Wealthfront Advisers LLC Raises Position in Extra Space Storage Inc $EXR

by · The Markets Daily

Wealthfront Advisers LLC boosted its holdings in Extra Space Storage Inc (NYSE:EXR – Free Report) by 5.0% in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 49,683 shares of the real estate investment trust’s stock after purchasing an additional 2,355 shares during the period. Wealthfront Advisers LLC’s holdings in Extra Space Storage were worth $7,325,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently modified their holdings of the company. GKV Capital Management Co. Inc. bought a new stake in shares of Extra Space Storage in the 1st quarter valued at about $29,000. Chung Wu Investment Group LLC purchased a new position in Extra Space Storage in the 2nd quarter worth approximately $29,000. Zions Bancorporation National Association UT purchased a new stake in shares of Extra Space Storage during the first quarter valued at approximately $50,000. Golden State Wealth Management LLC grew its holdings in shares of Extra Space Storage by 147.0% in 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 bought a new position in shares of Extra Space Storage in the second quarter worth approximately $75,000. 99.11% of the stock is owned by institutional investors.

Extra Space Storage Trading Down 0.6%

EXR opened at $149.36 on Tuesday. 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 Inc has a 52 week low of $121.03 and a 52 week high of $175.57. The stock has a market cap of $31.70 billion, a PE ratio of 32.40, a PEG ratio of 2.71 and a beta of 1.11. The business has a 50 day moving average of $143.94 and a 200-day moving average of $145.19.

Extra Space Storage (NYSE:EXR – Get Free Report) last posted its quarterly earnings data 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 firm had revenue of $841.62 million during the quarter, compared to the consensus estimate of $719.43 million. During the same quarter last year, the company posted $2.06 EPS. Extra Space Storage’s revenue for the quarter 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. Equities research analysts predict that Extra Space Storage Inc will post 8.1 earnings per share for the current fiscal year.

Extra Space Storage Announces Dividend

The firm 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. 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 presently 140.56%.

Insiders Place Their Bets

In other Extra Space Storage news, CEO Joseph D. Margolis sold 7,500 shares of the company’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 owned 19,760 shares in the company, valued at approximately $2,794,261.60. This represents a 27.51% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Company insiders own 1.36% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages have weighed in on EXR. UBS Group dropped their price target on shares of Extra Space Storage from $169.00 to $160.00 and set a “buy” rating for the company in a research report on Tuesday, September 16th. Citigroup dropped their target price on shares of Extra Space Storage from $165.00 to $150.00 and set a “neutral” rating for the company in a report on Friday, August 22nd. The Goldman Sachs Group reissued 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. Barclays lowered their price target on 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. Finally, Royal Bank Of Canada cut their price objective on Extra Space Storage from $160.00 to $148.00 and set a “sector perform” rating on the stock in a research report on Monday, August 4th. Six research analysts have rated the stock with a Buy rating, nine have assigned a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $148.64.

Get Our Latest Report on EXR

Extra Space Storage Profile

(Free Report)

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.

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