Extra Space Storage Inc $EXR Shares Sold by Massachusetts Financial Services Co. MA

Massachusetts Financial Services Co. MA reduced its holdings in Extra Space Storage Inc (NYSE:EXR) by 0.5% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 3,063,358 shares of the real estate investment trust’s stock after selling 14,219 shares during the quarter. Massachusetts Financial Services Co. MA owned 1.44% of Extra Space Storage worth $451,662,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Ignite Planners LLC boosted its holdings in Extra Space Storage by 5.4% during the second quarter. Ignite Planners LLC now owns 6,726 shares of the real estate investment trust’s stock worth $996,000 after buying an additional 345 shares in the last quarter. Allianz SE lifted its position in shares of Extra Space Storage by 217.5% during the 2nd quarter. Allianz SE now owns 28,611 shares of the real estate investment trust’s stock valued at $4,218,000 after acquiring an additional 19,601 shares during the last quarter. Police & Firemen s Retirement System of New Jersey boosted its stake in shares of Extra Space Storage by 5.8% during the 2nd quarter. Police & Firemen s Retirement System of New Jersey now owns 32,124 shares of the real estate investment trust’s stock worth $4,736,000 after acquiring an additional 1,770 shares in the last quarter. Geode Capital Management LLC grew its holdings in shares of Extra Space Storage by 1.8% in the 2nd quarter. Geode Capital Management LLC now owns 5,795,253 shares of the real estate investment trust’s stock worth $851,070,000 after acquiring an additional 100,637 shares during the last quarter. Finally, National Pension Service grew its holdings in shares of Extra Space Storage by 0.7% in the 2nd quarter. National Pension Service now owns 319,065 shares of the real estate investment trust’s stock worth $47,043,000 after acquiring an additional 2,370 shares during the last quarter. 99.11% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently commented on the company. Scotiabank reduced their target price on Extra Space Storage from $166.00 to $162.00 and set a “sector outperform” rating for the company in a report on Thursday, August 28th. Barclays cut 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. 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 report on Tuesday, August 19th. Evercore ISI reissued a “cautious” rating on shares of Extra Space Storage in a research report on Monday, November 3rd. Finally, Wells Fargo & Company upgraded shares of Extra Space Storage from an “equal weight” rating to an “overweight” rating and set a $160.00 price target on the stock in a report on Tuesday, August 26th. Six research analysts have rated the stock with a Buy rating and ten have issued a Hold rating to the company’s stock. According to MarketBeat.com, Extra Space Storage currently has a consensus rating of “Hold” and an average target price of $148.36.

Extra Space Storage Price Performance

Shares of EXR opened at $132.89 on Friday. The business’s 50-day moving average is $141.77 and its 200-day moving average is $144.70. The company has a debt-to-equity ratio of 0.88, a current ratio of 0.29 and a quick ratio of 0.29. The company has a market capitalization of $28.21 billion, a price-to-earnings ratio of 29.66, a P/E/G ratio of 2.56 and a beta of 1.14. Extra Space Storage Inc has a fifty-two week low of $121.03 and a fifty-two week high of $175.57.

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 (EPS) for the quarter, beating analysts’ consensus estimates of $2.06 by $0.02. Extra Space Storage had a net margin of 28.40% and a return on equity of 6.53%. The company had revenue of $858.46 million during the quarter, compared to analyst estimates of $736.26 million. During the same quarter last year, the business posted $2.07 EPS. The company’s revenue for the quarter was up 4.1% on a year-over-year basis. Extra Space Storage has set its FY 2025 guidance at 8.120-8.20 EPS. Equities research analysts expect 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. Investors of record on Monday, September 15th were given a dividend of $1.62 per share. The ex-dividend date of this dividend was Monday, September 15th. This represents a $6.48 dividend on an annualized basis and a yield of 4.9%. Extra Space Storage’s dividend payout ratio (DPR) is presently 144.64%.

Insider Buying and Selling

In other Extra Space Storage news, CEO Joseph D. Margolis sold 7,500 shares of the company’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 transaction, the chief executive officer directly owned 19,760 shares of the company’s stock, valued at $2,794,261.60. This represents a 27.51% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. 0.96% of the stock is owned by company insiders.

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.