Focus Partners Advisor Solutions LLC Invests $425,000 in Extra Space Storage Inc $EXR

Key Points

• Focus Partners Advisor Solutions LLC invested approximately $425,000 in Extra Space Storage Inc by acquiring 2,862 shares of the company during the 1st quarter.
• Extra Space Storage reported $2.05 earnings per share for the last quarter, which was slightly below analysts' estimates of $2.06, and had a revenue of $841.62 million.
• The company declared a quarterly dividend of $1.62 per share, with an annualized dividend yield of 4.4% and a payout ratio of 140.56%.

Focus Partners Advisor Solutions LLC purchased a new position in Extra Space Storage Inc (NYSE:EXR - Free Report) during the 1st quarter, according to its most recent 13F filing with the SEC. The firm purchased 2,862 shares of the real estate investment trust's stock, valued at approximately $425,000.

Several other hedge funds and other institutional investors have also made changes to their positions in the stock. Cubist Systematic Strategies LLC bought a new position in shares of Extra Space Storage in the 1st quarter worth $23,982,000. Graham Capital Management L.P. boosted its position in shares of Extra Space Storage by 116.7% in the 1st quarter. Graham Capital Management L.P. now owns 26,820 shares of the real estate investment trust's stock worth $3,983,000 after purchasing an additional 14,441 shares during the last quarter. Quarry LP boosted its position in shares of Extra Space Storage by 398.3% in the 1st quarter. Quarry LP now owns 1,774 shares of the real estate investment trust's stock worth $263,000 after purchasing an additional 1,418 shares during the last quarter. Nomura Holdings Inc. boosted its position in shares of Extra Space Storage by 67.1% in the 1st quarter. Nomura Holdings Inc. now owns 52,798 shares of the real estate investment trust's stock worth $7,840,000 after purchasing an additional 21,206 shares during the last quarter. Finally, Vident Advisory LLC boosted its position in shares of Extra Space Storage by 22.8% in the 1st quarter. Vident Advisory LLC now owns 17,498 shares of the real estate investment trust's stock worth $2,598,000 after purchasing an additional 3,244 shares during the last quarter. 99.11% of the stock is currently owned by institutional investors.

Extra Space Storage Stock Performance

EXR opened at $147.19 on Friday. The business's 50-day moving average price is $144.34 and its two-hundred day moving average price is $145.95. Extra Space Storage Inc has a 1 year low of $121.03 and a 1 year high of $184.87. The company has a market capitalization of $31.24 billion, a price-to-earnings ratio of 31.93, a P/E/G ratio of 3.48 and a beta of 1.09. 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 earnings results on Wednesday, July 30th. The real estate investment trust reported $2.05 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $2.06 by ($0.01). The company 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 was up 3.8% compared to the same quarter last year. During the same period in the prior year, the firm posted $2.06 EPS. Extra Space Storage has set its FY 2025 guidance at 8.050-8.25 EPS. Equities analysts expect that Extra Space Storage Inc will post 8.1 EPS for the current fiscal year.

Extra Space Storage Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, September 30th. Investors 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 4.4%. Extra Space Storage's payout ratio is currently 140.56%.

Wall Street Analyst Weigh In

Several research analysts have weighed in on EXR shares. Evercore ISI reduced their target price on Extra Space Storage from $148.00 to $146.00 and set an "in-line" rating on the stock in a report on Monday, August 4th. Mizuho lifted their target price on Extra Space Storage from $141.00 to $153.00 and gave the stock an "outperform" rating in a report on Wednesday, May 28th. Citigroup reduced their target price 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. The Goldman Sachs Group reiterated a "neutral" rating and set a $146.00 target price (down from $169.00) on shares of Extra Space Storage in a report on Thursday, August 21st. Finally, BNP Paribas upgraded Extra Space Storage to a "hold" rating in a report on Tuesday, June 24th. Seven equities research analysts have rated the stock with a Buy rating and nine have assigned a Hold rating to the company's stock. According to MarketBeat, the stock currently has a consensus rating of "Hold" and a consensus price target of $153.33.

Insider Activity

In related news, CEO Joseph D. Margolis sold 7,500 shares of Extra Space Storage 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 sale, the chief executive officer owned 27,260 shares of the company's stock, valued at approximately $4,098,541. The trade was a 21.58% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 0.96% of the company's stock.

About Extra Space Storage

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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