Extra Space Storage Inc $EXR Shares Acquired by Segment Wealth Management LLC

Segment Wealth Management LLC grew its position in Extra Space Storage Inc (NYSE:EXR) by 40.1% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,496 shares of the real estate investment trust’s stock after purchasing an additional 715 shares during the period. Segment Wealth Management LLC’s holdings in Extra Space Storage were worth $368,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also modified their holdings of the company. Ameritas Advisory Services LLC acquired a new position in shares of Extra Space Storage in the 2nd quarter valued at about $75,000. Empirical Financial Services LLC d.b.a. Empirical Wealth Management lifted its stake in shares of Extra Space Storage by 12.5% in the 2nd quarter. Empirical Financial Services LLC d.b.a. Empirical Wealth Management now owns 2,385 shares of the real estate investment trust’s stock valued at $352,000 after purchasing an additional 265 shares in the last quarter. Hilltop National Bank acquired a new position in shares of Extra Space Storage in the 2nd quarter valued at about $111,000. Mirae Asset Global Investments Co. Ltd. lifted its stake in shares of Extra Space Storage by 5.8% in the 2nd quarter. Mirae Asset Global Investments Co. Ltd. now owns 40,051 shares of the real estate investment trust’s stock valued at $5,905,000 after purchasing an additional 2,208 shares in the last quarter. Finally, Lecap Asset Management Ltd. purchased a new stake in shares of Extra Space Storage during the 2nd quarter valued at about $929,000. 99.11% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at Extra Space Storage

In other news, CEO Joseph D. Margolis sold 7,500 shares of the business’s stock in a transaction that occurred 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 completion of the sale, the chief executive officer directly owned 19,760 shares in the company, valued at approximately $2,794,261.60. The trade was a 27.51% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Company insiders own 0.96% of the company’s stock.

Extra Space Storage Price Performance

EXR stock opened at $142.97 on Friday. Extra Space Storage Inc has a 52-week low of $121.03 and a 52-week high of $175.57. The company has a quick ratio of 0.29, a current ratio of 0.29 and a debt-to-equity ratio of 0.88. The company has a market capitalization of $30.35 billion, a PE ratio of 31.01, a P/E/G ratio of 3.46 and a beta of 1.11. The stock’s 50 day moving average is $141.34 and its two-hundred day moving average is $144.43.

Extra Space Storage (NYSE:EXR) last issued its quarterly earnings results 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 net margin of 29.51% and a return on equity of 6.69%. The firm had revenue of $841.62 million during the quarter, compared to the consensus estimate of $719.43 million. During the same quarter last year, the firm posted $2.06 earnings per share. Extra Space Storage’s revenue was up 3.8% compared to the same quarter last year. Extra Space Storage has set its FY 2025 guidance at 8.050-8.25 EPS. Analysts predict that Extra Space Storage Inc will post 8.1 earnings per share for the current fiscal year.

Extra Space Storage Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, September 30th. Stockholders 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 4.5%. The ex-dividend date was Monday, September 15th. Extra Space Storage’s payout ratio is 140.56%.

Analyst Ratings Changes

Several analysts have issued reports on the stock. JPMorgan Chase & Co. increased their price objective on shares of Extra Space Storage from $160.00 to $162.00 and gave the company a “neutral” rating in a research report on Friday, June 13th. UBS Group lowered their price objective 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. Citigroup lowered their price objective 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. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Extra Space Storage in a research report on Saturday, September 27th. Finally, Barclays dropped their price objective 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 issued a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $148.64.

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.