waypoint wealth counsel Purchases New Shares in Extra Space Storage Inc $EXR

Key Points

• Waypoint Wealth Counsel purchased a new stake in Extra Space Storage Inc, acquiring 2,435 shares valued at approximately $359,000.
• CEO Joseph D. Margolis sold 7,500 shares of Extra Space Storage, reducing his ownership by 27.51% and retaining a value of approximately $2.79 million in shares.
• Extra Space Storage declared a $1.62 quarterly dividend, yielding 4.6%, but has a payout ratio exceeding 140%.

waypoint wealth counsel purchased a new stake in Extra Space Storage Inc (NYSE:EXR - Free Report) in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm purchased 2,435 shares of the real estate investment trust's stock, valued at approximately $359,000.

Several other hedge funds and other institutional investors also recently made changes to their positions in the company. Vanguard Group Inc. boosted its holdings in shares of Extra Space Storage by 0.9% in the first quarter. Vanguard Group Inc. now owns 33,969,485 shares of the real estate investment trust's stock worth $5,044,129,000 after buying an additional 295,556 shares during the period. JPMorgan Chase & Co. boosted its stake 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 worth $608,001,000 after purchasing an additional 2,755,265 shares during the period. Massachusetts Financial Services Co. MA boosted its stake in Extra Space Storage by 0.4% in the 1st quarter. Massachusetts Financial Services Co. MA now owns 3,077,577 shares of the real estate investment trust's stock worth $456,989,000 after purchasing an additional 12,607 shares during the period. Invesco Ltd. boosted 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 buying an additional 480,642 shares during the period. Finally, Northern Trust Corp boosted its position in shares of Extra Space Storage by 1.7% in the first quarter. Northern Trust Corp now owns 2,922,828 shares of the real estate investment trust's stock worth $434,011,000 after buying an additional 47,779 shares during the period. 99.11% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Extra Space Storage

In other Extra Space Storage news, CEO Joseph D. Margolis sold 7,500 shares of the business's stock in a transaction dated Wednesday, October 1st. The stock was sold at an average price of $141.41, for a total value of $1,060,575.00. Following the completion of the sale, the chief executive officer owned 19,760 shares of the company's stock, valued at $2,794,261.60. The trade was a 27.51% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.96% of the stock is owned by corporate insiders.

Extra Space Storage Price Performance

NYSE EXR opened at $141.98 on Friday. The company has a quick ratio of 0.29, a current ratio of 0.29 and a debt-to-equity ratio of 0.88. The stock has a market capitalization of $30.14 billion, a PE ratio of 30.80, a price-to-earnings-growth ratio of 3.44 and a beta of 1.11. The company has a 50 day moving average price of $141.10 and a two-hundred day moving average price of $144.34. Extra Space Storage Inc has a 12-month low of $121.03 and a 12-month high of $175.57.

Extra Space Storage (NYSE:EXR - Get Free Report) last posted its 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). 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 analyst estimates of $719.43 million. During the same quarter last year, the firm earned $2.06 earnings per share. Extra Space Storage's revenue 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, equities 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. Shareholders of record on Monday, September 15th were given a $1.62 dividend. The ex-dividend date of this dividend was Monday, September 15th. This represents a $6.48 dividend on an annualized basis and a dividend yield of 4.6%. Extra Space Storage's payout ratio is currently 140.56%.

Wall Street Analyst Weigh In

Several brokerages have recently commented on EXR. Truist Financial decreased their target price on 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. Scotiabank decreased 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. BNP Paribas upgraded shares of Extra Space Storage to a "hold" rating in a report on Tuesday, June 24th. Citigroup decreased their price target 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. Finally, Evercore ISI lifted their target price on shares of Extra Space Storage from $147.00 to $149.00 and gave the company a "cautious" rating in a research note on Friday, October 3rd. Six analysts have rated the stock with a Buy rating, nine have assigned a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, Extra Space Storage presently has a consensus rating of "Hold" and an average target price of $148.64.

Extra Space Storage Company 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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