National Pension Service Purchases 2,370 Shares of Extra Space Storage Inc $EXR

National Pension Service increased its position in shares of Extra Space Storage Inc (NYSE:EXR) by 0.7% in the 2nd quarter, HoldingsChannel.com reports. The firm owned 319,065 shares of the real estate investment trust’s stock after purchasing an additional 2,370 shares during the quarter. National Pension Service’s holdings in Extra Space Storage were worth $47,043,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also added to or reduced their stakes in EXR. JPMorgan Chase & Co. boosted its position in shares of Extra Space Storage by 205.7% in 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 acquiring an additional 2,755,265 shares during the period. Nuveen LLC bought a new position in Extra Space Storage during the first quarter worth about $257,917,000. AQR Capital Management LLC raised its stake 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 boosted its holdings 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 purchasing an additional 650,957 shares during the period. Finally, Invesco Ltd. boosted its holdings in Extra Space Storage by 18.7% in the 1st 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 during the period. 99.11% of the stock is currently owned by institutional investors.

Insider Activity at Extra Space Storage

In other news, CEO Joseph D. Margolis sold 7,500 shares of the business’s stock in a transaction dated 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 sale, the chief executive officer directly owned 19,760 shares in the company, valued at approximately $2,794,261.60. The trade was 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 the SEC website. Insiders own 1.36% of the company’s stock.

Extra Space Storage Price Performance

Shares of NYSE:EXR opened at $131.93 on Friday. The firm has a 50 day simple moving average of $142.05 and a 200 day simple moving average of $144.74. The company has a market cap of $28.00 billion, a price-to-earnings ratio of 29.45, a PEG ratio of 2.56 and a beta of 1.14. Extra Space Storage Inc has a one year low of $121.03 and a one year high of $175.57. 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 (NYSE:EXR) last announced its quarterly earnings results on Wednesday, October 29th. The real estate investment trust reported $2.08 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.06 by $0.02. Extra Space Storage had a net margin of 28.40% and a return on equity of 6.53%. The company had revenue of $858.46 million during the quarter, compared to the consensus estimate of $736.26 million. During the same period in the prior year, the business earned $2.07 earnings per share. The company’s revenue for the quarter was up 4.1% compared to the same quarter last year. Extra Space Storage has set its FY 2025 guidance at 8.120-8.20 EPS. Research analysts predict that Extra Space Storage Inc will post 8.1 earnings per share for the current fiscal year.

Extra Space Storage Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Tuesday, September 30th. Stockholders 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 dividend yield of 4.9%. The ex-dividend date of this dividend was Monday, September 15th. Extra Space Storage’s dividend payout ratio (DPR) is presently 144.64%.

Wall Street Analyst Weigh In

Several research analysts have recently commented on the stock. UBS Group lowered their target price on shares of Extra Space Storage from $169.00 to $160.00 and set a “buy” rating on the stock in a report on Tuesday, September 16th. The Goldman Sachs Group reissued a “neutral” rating and set a $146.00 price target (down previously from $169.00) on shares of Extra Space Storage in a research report on Thursday, August 21st. Wall Street Zen lowered Extra Space Storage from a “hold” rating to a “sell” rating in a research note on Saturday, November 1st. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Extra Space Storage in a report on Wednesday, October 8th. Finally, Royal Bank Of Canada cut their target price on Extra Space Storage from $148.00 to $146.00 and set a “sector perform” rating for the company in a research report on Friday, November 7th. Six equities research analysts have rated the stock with a Buy rating and ten have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $148.36.

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.