Assenagon Asset Management S.A. Sells 159 Shares of Extra Space Storage Inc $EXR

Assenagon Asset Management S.A. trimmed its holdings in shares of Extra Space Storage Inc (NYSE:EXR) by 4.8% during the second quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 3,161 shares of the real estate investment trust’s stock after selling 159 shares during the period. Assenagon Asset Management S.A.’s holdings in Extra Space Storage were worth $466,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also recently modified their holdings of the company. GKV Capital Management Co. Inc. bought a new position in shares of Extra Space Storage during the 1st quarter worth approximately $29,000. Zions Bancorporation National Association UT acquired a new position in shares of Extra Space Storage during the first quarter worth approximately $50,000. Golden State Wealth Management LLC raised its position in shares of Extra Space Storage by 147.0% during the first quarter. Golden State Wealth Management LLC now owns 405 shares of the real estate investment trust’s stock worth $60,000 after purchasing an additional 241 shares during the period. Wayfinding Financial LLC acquired a new position in shares of Extra Space Storage during the first quarter worth approximately $76,000. Finally, Avalon Trust Co acquired a new position in shares of Extra Space Storage during the first quarter worth approximately $79,000. 99.11% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Extra Space Storage

In other news, CEO Joseph D. Margolis sold 7,500 shares of the 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 transaction, 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 can be accessed through this hyperlink. Insiders own 1.36% of the company’s stock.

Extra Space Storage Stock Up 1.7%

EXR stock opened at $140.07 on Monday. 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 capitalization of $29.73 billion, a price-to-earnings ratio of 30.38, a PEG ratio of 3.39 and a beta of 1.09. Extra Space Storage Inc has a fifty-two week low of $121.03 and a fifty-two week high of $181.42. The stock has a fifty day moving average of $142.22 and a 200-day moving average of $144.59.

Extra Space Storage (NYSE:EXR) last posted its quarterly earnings results on Wednesday, July 30th. The real estate investment trust reported $2.05 earnings per share for the quarter, missing the consensus estimate of $2.06 by ($0.01). The firm had revenue of $841.62 million for the quarter, compared to the consensus estimate of $719.43 million. Extra Space Storage had a return on equity of 6.69% and a net margin of 29.51%.The firm’s revenue was up 3.8% compared to the same quarter last year. 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, equities research analysts predict that Extra Space Storage Inc will post 8.1 earnings per share for the current year.

Extra Space Storage Dividend Announcement

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

Analyst Ratings Changes

A number of equities analysts have recently weighed in on the company. Truist Financial lowered their target price on Extra Space Storage from $158.00 to $150.00 and set a “hold” rating on the stock in a research report on Tuesday, August 19th. Wall Street Zen lowered Extra Space Storage from a “hold” rating to a “sell” rating in a research report on Friday. BNP Paribas raised Extra Space Storage to a “hold” rating in a research report on Tuesday, June 24th. Scotiabank lowered their price target 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. Finally, Wells Fargo & Company raised Extra Space Storage from an “equal weight” rating to an “overweight” rating and set a $160.00 price target for the company in a research report on Tuesday, August 26th. Six investment analysts have rated the stock with a Buy rating and nine have given a Hold rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and an average 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.