Focus Partners Advisor Solutions LLC Has $1.02 Million Stock Holdings in Extra Space Storage Inc $EXR

Focus Partners Advisor Solutions LLC grew its position in Extra Space Storage Inc (NYSE:EXR) by 142.3% during the 2nd quarter, according to the company in its most recent disclosure with the SEC. The firm owned 6,936 shares of the real estate investment trust’s stock after purchasing an additional 4,074 shares during the period. Focus Partners Advisor Solutions LLC’s holdings in Extra Space Storage were worth $1,023,000 at the end of the most recent reporting period.

Several other hedge funds also recently bought and sold shares of EXR. JPMorgan Chase & Co. raised its holdings in Extra Space Storage by 205.7% in the first quarter. JPMorgan Chase & Co. now owns 4,094,555 shares of the real estate investment trust’s stock worth $608,001,000 after purchasing an additional 2,755,265 shares during the period. Nuveen LLC acquired a new stake in Extra Space Storage in the first quarter worth $257,917,000. AQR Capital Management LLC raised its holdings in shares of Extra Space Storage by 570.3% during the first quarter. AQR Capital Management LLC now owns 1,124,206 shares of the real estate investment trust’s stock worth $166,180,000 after acquiring an additional 956,500 shares during the period. Resolution Capital Ltd lifted its position in Extra Space Storage by 259.1% in the 1st quarter. Resolution Capital Ltd now owns 902,157 shares of the real estate investment trust’s stock valued at $133,961,000 after acquiring an additional 650,957 shares in the last quarter. Finally, Invesco Ltd. boosted its stake in Extra Space Storage by 18.7% in the 1st quarter. Invesco Ltd. now owns 3,056,384 shares of the real estate investment trust’s stock worth $453,843,000 after purchasing an additional 480,642 shares during the period. 99.11% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of brokerages recently weighed in on EXR. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Extra Space Storage in a research note on Wednesday, October 8th. Citigroup reduced their target price on shares of Extra Space Storage from $165.00 to $150.00 and set a “neutral” rating for the company in a research note on Friday, August 22nd. Wall Street Zen raised shares of Extra Space Storage from a “sell” rating to a “hold” rating in a research note on Saturday, October 11th. Barclays reduced their target price on shares of Extra Space Storage from $178.00 to $169.00 and set an “overweight” rating for the company in a research note on Friday, August 8th. Finally, Scotiabank reduced their target price on shares of Extra Space Storage from $166.00 to $162.00 and set a “sector outperform” rating for the company in a research note on Thursday, August 28th. Six research analysts have rated the stock with a Buy rating, nine have issued a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and an average price target of $148.64.

Extra Space Storage Stock Performance

Shares of EXR opened at $149.36 on Tuesday. The firm has a 50-day moving average of $143.94 and a 200-day moving average of $145.19. Extra Space Storage Inc has a one year low of $121.03 and a one year high of $175.57. The company has a market cap of $31.70 billion, a PE ratio of 32.40, a price-to-earnings-growth ratio of 2.71 and a beta of 1.11. The company has a debt-to-equity ratio of 0.88, a current ratio of 0.29 and a quick ratio of 0.29.

Extra Space Storage (NYSE:EXR) last announced its quarterly earnings data on Wednesday, July 30th. The real estate investment trust reported $2.05 EPS 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 period last year, the business earned $2.06 EPS. The business’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, equities analysts forecast that Extra Space Storage Inc will post 8.1 earnings per share for the current year.

Extra Space Storage Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, September 30th. Investors of record on Monday, September 15th were issued a dividend of $1.62 per share. The ex-dividend date of this dividend was Monday, September 15th. This represents a $6.48 annualized dividend and a dividend yield of 4.3%. Extra Space Storage’s payout ratio is presently 140.56%.

Insider Activity at Extra Space Storage

In related news, CEO Joseph D. Margolis sold 7,500 shares of Extra Space Storage stock in a transaction dated 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 completion of the sale, the chief executive officer owned 19,760 shares of the company’s stock, valued at approximately $2,794,261.60. The trade was a 27.51% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Insiders own 1.36% of the company’s stock.

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.