Elser Financial Planning Inc Invests $228,000 in Extra Space Storage Inc $EXR

Elser Financial Planning Inc purchased a new stake in Extra Space Storage Inc (NYSE:EXR) during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor purchased 1,543 shares of the real estate investment trust’s stock, valued at approximately $228,000.

Other hedge funds have also recently modified their holdings of the company. D.A. Davidson & CO. lifted its holdings in Extra Space Storage by 7.2% in the first quarter. D.A. Davidson & CO. now owns 1,895 shares of the real estate investment trust’s stock valued at $281,000 after acquiring an additional 127 shares during the period. Allspring Global Investments Holdings LLC increased its holdings in shares of Extra Space Storage by 1.8% during the 1st quarter. Allspring Global Investments Holdings LLC now owns 22,222 shares of the real estate investment trust’s stock valued at $3,285,000 after purchasing an additional 398 shares in the last quarter. QRG Capital Management Inc. lifted its stake in shares of Extra Space Storage by 21.4% in the 1st 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 grew its position 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 valued at $216,000 after buying an additional 286 shares during the period. Finally, IFP Advisors Inc increased its holdings in Extra Space Storage by 1,376.5% in the first quarter. IFP Advisors Inc now owns 1,698 shares of the real estate investment trust’s stock valued at $252,000 after buying an additional 1,583 shares in the last quarter. Hedge funds and other institutional investors own 99.11% of the company’s stock.

Extra Space Storage Stock Up 1.7%

Shares of NYSE EXR opened at $140.07 on Monday. 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 50-day moving average of $142.22 and a 200 day moving average of $144.59. Extra Space Storage Inc has a 12-month low of $121.03 and a 12-month high of $181.42. The stock has a market cap of $29.73 billion, a PE ratio of 30.38, a P/E/G ratio of 3.39 and a beta of 1.09.

Extra Space Storage (NYSE:EXR) last posted its quarterly 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). Extra Space Storage had a net margin of 29.51% and a return on equity of 6.69%. The company had revenue of $841.62 million during the quarter, compared to analyst estimates of $719.43 million. During the same period in the prior year, the business posted $2.06 EPS. Extra Space Storage’s revenue for the quarter 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. As a group, sell-side analysts predict that Extra Space Storage Inc will post 8.1 EPS for the current fiscal year.

Extra Space Storage Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 30th. Investors of record on Monday, September 15th will be issued a $1.62 dividend. This represents a $6.48 annualized dividend and a yield of 4.6%. The ex-dividend date is Monday, September 15th. Extra Space Storage’s payout ratio is 140.56%.

Wall Street Analyst Weigh In

Several research firms have recently issued reports on EXR. Citigroup lowered their target price 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. Wall Street Zen downgraded Extra Space Storage from a “hold” rating to a “sell” rating in a research report on Friday. Scotiabank cut their price objective on Extra Space Storage from $166.00 to $162.00 and set a “sector outperform” rating for the company in a research report on Thursday, August 28th. Wells Fargo & Company upgraded Extra Space Storage from an “equal weight” rating to an “overweight” rating and set a $160.00 target price on the stock in a research report on Tuesday, August 26th. Finally, Royal Bank Of Canada dropped their price target on shares of Extra Space Storage from $160.00 to $148.00 and set a “sector perform” rating on the stock in a research note on Monday, August 4th. Six investment analysts have rated the stock with a Buy rating and nine have issued a Hold rating to the company. According to MarketBeat, Extra Space Storage currently has a consensus rating of “Hold” and an average price target of $148.50.

Insider Buying and Selling

In other Extra Space Storage news, CEO Joseph D. Margolis sold 7,500 shares of the stock in a transaction dated 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 transaction, the chief executive officer owned 27,260 shares of the company’s stock, valued at $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 through the SEC website. 1.36% of the stock is owned by 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.