Free Trial

IFM Investors Pty Ltd Cuts Stock Holdings in Extra Space Storage Inc $EXR

Extra Space Storage logo with Finance background

Key Points

  • IFM Investors Pty Ltd reduced its stakes in Extra Space Storage Inc by 7.2%, now holding 80,637 shares worth approximately $11.97 million.
  • The company announced a quarterly dividend of $1.62 per share, which translates to a 4.5% dividend yield and will be paid on September 30th.
  • Extra Space Storage reported a net margin of 29.51% with quarterly revenue of $841.62 million, exceeding analysts' expectations.
  • MarketBeat previews the top five stocks to own by November 1st.

IFM Investors Pty Ltd lessened its holdings in Extra Space Storage Inc (NYSE:EXR - Free Report) by 7.2% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 80,637 shares of the real estate investment trust's stock after selling 6,289 shares during the quarter. IFM Investors Pty Ltd's holdings in Extra Space Storage were worth $11,974,000 at the end of the most recent reporting period.

Other large investors have also added to or reduced their stakes in the company. D.A. Davidson & CO. raised its holdings in Extra Space Storage by 7.2% in the 1st quarter. D.A. Davidson & CO. now owns 1,895 shares of the real estate investment trust's stock valued at $281,000 after buying an additional 127 shares during the last quarter. Allspring Global Investments Holdings LLC raised its holdings in Extra Space Storage by 1.8% during the 1st quarter. Allspring Global Investments Holdings LLC now owns 22,222 shares of the real estate investment trust's stock worth $3,285,000 after purchasing an additional 398 shares during the last quarter. QRG Capital Management Inc. raised its holdings in 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 purchasing an additional 474 shares during the last quarter. Farther Finance Advisors LLC raised its holdings in 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 purchasing an additional 286 shares during the last quarter. Finally, IFP Advisors Inc raised its holdings in Extra Space Storage by 1,376.5% during the 1st quarter. IFP Advisors Inc now owns 1,698 shares of the real estate investment trust's stock worth $252,000 after purchasing an additional 1,583 shares during the last quarter. Institutional investors own 99.11% of the company's stock.

Extra Space Storage Stock Down 0.6%

NYSE EXR traded down $0.85 during mid-day trading on Tuesday, hitting $142.88. The company's stock had a trading volume of 359,331 shares, compared to its average volume of 1,178,036. The company's 50 day simple moving average is $143.79 and its 200 day simple moving average is $145.41. Extra Space Storage Inc has a twelve month low of $121.03 and a twelve month high of $184.87. The company has a current ratio of 0.29, a quick ratio of 0.29 and a debt-to-equity ratio of 0.88. The firm has a market capitalization of $30.33 billion, a price-to-earnings ratio of 30.99, a PEG ratio of 3.56 and a beta of 1.09.

Extra Space Storage (NYSE:EXR - Get Free Report) last posted its quarterly earnings results 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 net margin of 29.51% and a return on equity of 6.69%. The business had revenue of $841.62 million during the quarter, compared to analyst estimates of $719.43 million. During the same period in the previous year, the business posted $2.06 EPS. The business'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. Analysts anticipate that Extra Space Storage Inc will post 8.1 earnings per share for the current year.

Extra Space Storage Announces Dividend

The firm also recently declared 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 annualized dividend and a yield of 4.5%. Extra Space Storage's dividend payout ratio (DPR) is presently 140.56%.

Wall Street Analysts Forecast Growth

Several research firms have issued reports on EXR. Mizuho raised their price target on shares of Extra Space Storage from $141.00 to $153.00 and gave the stock an "outperform" rating in a report on Wednesday, May 28th. JPMorgan Chase & Co. raised their price target on shares of Extra Space Storage from $160.00 to $162.00 and gave the stock a "neutral" rating in a report on Friday, June 13th. Citigroup lowered their price target on shares of Extra Space Storage from $165.00 to $150.00 and set a "neutral" rating for the company in a report on Friday, August 22nd. BNP Paribas Exane initiated coverage on shares of Extra Space Storage in a report on Tuesday, June 24th. They set a "neutral" rating and a $156.00 price target for the company. Finally, Wells Fargo & Company upgraded shares of Extra Space Storage from an "equal weight" rating to an "overweight" rating and set a $160.00 price objective for the company in a research note on Tuesday, August 26th. Seven equities research analysts have rated the stock with a Buy rating and nine have given a Hold rating to the company. According to MarketBeat, the company has a consensus rating of "Hold" and an average target price of $152.20.

Read Our Latest Stock Analysis on Extra Space Storage

Insider Transactions at Extra Space Storage

In related news, CEO Joseph D. Margolis sold 7,500 shares of Extra Space Storage stock in a transaction on Tuesday, July 1st. The shares were sold at an average price of $150.35, for a total value 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 approximately $4,098,541. This trade represents a 21.58% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Insiders own 1.36% of the company's stock.

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.

Read More

Institutional Ownership by Quarter for Extra Space Storage (NYSE:EXR)

Should You Invest $1,000 in Extra Space Storage Right Now?

Before you consider Extra Space Storage, you'll want to hear this.

MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Extra Space Storage wasn't on the list.

While Extra Space Storage currently has a Hold rating among analysts, top-rated analysts believe these five stocks are better buys.

View The Five Stocks Here

 The Best Nuclear Energy Stocks to Buy Cover

Nuclear energy stocks are roaring. It's the hottest energy sector of the year. Cameco Corp, Paladin Energy, and BWX Technologies were all up more than 40% in 2024. The biggest market moves could still be ahead of us, and there are seven nuclear energy stocks that could rise much higher in the next several months. To unlock these tickers, enter your email address below.

Get This Free Report
Like this article? Share it with a colleague.