Y Intercept Hong Kong Ltd Purchases 16,054 Shares of Extra Space Storage Inc $EXR

Y Intercept Hong Kong Ltd lifted its position in shares of Extra Space Storage Inc (NYSE:EXR) by 162.0% during the 2nd quarter, HoldingsChannel.com reports. The firm owned 25,964 shares of the real estate investment trust’s stock after buying an additional 16,054 shares during the quarter. Y Intercept Hong Kong Ltd’s holdings in Extra Space Storage were worth $3,828,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. GKV Capital Management Co. Inc. bought a new stake in shares of Extra Space Storage during the first quarter worth about $29,000. Chung Wu Investment Group LLC bought a new stake in shares of Extra Space Storage during the second quarter worth about $29,000. Zions Bancorporation National Association UT bought a new stake in shares of Extra Space Storage during the first quarter worth about $50,000. Golden State Wealth Management LLC grew its holdings in shares of Extra Space Storage by 147.0% during the first quarter. Golden State Wealth Management LLC now owns 405 shares of the real estate investment trust’s stock worth $60,000 after purchasing an additional 241 shares during the last quarter. Finally, Ameritas Advisory Services LLC bought a new stake in shares of Extra Space Storage during the second quarter worth about $75,000. 99.11% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of research firms have weighed in on EXR. Weiss Ratings reissued a “hold (c)” rating on shares of Extra Space Storage in a research report on Wednesday, October 8th. Barclays decreased their target price on shares of Extra Space Storage from $178.00 to $169.00 and set an “overweight” rating for the company in a research report on Friday, August 8th. Truist Financial decreased their target price on shares of Extra Space Storage from $158.00 to $150.00 and set a “hold” rating for the company in a research report on Tuesday, August 19th. UBS Group decreased their target price on shares of Extra Space Storage from $169.00 to $160.00 and set a “buy” rating for the company in a research report on Tuesday, September 16th. Finally, 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. Six analysts have rated the stock with a Buy rating, nine have assigned a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $148.64.

Insider Activity

In related news, CEO Joseph D. Margolis sold 7,500 shares of the stock in a transaction on 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 transaction, the chief executive officer directly 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 Securities & Exchange Commission, which is available at this link. 1.36% of the stock is currently owned by corporate insiders.

Extra Space Storage Price Performance

Extra Space Storage stock opened at $147.07 on Wednesday. The stock has a market capitalization of $31.22 billion, a price-to-earnings ratio of 31.90, a PEG ratio of 2.70 and a beta of 1.11. Extra Space Storage Inc has a 52-week low of $121.03 and a 52-week high of $175.57. The stock’s 50 day moving average price is $144.09 and its two-hundred day moving average price is $145.30. 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 quarterly earnings results on Wednesday, July 30th. The real estate investment trust reported $2.05 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.06 by ($0.01). Extra Space Storage had a return on equity of 6.69% and a net margin of 29.51%.The business had revenue of $841.62 million for the quarter, compared to the consensus estimate of $719.43 million. During the same quarter in the previous year, the company posted $2.06 earnings per share. Extra Space Storage’s quarterly revenue was up 3.8% on a year-over-year basis. On average, equities analysts predict that Extra Space Storage Inc will post 8.1 earnings per share for the current year.

Extra Space Storage Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, September 30th. Investors of record on Monday, September 15th were issued a $1.62 dividend. This represents a $6.48 dividend on an annualized basis and a dividend yield of 4.4%. The ex-dividend date was Monday, September 15th. Extra Space Storage’s dividend payout ratio (DPR) is currently 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.