Extra Space Storage Inc $EXR Stock Position Trimmed by Vert Asset Management LLC

Vert Asset Management LLC lessened its stake in shares of Extra Space Storage Inc (NYSE:EXR) by 5.9% during the 2nd quarter, HoldingsChannel.com reports. The institutional investor owned 93,400 shares of the real estate investment trust’s stock after selling 5,870 shares during the quarter. Extra Space Storage makes up approximately 5.0% of Vert Asset Management LLC’s investment portfolio, making the stock its 7th biggest holding. Vert Asset Management LLC’s holdings in Extra Space Storage were worth $13,771,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors also recently bought and sold shares of the stock. Robeco Institutional Asset Management B.V. raised its holdings in Extra Space Storage by 16.6% during the 2nd quarter. Robeco Institutional Asset Management B.V. now owns 118,675 shares of the real estate investment trust’s stock valued at $17,497,000 after buying an additional 16,897 shares during the period. QTR Family Wealth LLC bought a new position in Extra Space Storage in the 2nd quarter valued at $205,000. Janney Montgomery Scott LLC grew its position in Extra Space Storage by 6.9% in the 2nd quarter. Janney Montgomery Scott LLC now owns 6,360 shares of the real estate investment trust’s stock valued at $938,000 after acquiring an additional 408 shares during the last quarter. Elser Financial Planning Inc bought a new position in Extra Space Storage in the 2nd quarter valued at $228,000. Finally, FARMERS & MERCHANTS TRUST Co OF LONG BEACH grew its position in Extra Space Storage by 4.6% in the 2nd quarter. FARMERS & MERCHANTS TRUST Co OF LONG BEACH now owns 1,825 shares of the real estate investment trust’s stock valued at $269,000 after acquiring an additional 80 shares during the last quarter. Hedge funds and other institutional investors own 99.11% of the company’s stock.

Analyst Upgrades and Downgrades

EXR has been the topic of several research analyst reports. 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. Evercore ISI upped their price objective on Extra Space Storage from $146.00 to $147.00 and gave the company an “in-line” rating in a research report on Monday, September 15th. Truist Financial cut their price objective on Extra Space Storage from $158.00 to $150.00 and set a “hold” rating on the stock in a research report on Tuesday, August 19th. Wells Fargo & Company raised Extra Space Storage from an “equal weight” rating to an “overweight” rating and set a $160.00 price objective on the stock in a research report on Tuesday, August 26th. Finally, 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 report on Thursday, August 28th. Six equities research analysts have rated the stock with a Buy rating and nine have assigned a Hold rating to the stock. According to data from MarketBeat.com, Extra Space Storage has a consensus rating of “Hold” and a consensus price target of $148.50.

Extra Space Storage Price Performance

EXR opened at $141.31 on Thursday. Extra Space Storage Inc has a 12-month low of $121.03 and a 12-month high of $177.67. The company has a current ratio of 0.29, a quick ratio of 0.29 and a debt-to-equity ratio of 0.88. The business’s fifty day simple moving average is $141.68 and its 200-day simple moving average is $144.52. The company has a market capitalization of $29.99 billion, a price-to-earnings ratio of 30.65, a PEG ratio of 3.42 and a beta of 1.11.

Extra Space Storage (NYSE:EXR) last posted its quarterly earnings results 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 for the quarter, compared to the consensus estimate of $719.43 million. During the same period in the previous year, the company posted $2.06 EPS. 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 research analysts anticipate that Extra Space Storage Inc will post 8.1 earnings per share for the current fiscal year.

Extra Space Storage Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, September 30th. Investors of record on Monday, September 15th were given a dividend of $1.62 per share. The ex-dividend date of this dividend was Monday, September 15th. This represents a $6.48 dividend on an annualized basis and a yield of 4.6%. Extra Space Storage’s dividend payout ratio (DPR) is presently 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.