Extra Space Storage Inc $EXR Shares Acquired by Creative Planning

Creative Planning raised its position in Extra Space Storage Inc (NYSE:EXR) by 32.1% in the second quarter, Holdings Channel reports. The institutional investor owned 24,784 shares of the real estate investment trust’s stock after purchasing an additional 6,021 shares during the period. Creative Planning’s holdings in Extra Space Storage were worth $3,654,000 as of its most recent filing with the SEC.

A number of other institutional investors have also recently modified their holdings of the business. GKV Capital Management Co. Inc. acquired a new position in Extra Space Storage in the 1st quarter worth about $29,000. Chung Wu Investment Group LLC acquired a new stake in Extra Space Storage in the second quarter valued at approximately $29,000. Zions Bancorporation National Association UT purchased a new stake in shares of Extra Space Storage in the first quarter valued at approximately $50,000. Ameritas Advisory Services LLC acquired a new position in shares of Extra Space Storage during the 2nd quarter worth approximately $75,000. Finally, Avalon Trust Co acquired a new position in shares of Extra Space Storage during the 1st quarter worth approximately $79,000. 99.11% of the stock is currently owned by institutional investors and hedge funds.

Extra Space Storage Price Performance

Shares of NYSE EXR opened at $131.45 on Friday. The firm has a 50-day simple moving average of $140.13 and a 200-day simple moving average of $144.06. The stock has a market capitalization of $27.90 billion, a price-to-earnings ratio of 29.34, a price-to-earnings-growth ratio of 2.56 and a beta of 1.14. 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 Inc has a 52 week low of $121.03 and a 52 week high of $175.57.

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 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 firm had revenue of $858.46 million for the quarter, compared to analyst estimates of $736.26 million. During the same period in the previous year, the business posted $2.07 earnings per share. Extra Space Storage’s quarterly revenue was up 4.1% on a year-over-year basis. Extra Space Storage has set its FY 2025 guidance at 8.120-8.20 EPS. On average, equities analysts predict that Extra Space Storage Inc will post 8.1 earnings per share for the current fiscal year.

Extra Space Storage Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, December 31st. Investors of record on Monday, December 15th will be issued a $1.62 dividend. This represents a $6.48 annualized dividend and a dividend yield of 4.9%. The ex-dividend date of this dividend is Monday, December 15th. Extra Space Storage’s dividend payout ratio (DPR) is currently 144.64%.

Insiders Place Their Bets

In other Extra Space Storage 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 transaction, the chief executive officer owned 19,760 shares of the company’s stock, 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 filing with the SEC, which is accessible through the SEC website. Company insiders own 0.96% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts recently commented on EXR shares. Royal Bank Of Canada cut 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 report on Friday, November 7th. Evercore ISI reiterated a “cautious” rating on shares of Extra Space Storage in a research report on Monday, November 3rd. Scotiabank cut their target price 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. Wells Fargo & Company raised shares of Extra Space Storage from an “equal weight” rating to an “overweight” rating and set a $160.00 price target on the stock in a research note on Tuesday, August 26th. Finally, UBS Group lowered their price objective on Extra Space Storage from $169.00 to $160.00 and set a “buy” rating on the stock in a report on Tuesday, September 16th. Six research analysts have rated the stock with a Buy rating and ten have given a Hold rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $148.36.

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.