Gallacher Capital Management LLC trimmed its stake in Extra Space Storage Inc (NYSE:EXR - Free Report) by 47.1% in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 4,158 shares of the real estate investment trust's stock after selling 3,701 shares during the period. Gallacher Capital Management LLC's holdings in Extra Space Storage were worth $613,000 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. Lazard Asset Management LLC grew its holdings in Extra Space Storage by 1,710.8% during the 4th quarter. Lazard Asset Management LLC now owns 2,010 shares of the real estate investment trust's stock worth $300,000 after acquiring an additional 1,899 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its stake in Extra Space Storage by 4.6% during the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 21,137 shares of the real estate investment trust's stock valued at $3,162,000 after purchasing an additional 933 shares during the last quarter. NorthRock Partners LLC bought a new position in shares of Extra Space Storage during the 4th quarter worth approximately $276,000. Quantinno Capital Management LP lifted its position in shares of Extra Space Storage by 3.9% during the 4th quarter. Quantinno Capital Management LP now owns 28,363 shares of the real estate investment trust's stock worth $4,243,000 after buying an additional 1,066 shares in the last quarter. Finally, ProShare Advisors LLC lifted its position in shares of Extra Space Storage by 7.4% during the 4th quarter. ProShare Advisors LLC now owns 38,609 shares of the real estate investment trust's stock worth $5,776,000 after buying an additional 2,644 shares in the last quarter. 99.11% of the stock is currently owned by institutional investors and hedge funds.
Analyst Ratings Changes
A number of equities research analysts recently commented on the stock. Mizuho lifted their price target on shares of Extra Space Storage from $141.00 to $153.00 and gave the stock an "outperform" rating in a report on Wednesday, May 28th. BNP Paribas upgraded shares of Extra Space Storage to a "hold" rating in a research report on Tuesday, June 24th. BNP Paribas Exane assumed coverage on shares of Extra Space Storage in a research note on Tuesday, June 24th. They issued a "neutral" rating and a $156.00 price target for the company. Citigroup lowered their price objective on shares of 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. Finally, Truist Financial lowered 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. Six investment analysts have rated the stock with a Buy rating and nine have assigned a Hold rating to the company's stock. Based on data from MarketBeat.com, Extra Space Storage currently has a consensus rating of "Hold" and an average target price of $148.50.
Read Our Latest Report on EXR
Extra Space Storage Price Performance
Shares of EXR stock traded down $1.69 on Friday, hitting $141.01. 518,928 shares of the stock traded hands, compared to its average volume of 1,173,580. The firm has a market cap of $29.93 billion, a price-to-earnings ratio of 30.66, a PEG ratio of 3.47 and a beta of 1.09. The firm has a 50 day simple moving average of $143.43 and a two-hundred day simple moving average of $145.30. Extra Space Storage Inc has a 52 week low of $121.03 and a 52 week high of $183.22. The company has a debt-to-equity ratio of 0.88, a current ratio of 0.29 and a quick ratio of 0.29.
Extra Space Storage (NYSE:EXR - Get Free Report) last released its quarterly earnings results 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). 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 period in the prior year, the firm posted $2.06 earnings per share. Extra Space Storage's revenue for the quarter was up 3.8% on a year-over-year basis. Extra Space Storage has set its FY 2025 guidance at 8.050-8.25 EPS. As a group, equities research analysts predict that Extra Space Storage Inc will post 8.1 earnings per share for the current fiscal year.
Extra Space Storage Announces Dividend
The company 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 $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 dividend yield of 4.6%. Extra Space Storage's payout ratio is presently 140.56%.
Insider Activity
In other news, CEO Joseph D. Margolis sold 7,500 shares of Extra Space Storage stock in a transaction that occurred 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 owned 27,260 shares of the company's stock, valued at $4,098,541. The trade was a 21.58% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. 0.96% of the stock is currently owned by insiders.
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.
See Also
Before you consider Extra Space Storage, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Extra Space Storage wasn't on the list.
While Extra Space Storage currently has a Hold rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
Nuclear energy stocks are roaring. It's the hottest energy sector of the year. Cameco Corp, Paladin Energy, and BWX Technologies were all up more than 40% in 2024. The biggest market moves could still be ahead of us, and there are seven nuclear energy stocks that could rise much higher in the next several months. To unlock these tickers, enter your email address below.
Get This Free Report
Like this article? Share it with a colleague.
Link copied to clipboard.
