Extra Space Storage Inc $EXR Shares Sold by Rhumbline Advisers

Rhumbline Advisers reduced its stake in Extra Space Storage Inc by 0.5% in Q2, owning 443,008 shares worth $65.3 million. Other investors also adjusted their holdings. Extra Space Storage's stock opened at $131.45, with a market cap of $27.9 billion. The company reported Q3 earnings of $2.08 per share, exceeding estimates. Analysts have adjusted price targets, with Citigroup and Royal Bank of Canada lowering theirs. The company announced a quarterly dividend of $1.62 per share, yielding 4.9% annually.

Rhumbline Advisers cut its position in Extra Space Storage Inc (NYSE:EXR - Free Report) by 0.5% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 443,008 shares of the real estate investment trust's stock after selling 2,288 shares during the quarter. Rhumbline Advisers owned 0.21% of Extra Space Storage worth $65,317,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in EXR. FARMERS & MERCHANTS TRUST Co OF LONG BEACH lifted its holdings 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 worth $269,000 after buying an additional 80 shares in the last quarter. Farther Finance Advisors LLC increased its position in shares of Extra Space Storage by 6.5% during the second quarter. Farther Finance Advisors LLC now owns 1,559 shares of the real estate investment trust's stock worth $230,000 after acquiring an additional 95 shares during the last quarter. Blair William & Co. IL lifted its stake in shares of Extra Space Storage by 4.1% in the first quarter. Blair William & Co. IL now owns 2,693 shares of the real estate investment trust's stock worth $400,000 after acquiring an additional 105 shares in the last quarter. Benjamin Edwards Inc. lifted its stake in shares of Extra Space Storage by 2.5% in the first quarter. Benjamin Edwards Inc. now owns 4,759 shares of the real estate investment trust's stock worth $707,000 after acquiring an additional 118 shares in the last quarter. Finally, Moody Lynn & Lieberson LLC boosted its holdings in Extra Space Storage by 0.4% in the second quarter. Moody Lynn & Lieberson LLC now owns 28,289 shares of the real estate investment trust's stock valued at $4,171,000 after purchasing an additional 119 shares during the last quarter. Hedge funds and other institutional investors own 99.11% of the company's stock.

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Extra Space Storage Trading Up 2.0%

Extra Space Storage stock opened at $131.45 on Monday. Extra Space Storage Inc has a 1 year low of $121.03 and a 1 year high of $175.57. The firm's 50-day moving average is $140.13 and its 200-day moving average is $144.04. 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 company has a market cap of $27.90 billion, a P/E ratio of 29.34, a PEG ratio of 2.56 and a beta of 1.14.

Extra Space Storage (NYSE:EXR - Get Free Report) last released its quarterly earnings data on Wednesday, October 29th. The real estate investment trust reported $2.08 earnings per share for the quarter, topping the consensus estimate of $2.06 by $0.02. Extra Space Storage had a net margin of 28.40% and a return on equity of 6.53%. The firm had revenue of $858.46 million for the quarter, compared to analyst estimates of $736.26 million. During the same quarter in the prior year, the business earned $2.07 earnings per share. Extra Space Storage'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. On average, equities analysts expect that Extra Space Storage Inc will post 8.1 earnings per share for the current year.

Extra Space Storage Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 31st. Investors of record on Monday, December 15th will be given a dividend of $1.62 per share. The ex-dividend date is Monday, December 15th. This represents a $6.48 dividend on an annualized basis and a yield of 4.9%. Extra Space Storage's payout ratio is currently 144.64%.

Analyst Upgrades and Downgrades

Several research firms have issued reports on EXR. Citigroup dropped their price objective on Extra Space Storage from $165.00 to $150.00 and set a "neutral" rating on the stock in a report on Friday, August 22nd. Royal Bank Of Canada dropped their price target on shares of Extra Space Storage from $148.00 to $146.00 and set a "sector perform" rating for the company in a research note on Friday, November 7th. Wall Street Zen downgraded shares of Extra Space Storage from a "hold" rating to a "sell" rating in a research note on Saturday, November 1st. Weiss Ratings reissued a "hold (c)" rating on shares of Extra Space Storage in a report on Wednesday, October 8th. Finally, Barclays cut their target price on shares of Extra Space Storage from $178.00 to $169.00 and set an "overweight" rating on the stock in a research note on Friday, August 8th. Six research analysts have rated the stock with a Buy rating and ten have issued a Hold rating to the stock. Based on data from MarketBeat.com, Extra Space Storage currently has a consensus rating of "Hold" and an average target price of $148.36.

Get Our Latest Analysis on EXR

Insider Transactions at Extra Space Storage

In related news, CEO Joseph D. Margolis sold 7,500 shares of the company's 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 transaction, 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 sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.96% of the stock is owned by corporate insiders.

Extra Space Storage Company Profile

(Free Report)

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.

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