Waterloo Capital L.P. Buys Shares of 1,707 Extra Space Storage Inc $EXR

Waterloo Capital L.P. purchased a new position in shares of Extra Space Storage Inc (NYSE:EXR) in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 1,707 shares of the real estate investment trust’s stock, valued at approximately $252,000.

Several other hedge funds have also recently modified their holdings of the stock. FARMERS & MERCHANTS TRUST Co OF LONG BEACH increased its stake in Extra Space Storage by 4.6% in the 2nd quarter. FARMERS & MERCHANTS TRUST Co OF LONG BEACH now owns 1,825 shares of the real estate investment trust’s stock valued at $269,000 after buying an additional 80 shares during the period. Farther Finance Advisors LLC increased its stake in shares of Extra Space Storage by 6.5% during the second quarter. Farther Finance Advisors LLC now owns 1,559 shares of the real estate investment trust’s stock worth $230,000 after acquiring an additional 95 shares during the period. Blair William & Co. IL increased its stake in shares of Extra Space Storage by 4.1% during the first quarter. Blair William & Co. IL now owns 2,693 shares of the real estate investment trust’s stock worth $400,000 after acquiring an additional 105 shares during the period. Benjamin Edwards Inc. raised its holdings in Extra Space Storage by 2.5% during the first quarter. Benjamin Edwards Inc. now owns 4,759 shares of the real estate investment trust’s stock worth $707,000 after purchasing an additional 118 shares in the last quarter. Finally, Moody Lynn & Lieberson LLC lifted its position in Extra Space Storage by 0.4% in the second quarter. Moody Lynn & Lieberson LLC now owns 28,289 shares of the real estate investment trust’s stock valued at $4,171,000 after purchasing an additional 119 shares during the period. 99.11% of the stock is owned by institutional investors and hedge funds.

Extra Space Storage Price Performance

Extra Space Storage stock opened at $132.36 on Wednesday. The firm has a market capitalization of $28.09 billion, a PE ratio of 29.54, a P/E/G ratio of 2.56 and a beta of 1.14. Extra Space Storage Inc has a 52 week low of $121.03 and a 52 week high of $175.57. The firm’s 50-day simple moving average is $139.63 and its 200 day simple moving average is $143.81. 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 company had revenue of $858.46 million during the quarter, compared to analysts’ expectations of $736.26 million. During the same quarter in the previous year, the business posted $2.07 earnings per share. The firm’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 research analysts predict that Extra Space Storage Inc will post 8.1 EPS for the current fiscal year.

Extra Space Storage Announces Dividend

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

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 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 completion of the transaction, 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 filing with the SEC, which is accessible through this link. Company insiders own 0.96% of the company’s stock.

Wall Street Analysts Forecast Growth

EXR has been the topic of several recent analyst reports. Citigroup dropped their target price on 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. Royal Bank Of Canada dropped their price objective on Extra Space Storage from $148.00 to $146.00 and set a “sector perform” rating on the stock in a report on Friday, November 7th. Barclays cut their price objective on Extra Space Storage from $178.00 to $169.00 and set an “overweight” rating for the company in a research report on Friday, August 8th. 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, The Goldman Sachs Group reiterated a “neutral” rating and issued a $146.00 price target (down previously from $169.00) on shares of Extra Space Storage in a report on Thursday, August 21st. Six analysts have rated the stock with a Buy rating and ten have assigned a Hold rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target 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.