Catalyst Capital Advisors LLC Takes $88,000 Position in Extra Space Storage Inc $EXR

Catalyst Capital Advisors LLC purchased a new stake in shares of Extra Space Storage Inc (NYSE:EXR) during the second quarter, Holdings Channel reports. The fund purchased 600 shares of the real estate investment trust’s stock, valued at approximately $88,000.

A number of other hedge funds have also recently made changes to their positions in the company. Vanguard Group Inc. boosted its stake in shares of Extra Space Storage by 0.9% during the first quarter. Vanguard Group Inc. now owns 33,969,485 shares of the real estate investment trust’s stock valued at $5,044,129,000 after purchasing an additional 295,556 shares in the last quarter. JPMorgan Chase & Co. boosted its stake in shares of Extra Space Storage by 205.7% during the first quarter. JPMorgan Chase & Co. now owns 4,094,555 shares of the real estate investment trust’s stock valued at $608,001,000 after purchasing an additional 2,755,265 shares in the last quarter. Massachusetts Financial Services Co. MA boosted its stake in shares of Extra Space Storage by 0.4% during the first quarter. Massachusetts Financial Services Co. MA now owns 3,077,577 shares of the real estate investment trust’s stock valued at $456,989,000 after purchasing an additional 12,607 shares in the last quarter. Invesco Ltd. boosted its stake in shares of Extra Space Storage by 18.7% during the first quarter. Invesco Ltd. now owns 3,056,384 shares of the real estate investment trust’s stock valued at $453,843,000 after purchasing an additional 480,642 shares in the last quarter. Finally, Northern Trust Corp boosted its stake in shares of Extra Space Storage by 1.7% during the first quarter. Northern Trust Corp now owns 2,922,828 shares of the real estate investment trust’s stock valued at $434,011,000 after purchasing an additional 47,779 shares in the last quarter. 99.11% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at Extra Space Storage

In other Extra Space Storage news, CEO Joseph D. Margolis sold 7,500 shares of the business’s stock in a transaction that occurred 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 transaction, the chief executive officer directly owned 19,760 shares of the company’s stock, valued at approximately $2,794,261.60. The trade was a 27.51% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Company insiders own 0.96% of the company’s stock.

Extra Space Storage Price Performance

Shares of EXR opened at $150.46 on Friday. Extra Space Storage Inc has a 52-week low of $121.03 and a 52-week high of $175.57. The company has a debt-to-equity ratio of 0.88, a quick ratio of 0.29 and a current ratio of 0.29. The business’s 50 day moving average price is $143.69 and its two-hundred day moving average price is $145.02. The firm has a market cap of $31.93 billion, a PE ratio of 32.64, a price-to-earnings-growth ratio of 2.71 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 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.06 by ($0.01). Extra Space Storage had a net margin of 29.51% and a return on equity of 6.69%. The business had revenue of $841.62 million during the quarter, compared to analyst estimates of $719.43 million. During the same period last year, the firm posted $2.06 earnings per share. Extra Space Storage’s quarterly revenue was up 3.8% compared to the same quarter last year. Extra Space Storage has set its FY 2025 guidance at 8.050-8.25 EPS. On average, equities analysts anticipate that Extra Space Storage Inc will post 8.1 EPS for the current year.

Extra Space Storage Dividend Announcement

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

Analysts Set New Price Targets

A number of analysts have recently commented on EXR shares. The Goldman Sachs Group reissued a “neutral” rating and set a $146.00 price target (down from $169.00) on shares of Extra Space Storage in a research note on Thursday, August 21st. Wall Street Zen raised Extra Space Storage from a “sell” rating to a “hold” rating in a research note on Saturday, October 11th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Extra Space Storage in a research note on Saturday. 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. Finally, UBS Group cut their price objective on Extra Space Storage from $169.00 to $160.00 and set a “buy” rating on the stock in a research note on Tuesday, September 16th. Six research analysts have rated the stock with a Buy rating, nine have given a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $148.64.

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.