Axa S.A. Increases Stake in Extra Space Storage Inc $EXR

Axa S.A. boosted its position in Extra Space Storage Inc (NYSE:EXR) by 33.1% during the second quarter, HoldingsChannel reports. The fund owned 265,280 shares of the real estate investment trust’s stock after buying an additional 65,942 shares during the quarter. Axa S.A.’s holdings in Extra Space Storage were worth $39,113,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in EXR. Mattson Financial Services LLC raised its holdings in shares of Extra Space Storage by 17.7% in the 1st quarter. Mattson Financial Services LLC now owns 21,231 shares of the real estate investment trust’s stock valued at $3,153,000 after acquiring an additional 3,187 shares in the last quarter. Robeco Institutional Asset Management B.V. grew its holdings in shares of Extra Space Storage by 16.6% during the second quarter. Robeco Institutional Asset Management B.V. now owns 118,675 shares of the real estate investment trust’s stock worth $17,497,000 after purchasing an additional 16,897 shares in the last quarter. Versor Investments LP increased its position in shares of Extra Space Storage by 215.7% in the second quarter. Versor Investments LP now owns 10,068 shares of the real estate investment trust’s stock worth $1,484,000 after purchasing an additional 6,879 shares during the last quarter. Janney Montgomery Scott LLC raised its stake in Extra Space Storage by 6.9% in the second quarter. Janney Montgomery Scott LLC now owns 6,360 shares of the real estate investment trust’s stock valued at $938,000 after purchasing an additional 408 shares in the last quarter. Finally, AlphaCore Capital LLC lifted its position in Extra Space Storage by 53.5% during the second quarter. AlphaCore Capital LLC now owns 5,077 shares of the real estate investment trust’s stock valued at $749,000 after purchasing an additional 1,769 shares during the last quarter. Institutional investors own 99.11% of the company’s stock.

Insider Buying and Selling

In related news, CEO Joseph D. Margolis sold 7,500 shares of the company’s stock in a transaction on Wednesday, October 1st. The shares were 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 in the company, valued at $2,794,261.60. This represents a 27.51% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. 1.36% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

A number of equities analysts have recently commented on EXR shares. Citigroup decreased their price target on shares of Extra Space Storage from $165.00 to $150.00 and set a “neutral” rating on the stock in a report on Friday, August 22nd. Morgan Stanley lowered their price target on Extra Space Storage from $155.00 to $152.00 and set an “equal weight” rating on the stock in a research report on Friday. Wells Fargo & Company raised Extra Space Storage from an “equal weight” rating to an “overweight” rating and set a $160.00 price target for the company in a research note on Tuesday, August 26th. Evercore ISI reiterated a “cautious” rating on shares of Extra Space Storage in a research report on Monday, November 3rd. Finally, Scotiabank decreased their price objective on Extra Space Storage from $166.00 to $162.00 and set a “sector outperform” rating on the stock in a report on Thursday, August 28th. Six equities research analysts have rated the stock with a Buy rating and eleven have assigned a Hold rating to the stock. According to MarketBeat.com, Extra Space Storage has an average rating of “Hold” and an average price target of $147.53.

Extra Space Storage Trading Down 1.5%

NYSE EXR opened at $126.63 on Wednesday. The firm has a market cap of $26.88 billion, a PE ratio of 28.27, a price-to-earnings-growth ratio of 2.45 and a beta of 1.27. Extra Space Storage Inc has a 1-year low of $121.03 and a 1-year high of $164.51. The stock has a 50-day moving average of $137.87 and a 200-day moving average of $142.61. The company has a current ratio of 0.24, a quick ratio of 0.24 and a debt-to-equity ratio of 0.89.

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

Extra Space Storage Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, December 31st. Investors of record on Monday, December 15th will be paid a $1.62 dividend. This represents a $6.48 annualized dividend and a dividend yield of 5.1%. The ex-dividend date of this dividend is Monday, December 15th. Extra Space Storage’s payout ratio is presently 144.64%.

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.