Public Employees Retirement System of Ohio Grows Position in Extra Space Storage Inc $EXR

Key Points

• The Public Employees Retirement System of Ohio increased its holdings in Extra Space Storage Inc by 1.2% during the 2nd quarter, owning approximately 0.17% of the company valued at $54.39 million.
• Extra Space Storage reported $2.05 EPS for the last quarter, missing estimates slightly, while revenue of $841.62 million exceeded expectations by a notable margin.
• The company announced a quarterly dividend of $1.62, with an annualized yield of 4.7% and a payout ratio of 140.56%.

Public Employees Retirement System of Ohio raised its holdings in Extra Space Storage Inc (NYSE:EXR - Free Report) by 1.2% during the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 368,913 shares of the real estate investment trust's stock after acquiring an additional 4,541 shares during the period. Public Employees Retirement System of Ohio owned approximately 0.17% of Extra Space Storage worth $54,393,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently modified their holdings of the business. Siemens Fonds Invest GmbH raised its holdings in shares of Extra Space Storage by 3.0% in the 4th quarter. Siemens Fonds Invest GmbH now owns 2,320 shares of the real estate investment trust's stock valued at $342,000 after acquiring an additional 68 shares in the last quarter. Exchange Traded Concepts LLC increased its position in shares of Extra Space Storage by 8.5% during the 1st quarter. Exchange Traded Concepts LLC now owns 934 shares of the real estate investment trust's stock valued at $139,000 after purchasing an additional 73 shares during the last quarter. Naviter Wealth LLC increased its position in shares of Extra Space Storage by 0.6% during the 1st quarter. Naviter Wealth LLC now owns 13,645 shares of the real estate investment trust's stock valued at $2,007,000 after purchasing an additional 82 shares during the last quarter. Mackenzie Financial Corp increased its position in shares of Extra Space Storage by 0.5% during the 4th quarter. Mackenzie Financial Corp now owns 18,363 shares of the real estate investment trust's stock valued at $2,747,000 after purchasing an additional 90 shares during the last quarter. Finally, Taylor Frigon Capital Management LLC increased its position in shares of Extra Space Storage by 0.8% during the 1st quarter. Taylor Frigon Capital Management LLC now owns 12,248 shares of the real estate investment trust's stock valued at $1,819,000 after purchasing an additional 93 shares during the last quarter. Hedge funds and other institutional investors own 99.11% of the company's stock.

Insider Activity 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 stock was 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 $4,098,541. The trade was a 21.58% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. 1.36% of the stock is owned by insiders.

Extra Space Storage Trading Up 0.0%

EXR opened at $138.62 on Wednesday. The stock has a market cap of $29.42 billion, a PE ratio of 30.07, a PEG ratio of 3.36 and a beta of 1.09. The company has a quick ratio of 0.29, a current ratio of 0.29 and a debt-to-equity ratio of 0.88. The business has a 50 day moving average of $142.80 and a 200-day moving average of $144.88. Extra Space Storage Inc has a 52 week low of $121.03 and a 52 week high of $183.08.

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 analysts' consensus estimates of $2.06 by ($0.01). The firm had revenue of $841.62 million during the quarter, compared to analysts' expectations 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 in the previous year, the business earned $2.06 EPS. Extra Space Storage has set its FY 2025 guidance at 8.050-8.25 EPS. Equities research analysts predict 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. Investors 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 annualized dividend and a dividend yield of 4.7%. Extra Space Storage's payout ratio is presently 140.56%.

Wall Street Analysts Forecast Growth

EXR has been the topic of several recent research reports. Mizuho increased their price objective on Extra Space Storage from $141.00 to $153.00 and gave the company an "outperform" rating in a research report on Wednesday, May 28th. The Goldman Sachs Group reiterated a "neutral" rating and set a $146.00 price objective (down from $169.00) on shares of Extra Space Storage in a research report on Thursday, August 21st. Wall Street Zen upgraded Extra Space Storage from a "sell" rating to a "hold" rating in a research report on Tuesday, September 9th. Barclays reduced their price target on Extra Space Storage from $178.00 to $169.00 and set an "overweight" rating on the stock in a research report on Friday, August 8th. Finally, BNP Paribas Exane initiated coverage on Extra Space Storage in a research report on Tuesday, June 24th. They set a "neutral" rating and a $156.00 price target on the stock. Six analysts have rated the stock with a Buy rating and nine have assigned a Hold rating to the stock. According to MarketBeat, the company has a consensus rating of "Hold" and an average target price of $148.50.

About Extra Space Storage

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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