Guggenheim Capital LLC decreased its position in Extra Space Storage Inc (NYSE:EXR - Free Report) by 9.1% in the first quarter, according to its most recent Form 13F filing with the SEC. The firm owned 63,511 shares of the real estate investment trust's stock after selling 6,331 shares during the period. Guggenheim Capital LLC's holdings in Extra Space Storage were worth $9,431,000 at the end of the most recent quarter.
A number of other large investors have also recently modified their holdings of the company. Vanguard Group Inc. boosted its holdings in shares of Extra Space Storage by 0.9% in the first quarter. Vanguard Group Inc. now owns 33,969,485 shares of the real estate investment trust's stock valued at $5,044,129,000 after purchasing an additional 295,556 shares during the period. JPMorgan Chase & Co. boosted its holdings in shares of Extra Space Storage by 205.7% in the first quarter. JPMorgan Chase & Co. now owns 4,094,555 shares of the real estate investment trust's stock valued at $608,001,000 after purchasing an additional 2,755,265 shares during the period. Massachusetts Financial Services Co. MA lifted its holdings in Extra Space Storage by 0.4% during the first quarter. Massachusetts Financial Services Co. MA now owns 3,077,577 shares of the real estate investment trust's stock worth $456,989,000 after buying an additional 12,607 shares during the period. Invesco Ltd. lifted its holdings in Extra Space Storage by 18.7% during the first quarter. Invesco Ltd. now owns 3,056,384 shares of the real estate investment trust's stock worth $453,843,000 after buying an additional 480,642 shares during the period. Finally, Northern Trust Corp lifted its holdings in Extra Space Storage by 1.7% during the first quarter. Northern Trust Corp now owns 2,922,828 shares of the real estate investment trust's stock worth $434,011,000 after buying an additional 47,779 shares during the period. Hedge funds and other institutional investors own 99.11% of the company's stock.
Insider Activity
In related news, CEO Joseph D. Margolis sold 7,500 shares of the company's stock in a transaction on 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 directly owned 27,260 shares of the company's stock, valued at $4,098,541. This represents a 21.58% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 1.36% of the stock is currently owned by insiders.
Extra Space Storage Stock Up 1.0%
Shares of EXR stock traded up $1.41 during trading hours on Friday, reaching $143.73. 857,281 shares of the company's stock were exchanged, compared to its average volume of 1,056,304. The stock's 50 day moving average is $144.67 and its 200-day moving average is $146.21. The company has a market cap of $30.51 billion, a price-to-earnings ratio of 31.18, a P/E/G ratio of 3.47 and a beta of 1.09. The company has a current ratio of 0.29, a quick ratio of 0.29 and a debt-to-equity ratio of 0.88. Extra Space Storage Inc has a fifty-two week low of $121.03 and a fifty-two week high of $184.87.
Extra Space Storage (NYSE:EXR - Get Free Report) last issued its quarterly 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). Extra Space Storage had a return on equity of 6.69% and a net margin of 29.51%.The business had revenue of $841.62 million for the quarter, compared to analyst estimates of $719.43 million. During the same period in the previous year, the company posted $2.06 earnings per share. The business's revenue for the quarter was up 3.8% on a year-over-year basis. Extra Space Storage has set its FY 2025 guidance at 8.050-8.25 EPS. Analysts predict that Extra Space Storage Inc will post 8.1 earnings per share for the current fiscal year.
Extra Space Storage Announces Dividend
The company 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. This represents a $6.48 annualized dividend and a dividend yield of 4.5%. The ex-dividend date of this dividend is Monday, September 15th. Extra Space Storage's dividend payout ratio is presently 140.56%.
Analysts Set New Price Targets
A number of research firms have weighed in on EXR. JPMorgan Chase & Co. upped their target price on Extra Space Storage from $160.00 to $162.00 and gave the stock a "neutral" rating in a report on Friday, June 13th. Benchmark lowered their target price on Extra Space Storage from $61.00 to $55.00 and set a "buy" rating for the company in a report on Tuesday, May 13th. Barclays lowered their target price on Extra Space Storage from $178.00 to $169.00 and set an "overweight" rating for the company in a report on Friday, August 8th. The Goldman Sachs Group restated a "neutral" rating and set a $146.00 target price (down previously from $169.00) on shares of Extra Space Storage in a report on Thursday, August 21st. Finally, Scotiabank lowered their target price on Extra Space Storage from $166.00 to $162.00 and set a "sector outperform" rating for the company in a report on Thursday. Seven investment analysts have rated the stock with a Buy rating and nine have assigned a Hold rating to the company's stock. Based on data from MarketBeat, the company currently has a consensus rating of "Hold" and an average price target of $153.33.
Check Out Our Latest Analysis on EXR
About Extra Space Storage
(
Free Report)
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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