Fiduciary Family Office LLC Invests $250,000 in Extra Space Storage Inc $EXR

Key Points

• Fiduciary Family Office LLC invested $250,000 in Extra Space Storage Inc, acquiring 1,694 shares during the second quarter.
• CEO Joseph D. Margolis sold 7,500 shares for over $1 million, reducing his ownership by 27.51%.
• Extra Space Storage's quarterly earnings missed estimates, with a reported EPS of $2.05 compared to a consensus estimate of $2.06.

Fiduciary Family Office LLC acquired a new stake in shares of Extra Space Storage Inc (NYSE:EXR - Free Report) during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 1,694 shares of the real estate investment trust's stock, valued at approximately $250,000.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. GKV Capital Management Co. Inc. purchased a new stake in Extra Space Storage during the first quarter valued at approximately $29,000. Chung Wu Investment Group LLC purchased a new stake in Extra Space Storage during the second quarter valued at approximately $29,000. Zions Bancorporation National Association UT purchased a new stake in Extra Space Storage during the first quarter valued at approximately $50,000. Golden State Wealth Management LLC raised its position in Extra Space Storage by 147.0% during the first quarter. Golden State Wealth Management LLC now owns 405 shares of the real estate investment trust's stock valued at $60,000 after purchasing an additional 241 shares during the period. Finally, Ameritas Advisory Services LLC purchased a new stake in Extra Space Storage during the second quarter valued at approximately $75,000. 99.11% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at Extra Space Storage

In related news, CEO Joseph D. Margolis sold 7,500 shares of the stock in a transaction that occurred on Wednesday, October 1st. The stock was sold at an average price of $141.41, for a total value of $1,060,575.00. Following the transaction, the chief executive officer owned 19,760 shares of the company's stock, valued at $2,794,261.60. This represents a 27.51% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 1.36% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

A number of brokerages have issued reports on EXR. BNP Paribas upgraded Extra Space Storage to a "hold" rating in a research report on Tuesday, June 24th. Wall Street Zen upgraded Extra Space Storage from a "sell" rating to a "hold" rating in a research report on Saturday, October 11th. Scotiabank decreased their price objective on Extra Space Storage from $166.00 to $162.00 and set a "sector outperform" rating on the stock in a research report on Thursday, August 28th. Wells Fargo & Company upgraded Extra Space Storage from an "equal weight" rating to an "overweight" rating and set a $160.00 price target on the stock in a report on Tuesday, August 26th. Finally, Citigroup reduced their price target on Extra Space Storage from $165.00 to $150.00 and set a "neutral" rating on the stock in a report on Friday, August 22nd. Six equities research analysts have rated the stock with a Buy rating, nine have issued a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, the company presently has a consensus rating of "Hold" and a consensus target price of $148.64.

Extra Space Storage Stock Down 0.6%

Shares of NYSE:EXR opened at $150.63 on Wednesday. Extra Space Storage Inc has a 52-week low of $121.03 and a 52-week high of $175.57. The stock has a market cap of $31.97 billion, a P/E ratio of 32.67, a price-to-earnings-growth ratio of 2.73 and a beta of 1.11. The business's 50 day moving average is $142.85 and its 200 day moving average is $144.55. The company has a quick ratio of 0.29, a current ratio of 0.29 and a debt-to-equity ratio of 0.88.

Extra Space Storage (NYSE:EXR - Get Free Report) last announced its quarterly earnings data on Wednesday, July 30th. The real estate investment trust reported $2.05 earnings per share (EPS) for the quarter, missing the consensus estimate 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 during the quarter, compared to the consensus estimate of $719.43 million. During the same period last year, the company earned $2.06 EPS. The firm's revenue for the quarter was up 3.8% compared to the same quarter last year. Extra Space Storage has set its FY 2025 guidance at 8.050-8.25 EPS. Sell-side analysts predict that Extra Space Storage Inc will post 8.1 EPS for the current year.

Extra Space Storage Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, September 30th. Investors of record on Monday, September 15th were paid a $1.62 dividend. The ex-dividend date of this dividend was Monday, September 15th. This represents a $6.48 annualized dividend and a yield of 4.3%. Extra Space Storage's dividend payout ratio is 140.56%.

Extra Space Storage 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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