Maryland State Retirement & Pension System Purchases 463 Shares of Extra Space Storage Inc $EXR

Maryland State Retirement & Pension System boosted its position in Extra Space Storage Inc (NYSE:EXR) by 4.7% in the second quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 10,239 shares of the real estate investment trust’s stock after purchasing an additional 463 shares during the quarter. Maryland State Retirement & Pension System’s holdings in Extra Space Storage were worth $1,510,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently modified their holdings of EXR. Farther Finance Advisors LLC boosted its stake in Extra Space Storage by 24.3% in 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 acquiring an additional 286 shares in the last quarter. CX Institutional acquired a new stake in Extra Space Storage in the 1st quarter worth approximately $127,000. Fifth Third Bancorp boosted its stake in Extra Space Storage by 25.4% in the 1st quarter. Fifth Third Bancorp now owns 11,835 shares of the real estate investment trust’s stock worth $1,757,000 after purchasing an additional 2,397 shares in the last quarter. Azzad Asset Management Inc. ADV boosted its stake in Extra Space Storage by 3.4% in the 1st quarter. Azzad Asset Management Inc. ADV now owns 11,391 shares of the real estate investment trust’s stock worth $1,691,000 after purchasing an additional 375 shares in the last quarter. Finally, Wealth Enhancement Advisory Services LLC boosted its stake in Extra Space Storage by 44.6% in the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 22,593 shares of the real estate investment trust’s stock worth $3,355,000 after purchasing an additional 6,964 shares in the last quarter. Hedge funds and other institutional investors own 99.11% of the company’s stock.

Extra Space Storage Stock Down 0.8%

Shares of EXR opened at $141.98 on Friday. The company has a current ratio of 0.29, a quick ratio of 0.29 and a debt-to-equity ratio of 0.88. Extra Space Storage Inc has a 12 month low of $121.03 and a 12 month high of $175.57. The stock’s 50 day moving average is $141.10 and its two-hundred day moving average is $144.34. The firm has a market cap of $30.14 billion, a P/E ratio of 30.80, a PEG ratio of 3.44 and a beta of 1.11.

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 for the quarter, missing analysts’ consensus estimates of $2.06 by ($0.01). Extra Space Storage had a return on equity of 6.69% and a net margin of 29.51%.The company had revenue of $841.62 million for the quarter, compared to analyst estimates of $719.43 million. During the same quarter in the prior year, the company posted $2.06 earnings per share. The business’s revenue 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. Analysts predict that Extra Space Storage Inc will post 8.1 earnings per share for the current fiscal year.

Extra Space Storage Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, September 30th. Shareholders of record on Monday, September 15th were paid a dividend of $1.62 per share. This represents a $6.48 annualized dividend and a yield of 4.6%. The ex-dividend date of this dividend was Monday, September 15th. Extra Space Storage’s payout ratio is 140.56%.

Analysts Set New Price Targets

A number of research analysts have issued reports on the stock. The Goldman Sachs Group reaffirmed a “neutral” rating and issued a $146.00 price target (down previously from $169.00) on shares of Extra Space Storage in a report on Thursday, August 21st. Wall Street Zen upgraded Extra Space Storage from a “sell” rating to a “hold” rating in a research note on Saturday. Citigroup decreased their target price on Extra Space Storage from $165.00 to $150.00 and set a “neutral” rating for the company in a report on Friday, August 22nd. Truist Financial cut their price objective 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. Finally, BNP Paribas raised shares of Extra Space Storage to a “hold” rating in a report on Tuesday, June 24th. 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 stock. According to data from MarketBeat, Extra Space Storage has a consensus rating of “Hold” and a consensus target price of $148.64.

Insider Transactions at Extra Space Storage

In other news, CEO Joseph D. Margolis sold 7,500 shares of the firm’s stock in a transaction dated Wednesday, October 1st. The shares were sold at an average price of $141.41, for a total value of $1,060,575.00. Following the transaction, the chief executive officer directly owned 19,760 shares of the company’s stock, valued at approximately $2,794,261.60. This trade represents a 27.51% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. 0.96% of the stock is currently owned by company insiders.

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.