Peterson Wealth Services Acquires Shares of 3,554 Extra Space Storage Inc $EXR

Peterson Wealth Services bought a new stake in Extra Space Storage Inc (NYSE:EXR) during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor bought 3,554 shares of the real estate investment trust’s stock, valued at approximately $524,000.

A number of other hedge funds have also made changes to their positions in the stock. GKV Capital Management Co. Inc. bought a new position in Extra Space Storage during the 1st quarter valued at $29,000. Chung Wu Investment Group LLC acquired a new stake in shares of Extra Space Storage in the 2nd quarter valued at about $29,000. Zions Bancorporation National Association UT bought a new position in shares of Extra Space Storage during the first quarter worth about $50,000. Golden State Wealth Management LLC lifted its position in shares of Extra Space Storage by 147.0% during the first quarter. Golden State Wealth Management LLC now owns 405 shares of the real estate investment trust’s stock worth $60,000 after purchasing an additional 241 shares during the last quarter. Finally, Ameritas Advisory Services LLC acquired a new position in Extra Space Storage in the second quarter worth about $75,000. Institutional investors and hedge funds own 99.11% of the company’s stock.

Insiders Place Their Bets

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 stock was sold at an average price of $141.41, for a total transaction of $1,060,575.00. Following the completion of the transaction, the chief executive officer directly owned 19,760 shares of the company’s stock, valued at approximately $2,794,261.60. This trade represents a 27.51% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 0.96% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

Several analysts have issued reports on EXR shares. Scotiabank cut their price objective on Extra Space Storage from $166.00 to $162.00 and set a “sector outperform” rating on the stock in a research note on Thursday, August 28th. Royal Bank Of Canada decreased their price objective on shares of Extra Space Storage from $160.00 to $148.00 and set a “sector perform” rating for the company in a report on Monday, August 4th. Citigroup cut their target price on shares of Extra Space Storage from $165.00 to $150.00 and set a “neutral” rating on the stock in a report on Friday, August 22nd. Weiss Ratings reiterated a “hold (c)” rating on shares of Extra Space Storage in a research report on Wednesday, October 8th. Finally, UBS Group lowered their price objective on Extra Space Storage from $169.00 to $160.00 and set a “buy” rating for the company in a research note on Tuesday, September 16th. Six investment analysts have rated the stock with a Buy rating, nine have issued a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, Extra Space Storage presently has a consensus rating of “Hold” and a consensus target price of $148.64.

Extra Space Storage Stock Down 0.2%

Shares of Extra Space Storage stock opened at $150.46 on Friday. The company has a debt-to-equity ratio of 0.88, a current ratio of 0.29 and a quick ratio of 0.29. Extra Space Storage Inc has a 1-year low of $121.03 and a 1-year high of $175.57. The business’s fifty day moving average price is $143.69 and its two-hundred day moving average price is $144.90. The company has a market capitalization of $31.93 billion, a P/E ratio of 32.64, a PEG ratio of 2.72 and a beta of 1.11.

Extra Space Storage (NYSE:EXR) last issued its quarterly earnings results on Wednesday, July 30th. The real estate investment trust reported $2.05 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 analyst estimates 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% on a year-over-year basis. During the same period last year, the business posted $2.06 earnings per share. Extra Space Storage has set its FY 2025 guidance at 8.050-8.25 EPS. As a group, research analysts forecast that Extra Space Storage Inc will post 8.1 EPS for the current year.

Extra Space Storage Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, September 30th. Shareholders of record on Monday, September 15th were given a $1.62 dividend. This represents a $6.48 dividend on an annualized basis and a yield of 4.3%. The ex-dividend date was Monday, September 15th. Extra Space Storage’s dividend payout ratio is 140.56%.

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.