Inspire Investing LLC Acquires 896 Shares of Extra Space Storage Inc $EXR

Inspire Investing LLC increased its holdings in shares of Extra Space Storage Inc (NYSE:EXR) by 4.4% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 21,476 shares of the real estate investment trust’s stock after purchasing an additional 896 shares during the period. Inspire Investing LLC’s holdings in Extra Space Storage were worth $3,189,000 at the end of the most recent quarter.

Several other institutional investors have also modified their holdings of the business. Siemens Fonds Invest GmbH lifted its holdings in shares of Extra Space Storage by 3.0% during the 4th quarter. Siemens Fonds Invest GmbH now owns 2,320 shares of the real estate investment trust’s stock valued at $342,000 after purchasing an additional 68 shares in the last quarter. Exchange Traded Concepts LLC lifted its holdings in shares of Extra Space Storage by 8.5% during the 1st quarter. Exchange Traded Concepts LLC now owns 934 shares of the real estate investment trust’s stock valued at $139,000 after purchasing an additional 73 shares in the last quarter. Naviter Wealth LLC lifted its holdings in shares of Extra Space Storage by 0.6% during the 1st quarter. Naviter Wealth LLC now owns 13,645 shares of the real estate investment trust’s stock valued at $2,007,000 after purchasing an additional 82 shares in the last quarter. Mackenzie Financial Corp lifted its holdings in shares of Extra Space Storage by 0.5% during the 4th quarter. Mackenzie Financial Corp now owns 18,363 shares of the real estate investment trust’s stock valued at $2,747,000 after purchasing an additional 90 shares in the last quarter. Finally, Taylor Frigon Capital Management LLC lifted its holdings in shares of Extra Space Storage by 0.8% during the 1st quarter. Taylor Frigon Capital Management LLC now owns 12,248 shares of the real estate investment trust’s stock valued at $1,819,000 after purchasing an additional 93 shares in the last quarter. Institutional investors own 99.11% of the company’s stock.

Extra Space Storage Stock Up 2.4%

EXR stock opened at $148.46 on Friday. The company has a quick ratio of 0.29, a current ratio of 0.29 and a debt-to-equity ratio of 0.88. The business has a 50 day moving average price of $144.00 and a two-hundred day moving average price of $145.68. The company has a market cap of $31.51 billion, a price-to-earnings ratio of 32.20, a P/E/G ratio of 3.51 and a beta of 1.09. Extra Space Storage Inc has a twelve month low of $121.03 and a twelve month high of $184.87.

Extra Space Storage (NYSE:EXR) last posted its quarterly earnings results on Wednesday, July 30th. The real estate investment trust reported $2.05 earnings per share for the quarter, missing analysts’ consensus estimates of $2.06 by ($0.01). The company had revenue of $841.62 million during the quarter, compared to the consensus estimate of $719.43 million. Extra Space Storage had a net margin of 29.51% and a return on equity of 6.69%. The firm’s revenue for the quarter was up 3.8% compared to the same quarter last year. During the same quarter in the prior year, the business earned $2.06 earnings per share. Extra Space Storage has set its FY 2025 guidance at 8.050-8.25 EPS. Analysts anticipate that Extra Space Storage Inc will post 8.1 EPS for the current fiscal year.

Extra Space Storage Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, September 30th. Shareholders of record on Monday, September 15th will be paid a $1.62 dividend. This represents a $6.48 dividend on an annualized basis and a yield of 4.4%. The ex-dividend date is Monday, September 15th. Extra Space Storage’s dividend payout ratio (DPR) is currently 140.56%.

Wall Street Analyst Weigh In

A number of brokerages recently issued reports on EXR. Evercore ISI dropped their target price on Extra Space Storage from $148.00 to $146.00 and set an “in-line” rating on the stock in a research report on Monday, August 4th. The Goldman Sachs Group reissued a “neutral” rating and issued a $146.00 target price (down previously from $169.00) on shares of Extra Space Storage in a research report on Thursday, August 21st. Wells Fargo & Company raised Extra Space Storage from an “equal weight” rating to an “overweight” rating and set a $160.00 target price on the stock in a research report on Tuesday, August 26th. Barclays dropped their target price on Extra Space Storage from $178.00 to $169.00 and set an “overweight” rating on the stock in a research report on Friday, August 8th. Finally, Truist Financial dropped their target price on Extra Space Storage from $158.00 to $150.00 and set a “hold” rating on the stock in a research report on Tuesday, August 19th. Six research analysts have rated the stock with a Buy rating and nine have given a Hold rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $151.57.

Insiders Place Their Bets

In other Extra Space Storage news, CEO Joseph D. Margolis sold 7,500 shares of the firm’s stock in a transaction that occurred on Tuesday, July 1st. The stock was sold at an average price of $150.35, for a total value of $1,127,625.00. Following the completion of the transaction, the chief executive officer directly owned 27,260 shares in the company, valued at $4,098,541. This trade represents a 21.58% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 0.96% of the stock is currently owned by corporate insiders.

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.