Strs Ohio Takes Position in Extra Space Storage Inc $EXR

Key Points

• Strs Ohio has acquired a new stake in Extra Space Storage Inc, purchasing 395,644 shares valued at approximately $58.75 million, representing about 0.19% of the company.
• Recent analysis shows analysts have mixed ratings on Extra Space Storage, with the consensus target price now at $151.57, following several price target adjustments.
• Extra Space Storage announced a quarterly dividend of $1.62 per share, which will be paid on September 30th, reflecting a 4.5% dividend yield.

Strs Ohio purchased a new stake in Extra Space Storage Inc (NYSE:EXR - Free Report) during the first quarter, according to its most recent disclosure with the SEC. The firm purchased 395,644 shares of the real estate investment trust's stock, valued at approximately $58,749,000. Strs Ohio owned approximately 0.19% of Extra Space Storage at the end of the most recent quarter.

Other institutional investors have also bought and sold shares of the company. GKV Capital Management Co. Inc. acquired a new stake in shares of Extra Space Storage during the 1st quarter worth approximately $29,000. Zions Bancorporation National Association UT acquired a new stake in shares of Extra Space Storage during the 1st quarter worth approximately $50,000. Golden State Wealth Management LLC increased its holdings 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 valued at $60,000 after purchasing an additional 241 shares during the last quarter. Wayfinding Financial LLC acquired a new stake in Extra Space Storage in the 1st quarter valued at approximately $76,000. Finally, Avalon Trust Co acquired a new stake in Extra Space Storage in the 1st quarter valued at approximately $79,000. 99.11% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

EXR has been the subject of several research reports. Mizuho lifted their target price on shares of Extra Space Storage from $141.00 to $153.00 and gave the company an "outperform" rating in a report on Wednesday, May 28th. Wall Street Zen upgraded shares of Extra Space Storage from a "sell" rating to a "hold" rating in a research note on Tuesday. Barclays dropped their price target on shares of Extra Space Storage from $178.00 to $169.00 and set an "overweight" rating for the company in a research note on Friday, August 8th. Evercore ISI decreased their price objective on shares of Extra Space Storage from $148.00 to $146.00 and set an "in-line" rating for the company in a research report on Monday, August 4th. Finally, Royal Bank Of Canada decreased their price objective on shares of Extra Space Storage from $160.00 to $148.00 and set a "sector perform" rating for the company in a research report on Monday, August 4th. Six research analysts have rated the stock with a Buy rating and nine have issued a Hold rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of "Hold" and a consensus target price of $151.57.

Extra Space Storage Trading Up 0.3%

Shares of Extra Space Storage stock opened at $145.27 on Thursday. Extra Space Storage Inc has a 52-week low of $121.03 and a 52-week high of $184.87. 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 company's 50-day simple moving average is $144.09 and its 200-day simple moving average is $145.75. The firm has a market cap of $30.83 billion, a price-to-earnings ratio of 31.51, a price-to-earnings-growth ratio of 3.51 and a beta of 1.09.

Extra Space Storage (NYSE:EXR - Get Free Report) last issued its 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). Extra Space Storage had a return on equity of 6.69% and a net margin of 29.51%.The company had revenue of $841.62 million for the quarter, compared to analyst estimates of $719.43 million. During the same quarter in the previous year, the company posted $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. As a group, equities research analysts anticipate that Extra Space Storage Inc will post 8.1 earnings per share for the current year.

Extra Space Storage Announces Dividend

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

Insider Activity

In other news, CEO Joseph D. Margolis sold 7,500 shares of the stock in a transaction on 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 owned 27,260 shares of the company's stock, valued at $4,098,541. This represents a 21.58% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.96% of the stock is owned by insiders.

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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