Nordea Investment Management AB Increases Holdings in Extra Space Storage Inc $EXR

Nordea Investment Management AB lifted its holdings in shares of Extra Space Storage Inc (NYSE:EXR) by 5.6% in the second quarter, Holdings Channel.com reports. The fund owned 17,578 shares of the real estate investment trust’s stock after purchasing an additional 938 shares during the period. Nordea Investment Management AB’s holdings in Extra Space Storage were worth $2,562,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. FARMERS & MERCHANTS TRUST Co OF LONG BEACH lifted its holdings in Extra Space Storage by 4.6% in 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 buying an additional 80 shares during the period. Naviter Wealth LLC raised its position in shares of Extra Space Storage by 0.6% in the 1st 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 in the last quarter. Taylor Frigon Capital Management LLC lifted its stake in shares of Extra Space Storage by 0.8% in the 1st quarter. Taylor Frigon Capital Management LLC now owns 12,248 shares of the real estate investment trust’s stock valued at $1,819,000 after purchasing an additional 93 shares during the period. Farther Finance Advisors LLC boosted its position in shares of 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 valued at $230,000 after purchasing an additional 95 shares in the last quarter. Finally, Mather Group LLC. boosted its position in shares of 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 valued at $534,000 after purchasing an additional 105 shares in the last quarter. Hedge funds and other institutional investors own 99.11% of the company’s stock.

Analysts Set New Price Targets

Several research firms recently commented on EXR. 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 on the stock in a research note on Tuesday, August 26th. UBS Group dropped their price target on Extra Space Storage from $169.00 to $160.00 and set a “buy” rating on the stock in a research report on Tuesday, September 16th. Evercore ISI raised their price objective on Extra Space Storage from $147.00 to $149.00 and gave the company a “cautious” rating in a research report on Friday, October 3rd. Royal Bank Of Canada lowered their price objective on Extra Space Storage from $160.00 to $148.00 and set a “sector perform” rating for the company in a research note on Monday, August 4th. Finally, Scotiabank cut their target price on Extra Space Storage from $166.00 to $162.00 and set a “sector outperform” rating on the stock in a research note on Thursday, August 28th. Six equities research 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. According to data from MarketBeat, the company has a consensus rating of “Hold” and an average target price of $148.64.

Insider Buying and Selling

In other news, CEO Joseph D. Margolis sold 7,500 shares of the business’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 in the company, valued at $2,794,261.60. The trade was a 27.51% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.96% of the stock is currently owned by corporate insiders.

Extra Space Storage Price Performance

NYSE EXR opened at $152.20 on Thursday. 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 Inc has a 1-year low of $121.03 and a 1-year high of $175.57. The stock has a market capitalization of $32.30 billion, a price-to-earnings ratio of 33.01, a PEG ratio of 2.71 and a beta of 1.11. The business’s fifty day moving average price is $143.13 and its 200-day moving average price is $144.60.

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

Extra Space Storage Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, September 30th. Shareholders 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 dividend on an annualized basis and a yield of 4.3%. Extra Space Storage’s dividend payout ratio (DPR) is currently 140.56%.

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.