Signaturefd LLC lifted its holdings in Extra Space Storage Inc (NYSE:EXR – Free Report) by 42.8% in the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 1,668 shares of the real estate investment trust’s stock after buying an additional 500 shares during the quarter. Signaturefd LLC’s holdings in Extra Space Storage were worth $246,000 at the end of the most recent quarter.
Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Patton Fund Management Inc. bought a new stake in shares of Extra Space Storage during the second quarter valued at approximately $230,000. CX Institutional lifted its holdings in Extra Space Storage by 28.1% during the 2nd quarter. CX Institutional now owns 1,098 shares of the real estate investment trust’s stock worth $162,000 after buying an additional 241 shares in the last quarter. Public Employees Retirement System of Ohio boosted its position in Extra Space Storage by 1.2% in the 2nd quarter. Public Employees Retirement System of Ohio now owns 368,913 shares of the real estate investment trust’s stock valued at $54,393,000 after buying an additional 4,541 shares during the last quarter. Ballentine Partners LLC bought a new position in Extra Space Storage in the 2nd quarter valued at $220,000. Finally, Argent Capital Management LLC increased its stake in shares of Extra Space Storage by 2.8% in the 2nd quarter. Argent Capital Management LLC now owns 125,205 shares of the real estate investment trust’s stock valued at $18,460,000 after buying an additional 3,435 shares during the period. Institutional investors and hedge funds own 99.11% of the company’s stock.
Analyst Upgrades and Downgrades
A number of analysts recently commented on EXR shares. BNP Paribas upgraded Extra Space Storage to a “hold” rating in a research report on Tuesday, June 24th. Evercore ISI boosted their price target on shares of Extra Space Storage from $146.00 to $147.00 and gave the stock an “in-line” rating in a research note on Monday, September 15th. BNP Paribas Exane began coverage on shares of Extra Space Storage in a report on Tuesday, June 24th. They issued a “neutral” rating and a $156.00 price objective on the stock. JPMorgan Chase & Co. lifted their target price on shares of Extra Space Storage from $160.00 to $162.00 and gave the stock a “neutral” rating in a report on Friday, June 13th. Finally, Barclays dropped their target price on shares of Extra Space Storage from $178.00 to $169.00 and set an “overweight” rating for the company in a research report on Friday, August 8th. Six investment analysts have rated the stock with a Buy rating and nine have assigned a Hold rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $148.50.
Extra Space Storage Stock Performance
EXR stock opened at $141.39 on Friday. Extra Space Storage Inc has a 1-year low of $121.03 and a 1-year high of $177.67. 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 firm has a market cap of $30.01 billion, a PE ratio of 30.67, a P/E/G ratio of 3.42 and a beta of 1.11. The business’s 50-day moving average price is $141.50 and its two-hundred day moving average price is $144.48.
Extra Space Storage (NYSE:EXR – Get Free Report) last released its quarterly earnings results on Wednesday, July 30th. The real estate investment trust reported $2.05 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 business had revenue of $841.62 million for the quarter, compared to analyst estimates of $719.43 million. During the same period in the prior year, the business earned $2.06 EPS. The company’s revenue for the quarter 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, research analysts forecast that Extra Space Storage Inc will post 8.1 earnings per share for the current year.
Extra Space Storage Dividend Announcement
The business also recently announced a quarterly dividend, which was paid on Tuesday, September 30th. Investors of record on Monday, September 15th were paid a $1.62 dividend. The ex-dividend date of this dividend was Monday, September 15th. This represents a $6.48 dividend on an annualized basis and a yield of 4.6%. Extra Space Storage’s dividend payout ratio is presently 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.
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