Westpac Banking Corp Has $6.06 Million Stock Position in Extra Space Storage Inc $EXR

Westpac Banking Corp cut its stake in Extra Space Storage Inc (NYSE:EXR) by 4.8% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 41,065 shares of the real estate investment trust’s stock after selling 2,056 shares during the period. Westpac Banking Corp’s holdings in Extra Space Storage were worth $6,055,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently bought and sold shares of EXR. GKV Capital Management Co. Inc. acquired a new stake in shares of Extra Space Storage during the 1st quarter worth approximately $29,000. Chung Wu Investment Group LLC bought a new position in Extra Space Storage in the second quarter worth $29,000. MTM Investment Management LLC acquired a new stake in Extra Space Storage during the second quarter worth $38,000. Zions Bancorporation National Association UT acquired a new stake in Extra Space Storage during the first quarter worth $50,000. Finally, Ameritas Advisory Services LLC bought a new stake in Extra Space Storage in the 2nd quarter valued at $75,000. 99.11% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several research firms recently issued reports on EXR. Royal Bank Of Canada dropped their price target on shares of Extra Space Storage from $148.00 to $146.00 and set a “sector perform” rating for the company in a research report on Friday, November 7th. Barclays dropped their target price on Extra Space Storage from $178.00 to $169.00 and set an “overweight” rating for the company in a report on Friday, August 8th. Wall Street Zen lowered Extra Space Storage from a “hold” rating to a “sell” rating in a research note on Saturday, November 1st. Evercore ISI reiterated a “cautious” rating on shares of Extra Space Storage in a research note on Monday, November 3rd. Finally, UBS Group cut their price objective on Extra Space Storage from $169.00 to $160.00 and set a “buy” rating for the company in a report on Tuesday, September 16th. Six 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.com, Extra Space Storage currently has a consensus rating of “Hold” and a consensus target price of $148.36.

Extra Space Storage Trading Up 0.7%

EXR opened at $132.89 on Friday. The firm’s fifty day moving average is $141.77 and its two-hundred day moving average is $144.70. The firm has a market cap 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 Inc has a twelve month low of $121.03 and a twelve month high of $175.57. The company has a debt-to-equity ratio of 0.88, a quick ratio of 0.29 and a current ratio of 0.29.

Extra Space Storage (NYSE:EXR) last released its quarterly earnings results on Wednesday, October 29th. The real estate investment trust reported $2.08 EPS for the quarter, topping analysts’ consensus estimates of $2.06 by $0.02. Extra Space Storage had a return on equity of 6.53% and a net margin of 28.40%.The company had revenue of $858.46 million for the quarter, compared to analyst estimates of $736.26 million. During the same quarter last 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. Equities research 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. Stockholders of record on Monday, September 15th were issued a $1.62 dividend. This represents a $6.48 annualized dividend and a dividend yield of 4.9%. The ex-dividend date was Monday, September 15th. Extra Space Storage’s dividend payout ratio is 144.64%.

Insider Activity

In other news, CEO Joseph D. Margolis sold 7,500 shares of the stock in a transaction 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 completion of the sale, the chief executive officer owned 19,760 shares of the company’s stock, valued at $2,794,261.60. This represents a 27.51% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.96% of the stock is owned by corporate insiders.

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.