Engineers Gate Manager LP Buys 118,713 Shares of Extra Space Storage Inc $EXR

Engineers Gate Manager LP boosted its position in shares of Extra Space Storage Inc (NYSE:EXR) by 410.2% in the second quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 147,650 shares of the real estate investment trust’s stock after acquiring an additional 118,713 shares during the quarter. Engineers Gate Manager LP’s holdings in Extra Space Storage were worth $21,770,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also modified their holdings of EXR. Benjamin Edwards Inc. grew its holdings in Extra Space Storage by 2.5% during the first quarter. Benjamin Edwards Inc. now owns 4,759 shares of the real estate investment trust’s stock valued at $707,000 after purchasing an additional 118 shares during the period. Callan Family Office LLC purchased a new position in Extra Space Storage during the first quarter valued at $206,000. National Pension Service increased its holdings in shares of Extra Space Storage by 0.7% in the first quarter. National Pension Service now owns 316,695 shares of the real estate investment trust’s stock worth $47,026,000 after purchasing an additional 2,346 shares during the last quarter. Tokio Marine Asset Management Co. Ltd. boosted its position in shares of Extra Space Storage by 3.8% during the 1st quarter. Tokio Marine Asset Management Co. Ltd. now owns 7,109 shares of the real estate investment trust’s stock valued at $1,056,000 after acquiring an additional 257 shares during the last quarter. Finally, Vestmark Advisory Solutions Inc. grew its stake in shares of Extra Space Storage by 42.7% in the 1st quarter. Vestmark Advisory Solutions Inc. now owns 4,714 shares of the real estate investment trust’s stock worth $700,000 after buying an additional 1,410 shares in the last quarter. Hedge funds and other institutional investors own 99.11% of the company’s stock.

Extra Space Storage Stock Up 1.1%

Extra Space Storage stock opened at $134.54 on Friday. Extra Space Storage Inc has a fifty-two week low of $121.03 and a fifty-two week high of $162.77. The company has a debt-to-equity ratio of 0.89, a quick ratio of 0.24 and a current ratio of 0.24. The company has a market cap of $28.56 billion, a PE ratio of 30.03, a PEG ratio of 2.53 and a beta of 1.27. The business’s 50-day simple moving average is $137.30 and its two-hundred day simple moving average is $142.37.

Extra Space Storage (NYSE:EXR) last announced its quarterly earnings data on Wednesday, October 29th. The real estate investment trust reported $2.08 EPS for the quarter, beating the consensus estimate of $2.06 by $0.02. The business had revenue of $858.46 million during the quarter, compared to analysts’ expectations of $736.26 million. Extra Space Storage had a net margin of 28.40% and a return on equity of 6.56%. The business’s quarterly revenue was up 4.1% compared to the same quarter last year. During the same period in the previous year, the business posted $2.07 EPS. Extra Space Storage has set its FY 2025 guidance at 8.120-8.20 EPS. Equities analysts anticipate that Extra Space Storage Inc will post 8.1 EPS for the current year.

Extra Space Storage Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, December 31st. Investors of record on Monday, December 15th will be issued a dividend of $1.62 per share. The ex-dividend date of this dividend is Monday, December 15th. This represents a $6.48 dividend on an annualized basis and a yield of 4.8%. Extra Space Storage’s dividend payout ratio is 144.64%.

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on the company. Royal Bank Of Canada cut their target price on Extra Space Storage from $148.00 to $146.00 and set a “sector perform” rating on the stock in a research report on Friday, November 7th. UBS Group cut their price objective on Extra Space Storage from $169.00 to $160.00 and set a “buy” rating on the stock in a research report on Tuesday, September 16th. Wells Fargo & Company upgraded Extra Space Storage from an “equal weight” rating to an “overweight” rating and set a $160.00 price target for the company in a report on Tuesday, August 26th. Mizuho cut their target price on shares of Extra Space Storage from $154.00 to $137.00 and set an “outperform” rating on the stock in a research report on Friday, December 5th. Finally, Truist Financial decreased their price objective on Extra Space Storage from $158.00 to $150.00 and set a “hold” rating for the company in a research note on Tuesday, August 19th. Six analysts have rated the stock with a Buy rating and eleven have issued a Hold rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $147.53.

Insider Activity at Extra Space Storage

In other news, CEO Joseph D. Margolis sold 7,500 shares of the firm’s 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 directly owned 19,760 shares in the company, valued at $2,794,261.60. This trade represents a 27.51% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 0.96% of the stock is owned by company insiders.

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.