Westpac Banking Corp Has $6.06 Million Stock Holdings in Extra Space Storage Inc $EXR

Westpac Banking Corp decreased its position in Extra Space Storage Inc (NYSE:EXR) by 4.8% during the 2nd quarter, according to its most recent filing with the SEC. The institutional investor owned 41,065 shares of the real estate investment trust’s stock after selling 2,056 shares during the period. Westpac Banking Corp’s holdings in Extra Space Storage were worth $6,055,000 as of its most recent filing with the SEC.

Several other hedge funds also recently made changes to their positions in EXR. FARMERS & MERCHANTS TRUST Co OF LONG BEACH raised its holdings in shares of 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 valued at $269,000 after purchasing an additional 80 shares during the last quarter. Farther Finance Advisors LLC increased its stake in Extra Space Storage by 6.5% in the 2nd quarter. Farther Finance Advisors LLC now owns 1,559 shares of the real estate investment trust’s stock valued at $230,000 after buying an additional 95 shares during the last quarter. Blair William & Co. IL increased its stake in Extra Space Storage by 4.1% in the 1st quarter. Blair William & Co. IL now owns 2,693 shares of the real estate investment trust’s stock valued at $400,000 after buying an additional 105 shares during the last quarter. Benjamin Edwards Inc. lifted its position in Extra Space Storage by 2.5% during the 1st quarter. Benjamin Edwards Inc. now owns 4,759 shares of the real estate investment trust’s stock worth $707,000 after buying an additional 118 shares in the last quarter. Finally, Moody Lynn & Lieberson LLC boosted its stake in shares of Extra Space Storage by 0.4% during the 2nd quarter. Moody Lynn & Lieberson LLC now owns 28,289 shares of the real estate investment trust’s stock worth $4,171,000 after buying an additional 119 shares during the last quarter. 99.11% of the stock is owned by institutional investors.

Extra Space Storage Stock Up 0.7%

EXR opened at $132.89 on Friday. The stock has a fifty day moving average of $141.77 and a 200-day moving average of $144.70. The company has a market capitalization of $28.21 billion, a P/E ratio of 29.66, a P/E/G ratio of 2.56 and a beta of 1.14. Extra Space Storage Inc has a fifty-two week low of $121.03 and a fifty-two week high of $175.57. The company has a debt-to-equity ratio of 0.88, a quick ratio of 0.29 and a current ratio of 0.29.

Extra Space Storage (NYSE:EXR) last released its quarterly earnings results on Wednesday, October 29th. The real estate investment trust reported $2.08 EPS for the quarter, topping analysts’ consensus estimates of $2.06 by $0.02. Extra Space Storage had a net margin of 28.40% and a return on equity of 6.53%. The business had revenue of $858.46 million for the quarter, compared to analyst estimates of $736.26 million. During the same period last year, the firm earned $2.07 earnings per share. Extra Space Storage’s revenue for the quarter was up 4.1% compared to the same quarter last year. Extra Space Storage has set its FY 2025 guidance at 8.120-8.20 EPS. On average, equities analysts expect that Extra Space Storage Inc will post 8.1 EPS for the current year.

Extra Space Storage Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, September 30th. Investors of record on Monday, September 15th were paid a $1.62 dividend. This represents a $6.48 annualized dividend and a dividend yield of 4.9%. The ex-dividend date was Monday, September 15th. Extra Space Storage’s payout ratio is 144.64%.

Insider Transactions at Extra Space Storage

In other news, CEO Joseph D. Margolis sold 7,500 shares of the company’s stock in a transaction on Wednesday, October 1st. The stock was 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 directly owned 19,760 shares in the company, valued at approximately $2,794,261.60. This represents a 27.51% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 0.96% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

A number of research firms recently issued reports on EXR. Wells Fargo & Company raised Extra Space Storage from an “equal weight” rating to an “overweight” rating and set a $160.00 target price on the stock in a research report on Tuesday, August 26th. Weiss Ratings reiterated a “hold (c)” rating on shares of Extra Space Storage in a research note on Wednesday, October 8th. Wall Street Zen cut shares of Extra Space Storage from a “hold” rating to a “sell” rating in a research note on Saturday, November 1st. Scotiabank lowered 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. Finally, Citigroup cut their price target 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. Six research analysts have rated the stock with a Buy rating and ten have assigned a Hold rating to the stock. According to data from MarketBeat, the company has an average rating of “Hold” and an average target price of $148.36.

Extra Space Storage 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.