Strs Ohio Increases Stock Position in Extra Space Storage Inc $EXR

Strs Ohio grew its stake in shares of Extra Space Storage Inc (NYSE:EXR) by 6.3% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 420,391 shares of the real estate investment trust’s stock after acquiring an additional 24,747 shares during the period. Strs Ohio owned about 0.20% of Extra Space Storage worth $61,982,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently modified their holdings of the company. Vanguard Group Inc. boosted its holdings in shares of Extra Space Storage by 0.9% during the first quarter. Vanguard Group Inc. now owns 33,969,485 shares of the real estate investment trust’s stock valued at $5,044,129,000 after acquiring an additional 295,556 shares during the period. JPMorgan Chase & Co. grew its holdings in shares of Extra Space Storage by 205.7% in the 1st quarter. JPMorgan Chase & Co. now owns 4,094,555 shares of the real estate investment trust’s stock worth $608,001,000 after acquiring an additional 2,755,265 shares during the last quarter. Massachusetts Financial Services Co. MA increased its holdings in shares of Extra Space Storage by 0.4% in the 1st quarter. Massachusetts Financial Services Co. MA now owns 3,077,577 shares of the real estate investment trust’s stock valued at $456,989,000 after purchasing an additional 12,607 shares during the period. Invesco Ltd. raised its holdings in shares of Extra Space Storage by 18.7% during the 1st quarter. Invesco Ltd. now owns 3,056,384 shares of the real estate investment trust’s stock valued at $453,843,000 after purchasing an additional 480,642 shares in the last quarter. Finally, Northern Trust Corp boosted its holdings in shares of Extra Space Storage by 1.7% during the 1st quarter. Northern Trust Corp now owns 2,922,828 shares of the real estate investment trust’s stock worth $434,011,000 after buying an additional 47,779 shares during the period. Institutional investors and hedge funds own 99.11% of the company’s stock.

Insider Activity at Extra Space Storage

In other news, CEO Joseph D. Margolis sold 7,500 shares of the business’s stock in a transaction dated Wednesday, October 1st. The stock was sold at an average price of $141.41, for a total value of $1,060,575.00. Following the completion of the sale, the chief executive officer owned 19,760 shares of the company’s stock, valued at approximately $2,794,261.60. The trade was a 27.51% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Company insiders own 0.96% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts have issued reports on EXR shares. Truist Financial lowered their price target on shares of Extra Space Storage from $158.00 to $150.00 and set a “hold” rating on the stock in a report on Tuesday, August 19th. Weiss Ratings reiterated a “hold (c)” rating on shares of Extra Space Storage in a report on Wednesday, October 8th. Royal Bank Of Canada reduced their target price on Extra Space Storage from $160.00 to $148.00 and set a “sector perform” rating on the stock in a report on Monday, August 4th. UBS Group lowered their price target on Extra Space Storage from $169.00 to $160.00 and set a “buy” rating for the company in a report on Tuesday, September 16th. Finally, Barclays cut their price target on Extra Space Storage from $178.00 to $169.00 and set an “overweight” rating on the stock in a report on Friday, August 8th. Six investment analysts have rated the stock with a Buy rating, nine have given a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, Extra Space Storage has a consensus rating of “Hold” and a consensus price target of $148.64.

Extra Space Storage Trading Down 3.5%

Shares of EXR stock opened at $141.82 on Thursday. The company has a market capitalization of $30.10 billion, a price-to-earnings ratio of 30.76, a PEG ratio of 2.65 and a beta of 1.11. 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 Inc has a 52-week low of $121.03 and a 52-week high of $175.57. The company has a 50-day simple moving average of $144.13 and a two-hundred day simple moving average of $145.35.

Extra Space Storage (NYSE:EXR) last issued its earnings results on Wednesday, October 29th. The real estate investment trust reported $2.08 earnings per share for the quarter, topping analysts’ consensus estimates of $2.06 by $0.02. The firm had revenue of $838.53 million during the quarter, compared to analyst estimates of $736.26 million. Extra Space Storage had a net margin of 29.51% and a return on equity of 6.69%. The company’s quarterly revenue was up 4.1% on a year-over-year basis. During the same quarter last year, the business earned $2.07 earnings per share. Extra Space Storage has set its FY 2025 guidance at 8.120-8.20 EPS. Research analysts anticipate that Extra Space Storage Inc will post 8.1 EPS for the current fiscal year.

Extra Space Storage Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, September 30th. Stockholders of record on Monday, September 15th were given a dividend of $1.62 per share. The ex-dividend date was Monday, September 15th. This represents a $6.48 annualized dividend and a dividend yield of 4.6%. Extra Space Storage’s dividend payout ratio is 140.56%.

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.