Janney Montgomery Scott LLC Buys 408 Shares of Extra Space Storage Inc $EXR

Janney Montgomery Scott LLC grew its position in Extra Space Storage Inc (NYSE:EXR) by 6.9% during the second quarter, according to its most recent Form 13F filing with the SEC. The firm owned 6,360 shares of the real estate investment trust’s stock after purchasing an additional 408 shares during the period. Janney Montgomery Scott LLC’s holdings in Extra Space Storage were worth $938,000 at the end of the most recent quarter.

Other hedge funds have also modified their holdings of the company. GKV Capital Management Co. Inc. acquired a new position in shares of Extra Space Storage in the first quarter valued at about $29,000. Zions Bancorporation National Association UT acquired a new position in shares of Extra Space Storage in the first quarter valued at about $50,000. Golden State Wealth Management LLC increased its holdings in shares of Extra Space Storage by 147.0% in the first 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 during the period. Wayfinding Financial LLC acquired a new position in shares of Extra Space Storage in the first quarter valued at about $76,000. Finally, Avalon Trust Co acquired a new position in shares of Extra Space Storage in the first quarter valued at about $79,000. 99.11% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

EXR has been the topic of a number of research reports. Evercore ISI increased their price objective on Extra Space Storage from $147.00 to $149.00 and gave the company a “cautious” rating in a report on Friday, October 3rd. Weiss Ratings restated a “hold (c)” rating on shares of Extra Space Storage in a research note on Wednesday, October 8th. BNP Paribas Exane assumed coverage on Extra Space Storage in a research note on Tuesday, June 24th. They issued a “neutral” rating and a $156.00 target price on the stock. Barclays lowered their target price on Extra Space Storage from $178.00 to $169.00 and set an “overweight” rating on the stock in a research note on Friday, August 8th. Finally, Royal Bank Of Canada lowered their target price on Extra Space Storage from $160.00 to $148.00 and set a “sector perform” rating on the stock in a research note on Monday, August 4th. Six analysts have rated the stock with a Buy rating, nine have given a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, Extra Space Storage has an average rating of “Hold” and a consensus price target of $148.64.

Insider Buying and Selling at Extra Space Storage

In other news, CEO Joseph D. Margolis sold 7,500 shares of the firm’s stock in a transaction that occurred on Wednesday, October 1st. The stock was sold at an average price of $141.41, for a total value of $1,060,575.00. Following the transaction, the chief executive officer owned 19,760 shares in the company, valued at $2,794,261.60. This trade represents a 27.51% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this link. 1.36% of the stock is currently owned by company insiders.

Extra Space Storage Stock Performance

Shares of EXR stock opened at $147.98 on Wednesday. The company has a market capitalization of $31.41 billion, a P/E ratio of 32.10, a P/E/G ratio of 3.52 and a beta of 1.11. The business’s 50 day moving average is $141.43 and its two-hundred day moving average is $144.35. The company has a current ratio of 0.29, a quick ratio of 0.29 and a debt-to-equity ratio of 0.88. Extra Space Storage Inc has a 12-month low of $121.03 and a 12-month high of $175.57.

Extra Space Storage (NYSE:EXR) last issued its quarterly earnings results on Wednesday, July 30th. The real estate investment trust reported $2.05 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.06 by ($0.01). The business had revenue of $841.62 million for the quarter, compared to analysts’ expectations of $719.43 million. Extra Space Storage had a return on equity of 6.69% and a net margin of 29.51%.The business’s revenue for the quarter was up 3.8% compared to the same quarter last year. During the same quarter in the prior year, the company posted $2.06 EPS. Extra Space Storage has set its FY 2025 guidance at 8.050-8.25 EPS. Analysts expect that Extra Space Storage Inc will post 8.1 EPS for the current fiscal year.

Extra Space Storage Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, September 30th. Stockholders of record on Monday, September 15th were given a $1.62 dividend. This represents a $6.48 annualized dividend and a dividend yield of 4.4%. The ex-dividend date was Monday, September 15th. Extra Space Storage’s dividend payout ratio (DPR) is 140.56%.

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.