SG Americas Securities LLC Raises Stake in Extra Space Storage Inc. (NYSE:EXR)

SG Americas Securities LLC raised its position in shares of Extra Space Storage Inc. (NYSE:EXR) by 148.3% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 450,754 shares of the real estate investment trust’s stock after purchasing an additional 269,241 shares during the quarter. SG Americas Securities LLC owned 0.21% of Extra Space Storage worth $66,932,000 as of its most recent SEC filing.

Several other hedge funds have also recently modified their holdings of EXR. Golden State Wealth Management LLC purchased a new position in shares of Extra Space Storage in the fourth quarter worth $25,000. Harbour Investments Inc. lifted its holdings in shares of Extra Space Storage by 90.9% in the fourth quarter. Harbour Investments Inc. now owns 168 shares of the real estate investment trust’s stock worth $25,000 after buying an additional 80 shares in the last quarter. Quent Capital LLC lifted its holdings in shares of Extra Space Storage by 89.0% in the fourth quarter. Quent Capital LLC now owns 327 shares of the real estate investment trust’s stock worth $49,000 after buying an additional 154 shares in the last quarter. Asset Planning Inc purchased a new position in shares of Extra Space Storage in the fourth quarter worth $52,000. Finally, Quarry LP lifted its holdings in shares of Extra Space Storage by 156.1% in the fourth quarter. Quarry LP now owns 356 shares of the real estate investment trust’s stock worth $53,000 after buying an additional 217 shares in the last quarter. Hedge funds and other institutional investors own 99.11% of the company’s stock.

Insider Buying and Selling at Extra Space Storage

In other Extra Space Storage news, Director Joseph J. Bonner sold 672 shares of the stock in a transaction dated Thursday, March 13th. The shares were sold at an average price of $149.10, for a total transaction of $100,195.20. Following the completion of the sale, the director now directly owns 4,557 shares of the company’s stock, valued at approximately $679,448.70. This represents a 12.85% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, CEO Joseph D. Margolis sold 7,500 shares of the stock in a transaction dated Tuesday, April 1st. The shares were sold at an average price of $147.45, for a total transaction of $1,105,875.00. Following the sale, the chief executive officer now directly owns 9,190 shares of the company’s stock, valued at approximately $1,355,065.50. The trade was a 44.94% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 0.96% of the company’s stock.

Extra Space Storage Stock Up 0.4%

NYSE:EXR opened at $150.46 on Tuesday. Extra Space Storage Inc. has a 1-year low of $121.03 and a 1-year high of $184.87. The company has a 50-day moving average of $144.04 and a 200 day moving average of $150.17. The firm has a market cap of $31.93 billion, a PE ratio of 39.39, a price-to-earnings-growth ratio of 7.76 and a beta of 1.11. The company has a debt-to-equity ratio of 0.77, a current ratio of 0.23 and a quick ratio of 0.23.

Extra Space Storage (NYSE:EXR) last released its quarterly earnings results on Tuesday, April 29th. The real estate investment trust reported $2.00 EPS for the quarter, beating the consensus estimate of $1.96 by $0.04. The business had revenue of $820.00 million during the quarter, compared to analyst estimates of $705.12 million. Extra Space Storage had a net margin of 25.35% and a return on equity of 5.51%. The company’s quarterly revenue was up 2.6% on a year-over-year basis. During the same period in the prior year, the firm posted $1.96 earnings per share. As a group, research analysts anticipate that Extra Space Storage Inc. will post 8.1 EPS for the current fiscal year.

Extra Space Storage Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, June 30th. Shareholders of record on Monday, June 16th will be given a dividend of $1.62 per share. This represents a $6.48 annualized dividend and a dividend yield of 4.31%. The ex-dividend date is Monday, June 16th. Extra Space Storage’s payout ratio is 150.35%.

Analyst Upgrades and Downgrades

Several equities analysts have recently commented on the stock. Royal Bank of Canada lowered their target price on shares of Extra Space Storage from $163.00 to $160.00 and set a “sector perform” rating on the stock in a report on Thursday, May 1st. Benchmark reduced their price target on shares of Extra Space Storage from $61.00 to $55.00 and set a “buy” rating on the stock in a research report on Tuesday, May 13th. The Goldman Sachs Group restated a “buy” rating on shares of Extra Space Storage in a research report on Thursday, March 6th. Barclays reduced their price target on shares of Extra Space Storage from $181.00 to $178.00 and set an “overweight” rating on the stock in a research report on Friday, May 16th. Finally, Wells Fargo & Company reduced their price target on shares of Extra Space Storage from $170.00 to $165.00 and set an “equal weight” rating on the stock in a research report on Friday, February 21st. Six investment analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $159.33.

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.