Taylor Frigon Capital Management LLC Lowers Position in Extra Space Storage Inc $EXR

Taylor Frigon Capital Management LLC lessened its stake in Extra Space Storage Inc (NYSE:EXR) by 1.3% during the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 12,085 shares of the real estate investment trust’s stock after selling 163 shares during the quarter. Taylor Frigon Capital Management LLC’s holdings in Extra Space Storage were worth $1,782,000 at the end of the most recent reporting period.

Other institutional investors have also bought and sold shares of the company. JPMorgan Chase & Co. grew its stake in shares of Extra Space Storage by 205.7% in the 1st quarter. JPMorgan Chase & Co. now owns 4,094,555 shares of the real estate investment trust’s stock worth $608,001,000 after acquiring an additional 2,755,265 shares in the last quarter. Nuveen LLC purchased a new position in Extra Space Storage during the first quarter worth about $257,917,000. AQR Capital Management LLC grew its position in Extra Space Storage by 570.3% in the 1st quarter. AQR Capital Management LLC now owns 1,124,206 shares of the real estate investment trust’s stock worth $166,180,000 after purchasing an additional 956,500 shares in the last quarter. Resolution Capital Ltd increased its stake in Extra Space Storage by 259.1% in the 1st quarter. Resolution Capital Ltd now owns 902,157 shares of the real estate investment trust’s stock valued at $133,961,000 after buying an additional 650,957 shares during the last quarter. Finally, Invesco Ltd. lifted its position in shares of Extra Space Storage by 18.7% during the 1st quarter. Invesco Ltd. now owns 3,056,384 shares of the real estate investment trust’s stock worth $453,843,000 after buying an additional 480,642 shares in the last quarter. Institutional investors own 99.11% of the company’s stock.

Extra Space Storage Price Performance

Shares of NYSE EXR opened at $140.07 on Monday. The stock’s 50-day simple moving average is $142.22 and its two-hundred day simple moving average is $144.59. Extra Space Storage Inc has a twelve month low of $121.03 and a twelve month high of $181.42. The firm has a market capitalization of $29.73 billion, a P/E ratio of 30.38, a P/E/G ratio of 3.39 and a beta of 1.09. The company has a quick ratio of 0.29, a current ratio of 0.29 and a debt-to-equity ratio of 0.88.

Extra Space Storage (NYSE:EXR) last issued its quarterly earnings data on Wednesday, July 30th. The real estate investment trust reported $2.05 EPS for the quarter, missing the consensus estimate 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 return on equity of 6.69% and a net margin of 29.51%.The firm’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 firm posted $2.06 EPS. Extra Space Storage has set its FY 2025 guidance at 8.050-8.25 EPS. As a group, equities analysts anticipate 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 will be paid on Tuesday, September 30th. Stockholders of record on Monday, September 15th will be given a dividend of $1.62 per share. The ex-dividend date is Monday, September 15th. This represents a $6.48 annualized dividend and a dividend yield of 4.6%. Extra Space Storage’s dividend payout ratio (DPR) is 140.56%.

Insider Activity

In related news, CEO Joseph D. Margolis sold 7,500 shares of the company’s stock in a transaction on Tuesday, July 1st. The shares were 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 approximately $4,098,541. The trade was a 21.58% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 1.36% of the company’s stock.

Analyst Upgrades and Downgrades

EXR has been the subject of several recent analyst reports. Wall Street Zen lowered Extra Space Storage from a “hold” rating to a “sell” rating in a report on Friday. Evercore ISI upped their price objective on Extra Space Storage from $146.00 to $147.00 and gave the company an “in-line” rating in a research note on Monday, September 15th. BNP Paribas Exane started coverage on Extra Space Storage in a research note on Tuesday, June 24th. They set a “neutral” rating and a $156.00 target price on the stock. JPMorgan Chase & Co. increased their price target on shares of Extra Space Storage from $160.00 to $162.00 and gave the company a “neutral” rating in a research report on Friday, June 13th. Finally, Royal Bank Of Canada lowered their price objective on shares of Extra Space Storage from $160.00 to $148.00 and set a “sector perform” rating on the stock in a research report on Monday, August 4th. 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 data from MarketBeat.com, Extra Space Storage currently has a consensus rating of “Hold” and an average target price of $148.50.

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.