2,166 Shares in Extra Space Storage Inc $EXR Bought by MBB Public Markets I LLC

MBB Public Markets I LLC bought a new position in shares of Extra Space Storage Inc (NYSE:EXR) during the 1st quarter, HoldingsChannel reports. The firm bought 2,166 shares of the real estate investment trust’s stock, valued at approximately $322,000.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in EXR. JPMorgan Chase & Co. grew its stake in Extra Space Storage by 205.7% during 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 buying an additional 2,755,265 shares during the last quarter. Nuveen LLC acquired a new stake in Extra Space Storage during the 1st quarter worth about $257,917,000. AQR Capital Management LLC lifted its position in Extra Space Storage by 570.3% during the 1st quarter. AQR Capital Management LLC now owns 1,124,206 shares of the real estate investment trust’s stock worth $166,180,000 after acquiring an additional 956,500 shares during the period. Resolution Capital Ltd lifted its position in Extra Space Storage by 259.1% during the 1st quarter. Resolution Capital Ltd now owns 902,157 shares of the real estate investment trust’s stock worth $133,961,000 after acquiring an additional 650,957 shares during the period. Finally, Universal Beteiligungs und Servicegesellschaft mbH acquired a new stake in Extra Space Storage during the 4th quarter worth about $74,984,000. 99.11% of the stock is currently owned by hedge funds and other institutional investors.

Extra Space Storage Stock Performance

Shares of EXR stock opened at $147.03 on Tuesday. The stock has a market cap of $31.21 billion, a PE ratio of 31.89, a price-to-earnings-growth ratio of 3.56 and a beta of 1.09. The business has a 50-day simple moving average of $144.33 and a 200-day simple moving average of $145.76. The company has a quick ratio of 0.29, a current ratio of 0.29 and a debt-to-equity ratio of 0.88. Extra Space Storage Inc has a 52-week low of $121.03 and a 52-week high of $184.87.

Extra Space Storage (NYSE:EXR) last announced its quarterly earnings results on Wednesday, July 30th. The real estate investment trust reported $2.05 earnings per share for the quarter, missing the consensus estimate of $2.06 by ($0.01). Extra Space Storage had a net margin of 29.51% and a return on equity of 6.69%. The business had revenue of $841.62 million during the quarter, compared to analysts’ expectations of $719.43 million. During the same quarter in the prior year, the firm earned $2.06 EPS. Extra Space Storage’s revenue for the quarter was up 3.8% on a year-over-year basis. Extra Space Storage has set its FY 2025 guidance at 8.050-8.25 EPS. On average, equities analysts expect that Extra Space Storage Inc will post 8.1 EPS for the current year.

Extra Space Storage Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, September 30th. Investors of record on Monday, September 15th will be paid a $1.62 dividend. This represents a $6.48 annualized dividend and a dividend yield of 4.4%. The ex-dividend date is Monday, September 15th. Extra Space Storage’s payout ratio is currently 140.56%.

Insider Buying and Selling at Extra Space Storage

In related news, CEO Joseph D. Margolis sold 7,500 shares of Extra Space Storage stock in a transaction dated Tuesday, July 1st. The stock was sold at an average price of $150.35, for a total value of $1,127,625.00. Following the completion of the transaction, the chief executive officer owned 27,260 shares in the company, valued at $4,098,541. The trade was a 21.58% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 0.96% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of analysts have commented on the company. Truist Financial lowered their price target on 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. JPMorgan Chase & Co. lifted 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. Barclays lowered their price target on 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. Royal Bank Of Canada lowered their price target on Extra Space Storage from $160.00 to $148.00 and set a “sector perform” rating for the company in a research report on Monday, August 4th. Finally, Bank of America lifted their price target on Extra Space Storage from $155.00 to $161.00 and gave the stock a “neutral” rating in a research report on Tuesday, May 13th. Six equities research analysts have rated the stock with a Buy rating and nine have assigned a Hold rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $151.57.

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.