Vident Advisory LLC Buys 3,244 Shares of Extra Space Storage Inc $EXR

Key Points

• Vident Advisory LLC increased its position in Extra Space Storage Inc by 22.8% during the first quarter, now owning 17,498 shares worth approximately $2.6 million.
• Extra Space Storage is set to pay a quarterly dividend of $1.62 on September 30th, representing an annualized yield of 4.5% with a payout ratio of 140.56%.
• Wall Street analysts have a consensus rating of "Hold" for Extra Space Storage, with an average price target of $153.33, showing mixed predictions for the stock's future performance.

Vident Advisory LLC increased its holdings in Extra Space Storage Inc (NYSE:EXR - Free Report) by 22.8% in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 17,498 shares of the real estate investment trust's stock after acquiring an additional 3,244 shares during the quarter. Vident Advisory LLC's holdings in Extra Space Storage were worth $2,598,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. D.A. Davidson & CO. lifted its stake in Extra Space Storage by 7.2% in the first quarter. D.A. Davidson & CO. now owns 1,895 shares of the real estate investment trust's stock worth $281,000 after acquiring an additional 127 shares during the period. Allspring Global Investments Holdings LLC lifted its stake in Extra Space Storage by 1.8% in the first quarter. Allspring Global Investments Holdings LLC now owns 22,222 shares of the real estate investment trust's stock worth $3,285,000 after acquiring an additional 398 shares during the period. QRG Capital Management Inc. raised its holdings 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 purchasing an additional 474 shares in the last quarter. Farther Finance Advisors LLC raised its holdings 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 purchasing an additional 286 shares in the last quarter. Finally, IFP Advisors Inc raised its holdings 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 purchasing an additional 1,583 shares in the last quarter. Hedge funds and other institutional investors own 99.11% of the company's stock.

Extra Space Storage Price Performance

NYSE EXR traded up $0.68 during trading hours on Thursday, reaching $143.88. The company's stock had a trading volume of 1,435,470 shares, compared to its average volume of 1,185,547. The firm's 50-day moving average price is $144.36 and its 200-day moving average price is $146.08. The company has a quick ratio of 0.29, a current ratio of 0.29 and a debt-to-equity ratio of 0.88. Extra Space Storage Inc has a 1 year low of $121.03 and a 1 year high of $184.87. The company has a market capitalization of $30.54 billion, a price-to-earnings ratio of 31.21, a PEG ratio of 3.47 and a beta of 1.09.

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 EPS for the quarter, missing analysts' consensus estimates 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 business had revenue of $841.62 million during the quarter, compared to analysts' expectations of $719.43 million. During the same period in the prior year, the firm posted $2.06 earnings per share. The firm's revenue for the quarter 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. On average, equities research analysts predict that Extra Space Storage Inc will post 8.1 EPS for the current fiscal year.

Extra Space Storage Announces Dividend

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

Insider Transactions at Extra Space Storage

In other Extra Space Storage news, CEO Joseph D. Margolis sold 7,500 shares of Extra Space Storage stock in a transaction that occurred 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 sale, the chief executive officer owned 27,260 shares of the company's stock, valued at $4,098,541. The trade was a 21.58% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. 1.36% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

A number of research firms have issued reports on EXR. Royal Bank Of Canada decreased their price objective on Extra Space Storage from $160.00 to $148.00 and set a "sector perform" rating for the company in a report on Monday, August 4th. Mizuho raised their price target on Extra Space Storage from $141.00 to $153.00 and gave the company an "outperform" rating in a report on Wednesday, May 28th. Citigroup reduced their price objective on Extra Space Storage from $165.00 to $150.00 and set a "neutral" rating for the company in a report on Friday, August 22nd. Benchmark reduced their price objective on Extra Space Storage from $61.00 to $55.00 and set a "buy" rating for the company in a report on Tuesday, May 13th. Finally, Barclays dropped their target price on Extra Space Storage from $178.00 to $169.00 and set an "overweight" rating on the stock in a research report on Friday, August 8th. Seven analysts have rated the stock with a Buy rating and nine have assigned a Hold rating to the company. According to MarketBeat.com, the company currently has a consensus rating of "Hold" and an average price target of $153.33.

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.