UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC Increases Position in Extra Space Storage Inc $EXR

Key Points

• UBS Asset Management increased its ownership in Extra Space Storage Inc (EXR) by 5.8%, acquiring an additional 124,976 shares during the first quarter, bringing its total stake to approximately $336.8 million.
• In the first quarter, several other institutional investors also adjusted their positions in Extra Space Storage, with Woodline Partners LP notably raising its holdings by 157.4% to 389,716 shares.
• Extra Space Storage's CEO, Joseph D. Margolis, sold 7,500 shares at an average price of $150.35, resulting in a 21.58% decrease in his ownership of shares, valued at about $4.1 million post-sale.

UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its position in shares of Extra Space Storage Inc (NYSE:EXR - Free Report) by 5.8% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 2,268,023 shares of the real estate investment trust's stock after purchasing an additional 124,976 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC owned about 1.07% of Extra Space Storage worth $336,779,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also added to or reduced their stakes in the business. Baird Financial Group Inc. increased its position in Extra Space Storage by 96.8% in the 4th quarter. Baird Financial Group Inc. now owns 1,999 shares of the real estate investment trust's stock valued at $299,000 after acquiring an additional 983 shares during the period. Lazard Asset Management LLC lifted its holdings in Extra Space Storage by 1,710.8% during the 4th quarter. Lazard Asset Management LLC now owns 2,010 shares of the real estate investment trust's stock worth $300,000 after buying an additional 1,899 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its position in shares of Extra Space Storage by 4.6% in the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 21,137 shares of the real estate investment trust's stock valued at $3,162,000 after buying an additional 933 shares during the last quarter. OMERS ADMINISTRATION Corp increased its stake in shares of Extra Space Storage by 20.3% in the fourth quarter. OMERS ADMINISTRATION Corp now owns 8,852 shares of the real estate investment trust's stock valued at $1,324,000 after buying an additional 1,493 shares during the period. Finally, NorthRock Partners LLC bought a new position in shares of Extra Space Storage during the fourth quarter worth about $276,000. Institutional investors own 99.11% of the company's stock.

Extra Space Storage Stock Down 0.7%

Shares of EXR stock traded down $1.01 on Friday, hitting $147.30. The stock had a trading volume of 1,176,630 shares, compared to its average volume of 992,388. The company has a debt-to-equity ratio of 0.88, a current ratio of 0.29 and a quick ratio of 0.29. The business has a 50 day moving average of $143.90 and a 200 day moving average of $145.52. Extra Space Storage Inc has a 12-month low of $121.03 and a 12-month high of $184.87. The stock has a market cap of $31.26 billion, a price-to-earnings ratio of 31.95, a price-to-earnings-growth ratio of 3.59 and a beta of 1.09.

Extra Space Storage (NYSE:EXR - Get Free Report) last announced 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 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 the consensus estimate of $719.43 million. During the same quarter last year, the company earned $2.06 EPS. The firm's revenue for the quarter 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, analysts expect that Extra Space Storage Inc will post 8.1 EPS for the current year.

Extra Space Storage Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 30th. Investors of record on Monday, September 15th will be paid a $1.62 dividend. This represents a $6.48 dividend on an annualized basis and a yield of 4.4%. The ex-dividend date is Monday, September 15th. Extra Space Storage's payout ratio is currently 140.56%.

Insider Transactions at Extra Space Storage

In other news, CEO Joseph D. Margolis sold 7,500 shares of Extra Space Storage stock in a transaction on Tuesday, July 1st. The stock was sold at an average price of $150.35, for a total value of $1,127,625.00. Following the completion of the transaction, the chief executive officer directly owned 27,260 shares in the company, valued at approximately $4,098,541. The trade was a 21.58% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.96% of the stock is owned by insiders.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on EXR. Royal Bank Of Canada dropped their price target on shares of Extra Space Storage from $160.00 to $148.00 and set a "sector perform" rating on the stock in a research report on Monday, August 4th. Scotiabank dropped their target price on shares of Extra Space Storage from $166.00 to $162.00 and set a "sector outperform" rating on the stock in a report on Thursday, August 28th. JPMorgan Chase & Co. increased their price target on Extra Space Storage from $160.00 to $162.00 and gave the stock a "neutral" rating in a report on Friday, June 13th. Barclays dropped their price objective on Extra Space Storage from $178.00 to $169.00 and set an "overweight" rating on the stock in a research note on Friday, August 8th. Finally, Evercore ISI decreased their target price on Extra Space Storage from $148.00 to $146.00 and set an "in-line" rating for the company in a research note on Monday, August 4th. Six research analysts have rated the stock with a Buy rating and nine have given a Hold rating to the company's stock. Based on data from MarketBeat.com, Extra Space Storage currently has an average rating of "Hold" and a consensus target price of $151.57.

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.