Wealthfront Advisers LLC Buys 2,355 Shares of Extra Space Storage Inc $EXR

Wealthfront Advisers LLC lifted its stake in Extra Space Storage Inc (NYSE:EXR) by 5.0% in the 2nd quarter, Holdings Channel.com reports. The firm owned 49,683 shares of the real estate investment trust’s stock after buying an additional 2,355 shares during the quarter. Wealthfront Advisers LLC’s holdings in Extra Space Storage were worth $7,325,000 as of its most recent SEC filing.

Several other institutional investors also recently bought and sold shares of the company. Janney Montgomery Scott LLC raised its holdings in Extra Space Storage by 3.8% in the 1st quarter. Janney Montgomery Scott LLC now owns 5,952 shares of the real estate investment trust’s stock worth $884,000 after acquiring an additional 219 shares during the last quarter. Golden State Wealth Management LLC increased its holdings in shares of 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 worth $60,000 after purchasing an additional 241 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. raised its stake in shares of Extra Space Storage by 9.4% in the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 37,843 shares of the real estate investment trust’s stock worth $5,505,000 after purchasing an additional 3,260 shares during the last quarter. Allspring Global Investments Holdings LLC lifted its holdings in shares of Extra Space Storage by 1.8% during the first quarter. Allspring Global Investments Holdings LLC now owns 22,222 shares of the real estate investment trust’s stock valued at $3,285,000 after purchasing an additional 398 shares in the last quarter. Finally, Amalgamated Bank boosted its position in shares of Extra Space Storage by 1.1% during the first quarter. Amalgamated Bank now owns 40,967 shares of the real estate investment trust’s stock valued at $6,083,000 after buying an additional 432 shares during the last quarter. 99.11% of the stock is owned by hedge funds and other institutional investors.

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 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 transaction, the chief executive officer owned 19,760 shares in the company, valued at approximately $2,794,261.60. The trade was a 27.51% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 1.36% of the stock is owned by insiders.

Extra Space Storage Stock Performance

NYSE:EXR opened at $149.36 on Tuesday. The company has a debt-to-equity ratio of 0.88, a quick ratio of 0.29 and a current ratio of 0.29. The stock has a 50-day simple moving average of $143.94 and a two-hundred day simple moving average of $145.19. The firm has a market capitalization of $31.70 billion, a PE ratio of 32.40, a P/E/G ratio of 2.71 and a beta of 1.11. Extra Space Storage Inc has a 52-week low of $121.03 and a 52-week high of $175.57.

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 for the quarter, missing analysts’ consensus estimates of $2.06 by ($0.01). The company had revenue of $841.62 million for the quarter, compared to analysts’ expectations of $719.43 million. Extra Space Storage had a net margin of 29.51% and a return on equity of 6.69%. The firm’s quarterly revenue was up 3.8% on a year-over-year basis. During the same period in the previous year, the firm earned $2.06 earnings per share. Extra Space Storage has set its FY 2025 guidance at 8.050-8.25 EPS. Analysts forecast that Extra Space Storage Inc will post 8.1 EPS for the current year.

Extra Space Storage Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, September 30th. Stockholders of record on Monday, September 15th were paid a $1.62 dividend. The ex-dividend date of this dividend was Monday, September 15th. This represents a $6.48 dividend on an annualized basis and a dividend yield of 4.3%. Extra Space Storage’s dividend payout ratio is 140.56%.

Wall Street Analysts Forecast Growth

A number of brokerages have weighed in on EXR. Barclays decreased their target price on Extra Space Storage from $178.00 to $169.00 and set an “overweight” rating for the company in a research 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, August 26th. UBS Group dropped 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. Evercore ISI lifted their target price on shares of Extra Space Storage from $147.00 to $149.00 and gave the stock a “cautious” rating in a research report on Friday, October 3rd. Finally, Scotiabank lowered their price target on 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 issued a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $148.64.

About Extra Space Storage

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.