Uniplan Investment Counsel Inc. Decreases Stock Holdings in Extra Space Storage Inc $EXR

Key Points

• Uniplan Investment Counsel Inc. has reduced its stake in Extra Space Storage Inc. by 22.1%, now holding 128,202 shares valued at approximately $19 million.
• CEO Joseph D. Margolis sold 7,500 shares at an average price of $150.35, reflecting a 21.58% decrease in his ownership.
• Analyst ratings for Extra Space Storage have seen revisions, with Goldman Sachs maintaining a "neutral" rating and lowering the price target from $169 to $146.

Uniplan Investment Counsel Inc. trimmed its position in shares of Extra Space Storage Inc (NYSE:EXR - Free Report) by 22.1% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 128,202 shares of the real estate investment trust's stock after selling 36,441 shares during the period. Extra Space Storage comprises 1.9% of Uniplan Investment Counsel Inc.'s portfolio, making the stock its 15th largest position. Uniplan Investment Counsel Inc. owned 0.06% of Extra Space Storage worth $19,037,000 at the end of the most recent quarter.

Several other large investors also recently modified their holdings of EXR. D.A. Davidson & CO. lifted its stake in shares of Extra Space Storage by 7.2% in the 1st quarter. D.A. Davidson & CO. now owns 1,895 shares of the real estate investment trust's stock valued at $281,000 after purchasing an additional 127 shares during the period. Allspring Global Investments Holdings LLC lifted its position in 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 buying an additional 398 shares during the period. QRG Capital Management Inc. boosted its holdings in shares of Extra Space Storage by 21.4% during the 1st quarter. QRG Capital Management Inc. now owns 2,684 shares of the real estate investment trust's stock valued at $399,000 after buying an additional 474 shares in the last quarter. Farther Finance Advisors LLC grew its position in shares of Extra Space Storage by 24.3% in the 1st 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 during the period. Finally, IFP Advisors Inc increased its stake in shares of Extra Space Storage by 1,376.5% in the 1st quarter. IFP Advisors Inc now owns 1,698 shares of the real estate investment trust's stock worth $252,000 after acquiring an additional 1,583 shares in the last quarter. 99.11% of the stock is owned by institutional investors.

Insiders Place Their Bets

In other Extra Space Storage news, CEO Joseph D. Margolis sold 7,500 shares of the firm's stock in a transaction dated 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 transaction, the chief executive officer directly owned 27,260 shares of the company's stock, valued at approximately $4,098,541. This trade represents a 21.58% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Corporate insiders own 0.96% of the company's stock.

Analyst Ratings Changes

A number of equities research analysts have weighed in on the stock. The Goldman Sachs Group restated a "neutral" rating and issued a $146.00 price objective (down previously from $169.00) on shares of Extra Space Storage in a report on Thursday, August 21st. Truist Financial dropped their price target on Extra Space Storage from $158.00 to $150.00 and set a "hold" rating on the stock in a research report on Tuesday, August 19th. Scotiabank reduced their price objective on Extra Space Storage from $166.00 to $162.00 and set a "sector outperform" rating for the company in a research report on Thursday, August 28th. JPMorgan Chase & Co. lifted their price objective on Extra Space Storage from $160.00 to $162.00 and gave the company a "neutral" rating in a research note on Friday, June 13th. Finally, Wall Street Zen downgraded Extra Space Storage from a "hold" rating to a "sell" rating in a report on Monday, September 1st. Seven equities research analysts have rated the stock with a Buy rating and nine have issued a Hold rating to the stock. According to MarketBeat, the stock presently has a consensus rating of "Hold" and an average target price of $153.33.

Extra Space Storage Stock Performance

EXR stock opened at $147.19 on Friday. The stock's 50 day simple moving average is $144.34 and its 200 day simple moving average is $145.89. The company has a current ratio of 0.29, a quick ratio of 0.29 and a debt-to-equity ratio of 0.88. 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 capitalization of $31.24 billion, a PE ratio of 31.93, a price-to-earnings-growth ratio of 3.56 and a beta of 1.09.

Extra Space Storage (NYSE:EXR - Get Free Report) last released its quarterly earnings data on Wednesday, July 30th. The real estate investment trust reported $2.05 EPS for the quarter, missing the consensus estimate 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 for the quarter, compared to analysts' expectations of $719.43 million. During the same period last year, the business earned $2.06 earnings per share. 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. As a group, research analysts forecast that Extra Space Storage Inc will post 8.1 earnings per share for the current fiscal year.

Extra Space Storage Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 30th. Investors of record on Monday, September 15th will be given a dividend of $1.62 per share. 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 dividend payout ratio is 140.56%.

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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