Vanderbilt University Decreases Stock Position in Extra Space Storage Inc $EXR

Key Points

• Vanderbilt University has decreased its stock holdings in Extra Space Storage Inc (NYSE: EXR) by 46.7%, owning 9,231 shares valued at $1.361 million after selling 8,102 shares in the second quarter.
• Extra Space Storage reported $2.05 earnings per share for the latest quarter, slightly missing analysts' estimates, while achieving a revenue of $841.62 million.
• The company announced a quarterly dividend of $1.62 per share, which translates to an annualized yield of 4.6%, despite a high dividend payout ratio of 140.56%.

Vanderbilt University trimmed its holdings in shares of Extra Space Storage Inc (NYSE:EXR - Free Report) by 46.7% during the second quarter, according to its most recent Form 13F filing with the SEC. The firm owned 9,231 shares of the real estate investment trust's stock after selling 8,102 shares during the period. Vanderbilt University's holdings in Extra Space Storage were worth $1,361,000 as of its most recent SEC filing.

A number of other large investors have also modified their holdings of EXR. JPMorgan Chase & Co. grew its position in Extra Space Storage by 205.7% in the 1st quarter. JPMorgan Chase & Co. now owns 4,094,555 shares of the real estate investment trust's stock valued at $608,001,000 after buying an additional 2,755,265 shares in the last quarter. Nuveen LLC bought a new position in shares of Extra Space Storage during the 1st quarter valued at about $257,917,000. AQR Capital Management LLC boosted its position in shares of Extra Space Storage by 570.3% during the 1st quarter. AQR Capital Management LLC now owns 1,124,206 shares of the real estate investment trust's stock valued at $166,180,000 after purchasing an additional 956,500 shares in the last quarter. Resolution Capital Ltd boosted its position in shares of Extra Space Storage by 259.1% during the 1st quarter. Resolution Capital Ltd now owns 902,157 shares of the real estate investment trust's stock valued at $133,961,000 after purchasing an additional 650,957 shares in the last quarter. Finally, Invesco Ltd. boosted its position in shares of Extra Space Storage by 18.7% during the 1st quarter. Invesco Ltd. now owns 3,056,384 shares of the real estate investment trust's stock valued at $453,843,000 after purchasing an additional 480,642 shares in the last quarter. Institutional investors and hedge funds own 99.11% of the company's stock.

Extra Space Storage Price Performance

NYSE EXR opened at $141.39 on Friday. The company has a 50 day simple moving average of $141.50 and a 200-day simple moving average of $144.48. 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 firm has a market capitalization of $30.01 billion, a price-to-earnings ratio of 30.67, a price-to-earnings-growth ratio of 3.42 and a beta of 1.11. Extra Space Storage Inc has a 52-week low of $121.03 and a 52-week high of $177.67.

Extra Space Storage (NYSE:EXR - Get Free Report) last posted its quarterly earnings results 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). The company had revenue of $841.62 million during 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%.Extra Space Storage's revenue for the quarter was up 3.8% compared to the same quarter last year. During the same period last year, the company earned $2.06 earnings per share. Extra Space Storage has set its FY 2025 guidance at 8.050-8.25 EPS. Equities research analysts predict that Extra Space Storage Inc will post 8.1 earnings per share for the current fiscal year.

Extra Space Storage Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, September 30th. Stockholders of record on Monday, September 15th were given 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 was Monday, September 15th. Extra Space Storage's dividend payout ratio is 140.56%.

Analyst Ratings Changes

EXR has been the subject of several research reports. JPMorgan Chase & Co. raised their price objective on shares of Extra Space Storage from $160.00 to $162.00 and gave the company a "neutral" rating in a research report on Friday, June 13th. The Goldman Sachs Group restated a "neutral" rating and set a $146.00 price objective (down previously from $169.00) on shares of Extra Space Storage in a research report on Thursday, August 21st. Royal Bank Of Canada reduced 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. Scotiabank decreased their target price on shares of Extra Space Storage from $166.00 to $162.00 and set a "sector outperform" rating for the company in a report on Thursday, August 28th. Finally, Citigroup decreased their target price on shares of Extra Space Storage from $165.00 to $150.00 and set a "neutral" rating for the company in a report on Friday, August 22nd. Six investment analysts have rated the stock with a Buy rating and nine have given a Hold rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of "Hold" and an average price target 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.

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