Turtle Creek Wealth Advisors LLC Takes Position in Extra Space Storage Inc $EXR

Turtle Creek Wealth Advisors LLC bought 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 (SEC). The fund bought 1,480 shares of the real estate investment trust’s stock, valued at approximately $218,000.

Other hedge funds have also recently made changes to their positions in the company. GKV Capital Management Co. Inc. purchased a new position in shares of Extra Space Storage during the first quarter valued at approximately $29,000. Chung Wu Investment Group LLC purchased a new stake in Extra Space Storage in the second quarter worth $29,000. Zions Bancorporation National Association UT purchased a new stake in Extra Space Storage in the first quarter worth $50,000. Golden State Wealth Management LLC grew its stake 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 purchasing an additional 241 shares during the period. Finally, Ameritas Advisory Services LLC purchased a new stake in Extra Space Storage in the second quarter worth $75,000. 99.11% of the stock is owned by hedge funds and other institutional investors.

Extra Space Storage Stock Performance

Shares of EXR opened at $151.66 on Friday. The company has a quick ratio of 0.29, a current ratio of 0.29 and a debt-to-equity ratio of 0.88. The business has a 50-day simple moving average of $142.23 and a two-hundred day simple moving average of $144.44. The stock has a market cap of $32.19 billion, a price-to-earnings ratio of 32.90, a PEG ratio of 2.74 and a beta of 1.11. Extra Space Storage Inc has a 52 week low of $121.03 and a 52 week high of $175.57.

Extra Space Storage (NYSE:EXR) last issued its quarterly earnings results on Wednesday, July 30th. The real estate investment trust reported $2.05 EPS for the quarter, missing analysts’ consensus estimates of $2.06 by ($0.01). The company had revenue of $841.62 million during the quarter, compared to analysts’ expectations of $719.43 million. Extra Space Storage had a return on equity of 6.69% and a net margin of 29.51%.The business’s quarterly revenue was up 3.8% compared to the same quarter last year. During the same quarter in the previous year, the company earned $2.06 EPS. Extra Space Storage has set its FY 2025 guidance at 8.050-8.25 EPS. On average, analysts expect that Extra Space Storage Inc will post 8.1 EPS for the current year.

Extra Space Storage Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, September 30th. Investors 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 annualized dividend and a dividend yield of 4.3%. Extra Space Storage’s dividend payout ratio (DPR) is currently 140.56%.

Insider Activity

In related news, CEO Joseph D. Margolis sold 7,500 shares of the 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 completion of the sale, the chief executive officer owned 19,760 shares in the company, 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 document filed with the SEC, which can be accessed through this hyperlink. Corporate insiders own 0.96% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts recently weighed in on EXR shares. Truist Financial reduced their price target on 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. 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 report on Monday, August 4th. Evercore ISI upped their price objective 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. Wall Street Zen upgraded Extra Space Storage from a “sell” rating to a “hold” rating in a research report on Saturday, October 11th. Finally, Citigroup reduced their price objective on Extra Space Storage from $165.00 to $150.00 and set a “neutral” rating for the company in a research report on Friday, August 22nd. Six equities research analysts have rated the stock with a Buy rating, nine have given a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, Extra Space Storage has a consensus rating of “Hold” and a consensus target price of $148.64.

Extra Space Storage Company 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.