Extra Space Storage Inc $EXR Shares Sold by Praxis Investment Management Inc.

Praxis Investment Management Inc. trimmed its position in shares of Extra Space Storage Inc (NYSE:EXR) by 15.3% in the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 2,380 shares of the real estate investment trust’s stock after selling 430 shares during the period. Praxis Investment Management Inc.’s holdings in Extra Space Storage were worth $351,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. D.A. Davidson & CO. boosted its stake in Extra Space Storage by 7.2% during the 1st quarter. D.A. Davidson & CO. now owns 1,895 shares of the real estate investment trust’s stock valued at $281,000 after purchasing an additional 127 shares during the period. Allspring Global Investments Holdings LLC boosted its stake in 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 during the period. 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 worth $399,000 after acquiring an additional 474 shares during the period. IFP Advisors Inc lifted its stake in shares of Extra Space Storage by 1,376.5% in the 1st quarter. IFP Advisors Inc now owns 1,698 shares of the real estate investment trust’s stock worth $252,000 after acquiring an additional 1,583 shares during the period. Finally, Wealth Enhancement Advisory Services LLC lifted its stake in shares of 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 acquiring an additional 6,964 shares during the period. 99.11% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In other news, CEO Joseph D. Margolis sold 7,500 shares of the business’s stock in a transaction that occurred on Wednesday, October 1st. The shares were sold at an average price of $141.41, for a total transaction of $1,060,575.00. Following the sale, 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 ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.96% of the stock is owned by corporate insiders.

Extra Space Storage Stock Down 0.2%

NYSE EXR opened at $151.66 on Friday. 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 company’s 50 day simple moving average is $142.23 and its 200 day simple moving average is $144.41. Extra Space Storage Inc has a 12 month low of $121.03 and a 12 month high of $175.57. The company has a market capitalization of $32.19 billion, a P/E ratio of 32.90, a PEG ratio of 2.73 and a beta of 1.11.

Extra Space Storage (NYSE:EXR) last released its 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). Extra Space Storage had a return on equity of 6.69% and a net margin of 29.51%.The business had revenue of $841.62 million during the quarter, compared to the consensus estimate of $719.43 million. During the same quarter in the previous year, the firm earned $2.06 earnings per share. The firm’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. Equities research analysts expect that Extra Space Storage Inc will post 8.1 earnings per share for the current fiscal year.

Extra Space Storage Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, September 30th. Stockholders of record on Monday, September 15th were issued 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 dividend yield of 4.3%. Extra Space Storage’s payout ratio is currently 140.56%.

Analyst Ratings Changes

A number of brokerages have recently weighed in on EXR. Wells Fargo & Company raised shares of Extra Space Storage from an “equal weight” rating to an “overweight” rating and set a $160.00 price target for the company in a research note on Tuesday, August 26th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Extra Space Storage in a research note on Wednesday, October 8th. Evercore ISI upped their price target on shares of Extra Space Storage from $147.00 to $149.00 and gave the stock a “cautious” rating in a research note on Friday, October 3rd. BNP Paribas Exane began coverage on shares of Extra Space Storage in a research note on Tuesday, June 24th. They issued a “neutral” rating and a $156.00 price target for the company. Finally, BNP Paribas raised shares of Extra Space Storage to a “hold” rating in a research note on Tuesday, June 24th. Six investment analysts have rated the stock with a Buy rating, nine have assigned a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $148.64.

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.