, hitting $142.91. 359,331 shares of the company were exchanged, compared to its average volume of 1,178,036. The firm has a 50 day moving average of $143.79 and a two-hundred day moving average of $145.41. The company has a market cap of $30.33 billion, a P/E ratio of 30.99, a P/E/G ratio of 3.56 and a beta of 1.09. 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 1-year low of $121.03 and a 1-year high of $184.87.

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 earnings per share (EPS) 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 analyst estimates of $719.43 million. Extra Space Storage had a return on equity of 6.69% and a net margin of 29.51%.The firm's quarterly revenue was up 3.8% on a year-over-year basis. During the same quarter last year, the company earned $2.06 EPS. Extra Space Storage has set its FY 2025 guidance at 8.050-8.25 EPS. On average, equities analysts predict that Extra Space Storage Inc will post 8.1 EPS for the current year.

Extra Space Storage Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, September 30th. Shareholders of record on Monday, September 15th will be given a dividend of $1.62 per share. The ex-dividend date is Monday, September 15th. This represents a $6.48 dividend on an annualized basis and a yield of 4.5%. Extra Space Storage's dividend payout ratio is presently 140.56%.

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 dated 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 transaction, the chief executive officer directly owned 27,260 shares in the company, valued at approximately $4,098,541. This represents a 21.58% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders own 1.36% of the company's stock.

Wall Street Analysts Forecast Growth

EXR has been the topic of several analyst reports. Royal Bank Of Canada lowered their price target on shares of Extra Space Storage from $160.00 to $148.00 and set a "sector perform" rating on the stock in a report on Monday, August 4th. Mizuho boosted their price target on shares of Extra Space Storage from $141.00 to $153.00 and gave the company an "outperform" rating in a report on Wednesday, May 28th. Barclays reduced their target price on shares of Extra Space Storage from $178.00 to $169.00 and set an "overweight" rating on the stock in a research note on Friday, August 8th. Scotiabank reduced their target price on shares of Extra Space Storage from $166.00 to $162.00 and set a "sector outperform" rating on the stock in a research note on Thursday, August 28th. Finally, BNP Paribas Exane initiated coverage on shares of Extra Space Storage in a research note on Tuesday, June 24th. They issued a "neutral" rating and a $156.00 target price on the stock. Seven equities research analysts have rated the stock with a Buy rating and nine have issued a Hold rating to the stock. Based on data from MarketBeat.com, Extra Space Storage presently has a consensus rating of "Hold" and a consensus target price of $152.20.

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.