Inspire Investing LLC Grows Stake in Extra Space Storage Inc $EXR

Inspire Investing LLC increased its holdings in shares of Extra Space Storage Inc (NYSE:EXR) by 3.8% in the 2nd quarter, HoldingsChannel.com reports. The firm owned 22,293 shares of the real estate investment trust’s stock after acquiring an additional 817 shares during the period. Inspire Investing LLC’s holdings in Extra Space Storage were worth $3,287,000 at the end of the most recent reporting period.

Other institutional investors have also added to or reduced their stakes in the company. GKV Capital Management Co. Inc. purchased a new position in Extra Space Storage during the 1st quarter valued at approximately $29,000. Chung Wu Investment Group LLC purchased a new position in Extra Space Storage during the 2nd quarter valued at approximately $29,000. Zions Bancorporation National Association UT purchased a new position in Extra Space Storage during the 1st quarter valued at approximately $50,000. Golden State Wealth Management LLC grew its holdings in Extra Space Storage by 147.0% during the 1st quarter. Golden State Wealth Management LLC now owns 405 shares of the real estate investment trust’s stock valued at $60,000 after buying an additional 241 shares in the last quarter. Finally, Ameritas Advisory Services LLC purchased a new position in Extra Space Storage during the 2nd quarter valued at approximately $75,000. Hedge funds and other institutional investors own 99.11% of the company’s stock.

Extra Space Storage Price Performance

Shares of EXR stock opened at $141.98 on Friday. Extra Space Storage Inc has a 52-week low of $121.03 and a 52-week high of $175.57. The company has a debt-to-equity ratio of 0.88, a quick ratio of 0.29 and a current ratio of 0.29. The firm has a market capitalization of $30.14 billion, a P/E ratio of 30.80, a P/E/G ratio of 3.47 and a beta of 1.11. The stock has a 50 day moving average price of $141.10 and a 200 day moving average price of $144.34.

Extra Space Storage (NYSE:EXR) last issued 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 business had revenue of $841.62 million for the quarter, compared to the consensus estimate of $719.43 million. During the same period in the prior year, the business posted $2.06 earnings per share. Extra Space Storage’s 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. As a group, sell-side analysts predict that Extra Space Storage Inc will post 8.1 earnings per share for the current year.

Extra Space Storage Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, September 30th. Shareholders 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 payout ratio is 140.56%.

Analyst Ratings Changes

Several equities analysts have weighed in on EXR shares. Scotiabank cut their price target on Extra Space Storage from $166.00 to $162.00 and set a “sector outperform” rating for the company in a report on Thursday, August 28th. BNP Paribas upgraded Extra Space Storage to a “hold” rating in a report on Tuesday, June 24th. JPMorgan Chase & Co. raised their price target on Extra Space Storage from $160.00 to $162.00 and gave the company a “neutral” rating in a report on Friday, June 13th. Evercore ISI lifted their target price on Extra Space Storage from $147.00 to $149.00 and gave the stock a “cautious” rating in a report on Friday, October 3rd. Finally, Truist Financial dropped their target price on Extra Space Storage from $158.00 to $150.00 and set a “hold” rating for the company in a report on Tuesday, August 19th. Six equities research analysts have rated the stock with a Buy rating, nine have assigned a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $148.64.

Insiders Place Their Bets

In other Extra Space Storage news, CEO Joseph D. Margolis sold 7,500 shares of Extra Space Storage stock in a transaction on 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 completion of the sale, the chief executive officer directly owned 19,760 shares of the company’s stock, valued at $2,794,261.60. The trade was a 27.51% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. 0.96% of the stock is currently owned by company insiders.

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.