Extra Space Storage Inc $EXR Shares Purchased by Quadrant Capital Group LLC
by Teresa Graham · The Cerbat GemQuadrant Capital Group LLC increased its holdings in shares of Extra Space Storage Inc (NYSE:EXR – Free Report) by 90.8% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 5,595 shares of the real estate investment trust’s stock after buying an additional 2,662 shares during the period. Quadrant Capital Group LLC’s holdings in Extra Space Storage were worth $825,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. GKV Capital Management Co. Inc. purchased a new stake in shares of Extra Space Storage during the first quarter worth $29,000. Chung Wu Investment Group LLC acquired a new position in Extra Space Storage during the 2nd quarter worth $29,000. MTM Investment Management LLC purchased a new stake in Extra Space Storage during the 2nd quarter worth about $38,000. Zions Bancorporation National Association UT acquired a new stake in Extra Space Storage in the 1st quarter valued at about $50,000. Finally, Ameritas Advisory Services LLC acquired a new stake in Extra Space Storage in the 2nd quarter valued at about $75,000. Hedge funds and other institutional investors own 99.11% of the company’s stock.
Analyst Ratings Changes
A number of equities analysts have recently commented on the company. Evercore ISI reissued a “cautious” rating on shares of Extra Space Storage in a research report on Monday, November 3rd. Truist Financial lowered their price target on shares of Extra Space Storage from $158.00 to $150.00 and set a “hold” rating for the company in a report on Tuesday, August 19th. UBS Group dropped their price objective on shares of 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. Barclays decreased their price objective on shares of Extra Space Storage from $178.00 to $169.00 and set an “overweight” rating for the company in a research report on Friday, August 8th. Finally, Weiss Ratings reiterated a “hold (c)” rating on shares of Extra Space Storage in a research note on Wednesday, October 8th. Six equities research analysts have rated the stock with a Buy rating and ten have issued a Hold rating to the company. According to data from MarketBeat.com, Extra Space Storage currently has an average rating of “Hold” and an average target price of $148.36.
Check Out Our Latest Analysis on Extra Space Storage
Extra Space Storage Stock Performance
NYSE EXR opened at $131.97 on Tuesday. The company has a fifty day moving average of $138.99 and a two-hundred day moving average of $143.40. The company has a market capitalization of $28.01 billion, a PE ratio of 29.46, a P/E/G ratio of 2.56 and a beta of 1.14. Extra Space Storage Inc has a 1 year low of $121.03 and a 1 year high of $171.24. The company has a debt-to-equity ratio of 0.88, a current ratio of 0.29 and a quick ratio of 0.29.
Extra Space Storage (NYSE:EXR – Get Free Report) last posted its earnings results on Wednesday, October 29th. The real estate investment trust reported $2.08 earnings per share 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 the consensus estimate of $736.26 million. Extra Space Storage had a return on equity of 6.53% and a net margin of 28.40%.The business’s quarterly revenue was up 4.1% on a year-over-year basis. During the same period in the previous year, the business earned $2.07 EPS. Extra Space Storage has set its FY 2025 guidance at 8.120-8.20 EPS. As a group, analysts expect that Extra Space Storage Inc will post 8.1 earnings per share for the current year.
Extra Space Storage Dividend Announcement
The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 31st. Stockholders of record on Monday, December 15th will be issued a $1.62 dividend. This represents a $6.48 annualized dividend and a dividend yield of 4.9%. The ex-dividend date of this dividend is Monday, December 15th. Extra Space Storage’s dividend payout ratio is presently 144.64%.
Insider Activity
In other news, CEO Joseph D. Margolis sold 7,500 shares of the firm’s stock in a transaction that occurred 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 transaction, the chief executive officer directly owned 19,760 shares in the company, valued at approximately $2,794,261.60. This trade represents a 27.51% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Company insiders own 0.96% of the company’s stock.
Extra Space Storage 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.
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