Castellan Group Purchases 1,573 Shares of Extra Space Storage Inc $EXR

Castellan Group raised its position in shares of Extra Space Storage Inc (NYSE:EXR) by 8.0% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 21,156 shares of the real estate investment trust’s stock after purchasing an additional 1,573 shares during the period. Extra Space Storage accounts for approximately 0.6% of Castellan Group’s portfolio, making the stock its 16th largest holding. Castellan Group’s holdings in Extra Space Storage were worth $3,119,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of the company. GKV Capital Management Co. Inc. bought a new position in shares of Extra Space Storage in the first quarter worth $29,000. Chung Wu Investment Group LLC bought a new position in shares of Extra Space Storage in the second quarter worth $29,000. Zions Bancorporation National Association UT bought a new position in shares of Extra Space Storage in the first quarter worth $50,000. Golden State Wealth Management LLC boosted its holdings in shares of 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 period. Finally, Ameritas Advisory Services LLC bought a new position in shares of Extra Space Storage in the second quarter worth $75,000. 99.11% of the stock is owned by institutional investors.

Insider Transactions at Extra Space Storage

In related news, CEO Joseph D. Margolis sold 7,500 shares of the business’s stock in a transaction dated Wednesday, October 1st. The stock was sold at an average price of $141.41, for a total transaction of $1,060,575.00. Following the transaction, the chief executive officer owned 19,760 shares in the company, valued at $2,794,261.60. The trade was a 27.51% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 0.96% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

A number of equities analysts have recently commented on EXR shares. JPMorgan Chase & Co. raised their price target on Extra Space Storage from $160.00 to $162.00 and gave the stock a “neutral” rating in a report on Friday, June 13th. BNP Paribas raised Extra Space Storage to a “hold” rating in a research note on Tuesday, June 24th. Royal Bank Of Canada lowered their price target on Extra Space Storage from $160.00 to $148.00 and set a “sector perform” rating on the stock in a research report on Monday, August 4th. Evercore ISI raised their price target on Extra Space Storage from $147.00 to $149.00 and gave the company a “cautious” rating in a research report on Friday, October 3rd. Finally, Barclays decreased their price objective on Extra Space Storage from $178.00 to $169.00 and set an “overweight” rating on the stock in a report on Friday, August 8th. Six analysts have rated the stock with a Buy rating, nine have issued a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $148.64.

Extra Space Storage Stock Up 0.5%

Shares of NYSE:EXR opened at $143.13 on Friday. Extra Space Storage Inc has a 1 year low of $121.03 and a 1 year high of $175.57. The company has a market cap of $30.38 billion, a PE ratio of 31.05, a P/E/G ratio of 3.45 and a beta of 1.11. The company has a debt-to-equity ratio of 0.88, a current ratio of 0.29 and a quick ratio of 0.29. The stock’s 50-day moving average is $141.05 and its 200 day moving average is $144.36.

Extra Space Storage (NYSE:EXR) last announced its quarterly earnings results 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). Extra Space Storage had a net margin of 29.51% and a return on equity of 6.69%. The business had revenue of $841.62 million for the quarter, compared to analysts’ expectations of $719.43 million. During the same quarter in the prior year, the firm earned $2.06 EPS. The firm’s revenue for the quarter was up 3.8% on a year-over-year basis. Extra Space Storage has set its FY 2025 guidance at 8.050-8.25 EPS. Sell-side analysts anticipate that Extra Space Storage Inc will post 8.1 EPS for the current year.

Extra Space Storage Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, September 30th. Investors of record on Monday, September 15th were 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 was Monday, September 15th. Extra Space Storage’s payout ratio is currently 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.