RD Lewis Holdings Inc. Trims Stock Position in Extra Space Storage Inc $EXR

RD Lewis Holdings Inc. decreased its stake in Extra Space Storage Inc (NYSE:EXR) by 3.4% in the 2nd quarter, HoldingsChannel reports. The institutional investor owned 11,951 shares of the real estate investment trust’s stock after selling 421 shares during the period. Extra Space Storage accounts for 1.7% of RD Lewis Holdings Inc.’s portfolio, making the stock its 25th biggest position. RD Lewis Holdings Inc.’s holdings in Extra Space Storage were worth $1,653,000 as of its most recent SEC filing.

A number of other hedge funds have also recently modified their holdings of the stock. GKV Capital Management Co. Inc. purchased a new position in shares of Extra Space Storage during the first quarter worth approximately $29,000. Chung Wu Investment Group LLC purchased a new position in Extra Space Storage during the 2nd quarter worth $29,000. MTM Investment Management LLC acquired a new position in Extra Space Storage in the second quarter valued at $38,000. Zions Bancorporation National Association UT purchased a new stake in shares of Extra Space Storage in the first quarter valued at about $50,000. Finally, Ameritas Advisory Services LLC purchased a new stake in shares of Extra Space Storage in the second quarter valued at about $75,000. 99.11% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

EXR has been the topic of a number of research reports. Citigroup lowered their price target on Extra Space Storage from $165.00 to $150.00 and set a “neutral” rating on the stock in a report on Friday, August 22nd. Scotiabank decreased their price objective on 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. Weiss Ratings reissued a “hold (c)” rating on shares of Extra Space Storage in a report on Wednesday, October 8th. Evercore ISI restated a “cautious” rating on shares of Extra Space Storage in a research note on Monday, November 3rd. Finally, Barclays lowered their price objective on shares of 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. Six analysts have rated the stock with a Buy rating and ten have assigned a Hold rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $148.36.

Insider Buying and Selling at Extra Space Storage

In other news, CEO Joseph D. Margolis sold 7,500 shares of the stock in a transaction dated Wednesday, October 1st. The shares were sold at an average price of $141.41, for a total value of $1,060,575.00. Following the completion of the transaction, the chief executive officer owned 19,760 shares in the company, valued at $2,794,261.60. This trade represents a 27.51% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. 0.96% of the stock is currently owned by company insiders.

Extra Space Storage Stock Performance

Shares of EXR stock opened at $131.45 on Friday. The company has a market cap of $27.90 billion, a price-to-earnings ratio of 29.34, a price-to-earnings-growth ratio of 2.56 and a beta of 1.14. The stock has a 50 day simple moving average of $140.13 and a 200-day simple moving average of $144.09. Extra Space Storage Inc has a 12-month low of $121.03 and a 12-month high of $175.57. 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 posted its quarterly earnings results on Wednesday, October 29th. The real estate investment trust reported $2.08 earnings per share for the quarter, beating analysts’ consensus estimates of $2.06 by $0.02. Extra Space Storage had a return on equity of 6.53% and a net margin of 28.40%.The firm had revenue of $858.46 million for the quarter, compared to the consensus estimate of $736.26 million. During the same period in the previous year, the business earned $2.07 earnings per share. The company’s revenue for the quarter was up 4.1% compared to the same quarter last year. Extra Space Storage has set its FY 2025 guidance at 8.120-8.20 EPS. On average, equities analysts forecast that Extra Space Storage Inc will post 8.1 EPS for the current year.

Extra Space Storage Announces Dividend

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

Extra Space Storage 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.