Carnegie Investment Counsel Has $226,000 Stock Holdings in Extra Space Storage Inc $EXR

Carnegie Investment Counsel lessened its stake in shares of Extra Space Storage Inc (NYSE:EXR) by 13.8% in the second quarter, according to the company in its most recent filing with the SEC. The fund owned 1,535 shares of the real estate investment trust’s stock after selling 245 shares during the quarter. Carnegie Investment Counsel’s holdings in Extra Space Storage were worth $226,000 as of its most recent SEC filing.

A number of other hedge funds also recently modified their holdings of the stock. FARMERS & MERCHANTS TRUST Co OF LONG BEACH increased its position in Extra Space Storage by 4.6% during the second quarter. FARMERS & MERCHANTS TRUST Co OF LONG BEACH now owns 1,825 shares of the real estate investment trust’s stock worth $269,000 after acquiring an additional 80 shares during the period. Naviter Wealth LLC increased its position in Extra Space Storage by 0.6% during the first quarter. Naviter Wealth LLC now owns 13,645 shares of the real estate investment trust’s stock worth $2,007,000 after acquiring an additional 82 shares during the period. Taylor Frigon Capital Management LLC increased its position in Extra Space Storage by 0.8% during the first quarter. Taylor Frigon Capital Management LLC now owns 12,248 shares of the real estate investment trust’s stock worth $1,819,000 after acquiring an additional 93 shares during the period. Farther Finance Advisors LLC increased its position in Extra Space Storage by 6.5% during the second quarter. Farther Finance Advisors LLC now owns 1,559 shares of the real estate investment trust’s stock worth $230,000 after acquiring an additional 95 shares during the period. Finally, Mather Group LLC. increased its position in Extra Space Storage by 3.0% during the first quarter. Mather Group LLC. now owns 3,594 shares of the real estate investment trust’s stock worth $534,000 after acquiring an additional 105 shares during the period. Institutional investors and hedge funds own 99.11% of the company’s stock.

Extra Space Storage Trading Down 0.2%

EXR opened at $150.46 on Monday. The company’s 50 day moving average is $143.69 and its 200-day moving average is $145.09. Extra Space Storage Inc has a 1-year low of $121.03 and a 1-year high of $175.57. The company has a current ratio of 0.29, a quick ratio of 0.29 and a debt-to-equity ratio of 0.88. The company has a market cap of $31.93 billion, a P/E ratio of 32.64, a PEG ratio of 2.71 and a beta of 1.11.

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 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 company had revenue of $841.62 million during the quarter, compared to analyst estimates of $719.43 million. During the same quarter in the previous year, the business posted $2.06 earnings per share. The company’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. Equities research analysts predict that Extra Space Storage Inc will post 8.1 earnings per share for the current fiscal year.

Extra Space Storage Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, September 30th. Stockholders of record on Monday, September 15th were paid a $1.62 dividend. This represents a $6.48 dividend on an annualized basis and a dividend yield of 4.3%. The ex-dividend date was Monday, September 15th. Extra Space Storage’s dividend payout ratio (DPR) is presently 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 that occurred on Wednesday, October 1st. The shares were sold at an average price of $141.41, for a total transaction of $1,060,575.00. Following the sale, 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 1.36% of the company’s stock.

Analyst Upgrades and Downgrades

EXR has been the topic of several recent analyst reports. Wells Fargo & Company raised shares of Extra Space Storage from an “equal weight” rating to an “overweight” rating and set a $160.00 target price on the stock in a report on Tuesday, August 26th. Weiss Ratings reissued a “hold (c)” rating on shares of Extra Space Storage in a report on Saturday. UBS Group decreased their target price on shares of Extra Space Storage from $169.00 to $160.00 and set a “buy” rating on the stock in a report on Tuesday, September 16th. Royal Bank Of Canada decreased 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, Scotiabank decreased their target price on shares of Extra Space Storage from $166.00 to $162.00 and set a “sector outperform” rating on the stock in a report on Thursday, August 28th. Six investment analysts have rated the stock with a Buy rating, nine have assigned a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, Extra Space Storage presently has a consensus rating of “Hold” and a consensus target price of $148.64.

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.