Bessemer Group Inc. Lowers Holdings in Extra Space Storage Inc (NYSE:EXR)

Bessemer Group Inc. decreased its holdings in Extra Space Storage Inc (NYSE:EXR - Free Report) by 58.7% in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 8,271 shares of the real estate investment trust's stock after selling 11,774 shares during the quarter. Bessemer Group Inc.'s holdings in Extra Space Storage were worth $1,228,000 as of its most recent SEC filing.

Other large investors also recently modified their holdings of the company. QRG Capital Management Inc. grew its position in shares of Extra Space Storage by 21.4% during the 1st quarter. QRG Capital Management Inc. now owns 2,684 shares of the real estate investment trust's stock worth $399,000 after buying an additional 474 shares during the period. Farther Finance Advisors LLC boosted its stake in shares of Extra Space Storage by 24.3% during the 1st quarter. Farther Finance Advisors LLC now owns 1,464 shares of the real estate investment trust's stock worth $216,000 after buying an additional 286 shares during the last quarter. CX Institutional bought a new stake in shares of Extra Space Storage during the 1st quarter worth approximately $127,000. Wealth Enhancement Advisory Services LLC lifted its stake in Extra Space Storage by 44.6% in the first quarter. Wealth Enhancement Advisory Services LLC now owns 22,593 shares of the real estate investment trust's stock valued at $3,355,000 after acquiring an additional 6,964 shares during the last quarter. Finally, Vaughan Nelson Investment Management L.P. increased its position in Extra Space Storage by 55.6% during the first quarter. Vaughan Nelson Investment Management L.P. now owns 198,515 shares of the real estate investment trust's stock worth $29,478,000 after buying an additional 70,965 shares during the last quarter. 99.11% of the stock is currently owned by institutional investors and hedge funds.

Extra Space Storage Price Performance

Shares of NYSE EXR traded up $2.99 during midday trading on Tuesday, reaching $150.43. The stock had a trading volume of 1,598,407 shares, compared to its average volume of 1,057,322. The company has a debt-to-equity ratio of 0.85, a quick ratio of 0.33 and a current ratio of 0.33. Extra Space Storage Inc has a 12-month low of $121.03 and a 12-month high of $184.87. The stock has a 50-day moving average of $147.68 and a 200-day moving average of $148.30. The company has a market capitalization of $31.92 billion, a price-to-earnings ratio of 34.90, a price-to-earnings-growth ratio of 3.58 and a beta of 1.10.

Extra Space Storage (NYSE:EXR - Get Free Report) last released its quarterly earnings results on Tuesday, April 29th. The real estate investment trust reported $2.00 earnings per share for the quarter, beating the consensus estimate of $1.96 by $0.04. The business had revenue of $820.00 million during the quarter, compared to analysts' expectations of $705.12 million. Extra Space Storage had a return on equity of 6.11% and a net margin of 27.84%. The firm's revenue for the quarter was up 2.6% compared to the same quarter last year. During the same quarter last year, the business posted $1.96 EPS. As a group, research analysts anticipate that Extra Space Storage Inc will post 8.1 EPS for the current fiscal year.

Extra Space Storage Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, June 30th. Stockholders of record on Monday, June 16th were given a dividend of $1.62 per share. This represents a $6.48 dividend on an annualized basis and a dividend yield of 4.31%. The ex-dividend date of this dividend was Monday, June 16th. Extra Space Storage's payout ratio is 150.35%.

Wall Street Analysts Forecast Growth

EXR has been the subject of a number of recent research reports. Evercore ISI boosted their price objective on shares of Extra Space Storage from $144.00 to $149.00 and gave the company an "in-line" rating in a report on Thursday, May 1st. Mizuho raised their target price on shares of Extra Space Storage from $141.00 to $153.00 and gave the company an "outperform" rating in a research report on Wednesday, May 28th. Wall Street Zen raised Extra Space Storage from a "sell" rating to a "hold" rating in a research note on Wednesday, April 30th. BNP Paribas upgraded Extra Space Storage to a "hold" rating in a research report on Tuesday, June 24th. Finally, The Goldman Sachs Group reaffirmed a "buy" rating on shares of Extra Space Storage in a research report on Thursday, March 6th. Nine research analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of "Hold" and a consensus price target of $159.29.

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.