Extra Space Storage Inc $EXR Stock Holdings Increased by Mattson Financial Services LLC

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 boosted its position in Extra Space Storage Inc (NYSE:EXR - Free Report) by 17.7% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 21,231 shares of the real estate investment trust's stock after buying 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 quarter.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. GKV Capital Management Co. Inc. bought a new stake in Extra Space Storage in the first quarter valued at about $29,000. Zions Bancorporation National Association UT bought a new stake in Extra Space Storage in the first quarter valued at about $50,000. Golden State Wealth Management LLC increased 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 buying an additional 241 shares during the last quarter. Wayfinding Financial LLC bought a new stake in Extra Space Storage in the first quarter valued at about $76,000. Finally, Avalon Trust Co bought a new stake in Extra Space Storage in the first quarter valued at about $79,000. 99.11% of the stock is owned by institutional investors.

Extra Space Storage Stock Performance

Shares of EXR opened at $145.27 on Thursday. Extra Space Storage Inc has a 1 year low of $121.03 and a 1 year high of $184.87. The company has a market cap of $30.83 billion, a price-to-earnings ratio of 31.51, a price-to-earnings-growth ratio of 3.51 and a beta of 1.09. The company has a debt-to-equity ratio of 0.88, a quick ratio of 0.29 and a current ratio of 0.29. The firm has a fifty day moving average of $144.09 and a 200-day moving average of $145.75.

Extra Space Storage (NYSE:EXR - Get Free Report) last issued its quarterly earnings data 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 business 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 business's quarterly revenue was up 3.8% on a year-over-year basis. During the same quarter in the prior year, the firm posted $2.06 earnings per share. Extra Space Storage has set its FY 2025 guidance at 8.050-8.25 EPS. As a group, equities analysts anticipate that Extra Space Storage Inc will post 8.1 earnings per share 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. Stockholders 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 annualized dividend and a dividend yield of 4.5%. Extra Space Storage's payout ratio is currently 140.56%.

Analyst Upgrades and Downgrades

Several brokerages recently weighed in on EXR. BNP Paribas Exane began coverage on Extra Space Storage in a report on Tuesday, June 24th. They issued a "neutral" rating and a $156.00 price objective for the company. Citigroup decreased 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 lifted their target price on Extra Space Storage from $141.00 to $153.00 and gave the company an "outperform" rating in a research note on Wednesday, May 28th. Wall Street Zen upgraded Extra Space Storage from a "sell" rating to a "hold" rating in a research note on Tuesday. Finally, Scotiabank decreased 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. Six research analysts have rated the stock with a Buy rating and nine have assigned a Hold rating to the stock. According to data from MarketBeat, the company presently has an average rating of "Hold" and a consensus target price of $151.57.

Insider Activity

In other news, CEO Joseph D. Margolis sold 7,500 shares of the business's stock in a transaction that occurred on Tuesday, July 1st. The stock was sold at an average price of $150.35, for a total transaction 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 approximately $4,098,541. The trade was a 21.58% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Corporate insiders own 0.96% of the company's stock.

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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