Extra Space Storage Inc $EXR Shares Acquired by Johnson Investment Counsel Inc.

Johnson Investment Counsel Inc. raised its stake in shares of Extra Space Storage Inc (NYSE:EXR) by 1.7% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 15,639 shares of the real estate investment trust’s stock after purchasing an additional 260 shares during the quarter. Johnson Investment Counsel Inc.’s holdings in Extra Space Storage were worth $2,306,000 at the end of the most recent reporting period.

A number of other hedge funds have also bought and sold shares of EXR. Farther Finance Advisors LLC increased its stake in Extra Space Storage by 24.3% during the 1st quarter. Farther Finance Advisors LLC now owns 1,464 shares of the real estate investment trust’s stock valued at $216,000 after purchasing an additional 286 shares in the last quarter. CX Institutional acquired a new stake in shares of Extra Space Storage in the first quarter worth $127,000. Fifth Third Bancorp increased its stake in shares of Extra Space Storage by 25.4% in the first quarter. Fifth Third Bancorp now owns 11,835 shares of the real estate investment trust’s stock worth $1,757,000 after acquiring an additional 2,397 shares during the period. Wealth Enhancement Advisory Services LLC increased its stake 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 acquiring an additional 6,964 shares during the period. Finally, Exchange Traded Concepts LLC increased its stake in shares of Extra Space Storage by 8.5% in the first quarter. Exchange Traded Concepts LLC now owns 934 shares of the real estate investment trust’s stock worth $139,000 after acquiring an additional 73 shares during the period. Institutional investors and hedge funds own 99.11% of the company’s stock.

Extra Space Storage Stock Performance

Shares of NYSE EXR opened at $145.09 on Tuesday. The company’s fifty day moving average price is $141.24 and its 200 day moving average price is $144.33. Extra Space Storage Inc has a 1 year low of $121.03 and a 1 year high of $175.57. The company has a market capitalization of $30.80 billion, a PE ratio of 31.47, a price-to-earnings-growth ratio of 3.44 and a beta of 1.11. 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 (NYSE:EXR) last announced 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). Extra Space Storage had a return on equity of 6.69% and a net margin of 29.51%.The firm had revenue of $841.62 million for the quarter, compared to analysts’ expectations of $719.43 million. During the same period last year, the company posted $2.06 earnings per share. The business’s quarterly revenue was up 3.8% on a year-over-year basis. Extra Space Storage has set its FY 2025 guidance at 8.050-8.25 EPS. On average, research analysts predict that Extra Space Storage Inc will post 8.1 earnings per share for the current year.

Extra Space Storage Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, September 30th. Shareholders of record on Monday, September 15th were issued a dividend of $1.62 per share. This represents a $6.48 annualized dividend and a yield of 4.5%. The ex-dividend date of this dividend was Monday, September 15th. Extra Space Storage’s dividend payout ratio (DPR) is presently 140.56%.

Analyst Ratings Changes

EXR has been the topic of a number of research reports. The Goldman Sachs Group reiterated a “neutral” rating and issued a $146.00 price objective (down previously from $169.00) on shares of Extra Space Storage in a research note on Thursday, August 21st. Royal Bank Of Canada cut 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 note on Monday, August 4th. Wall Street Zen upgraded shares of Extra Space Storage from a “sell” rating to a “hold” rating in a research note on Saturday. Weiss Ratings reiterated a “hold (c)” rating on shares of Extra Space Storage in a research note on Wednesday, October 8th. Finally, BNP Paribas upgraded shares of Extra Space Storage to a “hold” rating in a research note on Tuesday, June 24th. Six research analysts have rated the stock with a Buy rating, nine have issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Hold” and an average target price of $148.64.

Insider Transactions at Extra Space Storage

In other Extra Space Storage news, CEO Joseph D. Margolis sold 7,500 shares of the 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 transaction, the chief executive officer directly owned 19,760 shares of the company’s stock, valued at $2,794,261.60. This trade represents a 27.51% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 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.