Sivia Capital Partners LLC Invests $457,000 in Extra Space Storage Inc $EXR

Key Points

• Sivia Capital Partners LLC has invested approximately $457,000 in Extra Space Storage Inc by purchasing 3,099 shares during the 2nd quarter.
• Extra Space Storage recently declared a quarterly dividend of $1.62 per share, with an annualized dividend yield of 4.5%.
• Analysts have mixed views on Extra Space Storage's stock, with a consensus price target of $148.50 and six analysts rating it as a "Buy".

Sivia Capital Partners LLC purchased a new stake in Extra Space Storage Inc (NYSE:EXR - Free Report) during the second quarter, according to its most recent disclosure with the SEC. The firm purchased 3,099 shares of the real estate investment trust's stock, valued at approximately $457,000.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. GKV Capital Management Co. Inc. purchased a new position in Extra Space Storage in the 1st quarter valued at about $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 lifted 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 purchasing an additional 241 shares in the last quarter. Wayfinding Financial LLC purchased a new position in Extra Space Storage in the 1st quarter worth approximately $76,000. Finally, Avalon Trust Co purchased a new position in Extra Space Storage in the 1st quarter worth approximately $79,000. 99.11% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Extra Space Storage

In other 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 value 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 sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 0.96% of the company's stock.

Extra Space Storage Stock Performance

Shares of Extra Space Storage stock traded down $3.28 on Friday, hitting $139.42. The stock had a trading volume of 2,182,091 shares, compared to its average volume of 968,832. The company's 50 day moving average price is $143.22 and its 200 day moving average price is $145.12. Extra Space Storage Inc has a 52-week low of $121.03 and a 52-week high of $183.22. The company has a current ratio of 0.29, a quick ratio of 0.29 and a debt-to-equity ratio of 0.88. The stock has a market cap of $29.59 billion, a price-to-earnings ratio of 30.24, a P/E/G ratio of 3.38 and a beta of 1.09.

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). Extra Space Storage had a net margin of 29.51% and a return on equity of 6.69%. The business had revenue of $841.62 million during the quarter, compared to analysts' expectations of $719.43 million. During the same period in the previous year, the company posted $2.06 earnings per share. Extra Space Storage'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. On average, research analysts anticipate that Extra Space Storage Inc will post 8.1 EPS for the current year.

Extra Space Storage Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, September 30th. Stockholders of record on Monday, September 15th will be issued a $1.62 dividend. This represents a $6.48 dividend on an annualized basis and a dividend yield of 4.6%. The ex-dividend date of this dividend is Monday, September 15th. Extra Space Storage's dividend payout ratio is presently 140.56%.

Wall Street Analysts Forecast Growth

A number of research analysts have weighed in on EXR shares. The Goldman Sachs Group reissued a "neutral" rating and issued a $146.00 target price (down from $169.00) on shares of Extra Space Storage in a research note on Thursday, August 21st. Mizuho raised their price target on shares of Extra Space Storage from $141.00 to $153.00 and gave the stock an "outperform" rating in a report on Wednesday, May 28th. BNP Paribas upgraded shares of Extra Space Storage to a "hold" rating in a report on Tuesday, June 24th. Royal Bank Of Canada dropped their target price on shares of Extra Space Storage from $160.00 to $148.00 and set a "sector perform" rating for the company in a report on Monday, August 4th. Finally, BNP Paribas Exane assumed coverage on shares of Extra Space Storage in a report on Tuesday, June 24th. They issued a "neutral" rating and a $156.00 target price for the company. Six analysts have rated the stock with a Buy rating and nine have issued a Hold rating to the company's stock. According to data from MarketBeat.com, Extra Space Storage currently has an average rating of "Hold" and an average target price of $148.50.

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.