Fox Run Management L.L.C. Invests $372,000 in Extra Space Storage Inc $EXR

Fox Run Management L.L.C. purchased a new stake in Extra Space Storage Inc (NYSE:EXR) in the second quarter, Holdings Channel reports. The firm purchased 2,524 shares of the real estate investment trust’s stock, valued at approximately $372,000.

Several other hedge funds and other institutional investors also recently bought and sold shares of EXR. Mattson Financial Services LLC increased its stake in shares of Extra Space Storage by 17.7% during the first quarter. Mattson Financial Services LLC now owns 21,231 shares of the real estate investment trust’s stock valued at $3,153,000 after buying an additional 3,187 shares during the period. IFP Advisors Inc grew its holdings in Extra Space Storage by 1,376.5% during the 1st quarter. IFP Advisors Inc now owns 1,698 shares of the real estate investment trust’s stock worth $252,000 after acquiring an additional 1,583 shares in the last quarter. Janney Montgomery Scott LLC grew its holdings in Extra Space Storage by 6.9% during the 2nd quarter. Janney Montgomery Scott LLC now owns 6,360 shares of the real estate investment trust’s stock worth $938,000 after acquiring an additional 408 shares in the last quarter. Y Intercept Hong Kong Ltd purchased a new position in Extra Space Storage during the 1st quarter valued at about $1,472,000. Finally, waypoint wealth counsel purchased a new position in Extra Space Storage during the 2nd quarter valued at about $359,000. Institutional investors own 99.11% of the company’s stock.

Analyst Ratings Changes

EXR has been the subject of several research reports. Citigroup lowered their price target on shares of Extra Space Storage from $165.00 to $150.00 and set a “neutral” rating for the company in a research report on Friday, August 22nd. UBS Group lowered their target price on Extra Space Storage from $169.00 to $160.00 and set a “buy” rating for the company in a report on Tuesday, September 16th. Barclays dropped their target price on Extra Space Storage from $178.00 to $169.00 and set an “overweight” rating on the stock in a research report on Friday, August 8th. The Goldman Sachs Group reissued a “neutral” rating and issued a $146.00 price target (down from $169.00) on shares of Extra Space Storage in a research report on Thursday, August 21st. Finally, Wells Fargo & Company upgraded 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 analysts have rated the stock with a Buy rating and ten have given a Hold rating to the company. According to data from MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $148.36.

Extra Space Storage Price Performance

NYSE EXR opened at $132.78 on Thursday. The firm’s fifty day simple moving average is $142.29 and its two-hundred day simple moving average is $144.83. 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. The firm has a market capitalization of $28.18 billion, a P/E ratio of 29.64, a P/E/G ratio of 2.56 and a beta of 1.14.

Extra Space Storage (NYSE:EXR) last issued its quarterly earnings data on Wednesday, October 29th. The real estate investment trust reported $2.08 EPS for the quarter, beating the consensus estimate of $2.06 by $0.02. The firm had revenue of $838.53 million during the quarter, compared to analyst estimates of $736.26 million. Extra Space Storage had a return on equity of 6.53% and a net margin of 28.40%.The business’s revenue for the quarter was up 4.1% compared to the same quarter last year. During the same quarter in the prior year, the business posted $2.07 EPS. Extra Space Storage has set its FY 2025 guidance at 8.120-8.20 EPS. Analysts forecast that Extra Space Storage Inc will post 8.1 EPS for the current fiscal year.

Extra Space Storage Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, September 30th. Shareholders of record on Monday, September 15th were paid a $1.62 dividend. 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 dividend payout ratio (DPR) is 144.64%.

Insiders Place Their Bets

In other Extra Space Storage news, CEO Joseph D. Margolis sold 7,500 shares of the firm’s stock in a transaction dated 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 owned 19,760 shares of the company’s stock, 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 Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 1.36% of the company’s stock.

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.