Strs Ohio Acquires New Holdings in Extra Space Storage Inc $EXR

Strs Ohio bought a new stake in shares of Extra Space Storage Inc (NYSE:EXR) in the 1st quarter, HoldingsChannel reports. The firm bought 395,644 shares of the real estate investment trust’s stock, valued at approximately $58,749,000.

Several other institutional investors and hedge funds have also added to or reduced their stakes in EXR. Siemens Fonds Invest GmbH grew its holdings in Extra Space Storage by 3.0% during the 4th quarter. Siemens Fonds Invest GmbH now owns 2,320 shares of the real estate investment trust’s stock valued at $342,000 after buying an additional 68 shares in the last quarter. Exchange Traded Concepts LLC raised its holdings in shares of Extra Space Storage by 8.5% during the first quarter. Exchange Traded Concepts LLC now owns 934 shares of the real estate investment trust’s stock valued at $139,000 after acquiring an additional 73 shares in the last quarter. Naviter Wealth LLC raised its holdings in Extra Space Storage by 0.6% in the first quarter. Naviter Wealth LLC now owns 13,645 shares of the real estate investment trust’s stock worth $2,007,000 after purchasing an additional 82 shares in the last quarter. Mackenzie Financial Corp increased its holdings in shares of Extra Space Storage by 0.5% during the fourth quarter. Mackenzie Financial Corp now owns 18,363 shares of the real estate investment trust’s stock valued at $2,747,000 after acquiring an additional 90 shares in the last quarter. Finally, Taylor Frigon Capital Management LLC boosted its position in shares of Extra Space Storage by 0.8% during the first quarter. Taylor Frigon Capital Management LLC now owns 12,248 shares of the real estate investment trust’s stock valued at $1,819,000 after buying an additional 93 shares during the last quarter. 99.11% of the stock is owned by institutional investors and hedge funds.

Extra Space Storage Price Performance

NYSE:EXR opened at $145.27 on Thursday. Extra Space Storage Inc has a one year low of $121.03 and a one year high of $184.87. The company has a debt-to-equity ratio of 0.88, a quick ratio of 0.29 and a current ratio of 0.29. The stock has a market cap of $30.83 billion, a PE ratio of 31.51, a P/E/G ratio of 3.51 and a beta of 1.09. The stock has a 50 day moving average price of $144.09 and a 200 day moving average price of $145.75.

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 (EPS) for the quarter, missing the consensus estimate of $2.06 by ($0.01). The business had revenue of $841.62 million for the quarter, compared to analyst estimates of $719.43 million. Extra Space Storage had a return on equity of 6.69% and a net margin of 29.51%.Extra Space Storage’s revenue was up 3.8% compared to the same quarter last year. During the same period last year, the business earned $2.06 EPS. Extra Space Storage has set its FY 2025 guidance at 8.050-8.25 EPS. Equities research analysts expect that Extra Space Storage Inc will post 8.1 EPS for the current fiscal year.

Extra Space Storage Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, September 30th. Shareholders 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 yield of 4.5%. Extra Space Storage’s dividend payout ratio (DPR) is 140.56%.

Analysts Set New Price Targets

Several analysts recently issued reports on the company. Scotiabank decreased their target price on Extra Space Storage from $166.00 to $162.00 and set a “sector outperform” rating on the stock in a research note on Thursday, August 28th. Wells Fargo & Company upgraded Extra Space Storage from an “equal weight” rating to an “overweight” rating and set a $160.00 price objective for the company in a report on Tuesday, August 26th. BNP Paribas upgraded Extra Space Storage to a “hold” rating in a report on Tuesday, June 24th. JPMorgan Chase & Co. boosted their price target on Extra Space Storage from $160.00 to $162.00 and gave the stock a “neutral” rating in a research report on Friday, June 13th. Finally, Evercore ISI reduced their target price on Extra Space Storage from $148.00 to $146.00 and set an “in-line” rating on the stock in a research report on Monday, August 4th. Six analysts have rated the stock with a Buy rating and nine have assigned a Hold rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $151.57.

Insider Transactions at Extra Space Storage

In other Extra Space Storage news, CEO Joseph D. Margolis sold 7,500 shares of the firm’s stock in a transaction on 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 completion of the sale, the chief executive officer owned 27,260 shares of the company’s stock, valued at $4,098,541. This trade represents a 21.58% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 0.96% of the stock is currently 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.