Kera Capital Partners Inc. Invests $274,000 in Extra Space Storage Inc $EXR

Kera Capital Partners Inc. bought a new position in Extra Space Storage Inc (NYSE:EXR) in the second quarter, according to the company in its most recent disclosure with the SEC. The institutional investor bought 1,855 shares of the real estate investment trust’s stock, valued at approximately $274,000.

Other institutional investors and hedge funds have also bought and sold shares of the company. GKV Capital Management Co. Inc. acquired a new position in Extra Space Storage in the 1st quarter worth about $29,000. Zions Bancorporation National Association UT acquired a new position in Extra Space Storage in the 1st quarter worth about $50,000. Golden State Wealth Management LLC increased its holdings in Extra Space Storage by 147.0% in the 1st 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 in the last quarter. Wayfinding Financial LLC acquired a new position in Extra Space Storage in the 1st quarter worth about $76,000. Finally, Avalon Trust Co acquired a new position in Extra Space Storage in the 1st quarter worth about $79,000. Institutional investors and hedge funds own 99.11% of the company’s stock.

Insider Activity at Extra Space Storage

In related news, CEO Joseph D. Margolis sold 7,500 shares of the company’s stock in a transaction dated Tuesday, July 1st. The stock was sold at an average price of $150.35, for a total transaction of $1,127,625.00. Following the sale, the chief executive officer owned 27,260 shares in the company, valued at $4,098,541. This represents a 21.58% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 0.96% of the stock is currently owned by insiders.

Extra Space Storage Trading Down 0.7%

NYSE EXR opened at $147.30 on Friday. The business’s 50-day moving average price is $143.90 and its two-hundred day moving average price is $145.52. Extra Space Storage Inc has a 12 month low of $121.03 and a 12 month high of $184.87. The firm has a market capitalization of $31.26 billion, a PE ratio of 31.95, a price-to-earnings-growth ratio of 3.59 and a beta of 1.09. 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 (NYSE:EXR) last announced its 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 net margin of 29.51% and a return on equity of 6.69%. The business had revenue of $841.62 million for the quarter, compared to the consensus estimate of $719.43 million. During the same quarter in the previous year, the company earned $2.06 EPS. The firm’s revenue for the quarter 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, analysts expect that Extra Space Storage Inc will post 8.1 EPS for the current year.

Extra Space Storage Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, September 30th. Investors of record on Monday, September 15th will be given a dividend of $1.62 per share. The ex-dividend date is Monday, September 15th. This represents a $6.48 annualized dividend and a dividend yield of 4.4%. Extra Space Storage’s dividend payout ratio is presently 140.56%.

Wall Street Analyst Weigh In

EXR has been the subject of a number of recent research reports. BNP Paribas raised Extra Space Storage to a “hold” rating in a report on Tuesday, June 24th. Mizuho upped their target price on Extra Space Storage from $141.00 to $153.00 and gave the stock an “outperform” rating in a report on Wednesday, May 28th. Scotiabank reduced their price target on Extra Space Storage from $166.00 to $162.00 and set a “sector outperform” rating on the stock in a research report on Thursday, August 28th. Truist Financial reduced their price target on Extra Space Storage from $158.00 to $150.00 and set a “hold” rating on the stock in a research report on Tuesday, August 19th. Finally, BNP Paribas Exane started coverage on Extra Space Storage in a research report on Tuesday, June 24th. They issued a “neutral” rating and a $156.00 price target on the stock. Six investment analysts have rated the stock with a Buy rating and nine have issued a Hold rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $151.57.

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.