Extra Space Storage Inc $EXR Shares Sold by American Assets Capital Advisers LLC

American Assets Capital Advisers LLC cut its stake in Extra Space Storage Inc (NYSE:EXR) by 61.3% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 14,804 shares of the real estate investment trust’s stock after selling 23,407 shares during the quarter. Extra Space Storage makes up approximately 2.2% of American Assets Capital Advisers LLC’s investment portfolio, making the stock its 15th largest position. American Assets Capital Advisers LLC’s holdings in Extra Space Storage were worth $2,183,000 at the end of the most recent reporting period.

Other hedge funds have also bought and sold shares of the company. FARMERS & MERCHANTS TRUST Co OF LONG BEACH lifted its stake in shares of Extra Space Storage by 4.6% in the 2nd quarter. FARMERS & MERCHANTS TRUST Co OF LONG BEACH now owns 1,825 shares of the real estate investment trust’s stock valued at $269,000 after purchasing an additional 80 shares during the period. Farther Finance Advisors LLC increased its holdings in Extra Space Storage by 6.5% in the second quarter. Farther Finance Advisors LLC now owns 1,559 shares of the real estate investment trust’s stock valued at $230,000 after buying an additional 95 shares in the last quarter. Blair William & Co. IL raised its position in shares of Extra Space Storage by 4.1% in the first quarter. Blair William & Co. IL now owns 2,693 shares of the real estate investment trust’s stock worth $400,000 after acquiring an additional 105 shares during the period. Benjamin Edwards Inc. boosted its stake in shares of Extra Space Storage by 2.5% during the 1st quarter. Benjamin Edwards Inc. now owns 4,759 shares of the real estate investment trust’s stock worth $707,000 after acquiring an additional 118 shares in the last quarter. Finally, Moody Lynn & Lieberson LLC grew its position in shares of Extra Space Storage by 0.4% during the 2nd quarter. Moody Lynn & Lieberson LLC now owns 28,289 shares of the real estate investment trust’s stock valued at $4,171,000 after acquiring an additional 119 shares during the period. Hedge funds and other institutional investors own 99.11% of the company’s stock.

Insider Transactions at Extra Space Storage

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

Extra Space Storage Stock Up 1.7%

Shares of EXR opened at $133.30 on Friday. The stock has a 50 day moving average price of $142.90 and a 200 day moving average price of $145.00. Extra Space Storage Inc has a one year low of $121.03 and a one year 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 market capitalization of $28.29 billion, a price-to-earnings ratio of 29.75, a PEG ratio of 2.56 and a beta of 1.14.

Extra Space Storage (NYSE:EXR) last announced its quarterly earnings data on Wednesday, October 29th. The real estate investment trust reported $2.08 earnings per share for the quarter, beating analysts’ consensus estimates of $2.06 by $0.02. Extra Space Storage had a return on equity of 6.53% and a net margin of 28.40%.The company had revenue of $838.53 million for the quarter, compared to analyst estimates of $736.26 million. During the same quarter last year, the firm posted $2.07 EPS. The firm’s revenue for the quarter 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. Equities research analysts forecast 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 declared a quarterly dividend, which was paid on Tuesday, September 30th. Investors of record on Monday, September 15th were given a dividend of $1.62 per share. The ex-dividend date was Monday, September 15th. This represents a $6.48 dividend on an annualized basis and a yield of 4.9%. Extra Space Storage’s payout ratio is presently 144.64%.

Analyst Ratings Changes

A number of equities analysts recently weighed in on EXR shares. Truist Financial reduced their price target on Extra Space Storage from $158.00 to $150.00 and set a “hold” rating for the company in a report on Tuesday, August 19th. Royal Bank Of Canada cut their price objective on Extra Space Storage from $148.00 to $146.00 and set a “sector perform” rating for the company in a research report on Friday. UBS Group decreased their target price on Extra Space Storage from $169.00 to $160.00 and set a “buy” rating on the stock in a research report on Tuesday, September 16th. Barclays dropped their price target on shares of 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, The Goldman Sachs Group restated a “neutral” rating and set a $146.00 price objective (down from $169.00) on shares of Extra Space Storage in a research report on Thursday, August 21st. Six research analysts have rated the stock with a Buy rating and ten have given a Hold rating to the stock. According to MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $148.36.

Extra Space Storage Company 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.