Walleye Trading LLC Makes New $416,000 Investment in Extra Space Storage Inc $EXR

Key Points

• Walleye Trading LLC has made a new investment in Extra Space Storage Inc, acquiring approximately 2,801 shares valued at $416,000.
• Multiple institutional investors have increased their stakes in Extra Space Storage, with JPMorgan Chase & Co. raising its position by 205.7% in the first quarter.
• Extra Space Storage has disclosed a quarterly dividend of $1.62 per share, which represents an annualized yield of 4.5% and has a dividend payout ratio of 140.56%.

Walleye Trading LLC acquired a new position in Extra Space Storage Inc (NYSE:EXR - Free Report) in the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor acquired 2,801 shares of the real estate investment trust's stock, valued at approximately $416,000.

A number of other large investors have also modified their holdings of EXR. JPMorgan Chase & Co. raised its position in shares of Extra Space Storage by 205.7% in the first quarter. JPMorgan Chase & Co. now owns 4,094,555 shares of the real estate investment trust's stock worth $608,001,000 after acquiring an additional 2,755,265 shares during the period. Nuveen LLC acquired a new position in shares of Extra Space Storage in the first quarter worth about $257,917,000. Balyasny Asset Management L.P. acquired a new position in shares of Extra Space Storage in the fourth quarter worth about $107,453,000. Universal Beteiligungs und Servicegesellschaft mbH acquired a new position in shares of Extra Space Storage in the fourth quarter worth about $74,984,000. Finally, Invesco Ltd. raised its position in shares of Extra Space Storage by 18.7% in the first quarter. Invesco Ltd. now owns 3,056,384 shares of the real estate investment trust's stock worth $453,843,000 after acquiring an additional 480,642 shares during the period. Institutional investors and hedge funds own 99.11% of the company's stock.

Wall Street Analyst Weigh In

Several research analysts recently weighed in on the stock. Evercore ISI reduced their price target 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. Benchmark reduced their price target on shares of Extra Space Storage from $61.00 to $55.00 and set a "buy" rating for the company in a research report on Tuesday, May 13th. Wall Street Zen upgraded shares of Extra Space Storage from a "sell" rating to a "hold" rating in a research report on Sunday, August 24th. Truist Financial reduced their price target on shares of Extra Space Storage from $158.00 to $150.00 and set a "hold" rating for the company in a research report on Tuesday, August 19th. Finally, JPMorgan Chase & Co. upped their price target on shares of Extra Space Storage from $160.00 to $162.00 and gave the stock a "neutral" rating in a research report on Friday, June 13th. Seven analysts have rated the stock with a Buy rating and nine have issued a Hold rating to the stock. According to MarketBeat.com, the company has a consensus rating of "Hold" and an average target price of $153.33.

Extra Space Storage Stock Up 1.0%

EXR stock opened at $143.73 on Friday. The company has a market cap of $30.51 billion, a price-to-earnings ratio of 31.18, a PEG ratio of 3.48 and a beta of 1.07. 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 firm has a 50-day moving average of $144.67 and a two-hundred day moving average of $146.28.

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 analysts' consensus estimates of $2.06 by ($0.01). The business had revenue of $841.62 million during the quarter, compared to analyst estimates of $719.43 million. Extra Space Storage had a net margin of 29.51% and a return on equity of 6.69%. The firm's revenue was up 3.8% on a year-over-year basis. During the same quarter in the previous year, the company posted $2.06 EPS. Extra Space Storage has set its FY 2025 guidance at 8.050-8.25 EPS. As a group, analysts forecast that Extra Space Storage Inc will post 8.1 earnings per share for the current fiscal year.

Extra Space Storage Announces Dividend

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

Insider Buying and Selling

In other Extra Space Storage news, CEO Joseph D. Margolis sold 7,500 shares of the stock in a transaction dated 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 in the company, valued at approximately $4,098,541. This represents a 21.58% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 0.96% of the company's stock.

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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