MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its stake in Extra Space Storage Inc (NYSE:EXR - Free Report) by 34.4% during the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 28,409 shares of the real estate investment trust's stock after acquiring an additional 7,272 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd.'s holdings in Extra Space Storage were worth $4,201,000 as of its most recent SEC filing.
A number of other institutional investors also recently added to or reduced their stakes in the business. Vanguard Group Inc. boosted its holdings in Extra Space Storage by 0.9% in the 1st quarter. Vanguard Group Inc. now owns 33,969,485 shares of the real estate investment trust's stock valued at $5,044,129,000 after purchasing an additional 295,556 shares in the last quarter. JPMorgan Chase & Co. boosted its holdings in Extra Space Storage by 205.7% in the 1st quarter. JPMorgan Chase & Co. now owns 4,094,555 shares of the real estate investment trust's stock valued at $608,001,000 after purchasing an additional 2,755,265 shares in the last quarter. Massachusetts Financial Services Co. MA boosted its holdings in Extra Space Storage by 0.4% in the 1st quarter. Massachusetts Financial Services Co. MA now owns 3,077,577 shares of the real estate investment trust's stock valued at $456,989,000 after purchasing an additional 12,607 shares in the last quarter. Invesco Ltd. boosted its holdings in Extra Space Storage by 18.7% in the 1st quarter. Invesco Ltd. now owns 3,056,384 shares of the real estate investment trust's stock valued at $453,843,000 after purchasing an additional 480,642 shares in the last quarter. Finally, Northern Trust Corp boosted its holdings in Extra Space Storage by 1.7% in the 1st quarter. Northern Trust Corp now owns 2,922,828 shares of the real estate investment trust's stock valued at $434,011,000 after purchasing an additional 47,779 shares in the last quarter. Hedge funds and other institutional investors own 99.11% of the company's stock.
Extra Space Storage Trading Down 0.7%
Shares of EXR stock traded down $1.01 on Friday, reaching $147.30. 1,176,630 shares of the stock were exchanged, compared to its average volume of 992,388. The stock has a market cap of $31.26 billion, a P/E ratio of 31.95, a price-to-earnings-growth ratio of 3.59 and a beta of 1.09. The company has a quick ratio of 0.29, a current ratio of 0.29 and a debt-to-equity ratio of 0.88. The firm has a 50 day moving average of $143.90 and a two-hundred day moving average of $145.47. 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 released its quarterly earnings data on Wednesday, July 30th. The real estate investment trust reported $2.05 EPS for the quarter, missing analysts' consensus estimates of $2.06 by ($0.01). The firm 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 company's quarterly revenue was up 3.8% on a year-over-year basis. During the same quarter in the previous year, the company earned $2.06 earnings per share. Extra Space Storage has set its FY 2025 guidance at 8.050-8.25 EPS. On average, research analysts anticipate that Extra Space Storage Inc will post 8.1 EPS for the current year.
Extra Space Storage Dividend Announcement
The firm also recently declared a quarterly dividend, which will be paid on Tuesday, September 30th. Investors of record on Monday, September 15th will be given a dividend of $1.62 per share. This represents a $6.48 dividend on an annualized basis and a yield of 4.4%. The ex-dividend date of this dividend is Monday, September 15th. Extra Space Storage's dividend payout ratio is 140.56%.
Wall Street Analysts Forecast Growth
Several equities research analysts have recently commented on EXR shares. Truist Financial decreased their price target on Extra Space Storage from $158.00 to $150.00 and set a "hold" rating on the stock in a research note on Tuesday, August 19th. Evercore ISI cut their price target on Extra Space Storage from $148.00 to $146.00 and set an "in-line" rating for the company in a report on Monday, August 4th. JPMorgan Chase & Co. boosted their price target on Extra Space Storage from $160.00 to $162.00 and gave the company a "neutral" rating in a report on Friday, June 13th. Barclays cut their price target on Extra Space Storage from $178.00 to $169.00 and set an "overweight" rating for the company in a report on Friday, August 8th. Finally, BNP Paribas upgraded Extra Space Storage to a "hold" rating in a report on Tuesday, June 24th. Six research analysts have rated the stock with a Buy rating and nine have issued a Hold rating to the stock. According to MarketBeat.com, the stock presently has an average rating of "Hold" and an average price target of $151.57.
Read Our Latest Report on EXR
Insiders Place Their Bets
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 value of $1,127,625.00. Following the completion of the transaction, the chief executive officer directly owned 27,260 shares of the company's stock, valued at $4,098,541. This represents a 21.58% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Company insiders own 0.96% of the company's stock.
About Extra Space Storage
(
Free Report)
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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