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 acquired a new position in shares of Extra Space Storage Inc (NYSE:EXR - Free Report) in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund acquired 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 modified their holdings of the company. D.A. Davidson & CO. raised its stake in shares of Extra Space Storage by 7.2% during the first quarter. D.A. Davidson & CO. now owns 1,895 shares of the real estate investment trust's stock valued at $281,000 after acquiring an additional 127 shares during the last quarter. Allspring Global Investments Holdings LLC raised its stake in shares of Extra Space Storage by 1.8% during the first quarter. Allspring Global Investments Holdings LLC now owns 22,222 shares of the real estate investment trust's stock valued at $3,285,000 after acquiring an additional 398 shares during the last quarter. QRG Capital Management Inc. raised its stake in Extra Space Storage by 21.4% in the first quarter. QRG Capital Management Inc. now owns 2,684 shares of the real estate investment trust's stock worth $399,000 after buying an additional 474 shares in the last quarter. Farther Finance Advisors LLC raised its stake 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 buying an additional 286 shares in the last quarter. Finally, IFP Advisors Inc raised its stake in Extra Space Storage by 1,376.5% in the first quarter. IFP Advisors Inc now owns 1,698 shares of the real estate investment trust's stock worth $252,000 after buying an additional 1,583 shares in the last quarter. 99.11% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of brokerages have weighed in on EXR. Royal Bank Of Canada decreased 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 research note on Monday, August 4th. Evercore ISI raised their target price on shares of Extra Space Storage from $146.00 to $147.00 and gave the company an "in-line" rating in a research note on Monday. Wells Fargo & Company raised shares of Extra Space Storage from an "equal weight" rating to an "overweight" rating and set a $160.00 target price for the company in a research note on Tuesday, August 26th. Truist Financial cut their price target on shares of Extra Space Storage from $158.00 to $150.00 and set a "hold" rating on the stock in a report on Tuesday, August 19th. Finally, UBS Group cut their price target on shares of Extra Space Storage from $169.00 to $160.00 and set a "buy" rating on the stock in a report on Tuesday. Six equities research analysts have rated the stock with a Buy rating and nine have issued a Hold rating to the stock. According to MarketBeat.com, Extra Space Storage presently has a consensus rating of "Hold" and a consensus target price of $148.50.

Insider Activity at Extra Space Storage

In other news, CEO Joseph D. Margolis sold 7,500 shares of the business'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 sale, the chief executive officer directly owned 27,260 shares in the company, valued at $4,098,541. The trade was a 21.58% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. 0.96% of the stock is owned by company insiders.

Extra Space Storage Stock Performance

Shares of Extra Space Storage stock traded down $3.28 on Friday, hitting $139.42. 2,182,091 shares of the company's stock were exchanged, compared to its average volume of 1,183,191. The company has a 50-day simple moving average of $143.22 and a 200-day simple moving average of $145.20. The stock has a market capitalization of $29.59 billion, a PE ratio of 30.24, a PEG ratio of 3.47 and a beta of 1.09. Extra Space Storage Inc has a 1 year low of $121.03 and a 1 year high of $183.22. The company has a debt-to-equity ratio of 0.88, a quick ratio of 0.29 and a current ratio of 0.29.

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

Extra Space Storage Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, September 30th. Shareholders 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 yield of 4.6%. The ex-dividend date is Monday, September 15th. Extra Space Storage's payout ratio is currently 140.56%.

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.