Inspire Investing LLC Acquires 817 Shares of Extra Space Storage Inc $EXR

Inspire Investing LLC lifted its holdings in shares of Extra Space Storage Inc (NYSE:EXR) by 3.8% in the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 22,293 shares of the real estate investment trust’s stock after acquiring an additional 817 shares during the quarter. Inspire Investing LLC’s holdings in Extra Space Storage were worth $3,287,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors also recently made changes to their positions in EXR. GKV Capital Management Co. Inc. bought a new position in shares of Extra Space Storage during the first quarter valued at approximately $29,000. Chung Wu Investment Group LLC purchased a new stake in Extra Space Storage in the second quarter worth $29,000. Zions Bancorporation National Association UT purchased a new stake in Extra Space Storage in the first quarter worth $50,000. Golden State Wealth Management LLC grew its stake in 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 purchasing an additional 241 shares during the period. Finally, Ameritas Advisory Services LLC purchased a new stake in Extra Space Storage in the second quarter worth $75,000. Institutional investors own 99.11% of the company’s stock.

Extra Space Storage Stock Down 0.8%

NYSE EXR opened at $141.98 on Friday. The stock’s 50-day moving average price is $141.10 and its 200-day moving average price is $144.34. The company has a quick ratio of 0.29, a current ratio of 0.29 and a debt-to-equity ratio of 0.88. Extra Space Storage Inc has a 52 week low of $121.03 and a 52 week high of $175.57. The company has a market capitalization of $30.14 billion, a P/E ratio of 30.80, a price-to-earnings-growth ratio of 3.47 and a beta of 1.11.

Extra Space Storage (NYSE:EXR) last posted its quarterly earnings data 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 the consensus estimate of $719.43 million. During the same period last year, the business earned $2.06 EPS. The firm’s quarterly revenue was up 3.8% compared to the same quarter last year. Extra Space Storage has set its FY 2025 guidance at 8.050-8.25 EPS. On average, equities research analysts predict that Extra Space Storage Inc will post 8.1 earnings per share for the current year.

Extra Space Storage Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, September 30th. Stockholders of record on Monday, September 15th were paid a $1.62 dividend. The ex-dividend date of this dividend was Monday, September 15th. This represents a $6.48 annualized dividend and a dividend yield of 4.6%. Extra Space Storage’s dividend payout ratio (DPR) is 140.56%.

Insider Activity at Extra Space Storage

In other 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 transaction, the chief executive officer owned 19,760 shares of the company’s stock, valued at $2,794,261.60. This trade represents a 27.51% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.96% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

A number of equities research analysts have recently commented on EXR shares. Weiss Ratings reissued a “hold (c)” rating on shares of Extra Space Storage in a research note on Wednesday. The Goldman Sachs Group reissued a “neutral” rating and issued a $146.00 target price (down from $169.00) on shares of Extra Space Storage in a research note on Thursday, August 21st. 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 note on Tuesday, August 26th. Wall Street Zen raised Extra Space Storage from a “sell” rating to a “hold” rating in a research note on Saturday. Finally, Royal Bank Of Canada dropped their price objective on Extra Space Storage from $160.00 to $148.00 and set a “sector perform” rating on the stock in a research report on Monday, August 4th. Six investment analysts have rated the stock with a Buy rating, nine have given a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, Extra Space Storage currently has an average rating of “Hold” and an average price target of $148.64.

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.