2,585 Shares in Extra Space Storage Inc $EXR Purchased by PharVision Advisers LLC

Key Points

• PharVision Advisers LLC has purchased a new position in Extra Space Storage Inc, acquiring 2,585 shares valued at approximately $384,000.
• Extra Space Storage is set to pay a quarterly dividend of $1.62 on September 30, reflecting an annualized yield of 4.4%, despite a payout ratio of 140.56%.
• Recent earnings show a slight miss on EPS estimates at $2.05 compared to expectations of $2.06, although revenue reached $841.62 million, exceeding estimates.

PharVision Advisers LLC acquired a new position in shares of Extra Space Storage Inc (NYSE:EXR - Free Report) in the first quarter, according to its most recent 13F filing with the SEC. The institutional investor acquired 2,585 shares of the real estate investment trust's stock, valued at approximately $384,000.

Other institutional investors have also recently added to or reduced their stakes in the company. D.A. Davidson & CO. grew its stake in Extra Space Storage by 7.2% during the 1st quarter. D.A. Davidson & CO. now owns 1,895 shares of the real estate investment trust's stock worth $281,000 after buying an additional 127 shares during the last quarter. Allspring Global Investments Holdings LLC boosted its position 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 acquiring an additional 398 shares during the period. QRG Capital Management Inc. boosted its position 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 acquiring an additional 474 shares during the period. Farther Finance Advisors LLC boosted its position 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 acquiring an additional 286 shares during the period. Finally, IFP Advisors Inc boosted its position 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 acquiring an additional 1,583 shares during the period. 99.11% of the stock is currently owned by institutional investors.

Extra Space Storage Price Performance

Shares of Extra Space Storage stock traded down $0.25 during trading on Monday, hitting $147.03. The stock had a trading volume of 1,434,035 shares, compared to its average volume of 1,016,692. 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 firm has a market cap of $31.21 billion, a P/E ratio of 31.89, a PEG ratio of 3.56 and a beta of 1.09. The business has a fifty day moving average of $144.33 and a two-hundred day moving average of $145.76. Extra Space Storage Inc has a fifty-two week low of $121.03 and a fifty-two week high of $184.87.

Extra Space Storage (NYSE:EXR - Get Free Report) last released its quarterly earnings results on Wednesday, July 30th. The real estate investment trust reported $2.05 earnings per share for the quarter, missing analysts' consensus estimates of $2.06 by ($0.01). The company had revenue of $841.62 million during the quarter, compared to analyst estimates of $719.43 million. Extra Space Storage had a net margin of 29.51% and a return on equity of 6.69%. The company's revenue for the quarter was up 3.8% compared to the same quarter last year. During the same quarter last year, the business earned $2.06 EPS. Extra Space Storage has set its FY 2025 guidance at 8.050-8.25 EPS. On average, sell-side analysts expect that Extra Space Storage Inc will post 8.1 earnings per share for the current fiscal year.

Extra Space Storage Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 30th. Shareholders of record on Monday, September 15th will be paid a dividend of $1.62 per share. 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 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 dated Tuesday, July 1st. The shares were 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 directly owned 27,260 shares of the company's stock, valued at approximately $4,098,541. This represents a 21.58% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Corporate insiders own 0.96% of the company's stock.

Analyst Upgrades and Downgrades

EXR has been the subject of a number of analyst reports. The Goldman Sachs Group reiterated a "neutral" rating and set a $146.00 price target (down previously from $169.00) on shares of Extra Space Storage in a research report on Thursday, August 21st. Benchmark reduced their price target on 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. Royal Bank Of Canada reduced their price target on 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. Truist Financial reduced their price target on 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, Scotiabank cut their price objective on Extra Space Storage from $166.00 to $162.00 and set a "sector outperform" rating for the company in a report on Thursday, August 28th. Seven investment analysts have rated the stock with a Buy rating and nine have given a Hold rating to the stock. Based on data from MarketBeat, Extra Space Storage currently has a consensus rating of "Hold" and a consensus price target of $153.33.

Extra Space Storage Company 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.