Prudential PLC Boosts Stock Holdings in Extra Space Storage Inc $EXR

Prudential PLC raised its stake in Extra Space Storage Inc (NYSE:EXR) by 110.4% during the second quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 4,274 shares of the real estate investment trust’s stock after acquiring an additional 2,243 shares during the period. Prudential PLC’s holdings in Extra Space Storage were worth $630,000 as of its most recent SEC filing.

Other large investors have also recently made changes to their positions in the company. Dynamic Technology Lab Private Ltd purchased a new position in shares of Extra Space Storage in the second quarter valued at $453,000. Vanguard Group Inc. boosted its holdings in shares of Extra Space Storage by 0.9% in the 2nd quarter. Vanguard Group Inc. now owns 34,269,652 shares of the real estate investment trust’s stock worth $5,052,717,000 after purchasing an additional 300,167 shares during the period. Nomura Asset Management Co. Ltd. raised its holdings in Extra Space Storage by 3.3% during the 2nd quarter. Nomura Asset Management Co. Ltd. now owns 373,268 shares of the real estate investment trust’s stock valued at $55,035,000 after buying an additional 11,760 shares during the period. Generali Investments Management Co LLC purchased a new stake in Extra Space Storage during the 2nd quarter valued at $170,000. Finally, Y.D. More Investments Ltd raised its stake in shares of Extra Space Storage by 25.4% in the second quarter. Y.D. More Investments Ltd now owns 944 shares of the real estate investment trust’s stock valued at $138,000 after acquiring an additional 191 shares during the period. 99.11% of the stock is owned by institutional investors.

Extra Space Storage Trading Up 2.0%

NYSE:EXR opened at $131.45 on Monday. 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 stock has a market capitalization of $27.90 billion, a price-to-earnings ratio of 29.34, a PEG ratio of 2.56 and a beta of 1.14. Extra Space Storage Inc has a 52 week low of $121.03 and a 52 week high of $175.57. The firm has a 50 day moving average of $140.13 and a 200 day moving average of $144.04.

Extra Space Storage (NYSE:EXR) last released its earnings results on Wednesday, October 29th. The real estate investment trust reported $2.08 EPS for the quarter, topping analysts’ consensus estimates of $2.06 by $0.02. The company had revenue of $858.46 million during the quarter, compared to analysts’ expectations of $736.26 million. Extra Space Storage had a net margin of 28.40% and a return on equity of 6.53%. Extra Space Storage’s revenue for the quarter was up 4.1% on a year-over-year basis. During the same period last year, the business earned $2.07 EPS. Extra Space Storage has set its FY 2025 guidance at 8.120-8.20 EPS. As a group, sell-side analysts anticipate that Extra Space Storage Inc will post 8.1 earnings per share for the current fiscal year.

Extra Space Storage Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, December 31st. Investors of record on Monday, December 15th will be issued a $1.62 dividend. The ex-dividend date of this dividend is Monday, December 15th. This represents a $6.48 dividend on an annualized basis and a yield of 4.9%. Extra Space Storage’s dividend payout ratio is presently 144.64%.

Analyst Upgrades and Downgrades

EXR has been the topic of several research analyst reports. Scotiabank cut their price objective 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. Wall Street Zen cut shares of Extra Space Storage from a “hold” rating to a “sell” rating in a research report on Saturday, November 1st. The Goldman Sachs Group restated 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. Barclays dropped their price objective on Extra Space Storage from $178.00 to $169.00 and set an “overweight” rating on the stock in a research note on Friday, August 8th. Finally, Wells Fargo & Company raised Extra Space Storage from an “equal weight” rating to an “overweight” rating and set a $160.00 target price for the company in a research report on Tuesday, August 26th. Six investment analysts have rated the stock with a Buy rating and ten have issued a Hold rating to the company’s stock. According to MarketBeat.com, Extra Space Storage currently has an average rating of “Hold” and an average price target of $148.36.

Insider Activity

In other Extra Space Storage news, CEO Joseph D. Margolis sold 7,500 shares of the stock in a transaction on Wednesday, October 1st. The shares were sold at an average price of $141.41, for a total transaction of $1,060,575.00. Following the transaction, the chief executive officer directly 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 document filed with the SEC, which is accessible through this hyperlink. 0.96% of the stock is owned by company insiders.

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.