Vise Technologies Inc. Makes New $262,000 Investment in Extra Space Storage Inc $EXR

Vise Technologies Inc. bought a new position in Extra Space Storage Inc (NYSE:EXR) during the second quarter, HoldingsChannel reports. The fund bought 1,779 shares of the real estate investment trust’s stock, valued at approximately $262,000.

A number of other hedge funds also recently made changes to their positions in EXR. ProShare Advisors LLC boosted its holdings in shares of Extra Space Storage by 7.9% during the 2nd quarter. ProShare Advisors LLC now owns 43,760 shares of the real estate investment trust’s stock valued at $6,452,000 after purchasing an additional 3,216 shares during the last quarter. Acadian Asset Management LLC purchased a new stake in Extra Space Storage during the second quarter valued at $11,161,000. Global Wealth Management Investment Advisory Inc. grew its stake in shares of Extra Space Storage by 0.6% in the 2nd quarter. Global Wealth Management Investment Advisory Inc. now owns 23,360 shares of the real estate investment trust’s stock worth $3,444,000 after buying an additional 148 shares in the last quarter. Campbell & CO Investment Adviser LLC lifted its holdings in shares of Extra Space Storage by 22.9% in the 2nd quarter. Campbell & CO Investment Adviser LLC now owns 3,152 shares of the real estate investment trust’s stock valued at $465,000 after acquiring an additional 587 shares during the last quarter. Finally, Mitsubishi UFJ Asset Management Co. Ltd. increased its stake in Extra Space Storage by 5.9% during the second quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 554,945 shares of the real estate investment trust’s stock worth $81,821,000 after acquiring an additional 30,778 shares during the last quarter. 99.11% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of research firms have weighed in on EXR. Scotiabank cut their price objective on shares of Extra Space Storage from $166.00 to $162.00 and set a “sector outperform” rating on the stock in a research report on Thursday, August 28th. Evercore ISI reiterated a “cautious” rating on shares of Extra Space Storage in a report on Monday, November 3rd. Wall Street Zen lowered Extra Space Storage from a “hold” rating to a “sell” rating in a research report on Saturday, November 1st. Truist Financial decreased their price target on Extra Space Storage from $158.00 to $150.00 and set a “hold” rating for the company in a research note on Tuesday, August 19th. Finally, Citigroup cut their price target on shares of Extra Space Storage from $165.00 to $150.00 and set a “neutral” rating on the stock in a report on Friday, August 22nd. Six investment analysts have rated the stock with a Buy rating and ten have given a Hold rating to the company. According to data from MarketBeat.com, Extra Space Storage presently has a consensus rating of “Hold” and a consensus price target of $148.36.

Insiders Place Their Bets

In other Extra Space Storage news, CEO Joseph D. Margolis sold 7,500 shares of Extra Space Storage stock in a transaction dated Wednesday, October 1st. The stock was 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 $2,794,261.60. The trade was a 27.51% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 0.96% of the stock is currently owned by insiders.

Extra Space Storage Stock Performance

EXR stock opened at $130.58 on Tuesday. Extra Space Storage Inc has a 1-year low of $121.03 and a 1-year high of $175.57. The business has a 50-day moving average price of $141.44 and a 200 day moving average price of $144.56. The company has a market capitalization of $27.72 billion, a P/E ratio of 29.15, a PEG ratio of 2.56 and a beta of 1.14. The company has a debt-to-equity ratio of 0.88, a current ratio of 0.29 and a quick ratio of 0.29.

Extra Space Storage (NYSE:EXR) last posted its earnings results on Wednesday, October 29th. The real estate investment trust reported $2.08 EPS for the quarter, beating 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 business had revenue of $858.46 million for the quarter, compared to the consensus estimate of $736.26 million. During the same quarter last year, the firm posted $2.07 EPS. The company’s revenue for the quarter 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. As a group, equities research analysts forecast that Extra Space Storage Inc will post 8.1 EPS for the current fiscal year.

Extra Space Storage Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, September 30th. Investors of record on Monday, September 15th were paid a dividend of $1.62 per share. This represents a $6.48 dividend on an annualized basis and a dividend yield of 5.0%. The ex-dividend date was Monday, September 15th. Extra Space Storage’s dividend payout ratio is 144.64%.

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.