GKV Capital Management Co. Inc. Makes New $29,000 Investment in Extra Space Storage Inc $EXR

GKV Capital Management Co. Inc. bought a new position in Extra Space Storage Inc (NYSE:EXR) in the 1st quarter, HoldingsChannel reports. The fund bought 196 shares of the real estate investment trust’s stock, valued at approximately $29,000.

Several other institutional investors and hedge funds have also recently bought and sold shares of EXR. Integrated Wealth Concepts LLC bought a new position in Extra Space Storage in the 4th quarter worth about $215,000. Quarry LP boosted its holdings in shares of 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 in the last quarter. Lido Advisors LLC boosted its holdings in shares of Extra Space Storage by 112.8% in the fourth quarter. Lido Advisors LLC now owns 8,924 shares of the real estate investment trust’s stock valued at $1,335,000 after acquiring an additional 4,731 shares in the last quarter. AQR Capital Management LLC boosted its holdings in shares of Extra Space Storage by 302.3% in the fourth quarter. AQR Capital Management LLC now owns 167,706 shares of the real estate investment trust’s stock valued at $24,817,000 after acquiring an additional 126,018 shares in the last quarter. Finally, Mercer Global Advisors Inc. ADV boosted its holdings in shares of Extra Space Storage by 556.1% in the fourth quarter. Mercer Global Advisors Inc. ADV now owns 23,686 shares of the real estate investment trust’s stock valued at $3,543,000 after acquiring an additional 20,076 shares in the last quarter. Institutional investors own 99.11% of the company’s stock.

Insiders Place Their Bets

In related news, CEO Joseph D. Margolis sold 7,500 shares of the firm’s 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 approximately $4,098,541. This trade represents a 21.58% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Insiders own 0.96% of the company’s stock.

Extra Space Storage Trading Up 1.0%

Shares of NYSE:EXR opened at $143.73 on Friday. The stock has a market capitalization of $30.51 billion, a price-to-earnings ratio of 31.18, a PEG ratio of 3.45 and a beta of 1.07. Extra Space Storage Inc has a 1-year low of $121.03 and a 1-year high of $184.87. 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 company has a 50 day moving average price of $144.67 and a 200 day moving average price of $146.34.

Extra Space Storage (NYSE:EXR) last issued its earnings results 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 business had revenue of $841.62 million for the quarter, compared to the consensus estimate of $719.43 million. Extra Space Storage had a return on equity of 6.69% and a net margin of 29.51%.The company’s quarterly revenue was up 3.8% on a year-over-year basis. During the same quarter in the previous year, the business posted $2.06 earnings per share. Extra Space Storage has set its FY 2025 guidance at 8.050-8.25 EPS. On average, research analysts anticipate that Extra Space Storage Inc will post 8.1 EPS for the current fiscal year.

Extra Space Storage Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, September 30th. Investors of record on Monday, September 15th will be issued a dividend of $1.62 per share. This represents a $6.48 dividend on an annualized basis and a yield of 4.5%. The ex-dividend date is Monday, September 15th. Extra Space Storage’s dividend payout ratio (DPR) is presently 140.56%.

Wall Street Analysts Forecast Growth

Several research analysts have recently issued reports on the stock. BNP Paribas upgraded shares of Extra Space Storage to a “hold” rating in a report on Tuesday, June 24th. Evercore ISI decreased their price objective on shares of Extra Space Storage from $148.00 to $146.00 and set an “in-line” rating for the company in a report on Monday, August 4th. Truist Financial decreased 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 report on Tuesday, August 19th. 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 report on Monday, August 4th. Finally, Mizuho increased their price objective on shares of Extra Space Storage from $141.00 to $153.00 and gave the company an “outperform” rating in a 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 data from MarketBeat.com, Extra Space Storage presently has a consensus rating of “Hold” and a consensus price target of $153.33.

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.