Marshall Wace LLP Grows Stake in Extra Space Storage Inc $EXR

Marshall Wace LLP raised its position in Extra Space Storage Inc (NYSE:EXR) by 60.1% during the second quarter, according to its most recent filing with the SEC. The institutional investor owned 1,477,404 shares of the real estate investment trust’s stock after purchasing an additional 554,666 shares during the period. Marshall Wace LLP owned 0.70% of Extra Space Storage worth $217,828,000 at the end of the most recent quarter.

Other hedge funds have also modified their holdings of the company. GKV Capital Management Co. Inc. acquired a new position in shares of Extra Space Storage during the 1st quarter valued at about $29,000. Chung Wu Investment Group LLC acquired a new stake in shares of Extra Space Storage during the second quarter valued at about $29,000. Elevation Point Wealth Partners LLC purchased a new stake in shares of Extra Space Storage in the 2nd quarter valued at approximately $37,000. MTM Investment Management LLC purchased a new position in shares of Extra Space Storage during the 2nd quarter worth approximately $38,000. Finally, Zions Bancorporation National Association UT acquired a new stake in Extra Space Storage in the 1st quarter valued at approximately $50,000. 99.11% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Extra Space Storage

In related news, CEO Joseph D. Margolis sold 7,500 shares of the stock in a transaction dated Wednesday, October 1st. The shares were sold at an average price of $141.41, for a total value of $1,060,575.00. Following the completion of the transaction, the chief executive officer owned 19,760 shares in the company, valued at $2,794,261.60. This represents a 27.51% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Company insiders own 0.96% of the company’s stock.

Analyst Ratings Changes

EXR has been the subject of a number of research reports. Scotiabank dropped their price objective on shares of Extra Space Storage from $166.00 to $162.00 and set a “sector outperform” rating for the company in a report on Thursday, August 28th. Morgan Stanley set a $152.00 price objective on shares of Extra Space Storage in a research note on Friday. UBS Group lowered their price objective on Extra Space Storage from $169.00 to $160.00 and set a “buy” rating on the stock in a report on Tuesday, September 16th. Royal Bank Of Canada reduced their price objective on Extra Space Storage from $148.00 to $146.00 and set a “sector perform” rating for the company in a report on Friday, November 7th. Finally, Weiss Ratings reissued a “hold (c)” rating on shares of Extra Space Storage in a report on Wednesday, October 8th. Six investment analysts have rated the stock with a Buy rating and ten have issued a Hold rating to the company’s stock. According to MarketBeat.com, Extra Space Storage presently has an average rating of “Hold” and an average price target of $148.60.

Extra Space Storage Stock Performance

Extra Space Storage stock opened at $131.02 on Friday. The company has a market cap of $27.81 billion, a PE ratio of 29.24, a P/E/G ratio of 2.52 and a beta of 1.27. Extra Space Storage Inc has a 12 month low of $121.03 and a 12 month high of $165.54. The company has a fifty day moving average price of $138.62 and a two-hundred day moving average price of $143.10. The company has a debt-to-equity ratio of 0.89, a current ratio of 0.24 and a quick ratio of 0.24.

Extra Space Storage (NYSE:EXR) last announced its quarterly earnings data on Wednesday, October 29th. The real estate investment trust reported $2.08 earnings per share 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 6.56%. The business had revenue of $858.46 million during the quarter, compared to the consensus estimate of $736.26 million. During the same quarter in the prior year, the firm earned $2.07 EPS. The company’s revenue for the quarter 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. Research analysts expect that Extra Space Storage Inc will post 8.1 earnings per share for the current year.

Extra Space Storage Announces Dividend

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

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.