Wedmont Private Capital Increases Position in Extra Space Storage Inc $EXR

Wedmont Private Capital boosted its holdings in Extra Space Storage Inc (NYSE:EXR) by 11.5% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 1,956 shares of the real estate investment trust’s stock after buying an additional 201 shares during the quarter. Wedmont Private Capital’s holdings in Extra Space Storage were worth $291,000 at the end of the most recent quarter.

Several other hedge funds have also made changes to their positions in EXR. Vanguard Group Inc. increased its holdings in 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 valued at $5,044,129,000 after buying an additional 295,556 shares in the last quarter. JPMorgan Chase & Co. lifted its holdings in shares of Extra Space Storage by 205.7% during 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 acquiring an additional 2,755,265 shares in the last quarter. Massachusetts Financial Services Co. MA increased its stake in Extra Space Storage by 0.4% during 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 buying an additional 12,607 shares during the period. Invesco Ltd. grew 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 buying an additional 480,642 shares during the last quarter. Finally, Northern Trust Corp boosted its stake in Extra Space Storage by 1.7% during the 1st quarter. Northern Trust Corp now owns 2,922,828 shares of the real estate investment trust’s stock valued at $434,011,000 after purchasing an additional 47,779 shares during the period. Institutional investors and hedge funds own 99.11% of the company’s stock.

Extra Space Storage Stock Down 2.3%

EXR stock opened at $139.42 on Monday. Extra Space Storage Inc has a fifty-two week low of $121.03 and a fifty-two week high of $183.22. The company has a debt-to-equity ratio of 0.88, a quick ratio of 0.29 and a current ratio of 0.29. The company has a market cap of $29.59 billion, a price-to-earnings ratio of 30.24, a P/E/G ratio of 3.38 and a beta of 1.09. The business’s 50-day moving average is $143.22 and its two-hundred day moving average is $145.05.

Extra Space Storage (NYSE:EXR) last released its quarterly earnings data 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 return on equity of 6.69% and a net margin of 29.51%.The firm had revenue of $841.62 million during the quarter, compared to the consensus estimate of $719.43 million. During the same period in the previous year, the firm earned $2.06 EPS. The business’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, analysts forecast that Extra Space Storage Inc will post 8.1 earnings per share for the current year.

Extra Space Storage Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, September 30th. Shareholders of record on Monday, September 15th will be issued a dividend of $1.62 per share. The ex-dividend date of this dividend is Monday, September 15th. This represents a $6.48 dividend on an annualized basis and a dividend yield of 4.6%. Extra Space Storage’s dividend payout ratio is presently 140.56%.

Insider Activity at Extra Space Storage

In other Extra Space Storage news, CEO Joseph D. Margolis sold 7,500 shares of the firm’s stock in a transaction on Tuesday, July 1st. The stock was sold at an average price of $150.35, for a total transaction of $1,127,625.00. Following the completion of the sale, the chief executive officer owned 27,260 shares of the company’s stock, valued at $4,098,541. This trade represents a 21.58% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Corporate insiders own 1.36% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts have commented on the stock. UBS Group decreased their target price on shares of Extra Space Storage from $169.00 to $160.00 and set a “buy” rating for the company in a research report on Tuesday, September 16th. JPMorgan Chase & Co. upped their price objective on shares of Extra Space Storage from $160.00 to $162.00 and gave the company a “neutral” rating in a report on Friday, June 13th. Royal Bank Of Canada dropped their target price on shares of 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. Barclays cut their price target on Extra Space Storage from $178.00 to $169.00 and set an “overweight” rating on the stock in a report on Friday, August 8th. Finally, BNP Paribas Exane began coverage on shares of Extra Space Storage in a report on Tuesday, June 24th. They set a “neutral” rating and a $156.00 price objective on the stock. Six investment analysts have rated the stock with a Buy rating and nine have given a Hold rating to the stock. According to MarketBeat, Extra Space Storage has an average rating of “Hold” and a consensus price target of $148.50.

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.