Extra Space Storage Inc (NYSE:EXR) Shares Sold by Mizuho Securities USA LLC

Mizuho Securities USA LLC lowered its stake in shares of Extra Space Storage Inc (NYSE:EXR) by 15.5% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 16,974 shares of the real estate investment trust’s stock after selling 3,117 shares during the period. Mizuho Securities USA LLC’s holdings in Extra Space Storage were worth $2,520,000 as of its most recent SEC filing.

A number of other hedge funds have also recently added to or reduced their stakes in EXR. Federated Hermes Inc. boosted its stake in Extra Space Storage by 206.9% in the 4th quarter. Federated Hermes Inc. now owns 1,105 shares of the real estate investment trust’s stock worth $165,000 after buying an additional 745 shares during the last quarter. Cerity Partners LLC boosted its stake in Extra Space Storage by 8.1% in the 4th quarter. Cerity Partners LLC now owns 15,589 shares of the real estate investment trust’s stock worth $2,563,000 after buying an additional 1,163 shares during the last quarter. FIL Ltd boosted its stake in Extra Space Storage by 21.0% in the 4th quarter. FIL Ltd now owns 29,884 shares of the real estate investment trust’s stock worth $4,471,000 after buying an additional 5,187 shares during the last quarter. Raymond James Financial Inc. acquired a new stake in Extra Space Storage in the 4th quarter worth about $46,120,000. Finally, Capital Fund Management S.A. acquired a new stake in Extra Space Storage in the 4th quarter worth about $6,244,000. 99.11% of the stock is owned by institutional investors and hedge funds.

Extra Space Storage Stock Performance

Shares of NYSE:EXR opened at $136.40 on Monday. The company has a market cap of $28.95 billion, a P/E ratio of 29.59, a PEG ratio of 3.31 and a beta of 1.07. 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 Inc has a one year low of $121.03 and a one year high of $184.87. The business’s 50-day simple moving average is $147.69 and its 200 day simple moving average is $147.84.

Extra Space Storage (NYSE:EXR) last announced 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 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 business’s quarterly revenue was up 3.8% compared to the same quarter last year. During the same quarter in the previous year, the business posted $2.06 earnings per share. On average, sell-side analysts forecast that Extra Space Storage Inc will post 8.1 earnings per share for the current fiscal year.

Extra Space Storage Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, June 30th. Shareholders of record on Monday, June 16th were issued a dividend of $1.62 per share. The ex-dividend date was Monday, June 16th. This represents a $6.48 annualized dividend and a yield of 4.8%. Extra Space Storage’s payout ratio is currently 140.56%.

Insider Transactions at Extra Space Storage

In other Extra Space Storage news, CEO Joseph D. Margolis sold 7,500 shares of Extra Space Storage stock in a transaction that occurred on Tuesday, July 1st. The stock was sold at an average price of $150.35, for a total transaction of $1,127,625.00. Following the sale, the chief executive officer directly owned 27,260 shares in the company, valued at $4,098,541. The trade was a 21.58% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 1.36% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of brokerages have issued reports on EXR. Wells Fargo & Company decreased their price target on Extra Space Storage from $165.00 to $160.00 and set an “equal weight” rating on the stock in a research note on Wednesday, July 23rd. BNP Paribas raised Extra Space Storage to a “hold” rating in a research note on Tuesday, June 24th. Mizuho lifted their price objective on Extra Space Storage from $141.00 to $153.00 and gave the company an “outperform” rating in a research note on Wednesday, May 28th. Scotiabank lifted their price objective on Extra Space Storage from $149.00 to $166.00 and gave the company a “sector outperform” rating in a research note on Monday, May 12th. Finally, Wall Street Zen raised Extra Space Storage from a “sell” rating to a “hold” rating in a research note on Wednesday, April 30th. Nine analysts have rated the stock with a hold rating and seven have given a buy rating to the company. According to MarketBeat.com, Extra Space Storage currently has a consensus rating of “Hold” and an average target price of $155.85.

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.