Jump Financial LLC Buys Shares of 3,599 Extra Space Storage Inc $EXR

Key Points

• Jump Financial LLC acquired a new stake in Extra Space Storage, purchasing 3,599 shares valued at approximately $534,000 during the first quarter.
• CEO Joseph D. Margolis sold 7,500 shares at an average price of $150.35, leading to a 21.58% decrease in his total shareholding.
• Extra Space Storage recently announced a quarterly dividend of $1.62 per share, with an annualized yield of 4.5%, although its payout ratio stands at 140.56%.

Jump Financial LLC acquired a new position in shares of Extra Space Storage Inc (NYSE:EXR - Free Report) in the 1st quarter, according to its most recent disclosure with the SEC. The fund acquired 3,599 shares of the real estate investment trust's stock, valued at approximately $534,000.

Several other institutional investors have also modified their holdings of the company. SVB Wealth LLC purchased a new stake in shares of Extra Space Storage during the 1st quarter worth $123,000. Cbre Investment Management Listed Real Assets LLC lifted its position in Extra Space Storage by 21.9% in the first quarter. Cbre Investment Management Listed Real Assets LLC now owns 1,328,469 shares of the real estate investment trust's stock valued at $197,264,000 after acquiring an additional 238,716 shares during the last quarter. Smartleaf Asset Management LLC lifted its position in Extra Space Storage by 56.4% in the first quarter. Smartleaf Asset Management LLC now owns 1,189 shares of the real estate investment trust's stock valued at $173,000 after acquiring an additional 429 shares during the last quarter. AlphaQuest LLC lifted its position in Extra Space Storage by 45,468.0% in the first quarter. AlphaQuest LLC now owns 22,784 shares of the real estate investment trust's stock valued at $3,383,000 after acquiring an additional 22,734 shares during the last quarter. Finally, Allstate Corp lifted its position in Extra Space Storage by 6.3% in the first quarter. Allstate Corp now owns 33,625 shares of the real estate investment trust's stock valued at $4,993,000 after acquiring an additional 1,996 shares during the last quarter. 99.11% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Extra Space Storage

In other Extra Space Storage news, CEO Joseph D. Margolis sold 7,500 shares of the stock in a transaction dated 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 transaction, the chief executive officer directly owned 27,260 shares of the company's stock, valued at approximately $4,098,541. This trade represents a 21.58% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Company insiders own 0.96% of the company's stock.

Extra Space Storage Stock Performance

NYSE:EXR traded up $2.46 during mid-day trading on Friday, reaching $146.30. The stock had a trading volume of 299,841 shares, compared to its average volume of 1,179,875. Extra Space Storage Inc has a twelve month low of $121.03 and a twelve month high of $184.87. The business has a 50 day simple moving average of $144.31 and a 200 day simple moving average of $146.00. The firm has a market capitalization of $31.05 billion, a price-to-earnings ratio of 31.73, a PEG ratio of 3.47 and a beta of 1.09. The company has a debt-to-equity ratio of 0.88, a quick ratio of 0.29 and a current 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 the consensus estimate of $2.06 by ($0.01). The business had revenue of $841.62 million for the quarter, compared to analyst estimates of $719.43 million. Extra Space Storage had a return on equity of 6.69% and a net margin of 29.51%.The business's revenue for the quarter was up 3.8% on a year-over-year basis. During the same quarter in the previous year, the firm posted $2.06 EPS. Extra Space Storage has set its FY 2025 guidance at 8.050-8.25 EPS. On average, analysts expect that Extra Space Storage Inc will post 8.1 earnings per share 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. Shareholders of record on Monday, September 15th will be issued 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 yield of 4.4%. Extra Space Storage's dividend payout ratio (DPR) is 140.56%.

Analyst Ratings Changes

EXR has been the subject of a number of research reports. BNP Paribas raised shares of Extra Space Storage to a "hold" rating in a research report on Tuesday, June 24th. The Goldman Sachs Group reissued a "neutral" rating and issued a $146.00 price target (down from $169.00) on shares of Extra Space Storage in a research report on Thursday, August 21st. Benchmark reduced their price target on shares of Extra Space Storage from $61.00 to $55.00 and set a "buy" rating for the company in a research report on Tuesday, May 13th. Truist Financial reduced their price target on shares of Extra Space Storage from $158.00 to $150.00 and set a "hold" rating for the company in a research report on Tuesday, August 19th. Finally, Bank of America increased their price target on shares of Extra Space Storage from $155.00 to $161.00 and gave the stock a "neutral" rating in a research note on Tuesday, May 13th. Seven investment analysts have rated the stock with a Buy rating and nine have given a Hold rating to the company's stock. According to data from MarketBeat.com, Extra Space Storage currently has an average rating of "Hold" and a consensus target price of $153.33.

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.