Hsbc Holdings PLC Raises Position in Extra Space Storage Inc $EXR

Hsbc Holdings PLC increased its holdings in Extra Space Storage Inc (NYSE:EXR) by 1.0% in the first quarter, Holdings Channel.com reports. The firm owned 663,885 shares of the real estate investment trust’s stock after purchasing an additional 6,652 shares during the period. Hsbc Holdings PLC’s holdings in Extra Space Storage were worth $98,432,000 at the end of the most recent quarter.

Other institutional investors have also recently added to or reduced their stakes in the company. D.A. Davidson & CO. boosted its stake in Extra Space Storage by 7.2% in the 1st quarter. D.A. Davidson & CO. now owns 1,895 shares of the real estate investment trust’s stock worth $281,000 after buying an additional 127 shares during the last quarter. Allspring Global Investments Holdings LLC boosted its position in shares of Extra Space Storage by 1.8% in the first quarter. Allspring Global Investments Holdings LLC now owns 22,222 shares of the real estate investment trust’s stock worth $3,285,000 after acquiring an additional 398 shares during the last quarter. QRG Capital Management Inc. grew its holdings in Extra Space Storage by 21.4% in the first quarter. QRG Capital Management Inc. now owns 2,684 shares of the real estate investment trust’s stock valued at $399,000 after purchasing an additional 474 shares during the period. Farther Finance Advisors LLC raised its stake in Extra Space Storage by 24.3% during the first quarter. Farther Finance Advisors LLC now owns 1,464 shares of the real estate investment trust’s stock worth $216,000 after purchasing an additional 286 shares during the period. Finally, IFP Advisors Inc raised its stake in Extra Space Storage by 1,376.5% during the first quarter. IFP Advisors Inc now owns 1,698 shares of the real estate investment trust’s stock worth $252,000 after purchasing an additional 1,583 shares during the period. 99.11% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other news, CEO Joseph D. Margolis sold 7,500 shares of the company’s stock in a transaction dated Tuesday, July 1st. The shares were sold at an average price of $150.35, for a total value of $1,127,625.00. Following the sale, the chief executive officer owned 27,260 shares in the company, valued at approximately $4,098,541. This represents a 21.58% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Company insiders own 0.96% of the company’s stock.

Extra Space Storage Price Performance

EXR opened at $139.7040 on Thursday. Extra Space Storage Inc has a twelve month low of $121.03 and a twelve month high of $184.87. The firm has a market cap of $29.65 billion, a price-to-earnings ratio of 30.30, a PEG ratio of 3.38 and a beta of 1.07. The company has a current ratio of 0.29, a quick ratio of 0.29 and a debt-to-equity ratio of 0.88. The company has a fifty day simple moving average of $145.57 and a 200 day simple moving average of $147.00.

Extra Space Storage (NYSE:EXR) last issued 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 return on equity of 6.69% and a net margin of 29.51%.The firm had revenue of $841.62 million during the quarter, compared to analyst estimates of $719.43 million. During the same quarter in the prior year, the firm earned $2.06 EPS. The business’s quarterly revenue was up 3.8% compared to the same quarter last year. Extra Space Storage has set its FY 2025 guidance at 8.050-8.25 EPS. Equities research analysts expect that Extra Space Storage Inc will post 8.1 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several brokerages have recently issued reports on EXR. Truist Financial lowered their price objective on shares of Extra Space Storage from $158.00 to $150.00 and set a “hold” rating for the company in a research note on Tuesday. Evercore ISI reduced their price target on shares of Extra Space Storage from $148.00 to $146.00 and set an “in-line” rating on the stock in a research report on Monday, August 4th. Royal Bank Of Canada decreased their price objective on shares of 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. BNP Paribas raised shares of Extra Space Storage to a “hold” rating in a research note on Tuesday, June 24th. Finally, Wall Street Zen lowered shares of Extra Space Storage from a “hold” rating to a “sell” rating in a report on Saturday, August 16th. Seven investment analysts have rated the stock with a Buy rating and eight have issued a Hold rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $154.46.

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.