Extra Space Storage Inc $EXR Shares Sold by SG Americas Securities LLC

SG Americas Securities LLC lowered its stake in shares of Extra Space Storage Inc (NYSE:EXR) by 29.7% in the second quarter, according to its most recent 13F filing with the SEC. The firm owned 317,023 shares of the real estate investment trust’s stock after selling 133,731 shares during the period. SG Americas Securities LLC’s holdings in Extra Space Storage were worth $46,742,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in EXR. GKV Capital Management Co. Inc. acquired a new position in Extra Space Storage during the first quarter worth $29,000. Chung Wu Investment Group LLC acquired a new position in Extra Space Storage during the 2nd quarter worth about $29,000. Zions Bancorporation National Association UT purchased a new position in Extra Space Storage during the 1st quarter valued at about $50,000. Ameritas Advisory Services LLC acquired a new position in Extra Space Storage in the 2nd quarter valued at about $75,000. Finally, Avalon Trust Co acquired a new position in Extra Space Storage in the 1st quarter valued at about $79,000. Hedge funds and other institutional investors own 99.11% of the company’s stock.

Extra Space Storage Trading Up 0.7%

NYSE EXR opened at $132.89 on Friday. Extra Space Storage Inc has a 52 week low of $121.03 and a 52 week high of $175.57. The firm has a 50 day moving average of $141.77 and a two-hundred day moving average of $144.68. The company has a quick ratio of 0.29, a current ratio of 0.29 and a debt-to-equity ratio of 0.88. The stock has a market capitalization of $28.21 billion, a PE ratio of 29.66, a price-to-earnings-growth ratio of 2.56 and a beta of 1.14.

Extra Space Storage (NYSE:EXR) last announced its quarterly earnings data on Wednesday, October 29th. The real estate investment trust reported $2.08 earnings per share for the quarter, beating analysts’ consensus estimates of $2.06 by $0.02. The business had revenue of $858.46 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 company’s revenue was up 4.1% on a year-over-year basis. During the same period last year, the business earned $2.07 EPS. Extra Space Storage has set its FY 2025 guidance at 8.120-8.20 EPS. As a group, research analysts expect that Extra Space Storage Inc will post 8.1 EPS for the current fiscal year.

Extra Space Storage Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, September 30th. Investors of record on Monday, September 15th were issued a $1.62 dividend. This represents a $6.48 dividend on an annualized basis and a yield of 4.9%. The ex-dividend date of this dividend was Monday, September 15th. Extra Space Storage’s dividend payout ratio is 144.64%.

Analysts Set New Price Targets

Several analysts have recently issued reports on EXR shares. Citigroup reduced their price target on shares of Extra Space Storage from $165.00 to $150.00 and set a “neutral” rating on the stock in a research report on Friday, August 22nd. UBS Group reduced their target price 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. Evercore ISI restated a “cautious” rating on shares of Extra Space Storage in a research note on Monday, November 3rd. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Extra Space Storage in a research report on Wednesday, October 8th. Finally, Barclays reduced their price objective on Extra Space Storage from $178.00 to $169.00 and set an “overweight” rating on the stock in a research note on Friday, August 8th. Six research analysts have rated the stock with a Buy rating and ten have given a Hold rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $148.36.

Insider Buying and Selling

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 shares were sold at an average price of $141.41, for a total transaction of $1,060,575.00. Following the sale, the chief executive officer 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 0.96% of the stock is owned by corporate insiders.

Extra Space Storage 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.