Peterson Wealth Services Invests $524,000 in Extra Space Storage Inc $EXR

Peterson Wealth Services bought a new stake in shares of Extra Space Storage Inc (NYSE:EXR) in the 2nd quarter, HoldingsChannel reports. The firm bought 3,554 shares of the real estate investment trust’s stock, valued at approximately $524,000.

Other large investors have also recently added to or reduced their stakes in the company. JPMorgan Chase & Co. lifted its position in shares of Extra Space Storage by 205.7% during the 1st quarter. JPMorgan Chase & Co. now owns 4,094,555 shares of the real estate investment trust’s stock valued at $608,001,000 after acquiring an additional 2,755,265 shares during the last quarter. Nuveen LLC acquired a new position in shares of Extra Space Storage in the 1st quarter worth $257,917,000. AQR Capital Management LLC raised its position in shares of Extra Space Storage by 570.3% during the first quarter. AQR Capital Management LLC now owns 1,124,206 shares of the real estate investment trust’s stock worth $166,180,000 after purchasing an additional 956,500 shares during the period. Resolution Capital Ltd lifted its holdings in shares of Extra Space Storage by 259.1% during the first quarter. Resolution Capital Ltd now owns 902,157 shares of the real estate investment trust’s stock valued at $133,961,000 after purchasing an additional 650,957 shares during the last quarter. Finally, Invesco Ltd. boosted its position in shares of Extra Space Storage by 18.7% in the 1st quarter. Invesco Ltd. now owns 3,056,384 shares of the real estate investment trust’s stock valued at $453,843,000 after purchasing an additional 480,642 shares during the period. 99.11% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of analysts have commented on the stock. Truist Financial reduced their price objective on shares of 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. The Goldman Sachs Group reissued a “neutral” rating and set a $146.00 target price (down from $169.00) on shares of Extra Space Storage in a research note on Thursday, August 21st. Barclays lowered their price target 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. Scotiabank reduced their price objective on Extra Space Storage from $166.00 to $162.00 and set a “sector outperform” rating for the company in a research note on Thursday, August 28th. Finally, UBS Group dropped their target price on Extra Space Storage from $169.00 to $160.00 and set a “buy” rating on the stock in a report on Tuesday, September 16th. Six equities research analysts have rated the stock with a Buy rating, nine have given a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $148.64.

Insider Activity

In related news, CEO Joseph D. Margolis sold 7,500 shares of the company’s stock in a transaction on 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 completion of the sale, the chief executive officer directly owned 19,760 shares in the company, valued at approximately $2,794,261.60. This represents a 27.51% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Insiders own 0.96% of the company’s stock.

Extra Space Storage Stock Performance

Shares of NYSE EXR opened at $150.46 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. Extra Space Storage Inc has a one year low of $121.03 and a one year high of $175.57. The business’s 50-day moving average price is $143.69 and its two-hundred day moving average price is $144.90. The company has a market capitalization of $31.93 billion, a P/E ratio of 32.64, a price-to-earnings-growth ratio of 2.72 and a beta of 1.11.

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 the consensus estimate 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 firm 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 firm earned $2.06 earnings per share. The firm’s quarterly revenue 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. Analysts anticipate 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 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 dividend payout ratio (DPR) is currently 140.56%.

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.