Corebridge Financial Inc. Sells 2,013 Shares of Extra Space Storage Inc $EXR

Corebridge Financial Inc. decreased its stake in shares of Extra Space Storage Inc (NYSE:EXR) by 3.6% in the 1st quarter, according to its most recent 13F filing with the SEC. The firm owned 53,723 shares of the real estate investment trust’s stock after selling 2,013 shares during the period. Corebridge Financial Inc.’s holdings in Extra Space Storage were worth $7,977,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also modified their holdings of the company. GKV Capital Management Co. Inc. bought a new stake in Extra Space Storage in the 1st quarter valued at about $29,000. Zions Bancorporation National Association UT bought a new stake in Extra Space Storage in the 1st quarter valued at about $50,000. Quarry LP boosted its holdings in Extra Space Storage by 156.1% in the 4th quarter. Quarry LP now owns 356 shares of the real estate investment trust’s stock valued at $53,000 after purchasing an additional 217 shares during the period. Golden State Wealth Management LLC boosted its holdings in Extra Space Storage by 147.0% in the 1st quarter. Golden State Wealth Management LLC now owns 405 shares of the real estate investment trust’s stock valued at $60,000 after purchasing an additional 241 shares during the period. Finally, Parvin Asset Management LLC bought a new stake in Extra Space Storage in the 4th quarter valued at about $62,000. Institutional investors own 99.11% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts have issued reports on EXR shares. Barclays cut their price objective on shares of Extra Space Storage from $178.00 to $169.00 and set an “overweight” rating for the company in a report on Friday, August 8th. Wells Fargo & Company raised shares of Extra Space Storage from an “equal weight” rating to an “overweight” rating and set a $160.00 price objective for the company in a report on Tuesday. Royal Bank Of Canada cut their price objective on shares of Extra Space Storage from $160.00 to $148.00 and set a “sector perform” rating for the company in a report on Monday, August 4th. Evercore ISI cut their price objective on shares of Extra Space Storage from $148.00 to $146.00 and set an “in-line” rating for the company in a report on Monday, August 4th. Finally, The Goldman Sachs Group restated a “neutral” rating and issued a $146.00 target price (down from $169.00) on shares of Extra Space Storage in a research report on Thursday, August 21st. Seven analysts have rated the stock with a Buy rating and nine have issued a Hold rating to the company. According to data from MarketBeat, the stock has an average rating of “Hold” and an average target price of $153.33.

Extra Space Storage Price Performance

Shares of NYSE:EXR opened at $142.33 on Friday. The firm has a 50 day moving average of $144.72 and a 200-day moving average of $146.43. The stock has a market capitalization of $30.21 billion, a PE ratio of 30.87, a PEG ratio of 3.43 and a beta of 1.07. The company has a current ratio of 0.29, a quick ratio of 0.29 and a debt-to-equity ratio of 0.88. Extra Space Storage Inc has a 12 month low of $121.03 and a 12 month high of $184.87.

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

Extra Space Storage Dividend Announcement

The business also recently disclosed 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. The ex-dividend date of this dividend is Monday, September 15th. This represents a $6.48 annualized dividend and a yield of 4.6%. Extra Space Storage’s dividend payout ratio is presently 140.56%.

Insider Buying and Selling

In related news, CEO Joseph D. Margolis sold 7,500 shares of the stock in a transaction that occurred on Tuesday, July 1st. The shares were 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 of the company’s stock, valued at $4,098,541. This represents a 21.58% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 0.96% of the stock is currently owned by 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.