Farther Finance Advisors LLC Raises Stock Holdings in Extra Space Storage Inc $EXR

Farther Finance Advisors LLC lifted its stake in shares of Extra Space Storage Inc (NYSE:EXR) by 6.5% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,559 shares of the real estate investment trust’s stock after purchasing an additional 95 shares during the quarter. Farther Finance Advisors LLC’s holdings in Extra Space Storage were worth $230,000 at the end of the most recent quarter.

Several other large investors have also recently bought and sold shares of the business. GKV Capital Management Co. Inc. purchased a new position in shares of Extra Space Storage in the first quarter valued at $29,000. Zions Bancorporation National Association UT acquired a new position in shares of Extra Space Storage in the 1st quarter valued at about $50,000. Golden State Wealth Management LLC lifted its stake in shares of Extra Space Storage by 147.0% in the 1st quarter. Golden State Wealth Management LLC now owns 405 shares of the real estate investment trust’s stock valued at $60,000 after purchasing an additional 241 shares in the last quarter. Wayfinding Financial LLC acquired a new position in shares of Extra Space Storage in the 1st quarter valued at about $76,000. Finally, Avalon Trust Co acquired a new position in shares of Extra Space Storage in the 1st quarter valued at about $79,000. Hedge funds and other institutional investors own 99.11% of the company’s stock.

Extra Space Storage Stock Down 0.4%

Shares of NYSE:EXR opened at $140.86 on Wednesday. Extra Space Storage Inc has a 52 week low of $121.03 and a 52 week high of $181.42. 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’s fifty day moving average is $141.88 and its 200-day moving average is $144.54. The company has a market capitalization of $29.90 billion, a PE ratio of 30.56, a P/E/G ratio of 3.43 and a beta of 1.09.

Extra Space Storage (NYSE:EXR) last issued its quarterly earnings data on Wednesday, July 30th. The real estate investment trust reported $2.05 earnings per share (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 the consensus estimate 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 revenue for the quarter was up 3.8% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $2.06 EPS. Extra Space Storage has set its FY 2025 guidance at 8.050-8.25 EPS. Equities research analysts predict that Extra Space Storage Inc will post 8.1 earnings per share for the current fiscal year.

Extra Space Storage Announces Dividend

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

Analysts Set New Price Targets

Several equities analysts recently commented on EXR shares. The Goldman Sachs Group reissued a “neutral” rating and set a $146.00 price target (down from $169.00) on shares of Extra Space Storage in a research report on Thursday, August 21st. BNP Paribas Exane initiated coverage on 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. JPMorgan Chase & Co. upped their price target on Extra Space Storage from $160.00 to $162.00 and gave the company a “neutral” rating in a research report on Friday, June 13th. Wall Street Zen downgraded Extra Space Storage from a “hold” rating to a “sell” rating in a research note on Friday, September 26th. Finally, Citigroup decreased their price target on Extra Space Storage from $165.00 to $150.00 and set a “neutral” rating for the company in a research note on Friday, August 22nd. Six analysts have rated the stock with a Buy rating and nine have assigned a Hold rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $148.50.

About Extra Space Storage

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.