Lecap Asset Management Ltd. purchased a new stake in Extra Space Storage Inc (NYSE:EXR - Free Report) in the 2nd quarter, according to the company in its most recent filing with the SEC. The institutional investor purchased 6,303 shares of the real estate investment trust's stock, valued at approximately $929,000.
Several other hedge funds and other institutional investors also recently bought and sold shares of EXR. Vanguard Group Inc. boosted its stake in shares of Extra Space Storage by 0.9% during the first quarter. Vanguard Group Inc. now owns 33,969,485 shares of the real estate investment trust's stock worth $5,044,129,000 after buying an additional 295,556 shares during the period. JPMorgan Chase & Co. increased its position in Extra Space Storage by 205.7% in the 1st quarter. JPMorgan Chase & Co. now owns 4,094,555 shares of the real estate investment trust's stock valued at $608,001,000 after acquiring an additional 2,755,265 shares during the period. Massachusetts Financial Services Co. MA raised its stake in Extra Space Storage by 0.4% during the 1st quarter. Massachusetts Financial Services Co. MA now owns 3,077,577 shares of the real estate investment trust's stock valued at $456,989,000 after acquiring an additional 12,607 shares during the last quarter. Invesco Ltd. lifted its position in Extra Space Storage by 18.7% during the 1st quarter. Invesco Ltd. now owns 3,056,384 shares of the real estate investment trust's stock worth $453,843,000 after acquiring an additional 480,642 shares during the period. Finally, Northern Trust Corp lifted its position in Extra Space Storage by 1.7% during the 1st quarter. Northern Trust Corp now owns 2,922,828 shares of the real estate investment trust's stock worth $434,011,000 after acquiring an additional 47,779 shares during the period. 99.11% of the stock is owned by hedge funds and other institutional investors.
Extra Space Storage Stock Performance
Shares of NYSE EXR opened at $141.39 on Friday. The company has a 50-day simple moving average of $141.50 and a 200-day simple moving average of $144.48. The company has a debt-to-equity ratio of 0.88, a current ratio of 0.29 and a quick ratio of 0.29. The company has a market cap of $30.01 billion, a PE ratio of 30.67, a price-to-earnings-growth ratio of 3.42 and a beta of 1.11. Extra Space Storage Inc has a 12 month low of $121.03 and a 12 month high of $177.67.
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 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 quarter in the previous year, the company posted $2.06 earnings per share. 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. On average, equities analysts anticipate that Extra Space Storage Inc will post 8.1 earnings per share for the current year.
Extra Space Storage Dividend Announcement
The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, September 30th. Stockholders of record on Monday, September 15th were given a $1.62 dividend. The ex-dividend date of this dividend was Monday, September 15th. This represents a $6.48 annualized dividend and a dividend yield of 4.6%. Extra Space Storage's dividend payout ratio is presently 140.56%.
Wall Street Analyst Weigh In
Several equities research analysts recently weighed in on the company. Wall Street Zen downgraded Extra Space Storage from a "hold" rating to a "sell" rating in a report on Friday, September 26th. Citigroup reduced their target price on shares of Extra Space Storage from $165.00 to $150.00 and set a "neutral" rating for the company in a research note on Friday, August 22nd. Evercore ISI lifted their target price on shares of Extra Space Storage from $146.00 to $147.00 and gave the company an "in-line" rating in a report on Monday, September 15th. Royal Bank Of Canada dropped their price target on shares of Extra Space Storage from $160.00 to $148.00 and set a "sector perform" rating on the stock in a research note on Monday, August 4th. Finally, Truist Financial reduced their price objective 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. Six research analysts have rated the stock with a Buy rating and nine have given a Hold rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of "Hold" and a consensus price target of $148.50.
View Our Latest Research Report 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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