Extra Space Storage Inc $EXR Stake Raised by Huntington National Bank

Huntington National Bank lifted its holdings in shares of Extra Space Storage Inc (NYSE:EXR) by 19.4% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 2,647 shares of the real estate investment trust’s stock after buying an additional 431 shares during the period. Huntington National Bank’s holdings in Extra Space Storage were worth $390,000 at the end of the most recent reporting period.

Several other large investors have also recently added to or reduced their stakes in the business. FARMERS & MERCHANTS TRUST Co OF LONG BEACH boosted its position in Extra Space Storage by 4.6% during the 2nd quarter. FARMERS & MERCHANTS TRUST Co OF LONG BEACH now owns 1,825 shares of the real estate investment trust’s stock worth $269,000 after acquiring an additional 80 shares during the period. Farther Finance Advisors LLC increased its holdings in shares of Extra Space Storage by 6.5% during the second quarter. Farther Finance Advisors LLC now owns 1,559 shares of the real estate investment trust’s stock valued at $230,000 after purchasing an additional 95 shares during the period. Blair William & Co. IL raised its stake in shares of Extra Space Storage by 4.1% during the first quarter. Blair William & Co. IL now owns 2,693 shares of the real estate investment trust’s stock valued at $400,000 after purchasing an additional 105 shares in the last quarter. Benjamin Edwards Inc. lifted its holdings in Extra Space Storage by 2.5% in the first quarter. Benjamin Edwards Inc. now owns 4,759 shares of the real estate investment trust’s stock worth $707,000 after purchasing an additional 118 shares during the period. Finally, Moody Lynn & Lieberson LLC lifted its holdings in Extra Space Storage by 0.4% in the second quarter. Moody Lynn & Lieberson LLC now owns 28,289 shares of the real estate investment trust’s stock worth $4,171,000 after purchasing an additional 119 shares during the period. 99.11% of the stock is currently owned by institutional investors and hedge funds.

Extra Space Storage Stock Down 1.4%

EXR stock opened at $131.10 on Friday. Extra Space Storage Inc has a 12 month low of $121.03 and a 12 month high of $175.57. The firm has a market cap of $27.83 billion, a PE ratio of 29.26, a P/E/G ratio of 2.56 and a beta of 1.14. The firm has a 50 day simple moving average of $143.11 and a 200 day simple moving average of $145.03. 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 (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. The firm had revenue of $838.53 million for the quarter, compared to analyst estimates of $736.26 million. Extra Space Storage had a net margin of 28.40% and a return on equity of 6.53%. The firm’s quarterly revenue was up 4.1% compared to the same quarter last year. During the same quarter in the previous year, the business posted $2.07 earnings per share. Extra Space Storage has set its FY 2025 guidance at 8.120-8.20 EPS. Equities research analysts forecast that Extra Space Storage Inc will post 8.1 earnings per share for the current fiscal year.

Extra Space Storage Announces Dividend

The business 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 of this dividend was Monday, September 15th. This represents a $6.48 dividend on an annualized basis and a dividend yield of 4.9%. Extra Space Storage’s payout ratio is 144.64%.

Insider Activity

In other news, CEO Joseph D. Margolis sold 7,500 shares of the business’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 sale, the chief executive officer directly owned 19,760 shares of the company’s stock, valued at $2,794,261.60. The trade was 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 available at this link. 1.36% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

Several research firms have commented on EXR. Truist Financial lowered their target price on shares of 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 objective on shares of Extra Space Storage from $160.00 to $148.00 and set a “sector perform” rating on the stock in a research note on Monday, August 4th. Wells Fargo & Company raised Extra Space Storage from an “equal weight” rating to an “overweight” rating and set a $160.00 target price on the stock in a report on Tuesday, August 26th. Citigroup cut their target price 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. Finally, Weiss Ratings reiterated a “hold (c)” rating on shares of Extra Space Storage in a research report on Wednesday, October 8th. Six research analysts have rated the stock with a Buy rating and ten have given a Hold rating to the company. According to MarketBeat, the company has a consensus rating of “Hold” and an average 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.