Extra Space Storage Inc $EXR Stock Sold by Gradient Investments LLC

Key Points

• Gradient Investments reduced its Extra Space Storage stake by 10.4% in the third quarter, selling 15,637 shares and retaining 134,714 shares valued at approximately $17.7 million. Institutional investors collectively own 99.11% of the REIT.
• Extra Space Storage shares recently traded at $131.75, near the lower end of their 52-week range of $125.71 to $158.88. The company reported quarterly EPS of $1.25, exceeding estimates, while revenue rose 3.9% year over year to $874.15 million.
• The REIT declared a quarterly dividend of $1.62 per share, equivalent to an annualized $6.48 payout and a 4.9% yield. Analysts maintain a consensus “Moderate Buy” rating with an average price target of $149.40.

Gradient Investments LLC lowered its stake in Extra Space Storage Inc (NYSE:EXR - Free Report) by 10.4% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 134,714 shares of the real estate investment trust's stock after selling 15,637 shares during the period. Gradient Investments LLC owned 0.06% of Extra Space Storage worth $17,716,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in the stock. Rosenberg Matthew Hamilton boosted its stake in shares of Extra Space Storage by 44.8% during the 3rd quarter. Rosenberg Matthew Hamilton now owns 705 shares of the real estate investment trust's stock valued at $93,000 after purchasing an additional 218 shares in the last quarter. Versant Capital Management Inc raised its stake in Extra Space Storage by 43.4% in the third quarter. Versant Capital Management Inc now owns 1,245 shares of the real estate investment trust's stock worth $164,000 after buying an additional 377 shares in the last quarter. QRG Capital Management Inc. lifted its holdings in Extra Space Storage by 17.2% in the second quarter. QRG Capital Management Inc. now owns 3,377 shares of the real estate investment trust's stock worth $491,000 after buying an additional 495 shares during the period. Security National Bank of SO Dak purchased a new stake in Extra Space Storage in the second quarter worth about $34,000. Finally, Van Hulzen Asset Management LLC boosted its position in Extra Space Storage by 2.8% during the 2nd quarter. Van Hulzen Asset Management LLC now owns 3,630 shares of the real estate investment trust's stock valued at $527,000 after acquiring an additional 100 shares in the last quarter. 99.11% of the stock is currently owned by institutional investors.

Extra Space Storage Stock Up 0.0%

Shares of EXR traded up $0.04 during mid-day trading on Thursday, reaching $131.75. The company had a trading volume of 718,140 shares, compared to its average volume of 1,256,084. The company has a debt-to-equity ratio of 0.96, a quick ratio of 1.56 and a current ratio of 1.56. The company has a market capitalization of $27.83 billion, a price-to-earnings ratio of 29.12, a price-to-earnings-growth ratio of 3.97 and a beta of 1.15. The firm has a 50-day moving average price of $141.05 and a 200 day moving average price of $142.16. Extra Space Storage Inc has a 52 week low of $125.71 and a 52 week high of $158.88.

Extra Space Storage (NYSE:EXR - Get Free Report) last announced its quarterly earnings data on Tuesday, July 28th. The real estate investment trust reported $1.25 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.16 by $0.09. Extra Space Storage had a return on equity of 6.70% and a net margin of 27.80%.The business had revenue of $874.15 million during the quarter, compared to analysts' expectations of $874.99 million. During the same quarter in the previous year, the business earned $2.05 earnings per share. The firm's quarterly revenue was up 3.9% compared to the same quarter last year. Extra Space Storage has set its FY 2026 guidance at 8.250-8.400 EPS. On average, sell-side analysts forecast that Extra Space Storage Inc will post 8.34 EPS for the current year.

Extra Space Storage Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, September 30th. Investors of record on Tuesday, September 15th were given a dividend of $1.62 per share. This represents a $6.48 annualized dividend and a yield of 4.9%. The ex-dividend date of this dividend was Tuesday, September 15th. Extra Space Storage's dividend payout ratio is 143.05%.

Analyst Upgrades and Downgrades

A number of research firms have weighed in on EXR. Raymond James Financial began coverage on Extra Space Storage in a report on Thursday, July 16th. They set an "outperform" rating and a $44.00 target price on the stock. Royal Bank Of Canada lifted their price target on Extra Space Storage from $153.00 to $157.00 and gave the company a "sector perform" rating in a research report on Thursday, July 30th. BMO Capital Markets raised Extra Space Storage from a "market perform" rating to an "outperform" rating and upped their price target for the stock from $160.00 to $170.00 in a research note on Thursday, August 27th. Wells Fargo & Company decreased their price objective on Extra Space Storage from $158.00 to $157.00 and set an "overweight" rating for the company in a report on Tuesday, September 1st. Finally, Mizuho dropped their target price on shares of Extra Space Storage from $155.00 to $152.00 and set an "outperform" rating on the stock in a report on Wednesday, September 2nd. Eight investment analysts have rated the stock with a Buy rating and eight have assigned a Hold rating to the company. According to data from MarketBeat, Extra Space Storage has a consensus rating of "Moderate Buy" and an average target price of $149.40.

About Extra Space Storage

Extra Space Storage Inc is a real estate investment trust (REIT) that owns, operates, manages and develops self-storage facilities. Its properties provide personal and business customers with space for storing household goods, vehicles, business inventory and other belongings in a range of unit sizes. Many facilities offer features such as climate-controlled units, drive-up access, online rentals and electronic payments.

The company also provides third-party management services for self-storage properties owned by other investors and participates in joint ventures.

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