Westwood Holdings Group Inc. Makes New $7.38 Million Investment in Extra Space Storage Inc $EXR

Westwood Holdings Group Inc. bought a new stake in shares of Extra Space Storage Inc (NYSE:EXR) in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund bought 50,032 shares of the real estate investment trust’s stock, valued at approximately $7,377,000.

A number of other institutional investors and hedge funds have also recently modified their holdings of the company. Vanguard Group Inc. grew its stake in Extra Space Storage by 0.9% during the first quarter. Vanguard Group Inc. now owns 33,969,485 shares of the real estate investment trust’s stock valued at $5,044,129,000 after acquiring an additional 295,556 shares in the last quarter. Geode Capital Management LLC boosted its holdings in Extra Space Storage by 1.8% in the 2nd quarter. Geode Capital Management LLC now owns 5,795,253 shares of the real estate investment trust’s stock valued at $851,070,000 after purchasing an additional 100,637 shares during the period. JPMorgan Chase & Co. grew its position in shares of Extra Space Storage by 205.7% during the 1st quarter. JPMorgan Chase & Co. now owns 4,094,555 shares of the real estate investment trust’s stock valued at $608,001,000 after purchasing an additional 2,755,265 shares in the last quarter. Invesco Ltd. increased its holdings in shares of Extra Space Storage by 18.7% in the first quarter. Invesco Ltd. now owns 3,056,384 shares of the real estate investment trust’s stock worth $453,843,000 after purchasing an additional 480,642 shares during the period. Finally, Northern Trust Corp raised its position in shares of Extra Space Storage by 1.7% in the first quarter. Northern Trust Corp now owns 2,922,828 shares of the real estate investment trust’s stock worth $434,011,000 after buying an additional 47,779 shares in the last quarter. 99.11% of the stock is owned by hedge funds and other institutional investors.

Extra Space Storage Stock Up 0.7%

Shares of NYSE:EXR opened at $132.89 on Friday. The stock has a market capitalization of $28.21 billion, a P/E ratio of 29.66, a price-to-earnings-growth ratio of 2.56 and a beta of 1.14. The stock’s 50-day moving average price is $141.77 and its 200-day moving average price is $144.70. 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 12-month low of $121.03 and a 12-month high of $175.57.

Extra Space Storage (NYSE:EXR) last issued its earnings results on Wednesday, October 29th. The real estate investment trust reported $2.08 earnings per share for the quarter, beating the consensus estimate 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 during the quarter, compared to analysts’ expectations of $736.26 million. During the same period in the prior year, the business posted $2.07 EPS. Extra Space Storage’s quarterly 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 anticipate that Extra Space Storage Inc will post 8.1 earnings per share for the current year.

Extra Space Storage Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, September 30th. Shareholders 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 annualized dividend and a yield of 4.9%. Extra Space Storage’s dividend payout ratio is presently 144.64%.

Analyst Ratings Changes

EXR has been the topic of a number of research analyst reports. Weiss Ratings restated a “hold (c)” rating on shares of Extra Space Storage in a research note on Wednesday, October 8th. Scotiabank cut their price target on shares of Extra Space Storage from $166.00 to $162.00 and set a “sector outperform” rating for the company in a research note on Thursday, August 28th. Citigroup lowered their price objective 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. The Goldman Sachs Group reaffirmed a “neutral” rating and set a $146.00 price objective (down from $169.00) on shares of Extra Space Storage in a report on Thursday, August 21st. Finally, Wall Street Zen cut Extra Space Storage from a “hold” rating to a “sell” rating in a research note on Saturday, November 1st. Six investment analysts have rated the stock with a Buy rating and ten have assigned a Hold rating to the company’s stock. According to MarketBeat, Extra Space Storage has an average rating of “Hold” and a consensus target price of $148.36.

Insider Transactions at Extra Space Storage

In other Extra Space Storage news, CEO Joseph D. Margolis sold 7,500 shares of the business’s stock in a transaction dated Wednesday, October 1st. The shares were sold at an average price of $141.41, for a total value of $1,060,575.00. Following the transaction, the chief executive officer 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 legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.96% of the stock is currently owned by company 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.