Chilton Capital Management LLC Trims Stake in Extra Space Storage Inc $EXR

Chilton Capital Management LLC lessened its holdings in shares of Extra Space Storage Inc (NYSE:EXR) by 1.1% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 43,050 shares of the real estate investment trust’s stock after selling 486 shares during the period. Chilton Capital Management LLC’s holdings in Extra Space Storage were worth $6,347,000 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. D.A. Davidson & CO. increased its stake in Extra Space Storage by 7.2% in the first quarter. D.A. Davidson & CO. now owns 1,895 shares of the real estate investment trust’s stock worth $281,000 after purchasing an additional 127 shares during the period. Allspring Global Investments Holdings LLC increased its stake in Extra Space Storage by 1.8% in the 1st quarter. Allspring Global Investments Holdings LLC now owns 22,222 shares of the real estate investment trust’s stock worth $3,285,000 after buying an additional 398 shares during the period. IFP Advisors Inc lifted its holdings in Extra Space Storage by 1,376.5% during the 1st quarter. IFP Advisors Inc now owns 1,698 shares of the real estate investment trust’s stock valued at $252,000 after buying an additional 1,583 shares in the last quarter. Y Intercept Hong Kong Ltd purchased a new stake in Extra Space Storage in the 1st quarter valued at about $1,472,000. Finally, Janney Montgomery Scott LLC grew its stake in Extra Space Storage by 6.9% in the 2nd quarter. Janney Montgomery Scott LLC now owns 6,360 shares of the real estate investment trust’s stock worth $938,000 after acquiring an additional 408 shares in the last quarter. 99.11% of the stock is owned by institutional investors.

Extra Space Storage Stock Performance

Shares of EXR stock opened at $150.46 on Friday. The business has a fifty day moving average of $143.69 and a 200 day moving average of $145.02. Extra Space Storage Inc has a 1 year low of $121.03 and a 1 year high of $175.57. 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 firm has a market capitalization of $31.93 billion, a price-to-earnings ratio of 32.64, a price-to-earnings-growth ratio of 2.71 and a beta of 1.11.

Extra Space Storage (NYSE:EXR) last issued its quarterly earnings results on Wednesday, July 30th. The real estate investment trust reported $2.05 earnings per share for the quarter, missing the consensus estimate 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 analyst estimates of $719.43 million. During the same quarter last year, the company posted $2.06 EPS. Extra Space Storage’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. As a group, research analysts expect that Extra Space Storage Inc will post 8.1 earnings per share for the current year.

Extra Space Storage Announces Dividend

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

Insider Buying and Selling at Extra Space Storage

In other Extra Space Storage news, CEO Joseph D. Margolis sold 7,500 shares of the firm’s stock in a transaction that occurred on Wednesday, October 1st. The stock was sold at an average price of $141.41, for a total value of $1,060,575.00. Following the sale, 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.96% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

Several research analysts have commented on EXR shares. The Goldman Sachs Group restated a “neutral” rating and set a $146.00 price objective (down from $169.00) on shares of Extra Space Storage in a report on Thursday, August 21st. Wells Fargo & Company upgraded Extra Space Storage from an “equal weight” rating to an “overweight” rating and set a $160.00 price objective for the company in a report on Tuesday, August 26th. Weiss Ratings reiterated a “hold (c)” rating on shares of Extra Space Storage in a report on Saturday. Barclays lowered their price target on shares of Extra Space Storage from $178.00 to $169.00 and set an “overweight” rating for the company in a research report on Friday, August 8th. Finally, Truist Financial lowered their target price on Extra Space Storage from $158.00 to $150.00 and set a “hold” rating for the company in a report on Tuesday, August 19th. Six 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 stock. According to data from MarketBeat, Extra Space Storage 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.