Ballentine Partners LLC Takes Position in Extra Space Storage Inc $EXR

Ballentine Partners LLC purchased a new stake in Extra Space Storage Inc (NYSE:EXR) during the second quarter, according to its most recent 13F filing with the SEC. The firm purchased 1,493 shares of the real estate investment trust’s stock, valued at approximately $220,000.

Other institutional investors have also modified their holdings of the company. Vanguard Group Inc. raised its position in shares of Extra Space Storage by 0.9% in the 1st 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 purchasing an additional 295,556 shares during the last quarter. JPMorgan Chase & Co. raised its position in shares of 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 valued at $608,001,000 after purchasing an additional 2,755,265 shares during the last quarter. Massachusetts Financial Services Co. MA raised its position in shares of 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 valued at $456,989,000 after purchasing an additional 12,607 shares during the last quarter. Invesco Ltd. raised its position in shares of Extra Space Storage by 18.7% in 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 purchasing an additional 480,642 shares during the last quarter. Finally, Northern Trust Corp raised its position 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 worth $434,011,000 after buying an additional 47,779 shares during the last quarter. 99.11% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of research firms have issued reports on EXR. Scotiabank reduced their price target on shares of 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. JPMorgan Chase & Co. raised 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. Royal Bank Of Canada cut 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. The Goldman Sachs Group reaffirmed a “neutral” rating and set a $146.00 target price (down from $169.00) on shares of Extra Space Storage in a report on Thursday, August 21st. Finally, Wells Fargo & Company raised shares of Extra Space Storage from an “equal weight” rating to an “overweight” rating and set a $160.00 target price for the company in a report on Tuesday, August 26th. Six analysts have rated the stock with a Buy rating and nine have given a Hold rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and an average target price of $148.50.

Extra Space Storage Trading Up 1.0%

Shares of EXR stock opened at $141.25 on Tuesday. The company’s 50-day moving average price is $142.09 and its 200-day moving average price is $144.56. The company has a current ratio of 0.29, a quick ratio of 0.29 and a debt-to-equity ratio of 0.88. The stock has a market cap of $29.98 billion, a price-to-earnings ratio of 30.64, a PEG ratio of 3.39 and a beta of 1.09. Extra Space Storage Inc has a twelve month low of $121.03 and a twelve month high of $181.42.

Extra Space Storage (NYSE:EXR) last announced 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). Extra Space Storage had a net margin of 29.51% and a return on equity of 6.69%. The firm had revenue of $841.62 million for the quarter, compared to analyst estimates of $719.43 million. During the same period in the previous year, the firm posted $2.06 EPS. The company’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 year.

Extra Space Storage Dividend Announcement

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

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.