Clarius Group LLC Sells 91 Shares of Extra Space Storage Inc $EXR

Clarius Group LLC decreased its stake in Extra Space Storage Inc (NYSE:EXR) by 4.9% in the second quarter, HoldingsChannel.com reports. The institutional investor owned 1,751 shares of the real estate investment trust’s stock after selling 91 shares during the period. Clarius Group LLC’s holdings in Extra Space Storage were worth $258,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also recently made changes to their positions in the stock. GKV Capital Management Co. Inc. purchased a new stake in Extra Space Storage in the 1st quarter worth approximately $29,000. Zions Bancorporation National Association UT purchased a new stake in shares of Extra Space Storage in the first quarter worth $50,000. Golden State Wealth Management LLC boosted its stake 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 worth $60,000 after acquiring an additional 241 shares during the period. Ameritas Advisory Services LLC purchased a new stake in shares of Extra Space Storage during the second quarter worth about $75,000. Finally, Wayfinding Financial LLC bought a new stake in Extra Space Storage during the 1st quarter valued at approximately $76,000. 99.11% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several research firms have weighed in on EXR. Citigroup dropped their price target on Extra Space Storage from $165.00 to $150.00 and set a “neutral” rating for the company in a research note on Friday, August 22nd. Scotiabank dropped their target price on shares of Extra Space Storage from $166.00 to $162.00 and set a “sector outperform” rating for the company in a research report on Thursday, August 28th. Truist Financial cut their target price on shares of Extra Space Storage from $158.00 to $150.00 and set a “hold” rating for the company in a research note on Tuesday, August 19th. Evercore ISI boosted their price target on shares of Extra Space Storage from $147.00 to $149.00 and gave the stock a “cautious” rating in a research note on Friday. 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 report on Tuesday, August 26th. Six equities research analysts have rated the stock with a Buy rating, nine have issued a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $148.64.

Extra Space Storage Stock Performance

Extra Space Storage stock opened at $141.38 on Tuesday. The company’s 50-day moving average price is $141.20 and its 200-day moving average price is $144.40. The company has a quick ratio of 0.29, a current ratio of 0.29 and a debt-to-equity ratio of 0.88. The company has a market cap of $30.01 billion, a PE ratio of 30.67, a price-to-earnings-growth ratio of 3.46 and a beta of 1.11. Extra Space Storage Inc has a twelve month low of $121.03 and a twelve month high of $175.57.

Extra Space Storage (NYSE:EXR) last released its quarterly earnings results on Wednesday, July 30th. The real estate investment trust reported $2.05 EPS for the quarter, missing the consensus estimate 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 company had revenue of $841.62 million during the quarter, compared to analysts’ expectations of $719.43 million. During the same quarter in the prior year, the business posted $2.06 EPS. The company’s revenue was up 3.8% on a year-over-year basis. Extra Space Storage has set its FY 2025 guidance at 8.050-8.25 EPS. On average, equities research analysts forecast that Extra Space Storage Inc will post 8.1 EPS for the current fiscal year.

Extra Space Storage Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, September 30th. Investors of record on Monday, September 15th were issued a dividend of $1.62 per share. This represents a $6.48 annualized dividend and a yield of 4.6%. The ex-dividend date was Monday, September 15th. Extra Space Storage’s dividend payout ratio is presently 140.56%.

Insiders Place Their Bets

In related news, CEO Joseph D. Margolis sold 7,500 shares of the firm’s stock in a transaction 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 completion of the sale, the chief executive officer directly 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 sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 1.36% of the company’s stock.

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.