VIRGINIA RETIREMENT SYSTEMS ET Al Buys New Position in Extra Space Storage Inc $EXR

VIRGINIA RETIREMENT SYSTEMS ET Al bought a new stake in shares of Extra Space Storage Inc (NYSE:EXR) in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund bought 75,187 shares of the real estate investment trust’s stock, valued at approximately $11,086,000.

Several other large investors also recently added to or reduced their stakes in the business. D.A. Davidson & CO. boosted its position in shares of Extra Space Storage by 7.2% in the first quarter. D.A. Davidson & CO. now owns 1,895 shares of the real estate investment trust’s stock worth $281,000 after purchasing an additional 127 shares during the period. Allspring Global Investments Holdings LLC boosted its position in shares of Extra Space Storage by 1.8% in the first quarter. Allspring Global Investments Holdings LLC now owns 22,222 shares of the real estate investment trust’s stock worth $3,285,000 after purchasing an additional 398 shares during the period. QRG Capital Management Inc. boosted its position in shares of Extra Space Storage by 21.4% in the first quarter. QRG Capital Management Inc. now owns 2,684 shares of the real estate investment trust’s stock worth $399,000 after purchasing an additional 474 shares during the period. IFP Advisors Inc boosted its position in shares of Extra Space Storage by 1,376.5% in the first quarter. IFP Advisors Inc now owns 1,698 shares of the real estate investment trust’s stock worth $252,000 after purchasing an additional 1,583 shares during the period. Finally, Wealth Enhancement Advisory Services LLC boosted its position in shares of Extra Space Storage by 44.6% in the first quarter. Wealth Enhancement Advisory Services LLC now owns 22,593 shares of the real estate investment trust’s stock worth $3,355,000 after purchasing an additional 6,964 shares during the period. 99.11% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of research firms have weighed in on EXR. Truist Financial dropped their price target on shares of Extra Space Storage from $158.00 to $150.00 and set a “hold” rating for the company in a research report on Tuesday, August 19th. BNP Paribas Exane began coverage on shares of Extra Space Storage in a research report on Tuesday, June 24th. They issued a “neutral” rating and a $156.00 price target for the company. Wall Street Zen upgraded shares of Extra Space Storage from a “sell” rating to a “hold” rating in a research report on Saturday, October 11th. BNP Paribas raised shares of Extra Space Storage to a “hold” rating in a report on Tuesday, June 24th. Finally, Evercore ISI boosted their target price on shares of Extra Space Storage from $147.00 to $149.00 and gave the stock a “cautious” rating in a report on Friday, October 3rd. Six research analysts have rated the stock with a Buy rating, nine have given a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $148.64.

Extra Space Storage Price Performance

EXR stock opened at $151.42 on Tuesday. The company has a market capitalization of $32.14 billion, a PE ratio of 32.85, a price-to-earnings-growth ratio of 2.73 and a beta of 1.11. The company’s fifty day moving average price is $142.55 and its 200-day moving average price is $144.51. The company has a debt-to-equity ratio of 0.88, a quick ratio of 0.29 and a current ratio of 0.29. Extra Space Storage Inc has a one year low of $121.03 and a one year high of $175.57.

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

Extra Space Storage Dividend Announcement

The firm also recently declared 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. The ex-dividend date of this dividend was Monday, September 15th. This represents a $6.48 dividend on an annualized basis and a yield of 4.3%. Extra Space Storage’s dividend payout ratio is presently 140.56%.

Insider Transactions at Extra Space Storage

In related news, CEO Joseph D. Margolis sold 7,500 shares of the company’s stock in a transaction on Wednesday, October 1st. The shares were sold at an average price of $141.41, for a total transaction of $1,060,575.00. Following the sale, the chief executive officer owned 19,760 shares of the company’s stock, valued at $2,794,261.60. This represents 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 through this link. 1.36% of the stock is currently owned by insiders.

About Extra Space Storage

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.