Extra Space Storage Inc $EXR Stock Holdings Lowered by Gallacher Capital Management LLC

Key Points

• Gallacher Capital Management LLC reduced its stake in Extra Space Storage Inc by 47.1% in Q2, ending with around 4,158 shares valued at $613,000.
• Institutional investors collectively own 99.11% of Extra Space Storage's stock, with notable holdings increased by firms such as JPMorgan Chase & Co. and AQR Capital Management.
• Extra Space Storage recently announced a quarterly dividend of $1.62, representing an annualized yield of 4.4%, despite a dividend payout ratio of 140.56%.

Gallacher Capital Management LLC lessened its stake in Extra Space Storage Inc (NYSE:EXR - Free Report) by 47.1% in the second quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor 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 quarter.

A number of other institutional investors and hedge funds have also recently bought and sold shares of EXR. JPMorgan Chase & Co. lifted 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 acquiring an additional 2,755,265 shares during the last quarter. Nuveen LLC acquired a new stake in Extra Space Storage in the 1st quarter valued at about $257,917,000. AQR Capital Management LLC lifted its holdings in Extra Space Storage by 570.3% in the 1st quarter. AQR Capital Management LLC now owns 1,124,206 shares of the real estate investment trust's stock valued at $166,180,000 after acquiring an additional 956,500 shares during the last quarter. Resolution Capital Ltd lifted its holdings in Extra Space Storage by 259.1% in the 1st quarter. Resolution Capital Ltd now owns 902,157 shares of the real estate investment trust's stock valued at $133,961,000 after acquiring an additional 650,957 shares during the last quarter. Finally, Universal Beteiligungs und Servicegesellschaft mbH acquired a new stake in Extra Space Storage in the 4th quarter valued at about $74,984,000. Institutional investors own 99.11% of the company's stock.

Insider Buying and Selling at Extra Space Storage

In other news, CEO Joseph D. Margolis sold 7,500 shares of the company's stock in a transaction dated 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 transaction, the chief executive officer 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 document filed with the Securities & Exchange Commission, which is available at this link. 0.96% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

A number of equities research analysts have weighed in on the stock. Scotiabank cut their price target on shares of Extra Space Storage from $166.00 to $162.00 and set a "sector outperform" rating for the company in a report on Thursday, August 28th. Evercore ISI reduced their price objective on shares of Extra Space Storage from $148.00 to $146.00 and set an "in-line" rating for the company in a research note on Monday, August 4th. Mizuho upped their price objective on shares of Extra Space Storage from $141.00 to $153.00 and gave the company an "outperform" rating in a research note on Wednesday, May 28th. JPMorgan Chase & Co. upped their price objective on shares of Extra Space Storage from $160.00 to $162.00 and gave the company a "neutral" rating in a research note on Friday, June 13th. Finally, Truist Financial reduced 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 analysts have rated the stock with a Buy rating and nine have given a Hold rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Hold" and a consensus price target of $151.57.

Extra Space Storage Price Performance

Shares of EXR opened at $147.30 on Monday. The company has a market capitalization of $31.27 billion, a price-to-earnings ratio of 31.95, a P/E/G ratio of 3.56 and a beta of 1.09. Extra Space Storage Inc has a fifty-two week low of $121.03 and a fifty-two week high of $184.87. The company has a debt-to-equity ratio of 0.88, a current ratio of 0.29 and a quick ratio of 0.29. The business's 50-day moving average is $143.90 and its 200-day moving average is $145.47.

Extra Space Storage (NYSE:EXR - Get Free Report) last issued its earnings results on Wednesday, July 30th. The real estate investment trust reported $2.05 earnings per share for the quarter, missing analysts' consensus estimates of $2.06 by ($0.01). The business had revenue of $841.62 million during the quarter, compared to analyst estimates of $719.43 million. Extra Space Storage had a net margin of 29.51% and a return on equity of 6.69%. Extra Space Storage's revenue for the quarter was up 3.8% on a year-over-year basis. During the same quarter in the prior year, the company earned $2.06 EPS. Extra Space Storage has set its FY 2025 guidance at 8.050-8.25 EPS. Equities research analysts expect that Extra Space Storage Inc will post 8.1 EPS for the current fiscal year.

Extra Space Storage Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, September 30th. Stockholders of record on Monday, September 15th will be issued a $1.62 dividend. The ex-dividend date is Monday, September 15th. This represents a $6.48 dividend on an annualized basis and a dividend yield of 4.4%. Extra Space Storage's dividend payout ratio is currently 140.56%.

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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