Robeco Institutional Asset Management B.V. Acquires 16,897 Shares of Extra Space Storage Inc $EXR

Key Points

• Robeco Institutional Asset Management B.V. increased its holdings in Extra Space Storage Inc by 16.6% in Q2, owning 118,675 shares valued at approximately $17.5 million after acquiring an additional 16,897 shares.
• Extra Space Storage is experiencing a strong institutional interest, with 99.11% of its shares owned by institutional investors, as notable funds continue to adjust their positions.
• The company recently declared a quarterly dividend of $1.62 per share, with a dividend yield of 4.5% and a payout ratio of 140.56%, indicating a high return for shareholders.

Robeco Institutional Asset Management B.V. lifted its holdings in shares of Extra Space Storage Inc (NYSE:EXR - Free Report) by 16.6% in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 118,675 shares of the real estate investment trust's stock after acquiring an additional 16,897 shares during the quarter. Robeco Institutional Asset Management B.V. owned 0.06% of Extra Space Storage worth $17,497,000 at the end of the most recent quarter.

A number of other hedge funds have also bought and sold shares of the business. Merit Financial Group LLC grew its stake in Extra Space Storage by 190.9% in the 1st quarter. Merit Financial Group LLC now owns 9,089 shares of the real estate investment trust's stock valued at $1,350,000 after purchasing an additional 5,965 shares during the period. Vert Asset Management LLC boosted its holdings in shares of Extra Space Storage by 6.2% in the 1st quarter. Vert Asset Management LLC now owns 99,270 shares of the real estate investment trust's stock worth $14,741,000 after buying an additional 5,797 shares during the last quarter. Courier Capital LLC grew its position in Extra Space Storage by 2.4% during the first quarter. Courier Capital LLC now owns 9,800 shares of the real estate investment trust's stock valued at $1,455,000 after buying an additional 229 shares during the period. Farther Finance Advisors LLC raised its position in Extra Space Storage by 24.3% in the first 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, Cetera Trust Company N.A boosted its stake in Extra Space Storage by 11.3% in the first quarter. Cetera Trust Company N.A now owns 1,971 shares of the real estate investment trust's stock valued at $293,000 after acquiring an additional 200 shares during the last quarter. 99.11% of the stock is currently owned by institutional investors.

Extra Space Storage Stock Up 1.1%

Shares of NYSE:EXR opened at $142.97 on Friday. The firm has a fifty day moving average price of $141.34 and a two-hundred day moving average price of $144.43. The company has a market cap of $30.35 billion, a price-to-earnings ratio of 31.01, a PEG ratio of 3.46 and a beta of 1.11. The company has a debt-to-equity ratio of 0.88, a current ratio of 0.29 and a quick ratio of 0.29. 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 issued its quarterly earnings data on Wednesday, July 30th. The real estate investment trust reported $2.05 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $2.06 by ($0.01). Extra Space Storage had a return on equity of 6.69% and a net margin of 29.51%.The business had revenue of $841.62 million during the quarter, compared to analysts' expectations of $719.43 million. During the same quarter last year, the business posted $2.06 EPS. The company's quarterly revenue was up 3.8% on a year-over-year basis. Extra Space Storage has set its FY 2025 guidance at 8.050-8.25 EPS. Analysts anticipate that Extra Space Storage Inc will post 8.1 EPS for the current fiscal year.

Extra Space Storage Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, September 30th. Stockholders of record on Monday, September 15th were issued a dividend of $1.62 per share. The ex-dividend date of this dividend was Monday, September 15th. This represents a $6.48 annualized dividend and a dividend yield of 4.5%. Extra Space Storage's payout ratio is presently 140.56%.

Analyst Upgrades and Downgrades

Several equities research analysts have recently issued reports on the stock. Royal Bank Of Canada decreased 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. The Goldman Sachs Group reissued a "neutral" rating and set a $146.00 price objective (down from $169.00) on shares of Extra Space Storage in a report on Thursday, August 21st. Evercore ISI boosted their target price on Extra Space Storage from $147.00 to $149.00 and gave the company a "cautious" rating in a research note on Friday. Barclays dropped 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, Citigroup cut their price target on 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. Six investment analysts have rated the stock with a Buy rating, nine have given a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the stock has a consensus rating of "Hold" and an average target price of $148.64.

Insiders Place Their Bets

In other Extra Space Storage news, CEO Joseph D. Margolis sold 7,500 shares of Extra Space Storage stock in a transaction that occurred 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. The trade was a 27.51% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. 0.96% of the stock is owned by corporate insiders.

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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