Extra Space Storage Inc $EXR Shares Sold by Park Avenue Securities LLC

Park Avenue Securities LLC trimmed its holdings in Extra Space Storage Inc (NYSE:EXR) by 2.9% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 3,952 shares of the real estate investment trust’s stock after selling 116 shares during the period. Park Avenue Securities LLC’s holdings in Extra Space Storage were worth $583,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds also recently modified their holdings of the company. Vanguard Group Inc. boosted its stake in shares of Extra Space Storage by 0.9% during the 1st quarter. Vanguard Group Inc. now owns 33,969,485 shares of the real estate investment trust’s stock worth $5,044,129,000 after purchasing an additional 295,556 shares during the last quarter. JPMorgan Chase & Co. boosted its stake 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 worth $608,001,000 after purchasing an additional 2,755,265 shares during the last quarter. Massachusetts Financial Services Co. MA boosted its stake in shares of 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 purchasing an additional 12,607 shares during the last quarter. Invesco Ltd. boosted its stake 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 worth $453,843,000 after purchasing an additional 480,642 shares during the last quarter. Finally, Northern Trust Corp boosted its stake in shares of 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 worth $434,011,000 after purchasing an additional 47,779 shares during the last quarter. 99.11% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

EXR has been the topic of several analyst reports. Wall Street Zen cut shares of Extra Space Storage from a “hold” rating to a “sell” rating in a research note on Friday. UBS Group decreased their target price on shares of Extra Space Storage from $169.00 to $160.00 and set a “buy” rating on the stock in a research report on Tuesday, September 16th. BNP Paribas Exane assumed coverage on shares of Extra Space Storage in a research report on Tuesday, June 24th. They issued a “neutral” rating and a $156.00 target price on the stock. Truist Financial decreased their target price on shares of 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. Finally, Barclays decreased their target price on shares of 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. Six research analysts have rated the stock with a Buy rating and nine have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $148.50.

Insider Activity

In other news, CEO Joseph D. Margolis sold 7,500 shares of Extra Space Storage stock in a transaction that occurred on Tuesday, July 1st. The shares were sold at an average price of $150.35, for a total transaction of $1,127,625.00. Following the sale, the chief executive officer owned 27,260 shares in the company, valued at $4,098,541. This trade represents a 21.58% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. 1.36% of the stock is owned by corporate insiders.

Extra Space Storage Trading Up 1.7%

NYSE EXR opened at $140.07 on Monday. Extra Space Storage Inc has a one year low of $121.03 and a one year high of $181.42. The company’s 50 day moving average price is $142.22 and its 200 day moving average price is $144.59. 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 firm 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 (NYSE:EXR) last posted its quarterly earnings results on Wednesday, July 30th. The real estate investment trust reported $2.05 EPS for the quarter, missing the consensus estimate of $2.06 by ($0.01). The business had revenue of $841.62 million during the quarter, compared to analysts’ expectations of $719.43 million. Extra Space Storage had a net margin of 29.51% and a return on equity of 6.69%. The company’s quarterly revenue was up 3.8% on a year-over-year basis. During the same quarter in the previous year, the business posted $2.06 EPS. Extra Space Storage has set its FY 2025 guidance at 8.050-8.25 EPS. On average, sell-side analysts predict that Extra Space Storage Inc will post 8.1 EPS for the current year.

Extra Space Storage Announces Dividend

The company also recently disclosed 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 dividend on an annualized basis and a dividend yield of 4.6%. Extra Space Storage’s dividend payout ratio (DPR) is currently 140.56%.

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.