Metis Global Partners LLC raised its position in Extra Space Storage Inc (NYSE:EXR – Free Report) by 21.3% in the second quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 42,805 shares of the real estate investment trust’s stock after buying an additional 7,520 shares during the period. Metis Global Partners LLC’s holdings in Extra Space Storage were worth $6,311,000 at the end of the most recent quarter.

A number of other large investors have also modified their holdings of EXR. JPMorgan Chase & Co. grew its position in shares of Extra Space Storage by 205.7% during the 1st quarter. JPMorgan Chase & Co. now owns 4,094,555 shares of the real estate investment trust’s stock valued at $608,001,000 after acquiring an additional 2,755,265 shares during the period. Nuveen LLC purchased a new stake in shares of Extra Space Storage in the first quarter valued at approximately $257,917,000. AQR Capital Management LLC lifted its position in shares of Extra Space Storage by 570.3% during the 1st quarter. AQR Capital Management LLC now owns 1,124,206 shares of the real estate investment trust’s stock valued at $166,180,000 after buying an additional 956,500 shares in the last quarter. Resolution Capital Ltd grew its stake in Extra Space Storage by 259.1% in the 1st quarter. Resolution Capital Ltd now owns 902,157 shares of the real estate investment trust’s stock valued at $133,961,000 after acquiring an additional 650,957 shares during the period. Finally, Invesco Ltd. increased its holdings in Extra Space Storage by 18.7% in the 1st quarter. Invesco Ltd. now owns 3,056,384 shares of the real estate investment trust’s stock worth $453,843,000 after acquiring an additional 480,642 shares in the last quarter. Institutional investors and hedge funds own 99.11% of the company’s stock.

Several equities research analysts recently issued reports on the company. Scotiabank lowered 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. Wall Street Zen lowered Extra Space Storage from a “hold” rating to a “sell” rating in a research note on Saturday, November 1st. Citigroup reduced their price objective on Extra Space Storage from $165.00 to $150.00 and set a “neutral” rating for the company in a research note on Friday, August 22nd. Evercore ISI reaffirmed a “cautious” rating on shares of Extra Space Storage in a research note on Monday. Finally, The Goldman Sachs Group reiterated a “neutral” rating and issued a $146.00 target price (down from $169.00) on shares of Extra Space Storage in a research report on Thursday, August 21st. Six investment analysts have rated the stock with a Buy rating and ten have assigned a Hold rating to the stock. According to MarketBeat.com, Extra Space Storage currently has a consensus rating of “Hold” and an average target price of $148.36.

Extra Space Storage stock opened at $133.30 on Friday. 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 capitalization of $28.29 billion, a price-to-earnings ratio of 29.75, a price-to-earnings-growth ratio of 2.56 and a beta of 1.14. The company’s 50 day simple moving average is $142.90 and its 200-day simple moving average is $145.00. Extra Space Storage Inc has a 1 year low of $121.03 and a 1 year high of $175.57.

Extra Space Storage (NYSE:EXR – Get Free Report) last released its quarterly earnings results on Wednesday, October 29th. The real estate investment trust reported $2.08 EPS for the quarter, topping the consensus estimate of $2.06 by $0.02. Extra Space Storage had a return on equity of 6.53% and a net margin of 28.40%.The business had revenue of $838.53 million during the quarter, compared to analyst estimates of $736.26 million. During the same period last year, the business posted $2.07 earnings per share. The company’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, equities research analysts expect that Extra Space Storage Inc will post 8.1 earnings per share for the current year.

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, September 30th. Stockholders of record on Monday, September 15th were paid a $1.62 dividend. The ex-dividend date of this dividend was Monday, September 15th. This represents a $6.48 annualized dividend and a dividend yield of 4.9%. Extra Space Storage’s dividend payout ratio (DPR) is presently 144.64%.

In related news, CEO Joseph D. Margolis sold 7,500 shares of the company’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 sale, the chief executive officer directly owned 19,760 shares of the company’s stock, 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 accessible through this hyperlink. Company insiders own 1.36% of the company’s stock.

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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