RFG Advisory LLC Makes New Investment in Extra Space Storage Inc $EXR

Key Points

• RFG Advisory LLC has initiated a new investment in Extra Space Storage Inc, acquiring 3,607 shares valued at approximately $532,000.
• Extra Space Storage recently declared a quarterly dividend of $1.62 per share, which provides an annual yield of 4.3%, with a dividend payout ratio of 140.56%.
• The company's quarterly earnings report showed an EPS of $2.05, falling slightly short of analysts' expectations, although revenue of $841.62 million exceeded estimates.

RFG Advisory LLC purchased a new position in Extra Space Storage Inc (NYSE:EXR - Free Report) in the second quarter, according to the company in its most recent Form 13F filing with the SEC. The fund purchased 3,607 shares of the real estate investment trust's stock, valued at approximately $532,000.

Other hedge funds and other institutional investors have also bought and sold shares of the company. GKV Capital Management Co. Inc. purchased a new position in Extra Space Storage in the 1st quarter worth approximately $29,000. Chung Wu Investment Group LLC purchased a new position in Extra Space Storage in the 2nd quarter worth approximately $29,000. Zions Bancorporation National Association UT purchased a new position in Extra Space Storage in the 1st quarter worth approximately $50,000. Golden State Wealth Management LLC grew its stake in Extra Space Storage by 147.0% in the 1st quarter. Golden State Wealth Management LLC now owns 405 shares of the real estate investment trust's stock worth $60,000 after buying an additional 241 shares in the last quarter. Finally, Ameritas Advisory Services LLC purchased a new position in Extra Space Storage in the 2nd quarter worth approximately $75,000. Hedge funds and other institutional investors own 99.11% of the company's stock.

Extra Space Storage Trading Down 0.2%

NYSE:EXR opened at $151.66 on Friday. The company has a fifty day moving average of $142.23 and a 200 day moving average of $144.44. Extra Space Storage Inc has a 52 week low of $121.03 and a 52 week high of $175.57. 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 firm has a market capitalization of $32.19 billion, a P/E ratio of 32.90, a P/E/G ratio of 2.74 and a beta of 1.11.

Extra Space Storage (NYSE:EXR - Get Free Report) last posted its quarterly 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). Extra Space Storage had a net margin of 29.51% and a return on equity of 6.69%. The firm had revenue of $841.62 million for the quarter, compared to the consensus estimate of $719.43 million. During the same quarter in the prior year, the company earned $2.06 earnings per share. The company's quarterly revenue 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, research analysts predict that Extra Space Storage Inc will post 8.1 earnings per share for the current year.

Extra Space Storage Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, September 30th. Investors of record on Monday, September 15th were issued a dividend of $1.62 per share. This represents a $6.48 dividend on an annualized basis and a yield of 4.3%. The ex-dividend date was Monday, September 15th. Extra Space Storage's dividend payout ratio is currently 140.56%.

Insider Buying and Selling

In related news, CEO Joseph D. Margolis sold 7,500 shares of the company's stock in a transaction on Wednesday, October 1st. The shares were sold at an average price of $141.41, for a total transaction of $1,060,575.00. Following the completion of the sale, the chief executive officer directly owned 19,760 shares in the company, valued at $2,794,261.60. This represents a 27.51% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. 0.96% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of equities analysts have commented on the stock. Royal Bank Of Canada cut their price target on shares of Extra Space Storage from $160.00 to $148.00 and set a "sector perform" rating for the company in a research note on Monday, August 4th. UBS Group cut their price objective on shares of Extra Space Storage from $169.00 to $160.00 and set a "buy" rating for the company in a research note on Tuesday, September 16th. BNP Paribas raised shares of Extra Space Storage to a "hold" rating in a research note on Tuesday, June 24th. The Goldman Sachs Group reaffirmed a "neutral" rating and issued a $146.00 price objective (down previously from $169.00) on shares of Extra Space Storage in a research note on Thursday, August 21st. Finally, BNP Paribas Exane assumed coverage on shares of Extra Space Storage in a research note on Tuesday, June 24th. They issued a "neutral" rating and a $156.00 price objective for the company. Six research analysts have rated the stock with a Buy rating, nine have issued a Hold rating and one has issued a Sell rating to the company's stock. According to MarketBeat.com, the company presently has a consensus rating of "Hold" and an average target price of $148.64.

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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