Pensionfund DSM Netherlands Has $2.50 Million Stake in Extra Space Storage Inc $EXR

Pensionfund DSM Netherlands trimmed its position in shares of Extra Space Storage Inc (NYSE:EXR) by 5.6% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 16,840 shares of the real estate investment trust’s stock after selling 1,000 shares during the period. Extra Space Storage accounts for approximately 1.7% of Pensionfund DSM Netherlands’ investment portfolio, making the stock its 18th biggest position. Pensionfund DSM Netherlands’ holdings in Extra Space Storage were worth $2,501,000 at the end of the most recent reporting period.

Other institutional investors have also added to or reduced their stakes in the company. GKV Capital Management Co. Inc. acquired a new position in shares of Extra Space Storage in the first quarter valued at $29,000. Zions Bancorporation National Association UT acquired a new position in shares of Extra Space Storage in the first quarter valued at about $50,000. Golden State Wealth Management LLC grew 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 valued at $60,000 after acquiring an additional 241 shares in the last quarter. Wayfinding Financial LLC bought a new stake in Extra Space Storage during the first quarter worth about $76,000. Finally, Avalon Trust Co bought a new stake in Extra Space Storage during the first quarter worth about $79,000. 99.11% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

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

Wall Street Analysts Forecast Growth

EXR has been the subject of several recent analyst reports. The Goldman Sachs Group reaffirmed a “neutral” rating and set a $146.00 price objective (down previously from $169.00) on shares of Extra Space Storage in a research report on Thursday, August 21st. Mizuho raised their price objective on shares of Extra Space Storage from $141.00 to $153.00 and gave the company an “outperform” rating in a report on Wednesday, May 28th. Wall Street Zen raised shares of Extra Space Storage from a “sell” rating to a “hold” rating in a research report on Tuesday. Citigroup decreased their target price 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. Finally, Scotiabank reduced their price objective 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. Six research analysts have rated the stock with a Buy rating and nine have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $151.57.

Extra Space Storage Trading Down 0.7%

Shares of EXR opened at $147.30 on Friday. The business has a 50-day moving average of $143.90 and a 200 day moving average of $145.58. Extra Space Storage Inc has a fifty-two week low of $121.03 and a fifty-two week high of $184.87. The firm has a market cap of $31.26 billion, a P/E ratio of 31.95, a price-to-earnings-growth ratio of 3.59 and a beta of 1.09. The company has a debt-to-equity ratio of 0.88, a quick ratio of 0.29 and a current ratio of 0.29.

Extra Space Storage (NYSE:EXR) last posted its earnings results on Wednesday, July 30th. The real estate investment trust reported $2.05 earnings per share for the quarter, missing analysts’ consensus estimates 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 company had revenue of $841.62 million for the quarter, compared to analysts’ expectations of $719.43 million. During the same period in the previous year, the firm 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. As a group, research analysts forecast 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. Stockholders of record on Monday, September 15th will be paid a dividend of $1.62 per share. The ex-dividend date of this dividend is Monday, September 15th. This represents a $6.48 annualized dividend and a dividend yield of 4.4%. Extra Space Storage’s payout ratio is 140.56%.

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.