Extra Space Storage Inc $EXR Position Lifted by CHURCHILL MANAGEMENT Corp

CHURCHILL MANAGEMENT Corp raised its stake in shares of Extra Space Storage Inc (NYSE:EXR) by 4.4% during the second quarter, HoldingsChannel reports. The fund owned 64,634 shares of the real estate investment trust’s stock after acquiring an additional 2,706 shares during the quarter. CHURCHILL MANAGEMENT Corp’s holdings in Extra Space Storage were worth $9,530,000 as of its most recent SEC filing.

Other large investors have also recently added to or reduced their stakes in the company. GKV Capital Management Co. Inc. bought a new position in Extra Space Storage during the 1st quarter valued at $29,000. Zions Bancorporation National Association UT acquired a new stake in shares of Extra Space Storage during the first quarter worth $50,000. Golden State Wealth Management LLC raised 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 period. Wayfinding Financial LLC acquired a new stake in shares of Extra Space Storage during the first quarter worth $76,000. Finally, Avalon Trust Co acquired a new stake in shares of Extra Space Storage during the first quarter worth $79,000. 99.11% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

EXR has been the topic of a number of research reports. The Goldman Sachs Group reissued a “neutral” rating and set a $146.00 target price (down from $169.00) on shares of Extra Space Storage in a report on Thursday, August 21st. Evercore ISI increased their target price on shares of Extra Space Storage from $146.00 to $147.00 and gave the stock an “in-line” rating in a report on Monday, September 15th. JPMorgan Chase & Co. increased their target price on shares of Extra Space Storage from $160.00 to $162.00 and gave the stock a “neutral” rating in a report on Friday, June 13th. Royal Bank Of Canada dropped their target price on shares of 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. Finally, Citigroup dropped their target price on shares of Extra Space Storage from $165.00 to $150.00 and set a “neutral” rating on the stock in a report on Friday, August 22nd. Six research analysts have rated the stock with a Buy rating and nine have given a Hold rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $148.50.

Extra Space Storage Stock Up 0.3%

EXR stock opened at $141.31 on Thursday. 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 fifty-two week low of $121.03 and a fifty-two week high of $177.67. The firm’s 50-day simple moving average is $141.68 and its 200 day simple moving average is $144.52. The stock has a market cap of $29.99 billion, a PE ratio of 30.65, a price-to-earnings-growth ratio of 3.42 and a beta of 1.11.

Extra Space Storage (NYSE:EXR) last released its quarterly earnings data on Wednesday, July 30th. The real estate investment trust reported $2.05 earnings per share 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 firm had revenue of $841.62 million during the quarter, compared to analyst estimates of $719.43 million. During the same period last year, the business earned $2.06 EPS. The firm’s revenue 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. As a group, sell-side analysts predict that Extra Space Storage Inc will post 8.1 EPS for the current year.

Extra Space Storage Dividend Announcement

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

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.