Fisher Asset Management LLC Has $5.77 Million Holdings in Extra Space Storage Inc $EXR

Fisher Asset Management LLC cut its position in shares of Extra Space Storage Inc (NYSE:EXR) by 12.6% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 39,115 shares of the real estate investment trust’s stock after selling 5,637 shares during the quarter. Fisher Asset Management LLC’s holdings in Extra Space Storage were worth $5,767,000 at the end of the most recent reporting period.

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

Analyst Upgrades and Downgrades

A number of equities analysts have recently issued reports on the stock. UBS Group cut their price objective on shares of 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. Scotiabank cut their price target on Extra Space Storage from $166.00 to $162.00 and set a “sector outperform” rating on the stock in a report on Thursday, August 28th. Royal Bank Of Canada decreased their price objective on Extra Space Storage from $148.00 to $146.00 and set a “sector perform” rating for the company in a report on Friday, November 7th. Wells Fargo & Company raised Extra Space Storage from an “equal weight” rating to an “overweight” rating and set a $160.00 target price on the stock in a research report on Tuesday, August 26th. Finally, The Goldman Sachs Group reissued a “neutral” rating and issued a $146.00 price target (down previously from $169.00) on shares of Extra Space Storage in a research report on Thursday, August 21st. Six investment analysts have rated the stock with a Buy rating and ten have given a Hold rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $148.36.

Extra Space Storage Stock Down 0.9%

Shares of NYSE:EXR opened at $131.02 on Friday. The business’s 50 day moving average is $138.62 and its 200 day moving average is $143.10. Extra Space Storage Inc has a 12-month low of $121.03 and a 12-month high of $165.54. The stock has a market cap of $27.81 billion, a price-to-earnings ratio of 29.24, a PEG ratio of 2.52 and a beta of 1.27. The company has a quick ratio of 0.24, a current ratio of 0.24 and a debt-to-equity ratio of 0.89.

Extra Space Storage (NYSE:EXR) last released its quarterly earnings results on Wednesday, October 29th. The real estate investment trust reported $2.08 EPS for the quarter, beating analysts’ consensus estimates of $2.06 by $0.02. The business had revenue of $858.46 million during the quarter, compared to analyst estimates of $736.26 million. Extra Space Storage had a return on equity of 6.56% and a net margin of 28.40%.Extra Space Storage’s quarterly revenue was up 4.1% compared to the same quarter last year. During the same period in the prior year, the firm posted $2.07 EPS. Extra Space Storage has set its FY 2025 guidance at 8.120-8.20 EPS. On average, sell-side 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 company also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 31st. Shareholders of record on Monday, December 15th will be given a $1.62 dividend. This represents a $6.48 dividend on an annualized basis and a yield of 4.9%. The ex-dividend date of this dividend is Monday, December 15th. Extra Space Storage’s dividend payout ratio is presently 144.64%.

Insider Buying and Selling

In related news, CEO Joseph D. Margolis sold 7,500 shares of Extra Space Storage stock in a transaction on 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 sale, the chief executive officer directly owned 19,760 shares in the company, valued at approximately $2,794,261.60. This trade represents a 27.51% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Company insiders own 0.96% of the company’s stock.

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.