Extra Space Storage Inc $EXR Shares Sold by Fulton Breakefield Broenniman LLC

Fulton Breakefield Broenniman LLC lowered its position in Extra Space Storage Inc (NYSE:EXR) by 3.6% in the second quarter, HoldingsChannel reports. The fund owned 9,589 shares of the real estate investment trust’s stock after selling 353 shares during the quarter. Fulton Breakefield Broenniman LLC’s holdings in Extra Space Storage were worth $1,414,000 at the end of the most recent reporting period.

Several other hedge funds have also recently modified their holdings of EXR. Maryland State Retirement & Pension System lifted its stake in Extra Space Storage by 4.7% in the 2nd quarter. Maryland State Retirement & Pension System now owns 10,239 shares of the real estate investment trust’s stock valued at $1,510,000 after buying an additional 463 shares in the last quarter. Ignite Planners LLC increased its stake in Extra Space Storage by 5.5% during the 2nd quarter. Ignite Planners LLC now owns 6,730 shares of the real estate investment trust’s stock worth $997,000 after buying an additional 349 shares in the last quarter. KLP Kapitalforvaltning AS increased its stake in Extra Space Storage by 1.9% during the 2nd quarter. KLP Kapitalforvaltning AS now owns 73,280 shares of the real estate investment trust’s stock worth $10,804,000 after buying an additional 1,400 shares in the last quarter. Chung Wu Investment Group LLC purchased a new stake in Extra Space Storage during the 2nd quarter worth approximately $29,000. Finally, Simplicity Wealth LLC purchased a new stake in Extra Space Storage during the 2nd quarter worth approximately $212,000. Institutional investors and hedge funds own 99.11% of the company’s stock.

Extra Space Storage Stock Down 0.3%

Extra Space Storage stock opened at $142.44 on Thursday. Extra Space Storage Inc has a 1-year low of $121.03 and a 1-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. The stock has a market cap of $30.23 billion, a PE ratio of 30.90, a P/E/G ratio of 3.46 and a beta of 1.11. The stock’s fifty day moving average is $140.87 and its two-hundred day moving average is $144.38.

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 for the quarter, missing analysts’ consensus estimates 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 quarter in the prior year, the business earned $2.06 earnings per share. The firm’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, sell-side analysts expect that Extra Space Storage Inc will post 8.1 EPS for the current fiscal 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 was Monday, September 15th. This represents a $6.48 dividend on an annualized basis and a yield of 4.5%. Extra Space Storage’s dividend payout ratio (DPR) is currently 140.56%.

Insider Activity at Extra Space Storage

In other news, CEO Joseph D. Margolis sold 7,500 shares of Extra Space Storage 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 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 Securities & Exchange Commission, which is accessible through this link. Company insiders own 0.96% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts have commented on EXR shares. Royal Bank Of Canada cut their price objective on Extra Space Storage from $160.00 to $148.00 and set a “sector perform” rating for the company in a research note on Monday, August 4th. JPMorgan Chase & Co. increased their price objective on shares of Extra Space Storage from $160.00 to $162.00 and gave the company a “neutral” rating in a report on Friday, June 13th. Weiss Ratings reiterated a “hold (c)” rating on shares of Extra Space Storage in a report on Wednesday. The Goldman Sachs Group reiterated a “neutral” rating and issued a $146.00 price objective (down previously from $169.00) on shares of Extra Space Storage in a report on Thursday, August 21st. Finally, Evercore ISI increased their price objective on shares of Extra Space Storage from $147.00 to $149.00 and gave the company a “cautious” rating in a report on Friday, October 3rd. Six 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. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus 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.