Argent Capital Management LLC Has $18.46 Million Stake in Extra Space Storage Inc $EXR

Argent Capital Management LLC increased its stake in shares of Extra Space Storage Inc (NYSE:EXR) by 2.8% during the second quarter, HoldingsChannel reports. The fund owned 125,205 shares of the real estate investment trust’s stock after buying an additional 3,435 shares during the period. Argent Capital Management LLC’s holdings in Extra Space Storage were worth $18,460,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also made changes to their positions in the stock. GAMMA Investing LLC raised its holdings in shares of Extra Space Storage by 10.3% during the second quarter. GAMMA Investing LLC now owns 3,204 shares of the real estate investment trust’s stock worth $472,000 after acquiring an additional 298 shares during the period. Avanza Fonder AB acquired a new stake in shares of Extra Space Storage during the second quarter worth $2,317,000. Matrix Trust Co raised its holdings in shares of Extra Space Storage by 4.8% during the second quarter. Matrix Trust Co now owns 10,789 shares of the real estate investment trust’s stock worth $1,591,000 after acquiring an additional 490 shares during the period. Kaufman Rossin Wealth LLC acquired a new stake in Extra Space Storage in the 2nd quarter valued at $225,000. Finally, 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. 99.11% of the stock is currently owned by institutional investors and hedge funds.

Extra Space Storage Stock Performance

Shares of EXR stock opened at $138.88 on Tuesday. The company has a market capitalization of $29.48 billion, a price-to-earnings ratio of 30.13, a PEG ratio of 3.38 and a beta of 1.09. 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 simple moving average of $142.99 and a 200 day simple moving average of $144.92. Extra Space Storage Inc has a 52 week low of $121.03 and a 52 week high of $183.22.

Extra Space Storage (NYSE:EXR) last posted its quarterly earnings data on Wednesday, July 30th. The real estate investment trust reported $2.05 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.06 by ($0.01). The business had revenue of $841.62 million during the quarter, compared to the consensus estimate 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 revenue for the quarter was up 3.8% on a year-over-year basis. During the same period in the prior year, the firm earned $2.06 EPS. Extra Space Storage has set its FY 2025 guidance at 8.050-8.25 EPS. On average, sell-side analysts predict that Extra Space Storage Inc will post 8.1 earnings per share for the current year.

Extra Space Storage Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 30th. Shareholders of record on Monday, September 15th will be issued a $1.62 dividend. The ex-dividend date of this dividend is Monday, September 15th. This represents a $6.48 dividend on an annualized basis and a yield of 4.7%. Extra Space Storage’s payout ratio is currently 140.56%.

Analyst Upgrades and Downgrades

EXR has been the topic of several recent research reports. BNP Paribas upgraded shares of Extra Space Storage to a “hold” rating in a research note on Tuesday, June 24th. Wells Fargo & Company upgraded 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 note on Tuesday, August 26th. Citigroup lowered their price target on shares of Extra Space Storage from $165.00 to $150.00 and set a “neutral” rating on the stock in a research note on Friday, August 22nd. Mizuho lifted 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 note on Wednesday, May 28th. Finally, 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 note on Tuesday, August 19th. Six investment analysts have rated the stock with a Buy rating and nine have given a Hold rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $148.50.

Insider Transactions at Extra Space Storage

In other Extra Space Storage news, CEO Joseph D. Margolis sold 7,500 shares of the business’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 completion of the sale, the chief executive officer owned 27,260 shares of the company’s stock, 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 SEC, which is available at the SEC website. 1.36% of the stock is owned by corporate insiders.

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.