Cascade Investment Group Inc. Sells 347 Shares of Extra Space Storage Inc $EXR

Cascade Investment Group Inc. trimmed its position in Extra Space Storage Inc (NYSE:EXR) by 4.3% in the first quarter, HoldingsChannel reports. The firm owned 7,697 shares of the real estate investment trust’s stock after selling 347 shares during the quarter. Cascade Investment Group Inc.’s holdings in Extra Space Storage were worth $1,143,000 as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. GKV Capital Management Co. Inc. bought a new stake in Extra Space Storage in the 1st quarter worth about $29,000. Zions Bancorporation National Association UT purchased a new position in Extra Space Storage in the first quarter valued at about $50,000. Quarry LP boosted its stake in Extra Space Storage by 156.1% in the fourth quarter. Quarry LP now owns 356 shares of the real estate investment trust’s stock valued at $53,000 after acquiring an additional 217 shares during the last quarter. Golden State Wealth Management LLC boosted its stake in Extra Space Storage by 147.0% in the first quarter. Golden State Wealth Management LLC now owns 405 shares of the real estate investment trust’s stock valued at $60,000 after acquiring an additional 241 shares during the last quarter. Finally, Parvin Asset Management LLC purchased a new position in Extra Space Storage in the fourth quarter valued at about $62,000. 99.11% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of equities analysts have weighed in on EXR shares. Barclays cut their target price on shares of 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. Truist Financial lowered their price target on shares of Extra Space Storage from $158.00 to $150.00 and set a “hold” rating on the stock in a research report on Tuesday, August 19th. Scotiabank boosted their price target on shares of Extra Space Storage from $149.00 to $166.00 and gave the company a “sector outperform” rating in a research report on Monday, May 12th. Wells Fargo & Company raised shares of Extra Space Storage from an “equal weight” rating to an “overweight” rating and set a $160.00 price target on the stock in a research report on Tuesday. Finally, Mizuho boosted their price target on shares of Extra Space Storage from $141.00 to $153.00 and gave the company an “outperform” rating in a research report on Wednesday, May 28th. Seven equities research analysts have rated the stock with a Buy rating and nine have given a Hold rating to the company’s stock. According to MarketBeat, the company has an average rating of “Hold” and a consensus price target of $153.60.

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 shares were sold at an average price of $150.35, for a total transaction of $1,127,625.00. Following the completion of 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 ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. 1.36% of the stock is currently owned by insiders.

Extra Space Storage Price Performance

Shares of NYSE:EXR opened at $140.62 on Wednesday. The company has a 50 day moving average of $144.89 and a 200 day moving average of $146.57. The stock has a market cap of $29.85 billion, a P/E ratio of 30.50, a P/E/G ratio of 3.40 and a beta of 1.07. Extra Space Storage Inc has a 12 month low of $121.03 and a 12 month high of $184.87. The company has a current ratio of 0.29, a quick ratio of 0.29 and a debt-to-equity ratio of 0.88.

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 the consensus estimate of $2.06 by ($0.01). The firm 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%. Extra Space Storage’s revenue was up 3.8% on a year-over-year basis. During the same period in the prior year, the firm posted $2.06 EPS. Extra Space Storage has set its FY 2025 guidance at 8.050-8.25 EPS. As a group, sell-side analysts forecast that Extra Space Storage Inc will post 8.1 EPS for the current fiscal year.

Extra Space Storage Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, September 30th. Shareholders of record on Monday, September 15th will be given a dividend of $1.62 per share. The ex-dividend date is Monday, September 15th. This represents a $6.48 annualized dividend and a yield of 4.6%. Extra Space Storage’s payout ratio is presently 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.