Extra Space Storage Inc $EXR Stock Holdings Increased by Twin Capital Management Inc.

Twin Capital Management Inc. boosted its stake in shares of Extra Space Storage Inc (NYSE:EXR) by 23.4% during the second quarter, according to its most recent disclosure with the SEC. The institutional investor owned 4,507 shares of the real estate investment trust’s stock after purchasing an additional 856 shares during the period. Twin Capital Management Inc.’s holdings in Extra Space Storage were worth $665,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. D.A. Davidson & CO. increased its stake in shares of 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 acquiring an additional 127 shares during the last quarter. U.S. Capital Wealth Advisors LLC grew its stake in Extra Space Storage by 1.2% in the first quarter. U.S. Capital Wealth Advisors LLC now owns 10,111 shares of the real estate investment trust’s stock valued at $1,501,000 after purchasing an additional 123 shares in the last quarter. Greenleaf Trust increased its position in Extra Space Storage by 20.8% in the 1st quarter. Greenleaf Trust now owns 2,609 shares of the real estate investment trust’s stock worth $387,000 after purchasing an additional 449 shares during the last quarter. Cerity Partners LLC raised its stake in shares of Extra Space Storage by 127.4% during the 1st quarter. Cerity Partners LLC now owns 35,451 shares of the real estate investment trust’s stock worth $5,264,000 after purchasing an additional 19,862 shares in the last quarter. Finally, Arizona State Retirement System raised its stake in shares of Extra Space Storage by 1.8% during the 1st quarter. Arizona State Retirement System now owns 61,266 shares of the real estate investment trust’s stock worth $9,097,000 after purchasing an additional 1,095 shares in the last quarter. Hedge funds and other institutional investors own 99.11% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms recently commented on EXR. Evercore ISI restated a “cautious” rating on shares of Extra Space Storage in a report on Monday. The Goldman Sachs Group restated a “neutral” rating and set a $146.00 price target (down previously from $169.00) on shares of Extra Space Storage in a research note on Thursday, August 21st. Scotiabank decreased their price objective on shares of Extra Space Storage from $166.00 to $162.00 and set a “sector outperform” rating for the company in a report on Thursday, August 28th. Royal Bank Of Canada lowered their target price on shares of 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. Finally, Weiss Ratings reaffirmed a “hold (c)” rating on shares of Extra Space Storage in a research report on Wednesday, October 8th. Six analysts have rated the stock with a Buy rating and ten have assigned a Hold rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $148.50.

Extra Space Storage Stock Performance

Shares of NYSE EXR 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 company has a market cap of $27.83 billion, a P/E ratio of 29.26, a P/E/G ratio of 2.56 and a beta of 1.14. The business’s 50 day moving average is $143.11 and its two-hundred day moving average is $145.03. The company has a quick ratio of 0.29, a current ratio of 0.29 and a debt-to-equity ratio of 0.88.

Extra Space Storage (NYSE:EXR) last announced its earnings results on Wednesday, October 29th. The real estate investment trust reported $2.08 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 business had revenue of $838.53 million for the quarter, compared to analyst estimates of $736.26 million. During the same quarter in the previous year, the firm posted $2.07 earnings per share. Extra Space Storage’s revenue was up 4.1% compared to the same quarter last year. Extra Space Storage has set its FY 2025 guidance at 8.120-8.20 EPS. On average, equities analysts expect that Extra Space Storage Inc will post 8.1 EPS for the current year.

Extra Space Storage Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, September 30th. Shareholders of record on Monday, September 15th were given a $1.62 dividend. The ex-dividend date 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 dividend payout ratio (DPR) is currently 144.64%.

Insider Buying and Selling at Extra Space Storage

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 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 in the company, valued at approximately $2,794,261.60. The trade was a 27.51% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Insiders own 1.36% of the company’s stock.

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.