NorthRock Partners LLC Grows Holdings in Extra Space Storage Inc $EXR

Key Points

• NorthRock Partners LLC increased its stake in Extra Space Storage Inc by 123.2%, now holding 4,756 shares valued at around $701,000.
• Extra Space Storage's latest earnings report showed an EPS of $2.05, slightly missing expectations, but revenue was up 3.8% year-over-year.
• The company recently announced a quarterly dividend of $1.62, representing an annualized yield of 4.4%.

NorthRock Partners LLC grew its holdings in Extra Space Storage Inc (NYSE:EXR - Free Report) by 123.2% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 4,756 shares of the real estate investment trust's stock after purchasing an additional 2,625 shares during the period. NorthRock Partners LLC's holdings in Extra Space Storage were worth $701,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. Exchange Traded Concepts LLC increased its stake in Extra Space Storage by 8.5% in the first quarter. Exchange Traded Concepts LLC now owns 934 shares of the real estate investment trust's stock worth $139,000 after purchasing an additional 73 shares during the period. FARMERS & MERCHANTS TRUST Co OF LONG BEACH increased its stake in Extra Space Storage by 4.6% in the second quarter. FARMERS & MERCHANTS TRUST Co OF LONG BEACH now owns 1,825 shares of the real estate investment trust's stock worth $269,000 after purchasing an additional 80 shares during the period. Naviter Wealth LLC increased its stake in Extra Space Storage by 0.6% in the first quarter. Naviter Wealth LLC now owns 13,645 shares of the real estate investment trust's stock worth $2,007,000 after purchasing an additional 82 shares during the period. Taylor Frigon Capital Management LLC increased its stake in Extra Space Storage by 0.8% in the first quarter. Taylor Frigon Capital Management LLC now owns 12,248 shares of the real estate investment trust's stock worth $1,819,000 after purchasing an additional 93 shares during the period. Finally, Farther Finance Advisors LLC increased its stake in shares of Extra Space Storage by 6.5% during the second quarter. Farther Finance Advisors LLC now owns 1,559 shares of the real estate investment trust's stock valued at $230,000 after buying an additional 95 shares during the period. Hedge funds and other institutional investors own 99.11% of the company's stock.

Analyst Ratings Changes

Several research firms recently weighed in on EXR. Evercore ISI lifted their price objective on Extra Space Storage from $147.00 to $149.00 and gave the company a "cautious" rating in a report on Friday, October 3rd. UBS Group decreased their price objective on Extra Space Storage from $169.00 to $160.00 and set a "buy" rating for the company in a report on Tuesday, September 16th. Citigroup decreased their price objective on Extra Space Storage from $165.00 to $150.00 and set a "neutral" rating for the company in a report on Friday, August 22nd. Wall Street Zen upgraded Extra Space Storage from a "sell" rating to a "hold" rating in a report on Saturday. Finally, Truist Financial decreased their price objective on Extra Space Storage from $158.00 to $150.00 and set a "hold" rating for the company in a report on Tuesday, August 19th. Six research analysts have rated the stock with a Buy rating, nine have assigned a Hold rating and one has issued a Sell rating to the company's stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Hold" and an average price target of $148.64.

Extra Space Storage Stock Performance

Shares of Extra Space Storage stock opened at $147.98 on Wednesday. The company has a market capitalization of $31.41 billion, a PE ratio of 32.10, a P/E/G ratio of 3.52 and a beta of 1.11. The company has a debt-to-equity ratio of 0.88, a quick ratio of 0.29 and a current ratio of 0.29. The company has a 50-day simple moving average of $141.43 and a two-hundred day simple moving average of $144.35. Extra Space Storage Inc has a one year low of $121.03 and a one year high of $175.57.

Extra Space Storage (NYSE:EXR - Get Free Report) last announced 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). The firm had revenue of $841.62 million during the quarter, compared to the consensus estimate 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% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $2.06 earnings per share. Extra Space Storage has set its FY 2025 guidance at 8.050-8.25 EPS. Research analysts expect that Extra Space Storage Inc will post 8.1 EPS for the current fiscal year.

Extra Space Storage Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, September 30th. Shareholders of record on Monday, September 15th were issued a $1.62 dividend. The ex-dividend date was Monday, September 15th. This represents a $6.48 dividend on an annualized basis and a yield of 4.4%. Extra Space Storage's payout ratio is currently 140.56%.

Insider Buying and Selling at Extra Space Storage

In related news, CEO Joseph D. Margolis sold 7,500 shares of the stock in a transaction that occurred on Wednesday, October 1st. The shares were sold at an average price of $141.41, for a total value of $1,060,575.00. Following the completion of the transaction, the chief executive officer directly owned 19,760 shares of the company's stock, valued at $2,794,261.60. This trade represents a 27.51% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Insiders own 1.36% of the company's stock.

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.

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