Naviter Wealth LLC Raises Stock Position in Extra Space Storage Inc $EXR

Naviter Wealth LLC increased its holdings in shares of Extra Space Storage Inc (NYSE:EXR) by 10.4% in the second quarter, Holdings Channel reports. The firm owned 15,070 shares of the real estate investment trust’s stock after acquiring an additional 1,425 shares during the period. Naviter Wealth LLC’s holdings in Extra Space Storage were worth $2,222,000 as of its most recent SEC filing.

Several other large investors have also recently added to or reduced their stakes in the stock. GKV Capital Management Co. Inc. acquired a new position in shares of Extra Space Storage during the first quarter worth about $29,000. Chung Wu Investment Group LLC purchased a new stake in shares of Extra Space Storage during the 2nd quarter valued at about $29,000. Zions Bancorporation National Association UT acquired a new position in Extra Space Storage during the 1st quarter worth approximately $50,000. Golden State Wealth Management LLC boosted its holdings in Extra Space Storage by 147.0% in the 1st quarter. Golden State Wealth Management LLC now owns 405 shares of the real estate investment trust’s stock worth $60,000 after acquiring an additional 241 shares during the period. Finally, Ameritas Advisory Services LLC acquired a new stake in Extra Space Storage in the second quarter valued at approximately $75,000. 99.11% of the stock is currently owned by institutional investors and hedge funds.

Extra Space Storage Price Performance

Shares of NYSE:EXR opened at $145.09 on Tuesday. The company has a market cap of $30.80 billion, a PE ratio of 31.47, a P/E/G ratio of 3.44 and a beta of 1.11. Extra Space Storage Inc has a fifty-two week low of $121.03 and a fifty-two week high of $175.57. The firm has a 50-day simple moving average of $141.24 and a 200 day simple moving average of $144.33. 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 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 business had revenue of $841.62 million during the quarter, compared to the consensus estimate of $719.43 million. The business’s revenue was up 3.8% on a year-over-year basis. During the same period in the prior year, the business earned $2.06 EPS. Extra Space Storage has set its FY 2025 guidance at 8.050-8.25 EPS. On average, sell-side analysts anticipate that Extra Space Storage Inc will post 8.1 EPS for the current year.

Extra Space Storage Dividend Announcement

The business also recently disclosed 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. This represents a $6.48 dividend on an annualized basis and a yield of 4.5%. The ex-dividend date was Monday, September 15th. Extra Space Storage’s dividend payout ratio is presently 140.56%.

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 on Wednesday, October 1st. The stock was sold at an average price of $141.41, for a total value of $1,060,575.00. Following the sale, the chief executive officer directly owned 19,760 shares in the company, valued at approximately $2,794,261.60. This trade represents a 27.51% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. 1.36% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

Several research analysts have recently weighed in on the stock. The Goldman Sachs Group restated a “neutral” rating and issued a $146.00 target price (down from $169.00) on shares of Extra Space Storage in a research note on Thursday, August 21st. Evercore ISI upped their price objective on shares of Extra Space Storage from $147.00 to $149.00 and gave the company a “cautious” rating in a research report on Friday, October 3rd. Scotiabank dropped their target price on Extra Space Storage from $166.00 to $162.00 and set a “sector outperform” rating on the stock in a research report on Thursday, August 28th. BNP Paribas Exane started coverage on Extra Space Storage in a report on Tuesday, June 24th. They issued a “neutral” rating and a $156.00 price target for the company. Finally, Truist Financial dropped their price objective on Extra Space Storage from $158.00 to $150.00 and set a “hold” rating on the stock in a report on Tuesday, August 19th. Six investment analysts have rated the stock with a Buy rating, nine have issued a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, the company has an average rating of “Hold” and a consensus target price of $148.64.

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.