6,303 Shares in Extra Space Storage Inc $EXR Purchased by Lecap Asset Management Ltd.

Lecap Asset Management Ltd. purchased a new stake in shares of Extra Space Storage Inc (NYSE:EXR) during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor purchased 6,303 shares of the real estate investment trust’s stock, valued at approximately $929,000.

A number of other hedge funds have also recently added to or reduced their stakes in the business. GKV Capital Management Co. Inc. bought a new position in shares of Extra Space Storage in the 1st quarter worth about $29,000. Zions Bancorporation National Association UT acquired a new stake in Extra Space Storage during the first quarter worth about $50,000. Golden State Wealth Management LLC lifted its holdings 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 worth $60,000 after acquiring an additional 241 shares during the last quarter. Wayfinding Financial LLC acquired a new position in Extra Space Storage in the first quarter valued at approximately $76,000. Finally, Avalon Trust Co acquired a new position in Extra Space Storage in the first quarter valued at approximately $79,000. Institutional investors and hedge funds own 99.11% of the company’s stock.

Analyst Ratings Changes

A number of research analysts recently commented on EXR shares. Truist Financial lowered their price objective on Extra Space Storage from $158.00 to $150.00 and set a “hold” rating for the company in a research note on Tuesday, August 19th. BNP Paribas Exane started coverage on shares of Extra Space Storage in a report on Tuesday, June 24th. They set a “neutral” rating and a $156.00 price target for the company. Royal Bank Of Canada dropped their price objective on shares of Extra Space Storage from $160.00 to $148.00 and set a “sector perform” rating on the stock in a report on Monday, August 4th. Barclays cut their price objective on shares of Extra Space Storage from $178.00 to $169.00 and set an “overweight” rating on the stock in a research report on Friday, August 8th. Finally, UBS Group decreased their target price on shares of Extra Space Storage from $169.00 to $160.00 and set a “buy” rating for the company in a research report on Tuesday, September 16th. Six equities research analysts have rated the stock with a Buy rating and nine have given a Hold rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $148.50.

Extra Space Storage Price Performance

Shares of Extra Space Storage stock opened at $141.39 on Friday. Extra Space Storage Inc has a 52 week low of $121.03 and a 52 week high of $177.67. 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 stock has a market cap of $30.01 billion, a PE ratio of 30.67, a price-to-earnings-growth ratio of 3.42 and a beta of 1.11. The company’s 50-day moving average price is $141.50 and its two-hundred day moving average price is $144.48.

Extra Space Storage (NYSE:EXR) last posted its quarterly earnings results on Wednesday, July 30th. The real estate investment trust reported $2.05 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.06 by ($0.01). The business had revenue of $841.62 million during the quarter, compared to analyst estimates 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% compared to the same quarter last year. During the same quarter last 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 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 disclosed a quarterly dividend, which was paid on Tuesday, September 30th. Shareholders of record on Monday, September 15th were given a dividend of $1.62 per share. The ex-dividend date was Monday, September 15th. This represents a $6.48 dividend on an annualized basis and a yield of 4.6%. Extra Space Storage’s dividend payout ratio (DPR) is presently 140.56%.

About Extra Space Storage

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.