DekaBank Deutsche Girozentrale Raises Stock Position in Extra Space Storage Inc $EXR

DekaBank Deutsche Girozentrale lifted its stake in shares of Extra Space Storage Inc (NYSE:EXR) by 0.8% in the 2nd quarter, Holdings Channel reports. The institutional investor owned 114,837 shares of the real estate investment trust’s stock after acquiring an additional 862 shares during the quarter. DekaBank Deutsche Girozentrale’s holdings in Extra Space Storage were worth $16,757,000 as of its most recent SEC filing.

Several other institutional investors have also modified their holdings of EXR. Vanguard Group Inc. raised its position in Extra Space Storage by 0.9% in the 1st 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 during the last quarter. JPMorgan Chase & Co. raised its position in Extra Space Storage by 205.7% in the 1st 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 during the last quarter. Massachusetts Financial Services Co. MA raised its position in Extra Space Storage by 0.4% in the 1st 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 during the last quarter. Invesco Ltd. raised its position 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 last quarter. Finally, Northern Trust Corp raised its position in Extra Space Storage by 1.7% in the 1st 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 during the last quarter. Hedge funds and other institutional investors own 99.11% of the company’s stock.

Insider Activity at Extra Space Storage

In related news, CEO Joseph D. Margolis sold 7,500 shares of the business’s stock in a transaction dated Wednesday, October 1st. The shares were 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 $2,794,261.60. The trade was a 27.51% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.96% of the stock is owned by corporate insiders.

Extra Space Storage Price Performance

Extra Space Storage stock opened at $152.20 on Thursday. Extra Space Storage Inc has a 52 week low of $121.03 and a 52 week high of $175.57. The company has a quick ratio of 0.29, a current ratio of 0.29 and a debt-to-equity ratio of 0.88. The firm’s 50-day simple moving average is $143.13 and its 200 day simple moving average is $144.60. The firm has a market capitalization of $32.30 billion, a PE ratio of 33.01, a P/E/G ratio of 2.71 and a beta of 1.11.

Extra Space Storage (NYSE:EXR) last released its quarterly earnings data on Wednesday, July 30th. The real estate investment trust reported $2.05 EPS for the quarter, missing the consensus estimate 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 analysts’ expectations of $719.43 million. During the same quarter in the prior year, the firm earned $2.06 earnings per share. Extra Space Storage’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, equities research analysts predict that Extra Space Storage Inc will post 8.1 EPS for the current fiscal year.

Extra Space Storage Dividend Announcement

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

Analysts Set New Price Targets

Several analysts recently commented on EXR shares. Wells Fargo & Company upgraded shares of Extra Space Storage from an “equal weight” rating to an “overweight” rating and set a $160.00 price target for the company in a research report on Tuesday, August 26th. Barclays reduced their price target on shares of Extra Space Storage from $178.00 to $169.00 and set an “overweight” rating for the company in a research report on Friday, August 8th. Citigroup reduced their price target on shares of Extra Space Storage from $165.00 to $150.00 and set a “neutral” rating for the company in a research report on Friday, August 22nd. Evercore ISI boosted 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 note on Friday, October 3rd. Finally, Royal Bank Of Canada dropped 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. Six equities research analysts have rated the stock with a Buy rating, nine have given a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Hold” and an average target price 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.