Andra AP fonden Lowers Position in Extra Space Storage Inc $EXR

Andra AP fonden trimmed its stake in Extra Space Storage Inc (NYSE:EXR) by 20.9% during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 43,200 shares of the real estate investment trust’s stock after selling 11,400 shares during the period. Andra AP fonden’s holdings in Extra Space Storage were worth $6,369,000 as of its most recent SEC filing.

Several other hedge funds have also bought and sold shares of the stock. Ethos Financial Group LLC increased its holdings in shares of Extra Space Storage by 13.0% in the 2nd quarter. Ethos Financial Group LLC now owns 2,919 shares of the real estate investment trust’s stock worth $430,000 after buying an additional 336 shares during the last quarter. J. W. Coons Advisors LLC grew its position in Extra Space Storage by 10.3% in the second quarter. J. W. Coons Advisors LLC now owns 10,163 shares of the real estate investment trust’s stock worth $1,498,000 after acquiring an additional 951 shares in the last quarter. Huntington National Bank grew its position in Extra Space Storage by 19.4% in the second quarter. Huntington National Bank now owns 2,647 shares of the real estate investment trust’s stock worth $390,000 after acquiring an additional 431 shares in the last quarter. Machina Capital S.A.S. increased its stake in Extra Space Storage by 34.8% in the second quarter. Machina Capital S.A.S. now owns 9,760 shares of the real estate investment trust’s stock valued at $1,439,000 after acquiring an additional 2,518 shares during the last quarter. Finally, State of Michigan Retirement System raised its position in Extra Space Storage by 0.3% during the second quarter. State of Michigan Retirement System now owns 57,679 shares of the real estate investment trust’s stock valued at $8,504,000 after purchasing an additional 200 shares in the last quarter. 99.11% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

EXR has been the subject of a number of research reports. Citigroup cut their price objective on Extra Space Storage from $165.00 to $150.00 and set a “neutral” rating for the company in a report on Friday, August 22nd. Royal Bank Of Canada cut their target price on Extra Space Storage from $148.00 to $146.00 and set a “sector perform” rating for the company in a research note on Friday. Evercore ISI reiterated a “cautious” rating on shares of Extra Space Storage in a research report on Monday. Truist Financial lowered their price objective on shares of Extra Space Storage from $158.00 to $150.00 and set a “hold” rating for the company in a report on Tuesday, August 19th. Finally, Wells Fargo & Company raised shares of Extra Space Storage from an “equal weight” rating to an “overweight” rating and set a $160.00 price objective for the company in a research note on Tuesday, August 26th. Six research analysts have rated the stock with a Buy rating and ten have given a Hold rating to the company’s stock. According to MarketBeat, Extra Space Storage presently has a consensus rating of “Hold” and a consensus target price of $148.36.

Insider Buying and Selling at Extra Space Storage

In related news, CEO Joseph D. Margolis sold 7,500 shares of the business’s stock in a transaction dated Wednesday, October 1st. The stock was sold at an average price of $141.41, for a total transaction 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. The trade was a 27.51% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 1.36% of the company’s stock.

Extra Space Storage Stock Performance

Shares of EXR stock opened at $133.30 on Friday. The company has a market capitalization of $28.29 billion, a P/E ratio of 29.75, a PEG ratio of 2.56 and a beta of 1.14. Extra Space Storage Inc has a fifty-two week low of $121.03 and a fifty-two week high of $175.57. 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 stock has a 50 day moving average price of $142.90 and a two-hundred day moving average price of $145.00.

Extra Space Storage (NYSE:EXR) last issued its earnings results on Wednesday, October 29th. The real estate investment trust reported $2.08 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.06 by $0.02. Extra Space Storage had a net margin of 28.40% and a return on equity of 6.53%. The firm had revenue of $838.53 million for the quarter, compared to analysts’ expectations of $736.26 million. During the same quarter last year, the business earned $2.07 earnings per share. The business’s revenue was up 4.1% on a year-over-year basis. Extra Space Storage has set its FY 2025 guidance at 8.120-8.20 EPS. Analysts expect that Extra Space Storage Inc will post 8.1 earnings per share for the current year.

Extra Space Storage Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, September 30th. Stockholders of record on Monday, September 15th were paid a dividend of $1.62 per share. This represents a $6.48 annualized dividend and a dividend yield of 4.9%. The ex-dividend date of this dividend was Monday, September 15th. Extra Space Storage’s dividend payout ratio is 144.64%.

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.