IFM Investors Pty Ltd trimmed its position in Extra Space Storage Inc (NYSE:EXR - Free Report) by 8.4% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 73,901 shares of the real estate investment trust's stock after selling 6,736 shares during the period. IFM Investors Pty Ltd's holdings in Extra Space Storage were worth $10,896,000 at the end of the most recent quarter.
Other institutional investors and hedge funds have also recently bought and sold shares of the company. Lazard Asset Management LLC grew its position in Extra Space Storage by 1,710.8% during the fourth quarter. Lazard Asset Management LLC now owns 2,010 shares of the real estate investment trust's stock worth $300,000 after buying an additional 1,899 shares in the last quarter. Squarepoint Ops LLC raised its position in shares of Extra Space Storage by 286.3% in the 4th quarter. Squarepoint Ops LLC now owns 12,101 shares of the real estate investment trust's stock worth $1,810,000 after acquiring an additional 18,595 shares in the last quarter. Vise Technologies Inc. bought a new stake in Extra Space Storage in the 4th quarter valued at about $253,000. GF Fund Management CO. LTD. acquired a new position in Extra Space Storage during the 4th quarter valued at about $576,000. Finally, Wealth Management Strategies Inc. purchased a new position in shares of Extra Space Storage in the 4th quarter worth approximately $228,000. Institutional investors own 99.11% of the company's stock.
Extra Space Storage Trading Up 0.3%
Shares of EXR traded up $0.41 during mid-day trading on Tuesday, hitting $139.01. The company had a trading volume of 89,242 shares, compared to its average volume of 1,175,438. The business's 50-day simple moving average is $142.99 and its 200-day simple moving average is $144.92. 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 Inc has a 1-year low of $121.03 and a 1-year high of $183.08. The stock has a market cap of $29.50 billion, a PE ratio of 30.15, a P/E/G ratio of 3.38 and a beta of 1.09.
Extra Space Storage (NYSE:EXR - Get Free Report) last posted its earnings results on Wednesday, July 30th. The real estate investment trust reported $2.05 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 firm 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 firm posted $2.06 earnings per share. The company'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. Sell-side analysts forecast that Extra Space Storage Inc will post 8.1 earnings per share for the current year.
Extra Space Storage Dividend Announcement
The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 30th. Investors of record on Monday, September 15th will be issued a $1.62 dividend. The ex-dividend date is Monday, September 15th. This represents a $6.48 dividend on an annualized basis and a yield of 4.7%. Extra Space Storage's dividend payout ratio is currently 140.56%.
Insider Buying and Selling
In other Extra Space Storage news, CEO Joseph D. Margolis sold 7,500 shares of the company's stock in a transaction that occurred on Tuesday, July 1st. The stock was sold at an average price of $150.35, for a total transaction of $1,127,625.00. Following the completion of the sale, the chief executive officer owned 27,260 shares of the company's stock, valued at $4,098,541. This represents a 21.58% 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. Corporate insiders own 1.36% of the company's stock.
Wall Street Analyst Weigh In
A number of equities research analysts have issued reports on EXR shares. Mizuho boosted their target price on shares of Extra Space Storage from $141.00 to $153.00 and gave the company an "outperform" rating in a report on Wednesday, May 28th. Evercore ISI boosted their price objective on shares of Extra Space Storage from $146.00 to $147.00 and gave the stock an "in-line" rating in a report on Monday, September 15th. Royal Bank Of Canada cut their price objective on shares of Extra Space Storage from $160.00 to $148.00 and set a "sector perform" rating for the company in a research report on Monday, August 4th. BNP Paribas Exane began coverage on shares of Extra Space Storage in a report on Tuesday, June 24th. They issued a "neutral" rating and a $156.00 target price for the company. Finally, JPMorgan Chase & Co. boosted their price target on shares of Extra Space Storage from $160.00 to $162.00 and gave the stock a "neutral" rating in a research note on Friday, June 13th. Six research analysts have rated the stock with a Buy rating and nine have assigned a Hold rating to the company. According to data from MarketBeat, the stock presently has an average rating of "Hold" and a consensus price target of $148.50.
View Our Latest Stock Analysis on EXR
Extra Space Storage Company Profile
(
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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