Plato Investment Management Ltd Boosts Holdings in Extra Space Storage Inc $EXR

Plato Investment Management Ltd grew its position in Extra Space Storage Inc (NYSE:EXR) by 1,062.8% during the 2nd quarter, Holdings Channel reports. The fund owned 1,093 shares of the real estate investment trust’s stock after buying an additional 999 shares during the quarter. Plato Investment Management Ltd’s holdings in Extra Space Storage were worth $161,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors also recently made changes to their positions in the stock. GKV Capital Management Co. Inc. acquired a new position in Extra Space Storage during the first quarter worth about $29,000. Chung Wu Investment Group LLC acquired a new stake in Extra Space Storage during the 2nd quarter valued at $29,000. Zions Bancorporation National Association UT purchased a new position in Extra Space Storage in the 1st quarter valued at about $50,000. Ameritas Advisory Services LLC purchased a new position in shares of Extra Space Storage during the second quarter valued at approximately $75,000. Finally, Wayfinding Financial LLC purchased a new position in shares of Extra Space Storage during the 1st quarter worth $76,000. 99.11% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at Extra Space Storage

In other Extra Space Storage news, CEO Joseph D. Margolis sold 7,500 shares of the company’s stock in a transaction on 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 transaction, the chief executive officer owned 19,760 shares of the company’s stock, valued at approximately $2,794,261.60. This represents a 27.51% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 0.96% of the company’s stock.

Extra Space Storage Stock Performance

NYSE:EXR opened at $131.17 on Tuesday. The firm’s fifty day simple moving average is $143.69 and its 200 day simple moving average is $145.28. The firm has a market capitalization of $27.84 billion, a PE ratio of 29.28, a PEG ratio of 2.56 and a beta of 1.11. 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 1 year low of $121.03 and a 1 year high of $175.57.

Extra Space Storage (NYSE:EXR) last posted its quarterly earnings results on Wednesday, October 29th. The real estate investment trust reported $2.08 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.06 by $0.02. Extra Space Storage had a net margin of 28.40% and a return on equity of 6.53%. The company had revenue of $838.53 million for the quarter, compared to analyst estimates of $736.26 million. During the same period last year, the business posted $2.07 EPS. The business’s quarterly revenue was up 4.1% on a year-over-year basis. Extra Space Storage has set its FY 2025 guidance at 8.120-8.20 EPS. On average, sell-side analysts anticipate that Extra Space Storage Inc will post 8.1 EPS for the current year.

Extra Space Storage Dividend Announcement

The business also recently declared 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 yield of 4.9%. Extra Space Storage’s dividend payout ratio is 144.64%.

Analyst Upgrades and Downgrades

EXR has been the topic of several research analyst reports. Wall Street Zen cut shares of Extra Space Storage from a “hold” rating to a “sell” rating in a research report on Saturday. UBS Group cut their price target on shares of Extra Space Storage from $169.00 to $160.00 and set a “buy” rating on the stock in a report on Tuesday, September 16th. Royal Bank Of Canada dropped their target price on Extra Space Storage from $160.00 to $148.00 and set a “sector perform” rating on the stock in a research report on Monday, August 4th. The Goldman Sachs Group reissued a “neutral” rating and set a $146.00 price target (down from $169.00) on shares of Extra Space Storage in a report on Thursday, August 21st. Finally, Wells Fargo & Company raised shares of Extra Space Storage from an “equal weight” rating to an “overweight” rating and set a $160.00 price objective on the stock in a research note on Tuesday, August 26th. Six research analysts have rated the stock with a Buy rating and ten have given a Hold rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $148.50.

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.